ICICI Bank Amazon Pay Credit Card Review

Here’s a comprehensive review of the ICICI Amazon Pay Credit Card:

Overview:

The ICICI Amazon Pay Credit Card is a co-branded credit card designed for frequent Amazon shoppers, launched in partnership between ICICI Bank and Amazon. It’s particularly appealing because it’s a lifetime free (LTF) card with no joining or annual fees.

Key Features and Benefits:

Cashback Structure:
- Amazon Purchases: Prime members earn 5% cashback, while non-Prime members get 3% on Amazon.in (excluding some categories like EMI, gold, and fuel).
- Amazon Pay Partners: 2% cashback on payments to merchants using Amazon Pay.
- Other Transactions: 1% cashback on all other purchases.
Reward Redemption:
- Automatic Conversion: Rewards are automatically converted into Amazon Pay balance at the end of each billing cycle, credited to your Amazon account within 2 days.
- No Cap or Expiry: There’s no upper limit on rewards, and they do not expire, offering flexibility in usage.
Welcome and Milestone Benefits:
- Welcome Offer: Varies over time but often includes cashback or Amazon vouchers upon meeting spending thresholds post card issuance.
- Milestone Benefits: Additional rewards or vouchers for reaching certain spending levels.
Additional Perks:
- Culinary Treats: Up to 15% off on dining bills at participating restaurants through ICICI Bank’s Culinary Treats program.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions with no limit on the surcharge amount.

User Experience:

Ease of Use: The card is praised for its simplicity, especially for those who shop regularly on Amazon. The cashback automatically credited to Amazon Pay balance is a significant convenience.
Digital Application: The application process is quick, often with instant approval for existing ICICI customers. It includes a video KYC for non-ICICI customers.
Customer Service: ICICI Bank’s customer service is generally responsive, though experiences can vary.

Pros:

No Fees: Lifetime free with no annual or joining fees.
High Cashback for Amazon: Particularly beneficial for Prime members with 5% cashback on Amazon purchases.
Flexible Rewards: No cap on cashback, and it doesn’t expire, providing great value for regular Amazon users.

Cons:

Limited Outside Amazon: The rewards structure is heavily focused on Amazon, making it less advantageous for non-Amazon spending compared to other cashback cards.
Prime Membership Requirement: To get the 5% cashback, you need to be an Amazon Prime member, which has its own cost.
Exclusion Categories: Several categories like EMI, fuel, and gold purchases are excluded from earning cashback.

User Sentiment:

X (Twitter) and Web Reviews: Many users appreciate the straightforward rewards system and the cashback on Amazon purchases. However, there’s also feedback regarding the need for a Prime membership to maximize benefits and the card’s limited utility outside the Amazon ecosystem.

Me (Grok): Here’s the eligibility criteria and application process for the ICICI Amazon Pay Credit Card:

Eligibility Criteria:

Age: Applicants should be between 18 to 60 years old.
Income:
- For existing ICICI Bank customers: A minimum monthly income of ₹25,000 is required.
- For non-ICICI Bank customers: A minimum monthly income of ₹30,000 to ₹35,000 (depending on the source, this can vary, so it’s good to check the most current information on ICICI Bank or Amazon’s website).
Residency: Must reside in a city serviceable by ICICI Bank.
Credit Score: While not explicitly stated, a good credit score generally improves the chances of approval, especially for non-ICICI customers.

Application Process:

For Existing ICICI Bank Customers:

Invitation: Often, existing ICICI Bank customers receive an invitation to apply for the Amazon Pay Credit Card through their banking app or via email.
Application:
- Digital:
  - Log into your ICICI Bank account online or via the iMobile app.
  - Look for the Amazon Pay Credit Card offer or go to the ‘Cards’ section.
  - Click on ‘Apply Now’ or follow the link provided in the invitation.
- Fill Details: Provide necessary details, which might include your existing credit card number if you’re already an ICICI cardholder.
Instant Approval: Many applicants receive instant approval, especially if they are existing customers with a good track record.
Digital Card: Upon approval, you generally get a digital version of the card immediately for online use.
Physical Card: The physical card will be dispatched to your registered address within a few days.

For Non-ICICI Bank Customers:

Application on Amazon:
- Amazon App or Website:
  - Visit the Amazon.in website or open the Amazon app.
  - Navigate to the Amazon Pay section, where you might find a banner or link to apply for the credit card.
KYC Verification:
- Video KYC: You’ll need to complete a video KYC process. This involves:
  - Providing PAN card and Aadhaar details.
  - A video call where you’ll answer questions and show your documents to an ICICI Bank representative.
Document Submission:
- Identity and Address Proof: Documents like Aadhaar Card, Driving License, Passport, or Voter ID.
- Income Proof: Salary slips, bank statements, or ITR for self-employed.
Approval Time: Might take longer than for existing ICICI customers, typically up to 7 business days for KYC verification and card approval.
Digital and Physical Card: Similar to existing customers, you’ll receive a digital card upon approval for immediate use, with the physical card following.

Additional Tips:

Credit Score: A good CIBIL score can enhance your application’s success, particularly if you’re not an ICICI customer.
Monitor Your Application: You can track the status of your application through the ICICI Bank website or the link provided during application.
Contact Customer Care: For any issues or delays, ICICI Bank’s customer care can provide updates or assistance.

The process is designed to be user-friendly with an emphasis on digital convenience. However, for the most accurate and up-to-date information, always refer to the official ICICI Bank or Amazon websites or customer service.

Conclusion:

The ICICI Amazon Pay Credit Card is an excellent choice for dedicated Amazon shoppers, especially Prime members, who can leverage the 5% cashback. It’s one of the best LTF cards in India for those whose primary online shopping is done on Amazon. However, for those looking for broader spending rewards or without a significant Amazon shopping habit, other cards might be more suitable.