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It seems that your Amazon Prime membership is not immune to the rising prices that we see on many other products and services lately.
Last week Amazon announced in their annual company earnings call that it would be raising the price on it's Prime membership from $119 to $139 a year. For Prime members who pay monthly, the price will jump from $12.99 to $14.99.
Beginning on February 18th, 2022 new members will be charged the new higher rate, CBS Essentials reported. Current members will see the price hike starting March 25th, or at the time of the regular annual renewal.
HOW TO LOCK IN THE OLD RATE...FOR NOW
There are a couple things that you can do to save some cash according to CBS Essentials.
First, if you are a current MONTHLY Prime members, switch to an annual membership. This will lock you in at the current rate of $119 for the next year, plus you will also save over paying month to month.
If you already pay by annual subscription, you can't avoid the price hike completely, but you can postpone it. Since you cannot renew your subscription early, CBS Essentials suggests purchasing a gift subscription for $119 and then activate it when your current subscription expires, saving you $20 over the next year.