Amazon.ca Rewards Mastercard Review

4.25

$0

Annual Fee

$246

Annual Rewards

N/A

Intro Offer

$0

Annual fee

$246

Annual rewards

N/A

Intro offer


Pros


  • No annual fee
  • Earn Amazon.ca Rewards Points on eligible purchases
  • Bonus points on Amazon.ca purchases
  • Redeem points for Amazon.ca purchases or statement credits
  • Widely accepted as a Mastercard
  • No foreign transaction fees
  • Optional balance transfer offer

Cons


  • Limited value outside of Amazon.ca purchases
  • No travel insurance or purchase protections
  • Potentially lower rewards value compared to other cash back or rewards cards
  • Minimal perks beyond rewards earning
  • Requires Amazon.ca account for optimal benefits

Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.

The Amazon.ca Rewards Mastercard has earned a 4.25 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

Rewards

Fees

Perks

Interest rates

Insurance

Acceptance

Approval

The highest scoring categories for the Amazon.ca Rewards Mastercard are fees and interest.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the Amazon.ca Rewards Mastercard the most important factors for scoring this card are its fees and interest.

Rewards

With the Amazon.ca Rewards Mastercard, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Bills1 points
Pharmacy1 points
Gas1 points
Groceries1 points
Restaurants1 points
Specific Stores1.5 points
Travel1 points
All Other Spend1 points

Calculating your annual rewards

We estimate that spending $2,000 per month with the Amazon.ca Rewards Mastercard would earn $246 in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you’d earn this per category:

Specific Stores$18
All Other Spend$228

Our study investigating the value found that each dollar spent on the Amazon.ca Rewards Mastercard is worth up to $0.01, depending on how you redeem.

This $246 in rewards value puts the Amazon.ca Rewards Mastercard in the bottom 40% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the Amazon.ca Rewards Mastercard earns $246 in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that’s a 10% earn rate on gas.

SpendThis CardAverage
Bills1.00%1.25%
Pharmacy1.00%1.17%
Gas1.00%1.48%
Groceries1.00%1.71%
Restaurant1.00%1.53%
Store1.50%1.94%
Travel1.00%1.19%
Other1.00%1.08%
Above, we’ve calculated the earn rate for the Amazon.ca Rewards Mastercard for every spend category and compared it to the average for all Canadian credit cards.
Redemption methodAnnual rewards
Amazon.ca$246

For an annual spend of $24,000, we estimated annual rewards value at up to $246.

That’s equivalent to a 1.03% return on spending.

The Amazon.ca Rewards Mastercard has an annual fee of $0. After deducting this, we predicted net annual rewards of $246.

This puts it in the bottom 50% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.

Fees

The Amazon.ca Rewards Mastercard has a $0 annual fee.

The average card charges $85. So, the Amazon.ca Rewards Mastercard is in the bottom 50% of cards based on the cost of the annual fee.

Perks

We manually review the perks of each credit card to determine how they compare to other cards.

The Amazon.ca Rewards Mastercard scored a 0.7 out of 5 for perks, putting it in the bottom 20% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

Purchase19.99%
Cash Advance22.99%
Balance Transfer22.99%

The average (median) credit card has a purchase interest rate of 19.99% and so the Amazon.ca Rewards Mastercard charges {{purchase_interest_diff}} than the average.

For cash advances it costs 22.99% compared to the average of 19.96%.

Testing the Amazon.ca Rewards Mastercard with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

InsuranceThis CardAverage
Extended Warranty1 year1 year
Purchase Protection90 days90 days

We scored it 0.0 out of 5 for insurance.

It offers 2 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score760 – 900
Personal Income$0
Household Income$0
Fees
Annual Fee$0
Extra Card Fee$0
Card typeMasterCard

We scored it 2.5 out of 5 for approval.

We predict that you will require a credit score of at least 760 to qualify for the Amazon.ca Rewards Mastercard, while the average card requires 652 to qualify.

This puts it in the top top 10% of cards by approval difficulty.

The personal income requirements are $0, while the average card requires $23,896.

This puts it in the top 50% of cards by the income required to qualify.

The Amazon.ca Rewards Mastercard credit card is a popular option for Canadians looking to optimize their online shopping experience. Let’s dive into its earning potential, list four benefits and two drawbacks of using this card, and touch on any other relevant information that might be helpful to potential users.

Earning potential with the card:

The Amazon.ca Rewards Mastercard allows users to earn cash back in several different spending categories. Cardholders earn 2.5% cash back on eligible purchases at Amazon.ca, Amazon.com, Whole Foods Market stores, and travel booked on Amazon.ca. For all other eligible purchases, cardholders will earn 1% cash back.

The cashback rewards can be redeemed as statement credits, applied towards eligible Amazon.ca purchases, or as cash rewards in the cardholder’s bank account.

Benefits

  1. No Annual Fee: One of the most attractive features of the Amazon.ca Rewards Mastercard is the absence of an annual fee. Cardholders can enjoy its perks and rewards without worrying about offsetting the cost of a yearly fee, making it a budget-friendly option.
  2. Amazon Prime Membership Discount: This card offers an additional benefit for Amazon Prime members. If you are a Prime member, you will earn 2.5% cash back instead of the standard 1.5% cash back on eligible Amazon.ca and Whole Foods Market purchases.
  3. Travel Rewards: Cardholders can earn an attractive 2.5% cash back on travel purchases made through Amazon.ca, making the card an appealing choice for those who frequently book their trips online.
  4. No Foreign Transaction Fees: Another significant advantage of the Amazon.ca Rewards Mastercard is the lack of foreign transaction fees. This makes it an ideal card for those who travel internationally or make purchases in currencies other than Canadian dollars, as there will be no additional cost for doing so.

Drawbacks

  1. Limited Redemption Options: A considerable drawback of this card is that the cashback rewards can only be redeemed as statement credits, eligible Amazon.ca purchases, or as cash rewards in the cardholder’s bank account.

    This may not be ideal for some users who prefer a wider range of redemption options, such as gift cards or merchandise.
  2. No Travel Insurance: Though the card offers cashback rewards on travel bookings, it does not come with any travel insurance benefits. Canadians seeking protection for their trips might find this exclusion disappointing.

Additional information:

In conclusion, the Amazon.ca Rewards Mastercard credit card is a suitable choice for Canadians who frequently shop on Amazon.ca or seek a budget-friendly card with no annual fee or foreign transaction fees. However, it may not be the best option for those who prioritize travel insurance or a broader selection of reward redemption options.

Interested in other credit cards? Canadians that like the Amazon.ca Rewards Mastercard credit card also like the Brim World Elite Mastercard. If you’re looking for other options you should consider the Rogers World Elite MasterCard, and the KOHO Essential Mastercard.

FAQ

With the Amazon.ca Rewards Mastercard, you can redeem your points for a wide variety of options, such as:

  • Amazon.ca purchases: You can use your points to directly pay for your purchases on Amazon.ca, either partially or in full.
  • Travel: Redeem your points for various travel-related expenses like flights, hotels, and car rentals through Mastercard’s Pay with Rewards portal.
  • Gift cards: You can choose from a wide selection of gift cards available in the Pay with Rewards portal, including major retailers, restaurants, and more.
  • Statement credits: You also have the option to redeem your points for statement credits, helping to reduce your credit card balance.
  • Charitable donations: If you prefer, you can redeem your points for charitable donations to the organizations available in the Pay with Rewards portal.

The Amazon.ca Rewards Mastercard credit card offers a competitive feature in terms of foreign transaction fees. Cardholders of this particular card enjoy no foreign transaction fees when making purchases abroad or in a foreign currency.

This means that whether travelling or shopping on international websites, users can benefit from using the Amazon.ca Rewards Mastercard without worrying about incurring additional costs for currency conversion or foreign transactions.

The Amazon.ca Rewards Mastercard does not have a minimum income requirement, making it accessible to a wide range of Canadian cardholders.

Key benefits

  • 2.5% cash back for eligible purchases at Amazon.ca, Whole Foods Market, and Amazon Prime membership
  • 1% cash back on all other purchases with no cap
  • Welcome offer: 5% back on Amazon.ca, grocery stores, and restaurants in the first 6 months (up to $3,000 spend)
  • Introductory balance transfer rate of 1.99% for first 6 months
  • Mobile device insurance up to $1,000 coverage
  • Access to Mastercard Travel Rewards program
  • Support for mobile wallet payments (e.g., Apple Pay, Google Pay)
  • Zero liability protection against unauthorized purchases
  • Optional Priceless Cities experiences through Mastercard
  • Minimum credit limit of $700
  • Applicant needs to reside in Canada and have a Canadian credit file

About The Author