• Welcome to the Crispy Money forums, a community of people who share their experience with investing, saving money, earning tips, avoiding scams and living life to it's fullest.
    To start posting in our forums, and comment on articles and blogs please register free by clicking here.

2% Cash Back For Amazon Prime Members

  • Author Author Ken Payne
  • Create date Create date
  • Blog entry read time Blog entry read time 1 min read
Amazon has introduced a new feature for Prime members. You will 2% cash back on items you purchase with a debit card versus other payment methods.


dollar-1362243_640.jpgThere are some caveats to this. First, you must link your bank account to Amazon, and for fraud protection, they'll need a copy of your driver's license. Then you load money from your debit card into a virtual Amazon Gift card. When you make purchases with this gift card you'll receive 2% cash back.


This is a great deal, considering it's "free" money if you were going to purchase something from them anyway. So what's in it for Amazon? First, I suspect they'll make a little interest on the "float" of money sitting in your virtual gift card. Second, credit card processors charge companies an interest fee for every transaction. Debit cards and bank transfers have no fees.


It's a win-win for both the customer and Amazon.

Image: CC0 Public Domain, Free for commercial use, No attribution required https://pixabay.com/en/dollar-money-president-of-the-u-s-a-1362243/

Comments

There are no comments to display.

Blog entry information

Author
Ken Payne
Read time
1 min read
Views
77
Last update

More entries in News

More entries from Ken Payne

Back
Top