Amazon and Chase introduced a new Amazon Prime Rewards Visa Signature Card last month, which allows you to get 5% cash back on all purchases on Amazon purchases. In addition, cardholders will get rewards of up to 2% cash back at restaurants, drugstores and gas stations. There’s also no cap on rewards earned, no annual credit card fee and zero fraud liability.
Existing cardholders of the Amazon Rewards Visa Signature card will automatically be upgraded to the new card that has several additional benefits. For example, there are no additional fees for overseas transactions, and the card itself has a new metal design. Existing cards will be temporarily upgraded to the new benefits until the new cards arrive.
This is yet another addition to the Amazon Prime line-up of freebies, so far numbering at least 21 popular services and benefits.
Why does Amazon keep adding benefit on top of benefit for Prime members? The answer is that Amazon Prime is a conduit to their retail portals. Prime members spend as much as two and a half times more on Amazon products than non-Prime shoppers.
That’s the only reason any company needs to keep investing in a revenue channel. But there’s more.
Amazon Prime represents the depth of hold that the company has on the U.S. retail market. It is already estimated that more than 50% of American households have at least one Prime member. That’s a huge achievement in the ten years or so that Prime has been around.
Not only is it an anchor for customers to stay with Amazon, but it offers genuine value that’s arguably far greater than any other loyalty program in the world today. From unlimited photo storage to unlimited music to unlimited books, free shipping is not the only lure of Amazon Prime.
From the customer’s perspective, the $99 annual fee or $10.99 monthly fee is easily compensate for by just the free shipping alone. But on top of that, there are numerous services that a lot of people don’t even use.
But the principles that Amazon uses as guidelines for everything it does says it all. Those principles are: “customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking.”
That’s Amazon in a nutshell – obsessed with customer experience, inventive approach, operational efficiency and a vision for the future. Thousands of companies around the world have better sounding corporate values, visions and missions, but with Amazon, the results of their guiding principles is amply clear for everyone to see.
And in the end, that’s what matters to the customer: action, not words.
Thanks for reading our work! Please bookmark 1redDrop.com to keep tabs on the hottest, most happening tech and business news from around the world. On Apple News, please favorite the 1redDrop channel to get us in your news feed.