It seems like every week, we have to deal with another subscription service increasing its prices. Amazon Prime is the latest, but if you’re crafty, you can lock in the more affordable price for a little longer.
Amazon announced during an earnings report that it would increase the price of Amazon Prime from $119 to $139 per year. For monthly plans, the price will go from $12.99 per month to $14.99. Those don’t sound like huge increases, but with everything else that has gone up recently, it starts to add up in a big way.
Thankfully, there’s a way to secure another year of Amazon Prime at the lower $119 price. All you need to do is buy Prime as a gift. Once you have it, set your Prime subscription to not renew. To do this, you’ll need to go to your Account, then click Prime, then Manage My Membership. Once there, you can set your account not to renew automatically.
You’ll need to do this before the price increase starts, which is February 18, 2022.
Now that you’ve done that, just wait until your current subscription runs out and redeem the Prime gift you purchased to your own account. Now you’ll be locked into Prime for another at $119 instead of $139. You’ll have to pay full price next time, but at least doing this will save you $20.
Additionally, as noted by CNBC, you can get the highest Metro by T-Mobile cell phone plan and get Amazon Prime included. If you happen to be in the market for a new cell phone service, this might be a great way to get Prime without spending more.
If none of these work, you can actually cancel Amazon Prime and get a refund, as long as you meet certain requirements. The refund only works if you haven’t used your membership, but you can cancel either way.