Amazon hit the headlines this week after announcing it will soon stop accepting Visa credit cards in the UK. But in other news, the world’s largest online retailer has announced a tie-up with Chase Bank, meaning its customers can now bag 3% cashback on Amazon purchases until the end of the year.
Here’s everything you need to know about the offer.
How can you earn 3% cashback with Amazon?
To bag yourself 3% cashback on Amazon purchases, you’ll need to have a Chase Bank current account in the UK. If you aren’t already with Chase, then you can apply for an account via its Android or iOS mobile app.
Once you’re a customer, you’ll need to go into the ‘Rewards Hub’ section in the Chase app, and activate the Amazon cashback offer.
It’s worth knowing that this offer doesn’t sit on top of Chase Bank’s existing 1% cashback offering, which applies to eligible spends made on its debit card for a year. In other words, you’ll earn 3% cashback at Amazon, not 4%.
What else do you need to know about the offer?
The boosted Amazon cashback offer ends on 31 December 2021. This gives you enough time to bag yourself a decent sum of cash in the run-up to Christmas.
The cashback applies to all Amazon.co.uk spending, including purchases of digital downloads, Prime subscriptions, and items sold by third-party merchants through Amazon’s marketplace made using your Chase debit card.
The boosted cashback is capped to spends of up to £5,000, meaning the maximum cashback you can earn is £150. However, you’ll still get the normal 1% cashback if you go over the spending limit, as the 1% cashback isn’t capped.
Commenting on the launch of the offer Deborah Keay, chief marketing officer at Chase Bank, says the bank’s tie-up with Amazon is targeted at busy shoppers in the run-up to Christmas. She explains: “The festive season is fast approaching and we know consumers are already busy shopping for the holidays.
“We want to help everyone to have an even more rewarding festive season this year, so we’re delighted to be expanding our fuss-free rewards programme so Chase customers earn a little extra back while they spend with Amazon in the run-up to the holiday period.”
What else does the Chase current account offer?
Chase Bank is part of JPMorgan Chase & Co, a huge name throughout the United States. Despite this, the brand only launched in the UK less than two months ago. To help establish its presence with British customers, the bank has bundled its new account with a number of decent perks.
Aside from the normal 1% cashback offer, which applies to eligible spends for one year, the Chase account also offers a feature to round-up ‘small change’ from your purchases, up to the nearest pound. Anything saved using this feature earns a hefty 5% AER variable interest. This is far above the interest offered with any normal savings account.
The Chase account also comes with a debit card that’s valuable to take with you on trips abroad. That’s because it offers fee-free overseas spending and cash withdrawals. ATM withdrawals are limited to £700 per month, though this should be more than sufficient for most.
Chase also has a UK-based customer support team contactable 24 hours a day through its app. This is a welcome feature for those who detest automated customer service.
To learn more about the pros and cons, see our comprehensive analysis of the Chase current account.
How else can you save on Amazon spending?
As the world’s largest retailer, billions of pounds are expected to pass through Amazon ahead of the festive season. As a result, you may be pleased to hear that aside from Chase’s boosted cashback offer, there are currently three ways to bag yourself a discount on your Amazon purchases. You can get:
- A 12% (or £6) Amazon discount by topping up your account by £50 (offer ends 31 December).
- A £6 Amazon discount by buying £50 worth of gift cards (ends 31 December).
- A £40 Amazon gift card by signing up to the Amazon credit card (no end date specified).
However, eligibility rules apply for all of these offers. To get the full lowdown, and to check your eligibility, see our guide that explains how to get a discount at Amazon.
Some offers on The Motley Fool UK site are from our partners — it’s how we make money and keep this site going. But does that impact our ratings? Nope. Our commitment is to you. If a product isn’t any good, our rating will reflect that, or we won’t list it at all. Also, while we aim to feature the best products available, we do not review every product on the market. Learn more here. The statements above are The Motley Fool’s alone and have not been provided or endorsed by bank advertisers. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK has recommended Barclays, Hargreaves Lansdown, HSBC Holdings, Lloyds Banking Group, Mastercard, and Tesco.