GigaPoints Reveals Top Three Amazon Prime Day Hacks to Know Before You Shop
SAN FRANCISCO, CA (May 26, 2021) — GigaPoints, a platform that provides personalized credit card recommendations based on a user’s spending, is sharing three shopping hacks to maximize your dollars during Amazon Prime Day(s), expected to take place in June 2021.
“Amazon Prime Day deals are already some of the best of the entire year,” said Erik Budde, CEO and founder of GigaPoints. “With these hacks, consumers have the potential to save up to an additional 13.5% in the form of credit card rewards.”
Use an Amazon Credit Card to Shop Prime Day Deals: Up to 5% Additional Savings
When shopping for Prime Day deals, consumers can maximize their savings by using the credit card that earns the most rewards. Amazon’s own dedicated cards earn more for shopping at Amazon than any other credit cards.
The Amazon Prime Rewards Visa Signature Card, which requires a Prime membership, earns users 5% cash back on Amazon and Whole Foods purchases. Meanwhile, the Amazon Rewards Visa Card earns 3% back at Amazon and Whole Foods, and does not require a Prime membership.
Consumers who don’t have an Amazon credit card, can look for a card with a high rate of return for overall spending by leveraging the GigaPoints’ Best Card tool. This tool shows which cards earn the most for any category or merchant. Using it for Amazon highlights a number of cards that earn 2% cash back along with a Capital One card that earns two points for every dollar spent on everything. With a GigaPoints account, the tool will also analyze all of a user’s existing cards to highlight which will earn the most rewards when used at Amazon.
Buy Amazon Gift Cards with Your Grocery Credit Card: Earn Up to 8.5% Additional Savings
Shoppers can collect some great returns by buying Amazon gift cards at stores that earn bonus points on their credit cards. For example, the American Express Gold card pays four points per dollar spent on groceries. If you buy a $200 Amazon gift card at a grocery store, you can earn 1,000 Membership Rewards points. According to GigaPoints’ valuations, those points are worth $17, the equivalent of an 8.5% return on your spending.
Since Amazon gift cards are sold at so many different types of retailers, this tactic works in a variety of different places. Many business cards offer bonus points at office supply stores, most of which carry Amazon gift cards as well. The same goes for drug stores.
Buying gift cards can also be a good way to limit your Prime Day splurges. Commit in advance to a personal spending cap for Prime Day and only buy that amount in gift cards and you can more easily stick to your budget and not get lured into impulse purchases.
DO NOT Cash in Points for Amazon Purchases!
Many credit card reward programs allow cardholders to redeem points for Amazon purchases, but GigaPoints data shows that the value is roughly half of what they could get by spending points in other ways. Each of the credit card programs allow transfers to airlines and hotels partners that have the potential to unlock significant value. Also, many programs allow points to be converted into either cash or travel bookings between 1 and 1.5 cents per point, a much higher value than redeeming points through Amazon.
| Rewards Program | Redemption Value at Amazon | GigaPoints Value Estimate |
|---|---|---|
| Chase Ultimate Rewards | 0.8 cents per point | 1.8 cents per point |
| American Express Membership Rewards | 0.7 cents per point | 1.7 cents per point |
| Citi ThankYou Points | 0.8 cents per point | 1.7 cents per point |
| Capital One | 0.8 cents per point | 1.2 cents per point |
| Hilton Honors | 0.2 cents per point | 0.4 cents per point |
“By being thoughtful in how consumers approach Amazon Prime Day deals, the savings event has the potential to be an even better deal for consumers,” said Budde.
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About GigaPoints
GigaPoints is a data-driven credit card comparison platform that gives consumers a fast, easy and secure way to get highly personalized credit card recommendations, so they can earn the most rewards possible for their spending. Launched in 2020, the company was built from Founder/CEO Erik Budde’s passion for helping consumers maximize their credit-card benefits. GigaPoint’s patent-pending technology analyzes a user’s spending, mapping it to hundreds of credit cards and their unique rewards systems.