Avoid these mistakes when shopping on Prime day
Not considering the Prime Visa credit card
If you shop a lot on Amazon, consider doing so with a Prime Visa credit card. This card was chosen as CNBC Select’s top pick overall for online shopping because of its strong cashback potential at Amazon and Whole Foods, in addition to not charging an annual fee (though it does require a Prime membership). On top of all that, this card earns 6% cash back on Prime Day purchases.
This card also earns an unlimited 5% cash back on all purchases on Amazon.com, Amazon Fresh, Whole Foods and through Chase Travel, 2% cash back at gas stations, restaurants and drugstores, and 1% on other purchases.
Prime Visa
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Rewards
5% cash back at Amazon.com and Whole Foods Market; 5% back on purchases made through Chase Travel; 2% back on local transit and commuting, including rideshare; 2% back at restaurants, gas stations and drugstores; 1% back on all other purchases
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Welcome bonuses
Earn a $200 Amazon.com gift card instantly upon approval.
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annual fees
$0 (but Prime membership is required)
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APR intros
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Regular APR
19.24% to 27.24% variable
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Balance transfer fee
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Foreign transaction fees
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credit needed
Paying the $139 annual Prime fee without considering alternatives
There’s one catch to the Prime Day festivities: Sales are limited to Amazon Prime members. If you’re not a member and feel put off by the $139 per year (or $14.99 per month) membership fee, you still have some ways to get a free Amazon Prime membership.
For example, you can sign up for a 30-day free trial if you haven’t been a member in the last 12 months or are new to Prime. Also, college students can sign up for a free six-month Amazon Prime Student trial.
You’ll need a valid credit card or a Venmo account in order to set up your trial. And, make sure to set a calendar reminder for when the free trial is over — you’ll be upgraded to a paid membership automatically when your trial ends to the tune of $14.99 per month for regular Prime members or $7.49 a month for Prime Student members .
Don’t have a free trial available? You can also offset the price of your first year of Prime membership with the Prime Visa card, which earns a $200 Amazon.com gift card on approval with no spending requirements.
Choosing the fastest possible shipping option if your item isn’t urgent
It’s no secret that Amazon is a strong option for fast shipping. But, if your Prime Day purchases aren’t urgent, you can earn rewards or save money by choosing no-rush shipping.
Going slow is especially enticing for Prime Visa cardholders, who receive an additional 1% back on eligible purchases with no-rush shipping, for a total of 7% cashback on Amazon purchases during Prime Day.
For those without the Prime Visa card, no-rush shipping can still be rewarding — Amazon offers either immediate discounts or automatic rewards that can be used on digital products (such as e-books, movies, and music) for choosing the shipping option during checkout .
Not considering other competing sales
Amazon’s Lightning Deals aren’t the only deals on the web (or in-store retailers, for that matter) this week. Target Circle Week and Walmart Plus Week will also bring sales that don’t require a paid membership to access. And those with store credit cards may find these sales even more compelling than those available from Amazon.
Target Circle Week is open to all Target Circle members, and unlike Prime, shoppers can join Target Circle for free. Deals include discounts on both Target brands and national brands such as Dyson, Keurig and more. Shoppers can anticipate discounts of up to 50% both in-store and online. Those who have a Target RedCard™ can take further advantage of this sale and save 5% on Target purchases made with the card.
Target RedCard™
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Rewards
5% discount at checkout on most purchases in-store and at Target.com
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Welcome bonuses
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annual fees
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APR intros
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Regular APR
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Balance transfer fee
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Foreign transaction fees
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credit needed
Walmart+ Week is also accessible to all shoppers from July 11 to 12 without an annual membership, though those with Walmart+ memberships will have early access to deals on July 10. The superstore is offering discounts on home items, apparel items and more. Using a Capital One Walmart Rewards® Mastercard® can earn you 5% back on Walmart.com including pickup and delivery orders.
Capital One Walmart Rewards® Mastercard®
Information about the Capital One Walmart Rewards® Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
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Rewards
Earn 5% cash back at Walmart.com, including pickup and delivery; 2% cash back on purchases in Walmart® stores, Murphy USA and Walmart® fuel stations, at restaurants and on travel purchases; 1% cash back everywhere else Mastercard® is accepted
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Welcome bonuses
Earn 5% back on purchases in Walmart® stores for the first 12 months when you use your card with Walmart Pay
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annual fees
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APR intros
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Regular APR
17.99% to 28.99% variable
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Balance transfer fee
3% of the amount of each transferred balance that posts at the promotional APR
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Foreign transaction fees
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credit needed
Skipping the comparison shopping or price research
Have your heart set on an item? Don’t assume that Amazon’s Prime Day prices are the best out there.
Make sure to comparison-shop for the same item with other retailers, since Amazon likely isn’t the only site slashing the price. Using an app like PayPal Honey can help you check prices from around the web easily.
PayPalHoney
On PayPal Honey’s secure site
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cost
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How to save
Get Honey Gold points on eligible purchases, automatic coupons and price comparisons.
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How to use it
Download the Honey app or install the browser extension.
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How to receive your savings
Redeem Honey Gold points for gift cards.
And just because an item’s on sale, that doesn’t mean it’s a good deal when you consider its recent price history. An app like Keepa helps you keep track of this information so you can cut through the marketing clutter to make an informed decision.
Buying items that are better priced during Black Friday or Labor Day
The mid-July sales season is a great time to stock up on some items, including school supplies and fitness trackers, but it might not be the best time for other purchases.
This isn’t the year’s last sale until the holidays — Labor Day, for example, is an excellent time to purchase large appliances and furniture. Bedding and mattresses also tend to have better sales during this end-of-summer holiday.
Those shopping for electronics might want to postpone their purchases for Black Friday and Cyber Monday, too — gaming consoles tend to be cheaper then. Other notable price cuts during the holidays include toys, kitchen supplies and dinnerware.
Shopping without a list
Navigating a sale as vast as Prime Day without a list can be not only overwhelming but also lead to overspending.
Ahead of the sale, make a list of the items you’re looking for that are well-priced during this time of year. Stick to your list as you shop.
Instead of scrolling endlessly through discounted items, bookmark products you’ve been eyeing, or add them to a wishlist. You can sign up to be notified when an item goes on sale and skip the temptation brought on by browsing the sales.
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Bottom line
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The Prime Visa has been collected independently by Select and has not been reviewed or provided by the issuer prior to publication; if you purchase something through Select links, we may earn a commission.
Editorial Notes: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s own, and have not been reviewed, approved or otherwise endorsed by any third party.