Maximizing Credit Card Rewards: Strategies for Amazon Prime Day Success

An expert in credit card rewards suggests strategies to leverage Amazon Prime Day using credit card points. Rather than directly spending points at Amazon, cash them out for a statement credit to avoid a 30% redemption value loss. Additionally, use points for Amazon discounts through credit card issuer deals, and consider using an Amazon credit card for further benefits.

Amazon Prime Day, the retail giant's highly anticipated annual sales event, is just around the corner. For credit card holders, this day offers an excellent opportunity to leverage their rewards points for additional savings. An expert in credit card rewards suggests strategies to help you make the most of your points during this exciting shopping event.

First, consider cashing out your points for a statement credit instead of directly spending them at Amazon. For instance, a forum thread on MyFico discusses the benefits of statement credit over redeeming points for purchases on the Amazon rewards Visa card [1]. By choosing this option, you can avoid a 30% redemption value loss and maintain the 5% cashback earned on your purchases.

Additionally, take advantage of credit card issuer deals that offer Amazon discounts when using points. These deals can provide significant savings on your Amazon Prime Day purchases. To find such offers, carefully review your credit card provider's rewards program and look for any partnerships with Amazon.

Lastly, consider using an Amazon credit card for your purchases during this event. Many Amazon credit cards offer bonus rewards or other incentives, making them an excellent choice for maximizing your savings.

In conclusion, to make the most of your credit card rewards during Amazon Prime Day, focus on cashing out your points for statement credit or transferring them to your bank, using points for Amazon discounts through credit card issuer deals, and considering an Amazon credit card for your purchases.

References:
[1] https://ficoforums.myfico.com/t5/Credit-Cards/Amazon-rewards-visa-statement-credit-or-redeem-points-for/td-p/5280620