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One of the best ways to earn passive income is to take advantage of your normal purchasing activities with a cash back rewards credit card. For Amazon Prime members and frequent Amazon purchasers, the Amazon Prime Rewards Visa Signature Card could be your passive income best friend.
With this credit card, Prime users can earn 5% cash back at Amazon.com, Whole Foods Market, and WholeFoodsMarket.com. For Amazon purchases that are greater than $149, credit card users have the option to choose six months of 0% financing or 5% cash back. For Amazon purchases that are greater than $599, users can choose between 5% cash back and 12 months of 0% financing. While it’s nice to have options, we recommend taking the 5% cash back to earn passive income and avoid possibly paying interest if you are unable to pay within the allotted time frame.
Some other perks include no foreign transaction fees, travel and emergency transaction assistance, and lost luggage reimbursement.
For those who are not Amazon Prime members, you can still earn 3% cash back on all Amazon and Whole Foods purchases with the Amazon Rewards Visa Signature Card. With either card, all users get 2% cash back at restaurants, gas stations, and drug stores, and 1% cash back on all other purchases. As an added bonus, there are no annual fees or foreign transaction fees.