Amazon Prime Memberships Will Soon Cost $139 a Year. Here Are 5 Ways to Get a Discount – Motley Fool

An Amazon Prime membership will soon cost more. Here are some ways to save money on the cost of a membership.

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Key points

• An Amazon Prime membership will soon cost $139 per year.
• To save on the cost, you can consider joining before the increase or splitting the fee with a roommate.
• It’s also worth checking if you’re eligible for a discount.

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If you’re an Amazon Prime member or have been thinking of becoming one, you’ll want to know about this news. Amazon recently announced its plans to increase its Amazon Prime membership price. Currently, it costs $119 per year or $12.99 per month to become a member. But that’s about to change.

Amazon Prime memberships will soon cost $139 per year or $14.99 per month. The increased price will apply to new members beginning Feb. 18, 2022. And the increase will go into effect for current members after March 25, 2022, on their next renewal date.

Amazon Prime is a convenient, time-saving service. Faster shipping speeds, free shipping, and the ability to order almost anything without leaving the house make the membership price worth it for many.

If you’re on a budget or want to cut back on unnecessary expenses, you may be wondering if there are any ways to avoid paying the higher membership fee. Luckily, there are a few ways to save money without giving up your membership benefits. Here are five of them.

Join before the price goes up

If you’re not currently an Amazon Prime member, you can snag the old membership price if you join before Feb. 18. Sign up for the yearly membership before this date, and you’ll get a year of Amazon Prime for $119. By doing this, you won’t have to worry about paying the increased membership price until 2023.

Gift yourself a membership at the old rate

Did you know that you can gift an Amazon Prime membership? If you’re already an active member and want to secure the old pricing for another year, you can buy a yearly Amazon Prime membership as a gift at the current rate.

Before Feb. 18, purchase a membership through Give the Gift of Prime and hold on to the email with the gift confirmation details. Cancel your current membership right before it renews and use your gifted membership details to complete your new membership sign-up.

Get a discounted student membership

You can take advantage of a discounted Amazon Prime membership rate if you’re a student. The current pricing for Prime Student is $59 per year or $6.49 per month. However, this will increase to $69 per year or $7.49 per month. Still, this is a great price.

You’ll need to have an email address that ends in .edu to verify your eligibility. If you’re a part-time or full-time student, this discounted membership program offers an easy way to save money.

Eligible government assistance program recipients pay less

Amazon offers discounted memberships to recipients of EBT, Medicaid, and some other government assistance programs. The current discounted monthly price is $5.99, while the new cost will be $6.99 per month.

Many participants of the following programs can also take advantage of this lower membership rate:

• Temporary Assistance for Needy Families (TANF)
• Women, Infants, and Children (WIC)
• Supplemental Nutrition Assistance Program (SNAP)
• Other state programs

It’s worth noting that members can’t pay their membership fees with an EBT card. However, you can use SNAP EBT to purchase eligible grocery items.

Share a membership

Another method to consider is splitting the cost of an Amazon Prime membership with a family member, friend, or roommate.

If you become a member at the current rate and split the cost with a roommate, you’ll each pay $59.50 per year. If you become a member at the increased rate and split the cost with a roommate, you’ll each pay $69.50 per year. Both options could save you a decent amount of cash.

If you’re a frequent Amazon shopper and want to earn rewards on your spending, you might consider applying for the Amazon Prime Rewards Visa Signature Card. You won’t get a free membership with this card, but as an Amazon prime member, you’ll earn an unlimited 5% back on Amazon and Whole Foods purchases.

Hopefully, the above tips can help you save a bit of money on the cost of an Amazon Prime membership. And that, in turn, could help keep a bit more of your hard-earned money in your bank account.