Amazon Prime Price Increase and How to Save Money
If youre an Amazon Prime subscriber, you know how convenient it is to have access to free two-day shipping, video and music streaming, and other benefits. But in recent years, the price of an Amazon Prime subscription has risen.
The last Amazon Prime price increase was in 2018, and if history is any indication, there may be another one in the near future. If youre looking to save money, there are ways to lower the cost of your Amazon Prime subscription.
Last Amazon Prime Price Increase
In 2018, Amazon raised the price of its Prime subscription from $99 to $119 per year. The company cited increased shipping costs and expanded benefits, like free same-day delivery and greater video and music streaming options, as reasons for the price hike.
Benefits of Prime
Amazon Prime offers a host of benefits to subscribers. Here are some of the key ones:
Two-Day Shipping: This is perhaps the biggest draw of Amazon Prime. Subscribers get free two-day shipping on millions of items, with no minimum order amount required.
Video Streaming: Prime Video is a popular streaming service that offers access to a wide selection of movies and TV shows. Prime members can also access Amazons exclusive original content, like The Marvelous Mrs.
Maisel and The Man in the High Castle. Music Streaming: Prime Music offers a library of over two million songs, with no ads and unlimited skips.
Amazon Prime Price Increase: How Much? If Amazon does raise the price of Prime again, how much can you expect to pay?
Heres a look at the price increases from the last few years:
In 2018, Amazon raised the price of Prime from $99 to $119 per year (a $20 increase). In 2014, the company raised the price from $79 to $99 per year (a $20 increase).
In 2011, the price of Prime was $79 per year. So, if Amazon were to raise the price of Prime by $20 again in 2021 or 2022, the new price would be $139 per year.
If the increase is $13, the new price would be $132 per year. If the increase is $15, the new price would be $134 per year.
How Can I Lower the Cost of My Amazon Prime Subscription?
Monthly Subscriber to Annual Membership
If youre one of the many people who pay for Amazon Prime on a monthly basis, you may be paying more than you need to. An annual membership costs $119, while a month-to-month subscription costs $12.99 per month ($155.88 per year when you add it all up).
If you plan to use Amazon Prime for the long haul, switching to an annual membership can save you money.
Gift Membership
Another way to save on Amazon Prime is to purchase a gift membership for yourself. If you buy a gift membership before your current subscription expires, you can lock in the current price and keep it for another year.
Simply select the gift option and give it to yourself. Its a simple way to save some money.
Amazon Household
If you live with someone else who has Amazon Prime, you may be able to take advantage of the
Amazon Household feature. This feature allows two adults and up to four children to share a Prime membership, along with its benefits.
The best part? You dont have to combine your Amazon accounts, so you can still maintain your own purchasing history and preferences.
College Student
If youre a college student with a valid .edu email address, you can sign up for Amazon Student, which offers a free six-month trial of Amazon Prime. After that, youll pay $59 per year, which is 50% off the regular price.
This is a great option for students who need to purchase textbooks or other supplies.
Metro by T-Mobile
If youre a
Metro by T-Mobile customer, you may be able to get a discount on Amazon Prime. Depending on your plan, you could get a free subscription to Amazon Prime or a reduced price.
Free Trial
If you havent yet tried Amazon Prime, you can sign up for a free 30-day trial. Note that you should keep track of when the trial ends, as youll automatically be charged the subscription fee if you dont cancel before it ends.
Prime Rewards Visa Signature Card
If youre a frequent Amazon shopper, the
Prime Rewards Visa Signature Card can help you save money. The card offers 5% back on all Amazon purchases, as well as other benefits like 2% back on restaurant, gas, and drugstore purchases and 1% back on everything else.
Plus, theres no annual fee for the card (although you do need to be an Amazon Prime member to be eligible).
Walmart Plus
Finally, another option to consider is
Walmart Plus. Like Amazon Prime,
Walmart Plus offers free shipping, though it doesnt have as many perks as Amazon (for example, it doesnt offer video streaming).
The cost of a year of
Walmart Plus is $98, which is less than Amazons current price of $119.
How to Lock in the Old Amazon Prime Price Before the Price Hike
If youre worried about an upcoming Amazon Prime price hike, there are a few ways you can lock in the current price. Here are two options:
Check Your Prime Renewal Date
One simple way to ensure you keep your current rate is to check your Prime renewal date. If your subscription will renew before an expected price increase, youll be able to keep paying the current rate for another year.
Buy Yourself an Amazon Prime
Gift Membership
Another way to pay the current rate for another year is to purchase a gift membership for yourself. Simply buy a gift membership before the expected price increase, and when your current subscription ends, activate the gift membership and enjoy another year of Amazon Prime at the old price.
Alternative Option: Turn Off Auto-Renew and Activate
Gift Membership
Another option is to turn off auto-renew on your current Prime membership, and manually activate a gift membership that you bought for yourself before the price increase went into effect. This way, you can save money and still keep your Prime subscription.
In conclusion, Amazon Prime is a valuable service for many people, but the cost can add up over time. By using some of the strategies outlined above, you can save money on your subscription and continue to enjoy all the benefits of Amazon Prime.
Whether you sign up for an annual membership, purchase a gift membership, or take advantage of other discounts and options, there are plenty of ways to make Amazon Prime work for your budget.
Benefits of Amazon Prime Membership
Amazon Prime membership offers multiple benefits to its subscribers. Whether you’re an online shopper, movie lover, or music enthusiast, Amazon Prime has something to offer everyone.
Here are some of the main benefits of being an Amazon Prime member.
Two-Day Shipping
One of the most significant advantages of Prime membership is the free two-day shipping on over 100 million items. This is perfect for those who need their items shipped quickly, like last-minute birthday gifts or office supplies.
This feature is available to members of Amazon Prime, with no minimum purchase requirement.
Streaming Services
In addition to fast shipping, Prime membership offers access to streaming services like Prime Video and Prime Music. Prime Video offers a vast selection of movies and television shows, including Amazon originals like The Marvelous Mrs.
Maisel and other popular series like The Office. Prime Music has over two million songs and allows members to stream music ad-free.
New Expenditures by Amazon
When compared with other streaming service providers, Amazon is relatively new to the world of producing original content. However, the company’s investment in video streaming content has paid off with some fantastic shows and movies with significant production values.
Additionally, Amazon’s commitment to faster shipping times has led to increased spending on shipping and distribution.
Other Ways to Save on Amazon Prime Membership
There are several ways to save on Amazon Prime membership beyond just signing up for it. Here are a few options that may help you reduce your costs:
Share the Account
Amazon Household allows two adults and up to four children to share an account. This is an excellent way to share the cost of a single Prime membership with someone else.
Cancel Prime Membership and Use as Needed
If you’re an infrequent user of Amazon Prime, consider canceling your membership and only using it for times when you need shipping or streaming services. Amazon Prime membership is flexible and can be turned off and on at any time with no penalty, making this strategy easy to implement.
Sign Up for Free Shipping Over $35
Amazon often offers free shipping on purchases over $35, regardless of whether you have a Prime membership or not. While it’s not as fast as two-day shipping, it’s a great option for those who are willing to wait a little longer to save money.
Amazon
Prime Rewards Visa Signature Card
If you shop on Amazon frequently, consider signing up for the Amazon
Prime Rewards Visa Signature Card. This credit card offers 5% cashback on Amazon purchases, as well as other rewards like 2% cashback on restaurants, gas, and drugstore purchases and 1% cashback on non-Amazon purchases.
Switch to Competitor
Walmart Plus
Another option to consider is switching to
Walmart Plus, which offers free shipping on orders over $35, as well as other benefits like access to exclusive deals, discounts on gas, and mobile scan & go for in-store shopping. The cost of a
Walmart Plus membership is $98 per year, which is less than Amazon’s current price of $119 per year.
Walmart Plus also offers a free 30-day trial, so you can try before you buy. In conclusion, Amazon Prime membership has its advantages, but it comes at a cost.
However, users can minimize these costs by using the strategies discussed above like sharing the account, canceling when not needed, signing up for free shipping, using a credit card that offers rewards, or even switching to a competitor. Ultimately, the choice comes down to personal preference and usage, and determining what is most important to the user: fast shipping, access to streaming services, or other perks.
Conclusion
The main takeaway from this guide is that there are numerous ways to save money on Amazon Prime membership. From sharing accounts to switching to competitor services or using credit cards that offer rewards, these strategies can help you keep costs down while enjoying all the benefits of Prime.
However, it’s essential to note that the information provided in this guide is for general informational purposes only and may not be suitable for everyone. The strategies discussed in this guide may not be suitable for everyone, and results may vary based on individual needs and circumstances.
Therefore, it is crucial to understand that the information provided is not guaranteed and should not be considered investment or tax advice. The information contained herein should not be relied upon as a substitute for advice from a professional or financial advisor.
If you have questions about your finances or investments, it is crucial to consult an advisor before making a decision. They can better help you to understand your individual needs and provide appropriate guidance.
In summary, while there are many benefits to Amazon Prime membership, it comes at a cost. However, with the strategies discussed in this guide, you can save money and make the most of your membership.
Just be sure to consider your individual needs, evaluate costs versus benefits and watch for changes in pricing or features. Whatever you end up doing, make sure to read the fine print and stay informed your wallet will thank you for it!
In summary, Amazon Prime membership comes with numerous benefits, including fast shipping and streaming services, but it can be costly.
However, there are several strategies to save money, such as sharing accounts, switching to competitors, or using credit cards that offer rewards. It is essential to understand that the information provided is for general informational purposes only and may not be suitable for everyone, and it is advisable to consult a professional before making any financial or investment decision.
By weighing the costs versus benefits and monitoring changes in pricing or features, consumers can make informed decisions and maximize their savings.