Amazon.ca Rewards Mastercard Review

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Are you looking for an Amazon.ca Rewards Mastercard review? Then no look further as this post focuses on everything you need to know about the card.

If you’ve made any purchase on Amazon Canada in the last two years, you’ve likely been prompted to apply for the card. Yes, it’ll give you an instant discount and some cash back, but is the card any good? I can tell you right now that it’s great for people who use Amazon Prime and shop at Whole Foods a lot, but compared to the best cash back credit cards in Canada and the best travel credit cards in Canada, you may be a little disappointed. Read my Amazon.ca Rewards Mastercard review now for the full details.

Amazon.ca Rewards Mastercard

  • No annual fee
  • $50 Amazon gift card at sign up
  • 5% back at Amazon.ca, grocery stores and restaurants for six months after your account is opened
  • 2.5% back at Amazon.ca, Whole Foods Market in Canada and foreign currency transactions
  • 1% back per dollar spent on all other purchases

Welcome bonus and earn rate

The Amazon.ca Rewards Mastercard typically has a welcome bonus of $10 – $50 when you sign up and are approved. This welcome bonus comes as an Amazon.ca gift card and can be used immediately. In addition, you’ll typically earn 5% cash back for the first six months on your first $3,000 in spending.

As for the earn rate, it’s a bit more complicated than it needs to be. If you’re an Amazon Prime member, you’ll earn 2.5% back at Amazon.ca, Whole Foods Market stores, and on foreign transactions. All other purchases earn you 1% in rewards. However, if you’re not an Amazon Prime Member, you only get 1.5% back at Amazon.ca and Whole Foods Markets. All other purchases earn you 1% back. In other words, you need to be a Prime member to make this card worth it.

Although the earn rate isn’t anything special since it’s so specific, if you’re a Prime member, you won’t get a higher earn rate anywhere else for Amazon.ca purchases. So, if you shop a lot at Amazon, this card is worth considering.

Benefits and perks

It’s time to go over the benefits in my Amazon.ca Rewards Mastercard Review. Like most store credit cards, this card doesn’t give you many perks. That said, the ones that do come included can be useful.

No foreign transaction fees

Technically speaking, you’re charged a foreign transaction fee of 2.5% on any purchases made that are not in Canadian dollars. However, if you’re an Amazon Prime member, you’ll get 2.5% back, so technically, there are no foreign transaction fees. However, non Prime members will have to pay the 2.5% fee.

Save with Avis and Budget Rent A Car

When using your card at Avis and Budget Rent A Car in Canada, you’ll save a minimum of 10% on the base rate. For international rentals, you’ll get at least 5% off the base rate.

Unexpected return home benefits

As long as you pay for your entire flight with your Amazon.ca Rewards Mastercard, you’ll be covered for your return home for an eligible reason. This is similar to trip interruption insurance.

Purchase insurance

  • Purchase assurance – 90 days
  • Extended warranty – Up to one additional year

When you charge the full amount of your purchase to your Amazon.ca Rewards Mastercard, you’ll qualify for purchase insurance, which covers your goods from theft, loss, and damage for 90 days. The extended warranty benefit doubles your manufacturer’s warranty for up to one additional year.

How Amazon Rewards works

Amazon Rewards is pretty simple. When you accumulate 2,000 Amazon Rewards will earn you a $20 Amazon.ca gift card. It’s essentially a cash back program with nothing extra to it. I personally prefer travel rewards since I can usually claim flights or hotels which have incredible value, but I certainly understand why some people prefer something simple, such as Amazon Rewards. Note that you can only earn rewards if you have the credit card.

Amazon.ca Rewards Mastercard Eligibility

  • You’re a Canadian citizen or are a permanent resident
  • You’re at least the age of majority in your province or territory

Like all other credit cards, a minimum credit score requirement is not listed. That said, a credit score of at least 660 is recommended before applying. There’s also no income requirement listed.

How the Amazon.ca Mastercard compares

Amazon.ca Rewards Mastercard vs. American Express Cobalt Card

If you want a credit card with a high earning rate, you should consider the American Express Cobalt Card. With the card, you’ll earn 5 American Express Membership Rewards points per $1 spent on eats and drinks (including grocery stores), 3 points on streaming services, 2 points on travel and transit, and 1 point on all other purchases. The earn rate on grocery stores is double of what the Amazon.ca Mastercard offers and it applies to all purchaes. However, the Cobalt card gives you a lower earning rate on Amazon.ca purchases.

Amazon.ca Rewards Mastercard vs. PC Financial World Elite Mastercard

The PC Financial World Elite Mastercard gives you a much higher earn rate at Loblaws owned stores, Shoppers Drug Mart and Joe Fresh. What really sets this program apart is how easy it is to earn points. Not only can you do so with the credit card, but you also get in-store and targeted offers regularly. Plus, Shoppers drug mart has bonus redemption events where you can get even more value out of your points.

Amazon.ca Rewards Mastercard vs. Triangle World Elite Mastercard

The other comparable card is the Triangle World Elite Mastercard which is targeted at people who do a lot shopping at Canadian Tire, Sports Check, Mark’s and Atmosphere locations. Like the PCFWEMC, the Triangle card is good where you can earn additional points, but it’s pretty basic if you’re shopping on Amazon.

Final thoughts

My Amazon.ca Rewards Mastercard review is positive. This is a no-fee card that gets linked to your Amazon account immediately so it’s perfect for people in the following situations:

  • You shop a lot at Amazon.ca – If you an Amazon Prime membership, you’ll earn 2.5 back in rewards on all Amazon.ca purchases. There’s no credit card that gives you a higher return at Amazon.
  • You don’t want to pay foreign transaction fees – Amazon Prime members get 2.5% back in rewards when making a purchase that’s not in Canadain dollars.
  • You don’t want to pay an annual fee – You’ll earn decent rewards with this card without having to pay an annual fee.

Although this is one of the best store credit cards in Canada, it lacks many other benefits that some of the best travel rewards credit cards. That said, the benefits you do get will appeal to many people.

About Barry Choi

Barry Choi is a Toronto-based personal finance and travel expert who frequently makes media appearances. His blog Money We Have is one of Canada’s most trusted sources when it comes to money and travel. You can find him on Twitter:@barrychoi

11 Comments

  1. Alex on June 18, 2019 at 9:26 AM

    Having loved my Chase Amazon.ca Rewards Visa, I was at first excited, then severely disappointed with this card when it came up on my phone this morning. As you outlined, effectively 0 reward on foreign currency (compared with 1.5% on Rogers WE), spend $800 on Amazon to get $20 (vs. PayTM Amazon Reward + Rogers WE spend $347.82 to get $20).

    • Barry Choi on June 18, 2019 at 9:31 AM

      Alex,

      I totally agree. I LOVED my old Amazon.ca card from CHASE but all the other credit card providers have released much better cards. This one from MBNA is a bit disappointing. That being said, I suppose 2.5% back on Amazon purchases is good if you shop there a lot.

  2. EM on June 18, 2019 at 9:32 AM

    I used to have the CHASE Amazon.ca card and I liked it for the no foreign transaction fee. The rewards were direct statement credits so I guess the only enticement to use Amazon was getting 2% there as opposed to 1% elsewhere. It was a secondary card so it was ok. Since then I got BRIM as a secondary card and so far so good. So I won’t be coming to Amazon.ca with MBNA as I am not a Prime member.

    • EM on June 18, 2019 at 9:35 AM

      Also… I liked that it was a VISA as my primary is a Mastercard. Does that make any difference? My thought was try to “diversify” my retail lenders.

      • Barry Choi on June 18, 2019 at 10:55 AM

        I wouldn’t worry too much about this being a Mastercard.

        • Csvan on November 4, 2019 at 7:20 PM

          My question is where an I supposed to sign the card? It’s all black except for the white printed card number. If I sign in that, I’ll never see my card number! ‍♀️

  3. Kun on November 5, 2019 at 4:37 PM

    I just received this card. A little confused with the no frills look of it. No name or number on the front of the card, is it a security feature or something. Anyway, a great feature is that Amazon lets you use it right away before you receive the physical card. Paired with Ebates.ca, I am getting 6% off my amazon.ca purchases which add up to a lot. I also have the PC mastercard and triangle card, they make for a big wallet but between the three of them and my Rogers world elite for forex transactions I am covered

    • Andrew on November 26, 2019 at 5:15 AM

      Are you sure there’s rental car insurance on it? Never saw this when applying.

      • Barry Choi on November 26, 2019 at 7:41 AM

        Hey Andrew,

        Good catch. When I first wrote this review, rental car insurance and common carrier insurance were listed on the website but it’s no longer there. Interesting enough, it still links to MBNA’s generic travel insurance website but it doesn’t say which category the card falls under so I’ve deleted the references for now.

  4. Brandon Mccluskey on April 27, 2020 at 8:42 PM

    How do you link your credit card to your amazon card my amazon account doesn’t have any info on it. I signed up for it and it doesn’t say anything. Also how do I check if my amazon account is linked too my account don’t I type the information first?

  5. Brandon Mccluskey on April 27, 2020 at 8:43 PM

    I typed the wrong email on when I signed up. I changed it but I don’t have an amazon profile.

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