Amazon Prime Day Is Coming in October. Here's One Credit Card Worth Applying for to Use

Many consumers were super excited to learn that Amazon would be hosting a second Prime Day event in 2023. The shopping extravaganza is being dubbed Prime Big Deal Days, and consumers will be privy to savings galore on Oct. 10 and 11.

You may be eager to take advantage of October's Prime Day event. But before you make plans to buy up a storm, do take a little time to assess your financial picture.

If you're already in debt, it's not a great idea to add to that pile -- especially right ahead of the holiday season, where spending money may be unavoidable. But if you have money in the bank earmarked for holiday gifts and purchases, then it definitely pays to see what deals Amazon releases next month.

In fact, it's a good idea to make a shopping list ahead of Prime Big Deal Days so you can focus on the items you want or need, and so you're potentially less likely to get distracted and waste money on things that aren't a priority. But that's just one way to prepare for the big event. You may also want to apply for one specific credit card that could really help you make the most of October's Prime Day sale.

A card worth having if you shop on Amazon a lot

If you're someone who shops on Amazon frequently and you're planning to do your fair share of shopping this October, then it could pay to apply for the Prime Visa. Many credit cards offer cash back on purchases. But the Prime Visa offers an impressive 5% cash rewards on purchases made on Amazon, as well as Whole Foods, which Amazon owns. (Granted, you might need the cash back to be able to afford groceries there, but that's a different story.)

The Prime Visa also offers 5% back on Chase Travel purchases and 2% back on gas, local transit, rideshares, and drugstore purchases. And you'll be eligible for 1% back on all other purchases. Plus, unlike other credit cards where you have to wait to get access to your cash back, the Prime Visa lets you redeem yours as soon as the next day.

A good reason to apply ASAP

Not only could charging your October Prime Day purchases on your Prime Visa result in extra cash back, but new cardholders are eligible for a one-time $100 Amazon gift card upon getting approved for the Prime Visa. That reward will be automatically loaded to your Amazon account so you can use it right away. Having that extra cash to work with could help you better take advantage of the October Prime Day deals that are apt to come down the pike.

Plus, the Prime Visa has no annual fee. So if you manage to pay your balance on time and in full every month, you can use the card without it costing you anything. You do have to maintain your Prime membership to be eligible for the card, however.

You may be psyched to participate in Prime Big Deal Days this October. So now could be a great time to apply for the Prime Visa if you're not a cardholder already.