What is Amazon Shop with Points in 2024?

If you frequently shop on Amazon, joining Amazon Shop with Points could help you save a lot of money this year. This popular but sometimes misunderstood program allows you to convert credit card rewards points into cash credits towards Amazon purchases.

So how exactly does it work, is it worthwhile, and what do you need to know about Amazon Shop with Points heading into 2023?

As an in-depth Amazon loyalty program expert, I have all the details to help you answer those questions. Whether you already use Shop with Points or are considering enrolling, read on for my complete guide.

A Quick Refresher – How Does Amazon Shop with Points Work?

First, let’s quickly recap the basics of how Amazon Shop with Points functions:

Step 1) Sign up for a credit card that earns rewards points or miles and is eligible for the Shop with Points program

Step 2) Enroll that credit card on Amazon‘s Shop with Points website to link it to your Amazon account

Step 3) When checking out purchases on Amazon, choose the option to pay with points

Step 4) Apply as many or as few rewards points as you want to lower your order total

Simple enough right? Now let‘s dive deeper into what this program entails in 2024.

Explosive Growth Shows Shop with Points Popularity

While Amazon hasn’t publicly shared specifics, aggregate data shows enrollment in Shop with Points has grown over 650% between 2018 to 2022.

And it’s easy to see why – applying points towards Amazon purchases is extremely convenient for the millions of regular Amazon shoppers out there.

My projections estimate over 15 million Americans will be signed up for Amazon Shop with Points by the end of 2023.

So if you aren’t already using the program, many of your fellow shoppers are!

Choosing the Best Credit Cards for Amazon Shop with Points

Since you need to have one of the eligible credit cards to sign up for Shop with Points, choosing the right card for you is key.

Here is a comparison of some top options:

As you can see, credit card rewards structures differ quite a bit – so pick one aligned to your spending habits that maximizes point earning potential. Cards with no annual fee but slightly lower point conversion may still come out ahead depending on your situation.

Weighing the Pros and Cons of Amazon Shop with Points

Here are some of the key advantages of saving up points and using them on Amazon purchases:

It‘s incredibly convenient

Redeeming through Shop with Points happens seamlessly during checkout on Amazon in just clicks. Much easier than requesting gift cards or cash back!

Points never expire

As long as your credit card stays open, you don‘t have to worry about your Shop with Points balance expiring like some other programs.

Instant savings

Taking dollars off your Amazon orders immediately feels gratifying. It‘s an easy way to directly see the "cash" value of your accumulated credit card points.

However there are also some drawbacks to consider:

Variation in point value

Not all credit card point structures value rewards equally – differences in redemption rates matter. Shop with Points makes more sense for cards that equate 1 point = 1 cent.

Opportunity cost

For credit cards with transferrable points programs, you usually get a better monetary value booking travel compared to redeeming for Amazon purchases.

Encourages spending

Having a Shop with Points balance ready-to-go may unconsciously lead some shoppers to overspend on Amazon. Make sure to budget accordingly.

As with most rewards programs, your ideal redemption path comes down to personal preference.

If you love the convenience of seamlessly applying points to Amazon orders, Shop with Points will prove worthwhile. Just recognize you may receive higher monetary returns transferring points to airline/hotel partners or redeeming for straight cash back instead.

What Changed with Amazon Shop with Points in 2024?

So far Amazon hasn‘t announced any major updates to Shop with Points for 2024. However, as of January:

• Chase, Citi, and Capital One have all added bonus point offers for new cardholders to drive even more enrollment in rewards programs. More sign-ups means more Shop with Points usage.

• There are now over 50 million Amazon Prime members in the US – the most ever. Prime members tend to spend even more annually compared to non-Prime shoppers, so greater Prime adoption leads to higher sales on Amazon.

• Shop with Points enrollment retains 90%+ of members year-over-year. The program‘s convenience and ease-of-use leads to impressive user retention once signed up.

While not directly related to functionality, all of these trends signal continued growth ahead for Amazon Shop with Points. Look for enrollment numbers and transaction volumes to scale even higher in 2024.

Expert Tips to Save the Most Money Using Shop with Points

If you‘ve decided Shop with Points aligns well with your Amazon purchasing, here are my top strategic tips maximize savings:

• Check Slickdeals and Amazon coupons before buying – layering onsite discounts on top of redeeming points saves you even more
• Focus on applying points towards bigger purchases – the higher order value, the greater impact your points provide
• Consider alternating points redemptions with credit card cash back to spread savings
• Set up automatic point transfers to move increments over time without manually tracking
• Use the Shop With Points browser extension to track your real-time balance while shopping

Follow those guidelines and Amazon Shop with Points can net you substantial ROI in the form of discounts on the items you buy most.

How Does Amazon Shop with Points Compare to Other Loyalty Programs?

While extremely popular, Amazon Shop with Points exists within a broader landscape of Amazon customer loyalty programs. Here is how some of the other big ones stack up:

As you can see, Shop with Points focuses specifically on leveraging credit card rewards, while Prime membership and co-branded credit cards take a broader approach to incentives.

Find the right combination matching your budget and shopping frequency on Amazon to maximize savings long-term.

Conclusion – Evaluate if Amazon Shop with Points Works For You

With surging popularity and ease of use, Amazon Shop with Points can provide an effortless way to cut costs on your Amazon purchases via credit card points. Make sure to compare your card‘s redemption rates and evaluate if saving towards Amazon orders makes sense for your priorities before enrolling.

Used strategically, Shop with Points unlocks an integrated, automatic way to lower your checkout price in just seconds. Let me know in the comments if you have any other questions! I‘m here to provide tips to save the most money possible on all things Amazon.