Skip to main content

Amazon Pay ICICI Credit Card Review

If you are a frequent online shopper, you might have come across the Amazon Pay ICICI Credit Card. This is a co-branded credit card that offers benefits such as cashback, no-cost EMI, fuel surcharge waiver and more. But is it worth applying for? In this blog post, we will review the features, benefits and drawbacks of this credit card and help you decide if it suits your needs.


Features of Amazon Pay ICICI Credit Card


- The card is issued by ICICI Bank in partnership with Amazon India and Visa.

- The card has no joining fee or annual fee. You only need to pay the GST on the interest and other charges.

- The card offers 5% cashback on Amazon purchases for Prime members and 3% cashback for non-Prime members. The cashback is credited as Amazon Pay balance every month.

- The card also offers 2% cashback on Amazon Pay partner merchants such as Swiggy, BookMyShow, Yatra, etc. and 1% cashback on all other purchases.

- The card allows you to convert your purchases above Rs. 3,000 into no-cost EMI for up to 12 months.

- The card also offers a fuel surcharge waiver of 1% on fuel transactions up to Rs. 4,000 per month.


Benefits of Amazon Pay ICICI Credit Card


- The card is ideal for those who shop frequently on Amazon and use Amazon Pay for other transactions. You can earn up to 5% cashback on your spending and use it for future purchases or bill payments.

- The card also helps you save money on interest charges by offering no-cost EMI option. You can pay for your big-ticket purchases in easy installments without paying any extra interest.

- The card also saves you money on fuel expenses by waiving off the fuel surcharge. You can save up to Rs. 480 per year on fuel surcharge alone.

- The card also offers other benefits such as complimentary lounge access, dining discounts, travel insurance and more.


Drawbacks of Amazon Pay ICICI Credit Card


- The card has a high interest rate of 42% per annum. If you do not pay your bill in full every month, you will end up paying a lot of interest and negate the benefits of the card.

- The card also has a high cash advance fee of 2.5% or Rs. 300, whichever is higher. If you withdraw cash using the card, you will have to pay a hefty fee and interest from the day of withdrawal.

- The card also has a low credit limit compared to other cards. The credit limit is based on your income, credit score and spending pattern. If you have a low credit limit, you might not be able to use the card for all your purchases.


Conclusion


The Amazon Pay ICICI Credit Card is a good option for those who shop regularly on Amazon and use Amazon Pay for other transactions. You can earn cashback on your spending and enjoy other benefits such as no-cost EMI and fuel surcharge waiver. However, you should also be aware of the high interest rate, cash advance fee and low credit limit of the card. You should always pay your bill in full every month and use the card wisely to avoid getting into debt.

Labels:

Comments

Post a Comment

Popular posts from this blog

Review of Wealth Monitor App by Dezerv

If you are looking for a smart and easy way to manage your wealth, you might want to check out the Wealth Monitor app by Dezerv. Dezerv is a fintech company that offers personalized wealth management solutions for high net worth individuals. The Wealth Monitor app is one of their products that aims to help you track your portfolio performance, get insights on your asset allocation, and access expert advice from Dezerv's team of advisors. The app has a sleek and intuitive design that lets you view your portfolio summary, asset allocation, risk profile, and performance history at a glance. You can also drill down into each asset class and see the details of your holdings, such as the current value, returns, fees, and ratings. The app also provides you with personalized recommendations based on your goals, risk appetite, and preferences. You can easily adjust your portfolio allocation, rebalance your assets, or switch to different products with a few taps. One of the best features of ...
Post a Comment
Read more

Axis Magnus Credit Card vs HDFC Diners Black: Which One to Choose?

If you are looking for a premium credit card that offers you exclusive benefits and rewards, you might be interested in comparing the Axis Magnus Credit Card and the HDFC Diners Black Credit Card. Both these cards are among the top choices for high-end customers who want to enjoy perks such as lounge access, concierge services, golf privileges, and more. But which one is better for you? Let's find out. Axis Magnus Credit Card The Axis Magnus Credit Card is a metal card that comes with a hefty joining fee of Rs. 10,000 and an annual fee of Rs. 10,000 (waived on spending Rs. 15 lakhs in a year). The card offers you 12 reward points for every Rs. 200 spent and 2x points for online travel spends. You can redeem these points for flight tickets, hotel bookings, gift vouchers, and more. The card also gives you complimentary flight tickets worth Rs. 10,000 on joining and renewal, unlimited domestic lounge access, airport concierge services across 29 cities, and exclusive discounts at leadi...
Post a Comment
Read more

Review of Multipl App

If you are looking for a smart way to save and spend money, you might want to check out Multipl, a fintech app that lets you invest for your future expenses and get benefits from your favourite brands. In this blog post, I will review Multipl app and share my experience of using it. Multipl is a SEBI-registered app that allows you to create spending goals and invest for them in commission-free direct mutual funds, digital gold or directly with a brand. You can choose from over 100+ goals, such as travel, gadgets, home improvement, jewellery, insurance premiums, education, etc. or create your own custom goal. The app also partners with more than 70+ brands across various categories, such as MakeMyTrip, Myntra, Pepperfry, Livspace, Nike, Croma and more. When you select a relevant brand for your goal, you get brand co-investments every month, which are added to your savings and can be redeemed as gift cards or vouchers at the time of purchase. This way, you get additional savings of 5-20%...
Post a Comment
Read more