Amazon’s credit card is offering new customers a $150 gift card — should you sign up?

Amazon is revamping its credit card benefits to offer new joiners a $150 coupon, but is it REALLY the best deal out there?

  • Amazon has revamped its two credit cards and both now have better benefits
  • The Prime Visa offers a $150 gift card to new customers – with no minimum spending requirement
  • It comes after Dailymail.com analyzed the best cashback deals on the market

Amazon has revamped its credit card and is offering a $150 gift card as a welcome bonus for new customers.

The Amazon Prime Rewards Visa Signature Card has been rebranded as Prime Visa and automatically gives new users the coupon – with no minimum spending requirement.

Previously, the company only offered a $100 gift card as a sign-up bonus.

The second card, the Amazon Rewards Visa Signature, has also been rebranded as Amazon Visa and offers a less substantial $60 gift card once approved.

The deal comes after Dailymail.com unveiled the top seven credit cards in hopes of enticing new customers with lucrative cashback deals.

Amazon is offering a $150 gift card as a welcome bonus for new customers of the revamped Prime Visa card

The Prime Visa offers a competitive 5 percent cash back on purchases from Amazon and Whole Foods

The Amazon Visa offers a less competitive 3 percent cashback

The Prime Visa offers a competitive 5 percent cash back on Amazon and Whole Foods purchases, while the Amazon Visa offers 3 percent

Both cards from Amazon — issued by JPMorgan Chase — have no annual fee and come with variable interest rates between 18.99 percent and 26.99 percent.

The Prime Visa offers a competitive 5 percent cash back on Amazon and Whole Foods purchases that can be redeemed immediately after each transaction.

The deal comes with a $2,500 spending limit for the first three months.

This means customers can earn up to $125 cash back in three months – on top of the $150 gift card.

But the Amazon Visa only offers 3 percent cash back on the same purchases.

Both have no foreign transaction fees and also offer 2 percent cashback at restaurants, gas stations and drug stores, as well as local transportation — including rideshare apps like Uber.

Anyone is eligible to sign up for the Amazon Visa, while the Prime Visa requires customers to have a Prime membership – which costs $139 per year.

The deal is more competitive than most of the cashback offers available in the market, which typically require customers to spend a certain amount before they can qualify.

A good number of credit card providers offer some respite in the form of cashback deals

A good number of credit card providers offer some respite in the form of cashback deals

The bonuses mean customers can earn hundreds of dollars - and up to 6 percent of their purchase price - by doing their weekly shopping or booking a vacation

The bonuses mean customers can earn hundreds of dollars – and up to 6 percent of their purchase price – by doing their weekly shopping or booking a vacation

For example, the Chase Freedom Unlimited card offers new members a $200 sign-up bonus — but only after they spend $500 in the first three months of opening the account.

Likewise tHe Citi Custom Cash card also offers a $200 cashback bonus to new customers, provided they spend $1,500 in the first three months.

Amazon has been steadily moving into the world of financial services, launching its own insurance comparison website last year.

It started offering the Prime credit card in 2017 to take advantage of the growing number of subscribers.

The move reflects a similar strategy to Apple, which recently launched its first-ever savings account with an interest rate of 4.15 percent — more than ten times the rates offered by mainstream banks.

According to sources, the tech giant managed to attract more than $1 billion in deposits in the first four days.