ICICI Bank Launches Amazon Pay Credit Card – Save 5% on Amazon Spends

By | October 30, 2018

As you might know, ICICI bank has been working close with Amazon for quite sometime by running “Amazon Super Value Day Offer” every month and now they’ve taken their partnership to a whole new level.

We do currently have Axis Buzz credit card with a similar partnership with Flipkart store but it never became that popular. Even HDFC bank too has Snapdeal credit card but as Snapdeal customer base is too low compared to the giants, it never became talk of the country either.

ICICI bank on other hand nailed it so well and created an amazing product after a long time for the mass population. If i understand it right, this is going to help a LOT of non credit card shoppers to get into the credit card system. Lets look into what the card has to offer,

  • Joining/Annual Fee: Nil

ICICI Bank Amazon Pay Credit Card

Amazon Pay Credit Card Benefits

  • Earn 5% back on Amazon.in for Amazon Prime customers
  • Earn 3% back on Amazon.in for non-prime customers
  • Earn 2% back on 100+ Amazon Pay partner merchants
  • Earn 1% back on all other payments
  • Type of Reward system: as Amazon Pay balance
  • Upper Cap: No limit

Neat & simple – the type of cards that i wish to have from ICICI bank. 5% savings with no capping (make hay while sun shines) is AMAZING and even 1% savings on all other spend is far better compared to other credit cards in the segment.

The bank has also done so well by taking advantage of the Amazon Pay system for rewarding the customers seamlessly.

While that’s so good to hear, in terms of returns, it cannot get near the HDFC’s 10X offer with Amazon, but considering a card for a beginner with better liquidity, ICICI’s offering remains one of the best in its category.

Amazon has clearly understood the potential of Indian market very well that they’ve given us better savings compared to their credit card offering in USA.

How to Get it?

The select ICICI bank customers will be able to see their invite on the Amazon app. They can apply for the card immediately to get a ready-to-use digital card instantly, in a completely digital and paperless manner, physical card will be sent in a week time.

“At the moment it is open to only ICICI Bank customers who have a depth of relationship with Amazon. And in about 60 days we will start offering it to non-ICICI Bank customers who have a history with Amazon,” said Sudipta Roy, General Manager & Head – Unsecured Assets & Cards, ICICI Bank.

Bottomline

After ICICI Jet Sapphiro Amex credit card, this is the second best credit card you can get with ICICI Bank. ICICI Bank has always been in the market to cater to the beginners.

For ex, their lifetime free ICICI platinum credit card is one of the successful credit card for the bank just because it was given free. They probably used the data very well to make the Amazon Pay card Free so that they could acquire more customers.

  • Cardexpert Rating: 4/5 

This is going to attract 100+Mn Amazon Shoppers – a huge number that’s good enough to shake the credit card industry in 2019. After all, why wouldn’t someone get a FREE credit card to save extra 5% on their amazon spend?

If everything goes well, expect every Tom, Dick and Harry hold this card very soon 🙂

What’s your take on ICICI Bank Amazon Pay Credit Card? Feel free to share your thoughts in the comments below.

44 thoughts on “ICICI Bank Launches Amazon Pay Credit Card – Save 5% on Amazon Spends

  1. Vinod Kannan

    That’s Awesome…. Going to Upgrade my useless Coral Credit Card which came Pre-approved… Since it did not offer any value to me, I have kept that Card in a storage box till now. Going to upgrade it ASAP…

    Reply
    1. Ameya

      I would rate Coral as one of the good base cards, not for the direct rewards it gives, but for the BookMyShow offer as well as the Lounge Access. Other than that, it maybe useless.

      Reply
  2. KALLOL Nandi

    HDFC smart buy is giving 10x reward on Amazon which will result in at least 10 percent return for regalia card holders. Also amazon prime members get 2% cash back if paid through amazon pay balance if auto reload option is enabled on the same amazon pay account. This is over and above existing credit card reward which is used to load amazon pay itself.

    But for beginners it is free Card with good rewards.

    Reply
    1. Rampy

      Absolutely! 3.3% return credit card + 2% Prime rewards, effectively gives 5.3% returns. Slightly (0.3%) better returns than this card. And HDFC takes it to a whole different level with 10x reward points.

      But for beginners, this will be way way better than their lifetime free Platinum Visa credit card. As Sid mentioned, this will have huge takers. A very good move by ICICI.

      Reply
    2. rajeev

      Yes, it looks like that purchasing through hdfc is still the best option on amazon! (atleast while 10X reward is open, may be after that this card will be a better option)

      Reply
  3. Satish Kumar Agarwal

    Since last 2-3 months I was thinking of applying for ltf icici bank platinum credit card, just to benefit from their merchant offers from time to time.

    I am happy that didn’t apply for it. Now as and when the invite comes for amazon pay card I will apply for the same. As I am very old icici savings ac holder, expect the invite quite soon.

    Reply
  4. BhavyeG

    Here the maximum profit cap is 5% if we buy goods directly from Amazon and only 2% if we buy gift card. But using SBI Simply click I always buy Amazon GV at 5% discount which is almost always readily available and I get additional 10x rewards through it that translates to 2.5% and 2% I am already getting as Amazon Pay balance due to opting for Amazon pay auto reload.

    Though I dont let the balance fall below the auto reload threshold ever and load the pay balance only by vouchers. So the savings approximately come out to be 9.5%. This 2% auto reload wont be given on ICICI card. But all in all its a good card and a gamechanger for ICICI.

    Reply
  5. balaji

    This is great. As I am using Amazon pay for utility bill payments and merchant partners, sure I will apply for it once it is available for all.

    Reply
  6. SH

    What makes the card powerful is the 2% back on Amazon Pay partners. That is akin to 2% back on almost all transactions with no cap either on the size of the transactions, or the amount of cashback one can get.

    Will this trigger Paytm to launch a cc card as well? Maybe in tie up with Citi? Lets see.

    Reply
    1. Siddharth Post author

      Looks like Paytm Credit card is already there with BOB. Btw, digital credit is becoming the trend on other side like Ola/Paytm postpaid.

      Reply
      1. Amex Guy

        Paytm Postpaid is backed by ICICI too. Interesting time for ICICI customers.

        Reply
  7. Cardexpertfan

    Will this be applicable to international Amazon orders as well?
    As in if i buy stuff from Amazon US in USD, will I get a 5% cash back on that as well?

    On a different note, your blog is the best place for credit card information in India! May your blog grow more than the points guy sometime!

    Best,
    Cardexpertfan

    Reply
    1. Siddharth Post author

      Amazon US – No. You’ll anyway loose a lot on markup even if they do.

      Thanks for those big wishes!

      Reply
  8. Abhishek Maurya

    I hold LTF sapphiro credit card. I will ask that to covert to this new card.

    Reply
    1. GTMAX

      Hi Abhishek,

      How were you able to get a co-branded Sapphiro card for free? Can you please share some insights?

      Reply
  9. Prashant Gupta

    This has to be game changer for both icici and amazon. As most of the people prefer amazon than flipkart. This will also help in selling prime memberships again increasing the loyalty for amazon in turn increasing spends for icici a win win for both. A must have card for all the beginners.

    The best part is now u get everything on amazom inclusing groceries.

    Reply
  10. Amann

    Hi Sid

    Do you think if we pay bills via amazon pay we’ll get 5% Amazon cashback?

    Reply
    1. Siddharth Post author

      Lets wait for detailed T&C. Its not possible unless Amazon/ICICI decides to burn some cash to make the card popular.

      Reply
    2. Amex Guy

      I think it says 5% on 160 million products. My guess is you won’t get anything on loading Pay wallet. When you spend it on select partners through Pay, you’d get 2%. Also, the reward goes straight to Pay wallet, so it would be silly if you recharge 100 that they put 105.

      But too early to speculate until this is made public.

      Reply
  11. SUJIT KUMAR HOTA

    amazon.in/cbcc/marketpage this is where you get to see if you are invited

    Reply
  12. Zakir

    I am holding lifetime free ICICI platinum credit card. In my opinion this new amazon card is better than simple platinum card which is pre-linked with payback rewards system. I will try to upgrade to amazon card.

    Reply
  13. Narasimha

    Hi Siddharth, Can the existing ICICI credit card holders apply for this? I mean, will ICICI issue 2 credit cards per customer. I just got my Jetairways Sapphiro credit card (both Amex and Visa), so wondering if I can get this as well. Thanks in advance.

    Reply
    1. Rajesh

      Hey Narasimha,

      I want to go for sapphiro card. I am not an ICICI customer. Can you tell me eligiblity? Want both visa and amex.

      Reply
  14. Jatt

    1% on all other spends, 2% on partner merchants. This seems pretty basic what is so special about this card ? i get the 5% return on Amazon.in part which is decent however, unless you are a reseller you can’t get much out of Amazon cashback. Gold/jewelley is anyways marked up about 10% or more on Amazon so can’t get much out of that either.

    Reply
    1. Prashant Gupta

      Tell me a single card which is lifetime free easily available giveing 1% back as reward. Its a great card for the starters. No doubt.

      Reply
      1. Balaji

        Indusind Iconia Amex 2% on weekends and 1.5% on weekdays. Acceted in Amazon pay too. Even wallet loads (Amazon pay, paytm wallet etc) give you this cashback.
        Its visa variant is 1% on weekends and 0.75% on weekdays.

        Reply
        1. Saroj

          Indusind Iconia Joining fee is minimum 3.5k+GST. For this card, It’s ZERO.

          Reply
          1. Balaji

            Within 6 months I was able to recover it due to my spends

  15. Krishna R M

    As suggested by Sujit, Yestrday I checked for invite at the URL amazon.in/cbcc/marketpage and there was no invite. Today I did recharge for my mobile on Amazon pay and on success page there was invite, I immediately applied and got the e card generated instantly after few clicks. It asked for my ICICI bank account linked mobile no for OTP. After OTP verification, it asked details of my existing card and after entering the same, e card got generated. Physical card will reach within seven working days.

    Reply
    1. Siddharth Post author

      Txn size and was that an upgrade or as a secondary card?

      Reply
    2. Narinder Pal Singh

      I tried to access amazon.in/cbcc/marketpage from my amazon account and it shown this card but apply now button was disabled. May be because i am not an icici customer. My wife holds ICICI salary account and ICICI Credit cards. I visited the same page using her amazon account, it asked for her credit card number and instantly generated the new credit card. Physical card will reach in 7 working days.

      Reply
    3. Srikrishna Raajan

      Two questions?
      1. Do you hold an ICICI bank account?
      2. Which platform did you use to recharge on Amazon Pay? Web/Mobile App?

      Reasons for the question:
      1. Is Amazon India considering account holders first who have their debit card added to Amazon or whether they also consider only Credit card customers of ICICI also?
      2. I read from the news on the day on launch that Invite will be available on Amazon India mobile app.

      Reply
  16. Krishna R M

    Recharge was Rs.498. It is a secondary card with shared credit limit. Provide your email. I will share few screenshots.

    Reply
  17. Satish Kumar Agarwal

    Looks like they are giving it first to customers who already hold an ICICI bank credit card.

    Reply
      1. Saroj

        For me as well it is not showing Even after using my ICICI card in recent transactions.

        Reply
  18. nandha kumar

    If utility payment also got 5% back and add money to Amazon pay

    Reply
  19. Amex Guy

    Since a lot of people are having this query — there is no return on purchases of gift cards and loading Amazon Pay wallet. Bills and recharges fetch 2%.

    Reply

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