Quick Summary
The Amazon Prime Store Card is a credit card that can only be used on Amazon for purchases. You cannot withdraw cash or get cash advances directly from the card. However, you may be able to get cash by making an Amazon purchase with the card and then returning the items for an Amazon gift card balance, which you can then exchange for cash. The methods for doing this are limited and variable based on your situation. Generally, it is not recommended to get cash advances or withdrawals from credit cards due to high interest rates and fees.
What is the Amazon Prime Store Card?
The Amazon Prime Store Card is a credit card offered by Synchrony Bank in partnership with Amazon. It provides Prime members with 5% back on Amazon purchases and select Whole Foods Market purchases as rewards. The card can only be used on Amazon and Whole Foods – it cannot be used anywhere else or for cash advances. Key features of the Amazon Prime Store Card:
- 5% back on Amazon and Whole Foods purchases
- No annual fee
- Special financing offers on Amazon purchases
- No foreign transaction fees
- Must have an Amazon Prime membership to qualify
- Can only be used on Amazon and Whole Foods, no cash advances
The main benefit of the card is the 5% back rewards on Amazon purchases. It’s best for those who frequently shop on Amazon and want to maximize rewards. The major disadvantage is that it cannot be used anywhere else besides Amazon and Whole Foods.
Can I withdraw cash directly from the Amazon Prime Store Card?
No, there is no way to directly withdraw cash or get cash advances from the Amazon Prime Store Card. The card can only be used to make purchases on Amazon.com and at Whole Foods Market. There is no option to withdraw cash from ATMs or bank tellers with the card. Cash advances and withdrawals are not available. This is stated clearly in the Amazon Prime Store Card terms and conditions. If you attempt to get a cash advance, the transaction will be declined.
Why can’t I get cash from the Amazon Prime Store Card?
There are a few reasons why Amazon prohibits cash advances and withdrawals with the Prime Store Card:
- It’s a store card that is limited to Amazon purchases only. Store cards are credit cards tied to a particular retailer and can generally only be used at that retailer.
- Cash advances typically incur higher interest rates and fees compared to normal purchases. Amazon wants to avoid customers getting hit with these extra costs.
- Removing the cash advance functionality reduces the risk of fraud or abuse of the card for purposes outside of Amazon purchases.
- The card is designed to incentivize shopping on Amazon, not provide general spending flexibility like a regular credit card.
By restricting the card to only Amazon purchases, Amazon can offer rewards and financing incentives to encourage customers to shop on Amazon while also reducing risks and operating costs associated with cash advances.
Can I buy Amazon gift cards with the card to get cash?
Yes, you can use your Amazon Prime Store Card to purchase Amazon gift cards. The gift card balance can then be exchanged for cash in a few different ways:
- Sell the gift card to a gift card exchange service. Sites like CardCash, Raise, and GiftCardGranny allow you to sell your unwanted gift cards for cash.
- List the gift card for sale on a marketplace site like eBay, Craigslist, Facebook Marketplace or OfferUp.
- Swap the gift card for cash using a peer-to-peer gift card exchange platform like CardSwap or GiftCards.com.
- Use the gift card balance to buy items you need on Amazon and then return those items for an Amazon refund. The refund will go back to your original payment method (in this case, the Amazon store card).
The viability of these options depends on the gift card exchange rates and terms, willingness of buyers on marketplace sites, and Amazon’s return policies. There may be limits or fees involved with exchanges, so check details carefully.
What are the downsides of getting cash from the Amazon Store Card via gift cards?
While it is possible to buy Amazon gift cards with your Prime Store Card and then exchange them for cash, there are some drawbacks to consider:
- Reduced value – Most gift card exchanges offer less than face value of the card. You may only get 80-90% of the card value in cash.
- Gift card exchange fees – Many cash-back services charge transaction fees that further reduce your payout.
- Inconvenient and time consuming – It takes extra steps and time to execute this process.
- Risk with marketplace sales – No guarantee someone will buy your gift card listing.
- High interest charges – Cash advances incur credit card interest immediately with no grace period.
- Impact on credit – Cash advances lower your credit score and increase your credit utilization.
Because of the costs and effort involved, getting cash is likely not worth it in most cases. The 5% rewards from Amazon purchases will generally provide more value than exchanging gift cards for cash through these methods.
Alternatives for getting cash from an Amazon Prime Store Card
If you have an Amazon Prime Store Card and need access to cash, here are some alternatives to consider instead of doing gift card exchanges:
- Standard cash advance – While not available with the Amazon card, regular credit cards allow cash advances, though at high interest rates.
- Personal loan – An unsecured personal loan from your bank provides cash up front at better rates than credit card advances.
- Retail store card – Some retail cards still allow cash advances, but terms vary widely.
- Credit card with rewards – Open a Visa or Mastercard that allows cash advances and also earns rewards on purchases.
- ATM withdrawal with debit card – A debit card tied to your bank account provides cash access at ATMs.
- Peer-to-peer payment apps – Apps like Venmo or PayPal let you receive funds from friends/family that can be used like cash.
The best option depends on your credit, interest rates, urgency of getting cash, and willingness to open new accounts. Check all fees, rates, and terms before pursuing any of these alternatives.
Conclusion
The Amazon Prime Store Card does not allow cash advances or withdrawals of any kind. While you can buy Amazon gift cards to exchange for cash through secondhand gift card platforms, the value will be less than face value. You’ll also incur fees and spend time executing transfers. For most customers, it is not recommended to buy gift cards with the Prime Card for getting cash due to the high costs. If you need emergency cash access, alternatives like a personal loan or standard credit card cash advance would be better options to explore. The Amazon Prime Store Card is designed solely forAmazon purchases and does not provide any direct cash or ATM functions.
