A co-branded shopping credit card called Amazon Pay ICICI Credit Card was just introduced on the Visa payment network by ICICI Bank in collaboration with Amazon India. It quickly rose to become one of the nation’s most popular credit cards for online shopping.
It used to be an invitation-only product, but it’s now available to everyone. The Amazon ICICI Credit Card rewards you with cashback in the form of Amazon Pay balance, which appears in your Amazon Pay balance, which is why it is so well-liked.
This credit card is even more beneficial for Amazon Prime members because you can earn up to 5% cash back on Amazon purchases, which, as you are probably aware, is the world’s largest e-commerce site with over 16 crore products.
In addition to Amazon Pay rewards, this card provides a number of other advantages, including a 15% meal bill discount at all eateries taking part in ICICI Bank’s Culinary Treats program and a waiver of fuel surcharges at all gas stations in India. Continue reading to learn more about this special co-branded credit card from ICICI Bank and Amazon for online shopping, and its unique name, which includes both parties: Amazon Pay ICICI Credit Card.
Amazon Pay ICICI Credit Card: Features
Once you possess the Amazon Pay ICICI credit card, there are many features or benefits that come with it; some of them are listed here.
- Users of Amazon Prime receive 5% back on all purchases made there (with a few exceptions). On Amazon, non-Prime customers receive 3% cashback as opposed to 5%.
- Only purchases made on Amazon India are eligible for further cashback on Amazon (amazon.in).
- With the Login with Amazon payment option, you may receive 2% cashback at more than 100 partner stores. Except for gasoline purchases, all other retail transactions get 1% cashback. Fuel purchases are exempt from the 1% fee.
- Reward points were added to your Amazon Pay wallet as cashback.
- Reward points earned on the card and transferred as an Amazon Pay balance have no expiration date.
- There is no minimum necessary to redeem rewards while using Amazon Pay ICICI Credit Card.
- As part of the bank’s Culinary Treats programme, dining benefits are provided.
- Cashback of 5%, up to Rs.
It is an entry-level co-branded retail credit card designed specifically to meet the demands of online customers who like making purchases from Amazon, as was already noted.
Despite having an Amazon co-brand and providing a high reward rate for purchases made at Amazon, this credit card is relatively simple and does not provide many other perks. For more details, continue reading our review of the Amazon Pay ICICI Credit Card:
Eligibility Requirements for the Amazon Pay ICICI Credit Card
The Amazon ICICI Credit Card was once an invitation-only product; only qualified Amazon users could move through with the application procedure and get an invitation for the card.
Since the card is now available to everyone who applies, you must meet the following income-based eligibility requirements before your application for an Amazon Pay Credit Card can be processed.
These requirements are :
- Monthly salary of 25,000 for ICICI employees and
- a monthly salary of 35,000 for everyone else.
Documents Necessary
For your application for an Amazon ICICI Credit Card to be completed, you will need to provide identification evidence, proof of address, and proof of income. The following papers are recognized as proof of identity, address, and income:
Accepted documents by document type:
- Aadhar cards, voter cards, PAN cards, passports, and driver’s licenses are examples of identity proof.
- Address verification options include an Aadhar card, voter card, phone or utility bill, passport, and driver’s licence.
- Income documentation Payslips and ITR acknowledgements
Fees & Charges for the Amazon Pay ICICI Credit Card
- Amazon Pay ICICI Credit Card has no annual or monthly fees because it is a lifetime free credit card.
- Interest Rate: The monthly interest rate on this credit card ranges from 3.5% to 3.8% (or 42% to 45.6% yearly).
- Cash Advance Cost: When using this card to withdraw cash from ATMs, you will be charged a cash advance fee of 2.5% of the transaction amount (or a minimum of Rs. 500)
- Foreign Exchange Markup On foreign exchange transactions done with an ICICI Amazon Pay Credit Card, a mark-up fee of 3.5% of the entire transaction value is charged.
- For issuing a new credit card in place of a lost or missing credit card, ICICI Bank charges a card replacement cost of Rs. 100.
Applying
The Amazon Pay ICICI credit card was initially a limited-access option, but it is now available to everyone. Both Amazon and the official website of the ICICI bank accept applications for this Card. Once the KYC verification is complete, the application is processed. The KYC verification for this card can be finished in one of two ways:
- Video Mode: After providing your PAN card and Aadhar card information, a representative from ICICI Bank will contact you to arrange a video-based verification. You must respond to a few straightforward questions and provide the bank representative with the original copy of your PAN card.
- Offline Method: A bank representative will visit you at your address to check your papers once you apply for a credit card and select the offline mode for KYC verification.
Benefits
- Lifetime Free Credit Card: No monthly or yearly membership fees are required for this fantastic lifetime free credit card.
- High Amazon Reward Rate On purchases made through the website or app of Amazon India, the card gives a high reward rate of 5%.
- Reward Points as Amazon Pay Balance: At the conclusion of each payment cycle, the Reward Points accrued on this card are automatically transferred as an Amazon Pay balance to the Amazon account associated with the card.
- There is no upper limit on the amount of AmazonPay balance that may be earned as cashback on your card.
Downsides of the Amazon Pay ICICI Credit card
- For Amazon Prime users, the ICICI Amazon pay Credit Card offers a high reward rate of 5%; however, the reward rate for non-Prime members is just 3%.
- Only 1% of other non-partner purchases earn rewards, which is quite low.
- There are no travel perks, such as free access to airport or train lounges, provided with this credit card.
Conclusion
For individuals who enjoy online shopping, especially on Amazon, and have a Prime membership, there is arguably no better credit card alternative because it gives you up to 5% cashback on all purchases made on Amazon India. It may be regarded as one of the greatest credit cards in India because it is a lifetime free credit card with so many distinct benefits.
The reward points are sent as cashback to your Amazon Pay balance and have limitless validity, which is another feature that distinguishes and makes this credit card so unique and profitable.
As it doesn’t provide any travel perks like air miles or access to lounges at domestic or foreign airports, this card might not be ideal for regular travelers.
