Amazon to Hike Price of Prime Membership to $99, Old Rate in Play for a Week

Paul Lilly

The cost of an Amazon Prime membership is going up in 7 days

Amazon has been sending out emails to its Prime members to let them know that when it comes time to renew, they'll be charged a higher rate. Specifically, Amazon Prime will soon cost $99 for a year, a $20 jump over the previous price . Students will still receive a discount, though the price of a Prime membership will go up for them as well -- the new price is $49 per year, up $10 over the old price (the first 6 months is still free for new Student members).

If you plan on getting an Amazon Prime membership, you can still lock in one of the old rates for a year if you sign up within the next 7 days. In addition, you get a 30-day free trial.

Why the change? Amazon points out that its Prime membership costs the same as it did nine years ago. During that time, fuel and transportation costs have gone up, and Amazon has also added unlimited access to its Prime Instant Video service as part of its Prime membership.

If you're unfamiliar with Amazon Prime, members receive free two-day shipping on over 20 million qualifying items, unlimited instant streaming of 40,000 movies and TV episodes, and can borrow from over 500,000 Kindle titles. At $99 per year, users are essentially paying $8.25 per month (billed annually).

Image Credit: Flickr (Silus Grok)

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