The Amazon.ca Rewards Mastercard offers a versatile and rewarding experience for Canadian shoppers, especially those who frequent Amazon.ca and Whole Foods Market stores. With no annual fee and various cashback benefits, this card is designed to enhance your purchasing power and provide valuable perks for everyday spending.
From its generous welcome offer to its no-fee structure, this credit card caters to a wide audience, including Prime and non-Prime members. In this article, we’ll explore all the essential details, benefits, and potential drawbacks to help you determine if it’s the right choice for you.
Key information about the credit card
How does the annual fee work?
One of the most attractive features of the Amazon.ca Rewards Mastercard is its $0 annual fee. This fee-free structure makes it an excellent choice for those looking to maximize rewards without worrying about extra charges. Unlike cards with annual fees that can sometimes outweigh the benefits, this card ensures that every dollar you earn in cashback truly contributes to your savings. Whether you’re a frequent Amazon shopper or someone looking for a reliable everyday credit card, the lack of an annual fee adds significant value.
How is the credit limit determined?
The credit limit for the Amazon.ca Rewards Mastercard is determined based on several factors, including your credit score, income level, and existing financial obligations. When you apply, MBNA, the card issuer, reviews your credit history and current financial standing to assign a limit that reflects your ability to repay. For conventional credit cards like this one, the institution evaluates your overall creditworthiness to ensure the limit aligns with responsible lending practices.
Advantages of the credit card
- Generous cashback rewards: Earn 5% back on eligible purchases at Amazon.ca, Whole Foods Market, grocery stores, and restaurants for the first six months on up to $3,000. After this period, Prime members enjoy 2.5% back at Amazon.ca and Whole Foods Market, while non-Prime members receive 1.5% back.
- No foreign transaction fees: Eligible Prime members get 2.5% back on foreign currency transactions, covering the cost of international purchases.
- 1% cashback everywhere else: Enjoy 1% back on purchases wherever Mastercard is accepted, ensuring rewards for all your spending.
- Flexible rewards redemption: Use your earned rewards directly on Amazon.ca, making it easy to apply cashback to eligible purchases.
- No annual fee: Save money with a completely fee-free structure, enhancing the card’s value.
Standout advantage
The standout advantage of the Amazon.ca Rewards Mastercard is its integration with Amazon.ca and Whole Foods Market, allowing cardholders to maximize savings on everyday purchases. The 5% cashback welcome offer and ongoing 2.5% cashback for Prime members ensure that frequent Amazon shoppers benefit significantly from using the card. This seamless integration with one of Canada’s largest online retailers and its affiliate stores makes it a top choice for digital-savvy consumers.
Disadvantages of the credit card
- Lower cashback for non-Prime members: While Prime members enjoy higher rewards, non-Prime members are limited to 1.5% back at Amazon.ca and Whole Foods Market.
- High-interest rates: The 19.99% interest rate on purchases and 22.99% on cash advances and balance transfers can be costly for those who carry a balance.
- Limited rewards outside of Amazon and Whole Foods: Cashback on non-Amazon purchases is capped at 1%, making it less competitive for general spending compared to other rewards cards.
A standout disadvantage
The primary drawback of the Amazon.ca Rewards Mastercard is its reduced rewards rate for non-Prime members. While Prime members receive up to 2.5% back on Amazon.ca and Whole Foods Market purchases, non-Prime members only get 1.5%. This disparity might make the card less appealing for those who don’t subscribe to Prime, limiting its overall value.
Who can apply for this card?
To apply for the Amazon.ca Rewards Mastercard, there are several eligibility requirements that applicants must meet. First, you must be a Canadian resident and have reached the age of majority as determined by your province or territory. Additionally, while the card is not exclusively designed for individuals with excellent credit, having a good to excellent credit score significantly increases the likelihood of approval.
Although minimum income requirements are not explicitly stated, providing documentation that demonstrates a stable and consistent income can enhance your application. The process also necessitates valid identification and proof of address, ensuring that applicants meet the essential criteria for consideration.
How to apply for the Amazon.ca Rewards Mastercard
Applying for the Amazon.ca Rewards Mastercard is a straightforward process. Whether you prefer to apply online, through an app, or in person, MBNA provides multiple options to suit your convenience. Each method is designed to ensure a secure and user-friendly experience, making it easy to get started with your new credit card.
For the website
To apply online, visit the official MBNA website and navigate to the Amazon.ca Rewards Mastercard page. From there, click the “Apply Now” button to access the secure application form. You’ll need to provide personal details such as your name, address, and date of birth, along with financial information like your income and employment status. The online application process typically takes only a few minutes, and you may receive a decision instantly or within a few business days.
Through the app
Applying for the Amazon.ca Rewards Mastercard through the MBNA mobile app offers a convenient and user-friendly alternative. Begin by downloading the app from your device’s app store, then log in or create an account if you’re a new user. Navigate to the credit card section to find the Amazon.ca Rewards Mastercard and follow the step-by-step prompts to start your application. The app streamlines the process by enabling you to upload necessary documents directly from your phone, making it quick, efficient, and accessible from anywhere.
At the branch
While MBNA primarily manages applications for the Amazon.ca Rewards Mastercard online, there is also an option to apply through participating financial institution branches. By visiting a branch, you can speak directly with a representative who will guide you through the application process, address any questions you may have, and assist in gathering or submitting necessary documentation. This approach is especially beneficial for those who prefer face-to-face support or require additional clarification before proceeding with their application.
