Amazon Pay ICICI Bank Credit Card: A Detailed Review
Amazon Pay ICICI Bank Credit Card: A Comprehensive Review
The Amazon Pay ICICI Bank Credit Card is a co-branded credit card designed for online shoppers, particularly those who frequently use Amazon.in. This in-depth review will examine its features, benefits, drawbacks, and compare it to similar offerings, helping you decide if it's the right card for you.
Key Features and Benefits
- Lifetime Free Card: No annual fees.
- High Cashback on Amazon: 5% cashback for Prime members and 3% for non-Prime members on Amazon.in purchases.
- Cashback on Partner Merchants: 2% cashback on payments made to Amazon Pay partner merchants (e.g., BookMyShow, Yatra).
- 1% Cashback on Other Spends: A modest 1% cashback on all other transactions.
- Amazon Pay Balance Redemption: Cashback is credited directly to your Amazon Pay balance.
- No Expiry on Cashback: Your Amazon Pay balance doesn't expire.
- Fuel Surcharge Waiver: 1% fuel surcharge waiver (excluding cashback earning).
- No-Cost EMIs: Available for Amazon purchases above ₹3,000.
- Attractive Welcome Benefits: Up to ₹2000 in cashback on initial spends.
Detailed Cashback Structure
| Transaction Category | Cashback Rate (Prime Members) | Cashback Rate (Non-Prime Members) |
|---|---|---|
| Amazon.in Purchases | 5% | 3% |
| Amazon Pay Partner Merchants | 2% | 2% |
| Other Spends (Online & Offline) | 1% | 1% |
| Fuel Transactions | 0% (1% fuel surcharge waiver) | 0% (1% fuel surcharge waiver) |
Drawbacks
- Limited Benefits Outside Amazon: Cashback is significantly lower on non-Amazon spends.
- High Foreign Currency Markup: 3.5% on international transactions.
- No Travel Benefits: No airport lounge access or other travel perks.
- Limited Welcome Offer Duration: This is a temporary benefit.
Comparison with Flipkart Axis Bank Credit Card
A strong competitor to the Amazon Pay ICICI Bank Credit Card is the Flipkart Axis Bank Credit Card. Both cards offer high cashback rates on their respective platforms, but cater to different user preferences.
| Feature | Amazon Pay ICICI Bank Credit Card | Flipkart Axis Bank Credit Card |
|---|---|---|
| Primary Platform Cashback | 5% (Prime), 3% (Non-Prime) on Amazon.in | 5% on Flipkart |
| Annual Fee | Nil | ₹500 (often waived with high spending) |
| Other Benefits | Partner merchant cashback, fuel surcharge waiver | Partner merchant cashback, airport lounge access (with spending conditions) |
| Cashback Redemption | Amazon Pay Balance | Statement credit |
Should You Get the Amazon Pay ICICI Bank Credit Card?
The Amazon Pay ICICI Bank Credit Card is an excellent choice for:
- Heavy Amazon users (especially Prime members).
- Individuals who value cashback over other credit card perks.
- Those seeking a lifetime-free credit card with no annual fees.
However, it might not be ideal for:
- Frequent international travelers.
- Those who prefer a broader range of benefits (travel, entertainment).
- Shoppers who primarily use platforms other than Amazon.
Other Similar Cards
Consider exploring alternatives like the Cashback SBI Card, Axis Bank ACE Credit Card, and HDFC Millennia Credit Card for different cashback structures and benefits.
Conclusion
The Amazon Pay ICICI Bank Credit Card is a powerful tool for maximizing savings on Amazon purchases. Its simplicity and high cashback rate for Prime members make it appealing. However, carefully weigh its limitations against your spending habits and credit card priorities before applying.
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