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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.

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