The price of Amazon Prime Membership will increase from $119/year to $139/year. The change will occur sometime in the next month or so (possibly on March 1, 2022).
There’s been speculation about a Prime rate increase coming soon in the media for the past month or two, but it was never confirmed by Amazon and no one had an exact number of how much it would be. I believe we’re the first one breaking this news in the entire media (as far as my google searching goes) which is surprising! Amazon may have not yet officially released the info, but they had to tell Student renewals the accurate price, per the image below, which is how we learned the information now coming out now. (thanks to reader Austin)
You can lock in the $119 price by purchasing a Gift of Prime membership. These cost $119 right now and they never expire – set your Prime membership not to auto-renew (affiliate link), and then when it expires you’ll apply the Gift of Prime to your account.
Direct Link to purchase Gift of Prime membership (affiliate link)
The beauty of this strategy is the Gift Of Prime membership comes with the option to convert into an Amazon gift card balance (with taxes included). So if you ever decide you don’t want Prime or don’t want to float the memberships you can always cash out the Gift of Prime cost as a gift card to your Amazon balance (or to anyone’s Amazon balance – it’s not tied to any single Amazon account, it’s like a fresh new Amazon gift card).
Also, Amazon allows the purchase of Gift of Prime with your Amazon balance. So if you already have a large Amazon gift card balance sitting there anyway, you’re not losing anything by purchasing the Gift of Prime memberships. Just be sure to save the emails or keep track of them so you don’t end up forgetting about it.
I plan on buying out many years of Gift of Prime. I’ll set myself an annual reminder before my Prime membership expiration date about the Gift of Prime cards sitting in my inbox, and I’ll also save the claim code elsewhere in case the email somehow gets lost. I never bothered with this in prior Prime price increases, and now I’m jealous of those who still have their $79 or $99 locked Gift of Prime purchases a number of years ago.