Amazon Is Increasing the Price of Prime Membership—Here’s What We Know About the Change
But there's a way to beat it.
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Price increases have become common in the last year or two, partly because of pandemic-related issues. Netflix raised its prices not too long ago and food shortages caused by supply chain snags mean higher prices at the grocery store.
Now, it seems the price increases have even caught up with Amazon. In a recent earnings report, Amazon announced a Prime membership increase—and the price will start going up this month.
How Much Is a Prime Membership?
The increase will add $20 to your annual Prime subscription, bringing the price up to $139 from $119. If you have a monthly subscription, your charges will go up to $14.99 per month from $12.99, bringing your annual total to approximately $180. Students, who enjoy a discounted rate for Prime, will see an increase of $10, bringing their charges up to $69 from $59.
The price changes will go into effect starting February 18, 2022, for new subscribers. Existing subscribers will pay the new rates after March 25, 2022, when their subscription is up for the year, on the date of their next renewal.
With prices going up overall, even small changes like this can have a big impact on our wallets. If you’re budget-conscious and want to keep an eye on your expenses, you could opt out of your Amazon Prime subscription. However, for most of us, two-day shipping and Amazon’s extensive selection of items, not to mention their video and music library, is a good enough reason to stick with it. If you can’t do without, consider splitting your Amazon account with family or friends.
You can also use a handy hack to stay at the current rate for another year.
How to Keep Your Rate for Another Year
This tip comes to us courtesy of the Krazy Coupon Lady. You’ll have to move fast on this one, but it’s easy to do. Just buy a Prime Gift Membership before February 18, then go to the “Manage Your Membership” page from the Prime homepage. Look for your renewal date, then use the link below it to turn off auto-renewal. When your membership expires, use the Prime Gift Membership—and voila, another year of Prime at $119!
Don’t forget to check out how to save money on everyday things. Next, check out the best Amazon Prime Day Deals of 2022.