Amazon Pay ICICI Credit Card Review

In today’s digital era, online shopping has become a way of life for many people, and credit cards have revolutionized the way we make purchases. In this realm, the Amazon Pay ICICI Bank Credit Card has emerged as a game-changer. Created through a collaboration between ICICI Bank and Amazon India, this co-branded shopping credit card has captured the attention of online shoppers across the country.

The Amazon Pay ICICI Credit Card stands out from the crowd by offering a host of exciting rewards and benefits. Upon its launch, it quickly gained popularity among consumers, thanks to its unique features and attractive cashback offers. Initially introduced as an invite-only offering, it has now become accessible to all individuals seeking a rewarding shopping experience.

What makes this credit card truly remarkable is its ability to reward users with cashback in the form of Amazon Pay balance, which can be seamlessly utilized on the extensive Amazon India platform. This enables cardholders to maximize their savings and enhance their online shopping experience.

Furthermore, Amazon Prime members enjoy even more substantial benefits with this credit card. With the ability to earn up to 5% cashback on purchases made on Amazon, the largest e-commerce website in India, cardholders can unlock significant savings while enjoying a vast selection of over 16 crore products.

Apart from the enticing Amazon Pay cashback, the Amazon Pay ICICI Credit Card offers additional perks. This includes a 15% discount on dining bills at participating restaurants in ICICI Bank’s Culinary Treats program and a fuel surcharge waiver at petrol stations across the entire country.

In this review, we will delve deeper into the features and advantages of the ICICI Bank Amazon Pay Credit Card. By exploring its benefits, rewards, and overall user experience, you will gain a comprehensive understanding of this exclusive co-branded online shopping card and how it can enhance your shopping endeavors.

Features and Benefits

• Tailored for online shoppers: The ICICI Amazon Pay Credit Card is designed to cater specifically to the needs of online shoppers who frequent Amazon, providing them with a rewarding shopping experience.

Welcome Benefits

• Exclusive welcome benefits: Upon acquiring the ICICI Amazon Pay Credit Card, cardholders are entitled to exciting welcome benefits worth Rs. 1500, allowing them to kickstart their credit card journey with a bang.
• Complimentary Prime membership: Cardholders receive a complimentary 3-month Prime membership, granting them access to a wide range of premium benefits and services on the Amazon platform.

Flat Discounts and Cashback

• Discounts on bill payments and shopping: Users can enjoy a flat Rs. 150 off on their bill payment or first purchase on Amazon, adding value to their shopping endeavors right from the start.
• Cashback on utility bill payments: Cardholders can earn attractive cashback rewards on various utility bill payments. This includes 20% back up to Rs. 250 on electricity bill payments, 50% back up to Rs. 100 on prepaid mobile recharge, 25% back up to Rs. 300 on postpaid mobile bill payments, 10% back up to Rs. 125 on gas cylinder payments, 25% back up to Rs. 350 on broadband bill payments, and 25% back up to Rs. 100 on DTH recharge.

Dining Benefits

• Savings on dining bills: As part of ICICI Bank’s Culinary Treats program, cardholders can enjoy a minimum of 15% savings on bill payments at member restaurants, adding value to their dining experiences.

Fuel Surcharge Waiver and Cashback

• Convenient fuel surcharge waiver: Cardholders can avail a 1% fuel surcharge waiver at all fuel stations across India, provided that the transaction size does not exceed Rs. 4,000. This feature helps save on fuel expenses.

ICICI Amazon Pay Credit Card Rewards / Cashback

• Ultimate card for Amazon enthusiasts: The ICICI Amazon Pay Credit Card is undoubtedly the ultimate card for avid Amazon shoppers, particularly those who are Prime members, as it brings forth an array of enticing rewards.

Cashback on Amazon Purchases

• Exclusive cashback for Prime members: Prime members can enjoy a generous 5% cashback on all purchases made on Amazon India (amazon.in), making their shopping experience even more rewarding.
• Cashback for non-Prime users: Non-Prime users are not left behind, as they can still earn a commendable 3% cashback on their Amazon purchases, with the same exceptions as applicable for Prime members.
• Domain-specific cashback: It’s important to note that the 5% or 3% cashback on Amazon is applicable only to purchases made on Amazon India (amazon.in). For purchases made on other country-specific domains, including amazon.com, a cashback rate of 1% applies, aligning with the cashback rate for other online transactions.

Cashback on Partner Merchant Purchases

• Extra rewards with partner merchants: Cardholders can enjoy 2% cashback on purchases made from over 100 partner merchants when using the ICICI Amazon Pay Credit Card with Amazon Pay. This enhanced cashback rate is applicable only when utilizing the Amazon Pay option at the partner merchant’s website. For transactions made without Amazon Pay, the regular cashback rate of 1% is applicable.

Cashback on Other Transactions

• Universal cashback rate: The ICICI Amazon Pay Credit Card offers a standard 1% cashback on all other transactions, both online and offline, excluding payments made at fuel stations. This ensures that cardholders can earn rewards on a wide range of purchases, enhancing their overall savings.

With its exceptional rewards and cashback structure, the ICICI Amazon Pay Credit Card truly stands out as a top choice for Amazon enthusiasts, providing ample opportunities to earn valuable rewards while indulging in their shopping passions.

ICICI Amazon Pay Credit Card Fees and Charges

• Lifetime Free Card: The ICICI Amazon Pay Credit Card is a lifetime free credit card, which means cardholders are exempt from any annual or monthly membership fees.

Interest Rate

• Competitive interest rate: The card carries an interest rate of 3.5% to 3.8% per month (or 42% to 45.6% annually), ensuring cardholders have a competitive interest rate on their outstanding balances.

Cash Advance Charge

• Fee for cash withdrawals: Cardholders should note that a cash advance fee of 2.5% of the transaction amount (or a minimum of Rs. 500) is applicable when making cash withdrawals from ATMs using the ICICI Amazon Pay Credit Card.

Foreign Currency Mark-up

• Fee for foreign currency transactions: For transactions made in foreign currency using the ICICI Amazon Pay Credit Card, a forex mark-up fee of 3.5% of the total transacted amount is applicable. This fee ensures convenience for international purchases but should be taken into account when using the card abroad.

Card Replacement Fee

• Charge for card replacement: In the event of a lost or misplaced credit card, ICICI Bank charges a card replacement fee of Rs. 100 for issuing a new credit card to the cardholder.

Eligibility Criteria

To be eligible for the Amazon Pay ICICI Credit Card, applicants must meet specific income-based criteria, ensuring a seamless application process and increasing their chances of approval. The eligibility requirements are as follows:

• For ICICI Bank customers: If you are an existing ICICI Bank customer, you must have a minimum monthly income of Rs. 25,000 to be eligible for the Amazon Pay ICICI Credit Card. This criterion ensures that applicants have a stable financial standing before acquiring the card.
• For other applicants: For individuals who are not ICICI Bank customers, the minimum monthly income requirement to be eligible for the Amazon Pay ICICI Credit Card is Rs. 35,000. This criterion is slightly higher than the requirement for ICICI Bank customers, ensuring that non-customers demonstrate a higher level of financial stability.

How to Apply for Amazon Pay ICICI Bank Credit Card

Applying for the Amazon Pay ICICI Bank Credit Card is a straightforward process that can be done either through Amazon’s platform or ICICI Bank’s official website. The application is initiated once the Know Your Customer (KYC) verification is completed, and there are two methods to fulfill this requirement:

Video Mode Verification

• Convenient video-based verification: In the video mode verification, you need to provide your PAN card and Aadhar card details during the application process. Subsequently, an ICICI Bank official will connect with you for a video-based verification session. During this session, you will be asked a few simple questions, and you will be required to present the original copy of your PAN card to the bank official. This method offers convenience as the verification can be done from the comfort of your own home.

Offline Mode Verification

• In-person verification at your doorstep: If you choose the offline mode for KYC verification, a bank official will visit your provided address to carry out the verification process. You need to select this option during the credit card application. The bank official will validate your documents and ensure the necessary checks are completed for a seamless application process.

Pros of ICICI Amazon Pay Card

The ICICI Amazon Pay Card presents numerous advantages that make it a highly desirable credit card option for online shoppers, particularly those who frequently shop on Amazon. Here are the key benefits of the ICICI Amazon Pay Card:

• Lifetime Free Card: The ICICI Amazon Pay Card is a lifetime free credit card, ensuring that cardholders are exempt from any monthly or annual membership fees. This feature enhances the card’s affordability and makes it an accessible choice for a wide range of users.
• High Reward Rate: With the ICICI Amazon Pay Card, cardholders can enjoy a remarkable reward rate of 5% on purchases made on the Amazon India website or app. This incentivizes cardholders to maximize their shopping experiences on Amazon, offering substantial cashback on their transactions.
• Automatic Reward Points Transfer: The Reward Points earned on the ICICI Amazon Pay Card are seamlessly and automatically transferred as Amazon Pay balance. At the end of each payment cycle, the earned Reward Points are transferred to the Amazon account linked with the card. This streamlines the process of redeeming rewards and ensures a hassle-free experience for cardholders.
• No Capping on Amazon Pay Balance: One of the standout advantages of the ICICI Amazon Pay Card is that there is no maximum capping on the Amazon Pay balance that can be earned as cashback on the card. This means that cardholders have the opportunity to accumulate and utilize a significant amount of Amazon Pay balance, further enhancing their savings and purchasing power.

Cons of ICICI Amazon Pay Card

While the ICICI Amazon Pay Card comes with several enticing features and benefits, there are a few drawbacks that potential cardholders should consider before applying. Here are the cons of the ICICI Amazon Pay Card:

• Lower Reward Rate for Non-Prime Members: One of the limitations of the ICICI Amazon Pay Card is that the high reward rate of 5% on Amazon purchases is exclusively available to Amazon Prime members. Non-Prime members, on the other hand, are offered a lower reward rate of just 3% on their Amazon transactions. This discrepancy may deter non-Prime members from fully capitalizing on the card’s reward potential.
• Low Reward Rate on Non-Partner Spends: While the ICICI Amazon Pay Card offers a competitive reward rate on Amazon purchases, the reward rate on other non-partner spends is relatively low, set at just 1% of the purchase amount. This means that cardholders may not earn significant rewards when using the card for transactions outside of the designated partner network.
• Lack of Travel Benefits: Unlike some premium credit cards, the ICICI Amazon Pay Card does not offer any travel benefits such as complimentary lounge access at airports or railway stations. This absence of travel-related perks may be a disadvantage for individuals who frequently travel and seek additional privileges in their credit card offerings.

Also read:

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FAQs

Is there an annual fee for the Amazon Pay ICICI Credit Card?

No, the Amazon Pay ICICI Credit Card is a lifetime free credit card, which means there are no annual or monthly membership fees associated with it.

What is the reward rate on Amazon purchases with the Amazon Pay ICICI Credit Card?

Amazon Prime members enjoy a reward rate of 5% on purchases made on the Amazon India website or app. Non-Prime members receive a reward rate of 3% on their Amazon transactions.

Are there any travel benefits associated with the Amazon Pay ICICI Credit Card?

No, the Amazon Pay ICICI Credit Card does not offer any travel benefits such as complimentary lounge access at airports or railway stations.

Can I use the Amazon Pay ICICI Credit Card for transactions outside of Amazon?

Yes, the Amazon Pay ICICI Credit Card can be used for transactions both online and offline, including purchases from partner merchants. However, the reward rate on non-partner spends is 1% of the purchase amount.

Conclusion

The Amazon Pay ICICI Credit Card stands as a compelling choice for online shoppers, particularly those who frequent Amazon India. With its attractive rewards program, including a high reward rate on Amazon purchases and automatic transfer of earned points to Amazon Pay balance, the card offers a seamless and rewarding shopping experience. The absence of annual/monthly membership fees makes it a cost-effective option, and the additional benefits like dining discounts and fuel surcharge waivers further enhance its value.

While the card has its pros, it also has a few drawbacks, such as a lower reward rate for non-Prime members and a modest reward rate on non-partner spends. Additionally, it lacks travel benefits that are often associated with premium credit cards. Prospective cardholders should carefully consider these factors to ensure the card aligns with their spending habits and financial goals.

Overall, the Amazon Pay ICICI Credit Card caters to the needs of avid Amazon users, offering an avenue for earning cashback and maximizing savings on their online purchases. Its seamless integration with the Amazon ecosystem and the convenience of managing rewards through Amazon Pay balance make it a valuable tool for enhancing the online shopping experience.

Ultimately, individuals seeking a rewarding and tailored credit card for their Amazon purchases can find the Amazon Pay ICICI Credit Card to be a suitable and beneficial choice.

Author: Vedanti KiranVedanti is a female finance writer, currently pursuing her studies at Hansraj College. She has a passion for writing and travelling, and her articles on the stock market, finance, investment, and cryptocurrency are well-researched and informative. With her unique perspective on the world of finance, Vedanti is a go-to source for those seeking insights into the world of finance.