Lock in Current Price of Amazon Prime
Amazon is set to increase the price of its Prime membership for the first time since 2018. The company revealed the price hike in its latest earning report, citing the continued expansion of Prime perks, higher wages and increased transportation costs.
The price of the annual membership in the US will soon go up to $139 (previously $119). The higher rates kick in February 18th for new customers, but they won’t take effect for existing customers until they renew after March 25th. Prime’s price is not changing in other countries for now.
But for more than half of Prime members in the US, the price is actually going up to $180 per year. That’s because the monthly Prime membership rate is rising to $14.99 from $12.99. The company introduced the monthly subscription in 2016 to attract more low- and middle-class shoppers. Now 52% of subscribers pay the monthly price, according to Consumer Intelligence Research Partners. There are cheaper membership available for students and those with government assistance.
The price increase comes after Amazon’s net profit jumped nearly 57% in 2021 to $33.4 billion. The company has done quite well during the pandemic, as more people stayed home and turned to delivery services and home entertainment.
Lock In Lower Price for Amazon Prime
If you were thinking of trying Prime, you might want to sign up now (affiliate link) to get the current price for a year and save $20.
But even if you are a current Amazon Prime subscriber, you can lock in a lower price now for at least another year. If your Amazon Prime membership renewed recently, or will renew before March 25th, then this works best for you. If you’re not sure when your renewal date is, you can find it here (affiliate link).
You can lock in the current price by gifting someone a Prime Membership, or just gifting it to yourself. Just go to “Give the gift of Prime“ (affiliate link) and you can lock in the current price of $119 for your next renewal. You will be charged for the gift of Prime gift plus applicable taxes when you place your order, but you can set the gift date to a later time, just before your membership expires. Amazon will send your gift recipient an email on the day you choose along with redemption instructions. You can also send it now, but just make sure you don’t lose it or forget about it.
You can purchase more than one Gift of Prime as well. But you can only purchase one at a time, and each one must be sent to a separate email on a different date.
Make sure you have auto renew off so you don’t get charged the new $139 annual fee, or $14.99 monthly fee automatically. Once you current Prime membership ends, you can then use the gift of Prime. However, you should probably purchase Gift of Prime before February 18th. The price could go up to $139 after that.
Student and EBT Prime Memberships
Amazon also has two discounted Prime membership options. One is for students and the other for EBT/Medicaid and select government assistance recipients. These prices will go up as well, but they are still much more affordable.
- Prime Student (affiliate link)
- Annual membership: $59 now, going up to $69
- Monthly membership: $6.49 now, going up to $7.49
- EBT/Medicaid Prime (affiliate link)
- Monthly membership only: $5.99 now, going up to $6.99
With these memberships you get the same access as regular members of Amazon Prime. EBT memberships actually also receive additional, tailored perks and discounts including discounts on groceries and essentials like baby food and diapers. But although unlimited two-day shipping is available on eligible items, same-day or next-day shipping is not an options for the discounted memberships.
If you don’t want to pay anything at all, you can get started with a 30-day free trial (affiliate link). You are eligible for the tree trial if you haven’t been an Amazon Prime member in the last 12 months. You’ll be enrolled in the free trial of Amazon Prime and have access to FREE Two Day shipping, Prime Video, and Prime Music.
Amazon Prime Benefits
Check out all the Prime benefits below (affiliate links):
This is a big price increase of almost 17% for the annual Amazon Prime subscription. But at least you can lock in the current price of Amazon Prime through the Gift of Prime. You can purchase Gift of Prime with your Amazon gift card balance. And, if you decide not to use it to renew your membership, you can always cash it into your Amazon gift card balance.
This is also a good time to look at how much value you actually get out of this subscription. If you have been using Prime for more then a year and continue to do so, then definitely switch from monthly to an annual membership.
Amazon Prime offers fast, free delivery on most orders, thousands of movies and TV shows with Prime Video, millions of songs, free Kindle e-books, unlimited photo storage, exclusive access to deals, Twitch, and much more. That’s a lot of perks, but they’re only worth the price tag if you actually need them and use them.
Will you continue paying for an Amazon Prime subscription even at $139 per year? Let me know in the comments.Rakuten, TopCashback, RebatesMe and more for possible cashback.