Many products have been hit by rising inflation this year. Now, add Amazon Prime to the list. Yesterday, during a company earnings call, Amazon announced that Amazon Prime membership rates are going up.
The online purveyor of everything from self-help books to kitchen gadgets announced that in February 2022, the cost of an annual Prime membership will increase from $119 to $139. Amazon Prime members who pay monthly will see fees boosted from $12.99 a month to $14.99 a month. New Amazon Prime members will be charged the inflated price starting Feb. 18. Current members will see the higher price reflected around March 25, or whenever their membership renews.
If you’re a monthly Amazon Prime subscriber, now is a great time to switch to an annual membership: You’ll avoid a year of higher monthly fees, and save even more money on top of that.
Amazon Prime membership (1 year), $119
This is the first price hike for Amazon Prime since 2018. The company attributes the new price increase to growing wages and transportation costs.
While you can’t totally escape the Amazon Prime price increase, you can delay it — at least for a year. There is a way to lock in the old Amazon Prime price so you can keep paying $119 for access to Prime deals and two-day shipping on cute Valentine’s Day gifts and all the best TVs.
How to lock in the old Amazon Prime rate
You can’t renew an existing annual Amazon Prime membership early. But you can buy yourself a gift subscription to Amazon Prime for $119 and then activate it once your current membership expires. That means another 365 days at $20 less for continued access to Amazon Prime Video, Whole Foods deals, free Kindle books, Amazon Prime Music and more.
Amazon Prime membership (1 year), $119
Remember to disable auto-renew on your current subscription after purchase.
Amazon Prime alternatives
If the Amazon Prime price hike is just too much, one alternative is the lower priced Walmart Plus (or Walmart+). The monthly shopping membership is $12.95 a month, or $98 a year.
Walmart+ memberships grant free delivery from your local Walmart store, early access to Walmart deals, free shipping on any item with no minimum cost, member prices on gas (at participating stations) and money off on certain medical prescriptions.
Walmart+ is currently offering a 30-day free trial, though only paid subscribers can take advantage of early-access events (such as Black Friday deals and member-only PS5 restocks).
Walmart+ membership (1 year), $98
