5 tips to maximize savings for Amazon October Prime Day

How to cancel an Amazon order
(Image credit: Shutterstock)

Today, Amazon kicked off its October Prime Day sale, offering discounts on thousands of products for Amazon Prime members. With everything from TVs to Pelotons on sale, it’s a great way to save big on holiday shopping way ahead of Black Friday. The sale will run from Oct 11th - 12th, so here’s how to maximize your savings for those two days. 

Just follow these quick tips. 

Get an Amazon Prime Free Trial

To take advantage of all the discounts offered on Prime Day, you’ll have to have an Amazon Prime membership. The cost of the membership is $139 a year or $14.99 a month. However, if you haven’t already in the past 12 months, you’ll also be able to get 30-day free trial, allowing you to save big without paying any additional costs. Just keep in mind that if  you sign up for the trial now, it won’t extend to Black Friday. 

You can also split the cost of a Prime membership by utilizing Amazon Household. This allows friends or family members to share access to Prime accounts.

If you've already used your 30-day trial, you may find that offsetting the cost of the membership is easy considering the massive deals Amazon is offering. Plus, you'll have access to a variety of benefits, most notably free, fast shipping. 

Compare prices for the best deals 

Although Amazon will have some of the best discounts on the market, its important to compare prices among retailers to make sure you’re getting the best deal around. For example, the Walmart Rollback sale is currently underway, offering deals on a variety of products, like the Apple Watch 8 at $349. Using a price comparison extension in your browser can make shopping for deals easier, saving you a lot of time and cash.  

CamelCamelCamel: This tracks prices of Amazon products and will notify you of price drops across the store, helping you get the best offers. Plus, you'll be able to view price histories of products to ensure the deal you're getting is actually good.

Honey: Honey is another browser extension that will help you find the lowest prices at Amazon, as well as search and apply coupon codes for you to find the biggest savings. 

Price.com: Created for comparison shopping, Price.com helps you find the best deal across stores. It'll find eligible coupons for purchases, notify you of price drops and offer cash back rebates as well.

Use the right credit card

A great way to maximize your savings during the Prime Day Early Access sale is to be strategic about which credit card you’ll be making your purchases with. Many of the best credit cards for Amazon offer generous cash back rates and 0% APR offers. 

For those who are already Amazon Prime members, one of the best cards to use at Amazon is the Amazon Prime Visa Signature card. With it, you’ll earn a cash back rate of 5% when making purchases at Amazon.com, allowing you to save even more on deals this Prime Day. If you're already a loyal shopper of Amazon.com, offsetting the cost of a Prime membership with this card shouldn't be hard, considering the generous rewards rate and Prime benefits you'll receive.

For those who don’t have a Prime membership, but want to maximize their savings on Amazon Prime Day, the Citi Double Cash card is a great option. With it, you’ll earn 2% back on all purchases, including those at Amazon.com. Plus, you won't have to pay an annual fee. 

Plan your shopping ahead of time

Planning purchases ahead of time will allow you to avoid overspending during Amazon Prime Day, maximizing the amount of money you save. Determining beforehand exactly what you’re shopping for and how much you plan on spending per item helps eliminate impulse purchases, which can be easy to make when so much stuff is on sale.

Having a budget going into Prime Day will allow you to walk away satisfied with your savings, instead of with buyer’s remorse. Go into the sale with a plan to keep spending under control- have a specific list of items you’re shopping for or stick to shopping in a certain category, avoiding categories in which you know you’ll be tempted to impulse buy. Your budget will thank you later. 

Download the Amazon app

Downloading the Amazon app can also help you maximize your overall savings during Prime Day. In the app, you’ll be able to view upcoming deals, including Lightning Deals, and when they’ll become active. This will allow you to plan purchases ahead of time and make shopping easier. Plus, you’ll be able to set up alerts to notify you when deals are going live, so you can get access to products before they sell out.

Enabling 1-click ordering also makes snagging the best deals easier, saving your payment information and shipping address to allow you to check-out with the click of a button. However, what’s great about the Amazon app is that if Lightning Deal products do sell out before you get a chance to add them to your cart, you’ll be able to join a waitlist for these items in the app. With many products hitting their lowest prices yet, you'll want to make sure to stay on top of deals so you don't miss out. 

Read Next: October Prime Day is here! But what time does the sale actually end?

Erin Bendig
Staff writer, personal finance

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.