Everything you should know about Amazon Pay ICICI Bank Credit Card
Amazon Pay ICICI Bank Credit Card in-depth review. Source: icicibank.com
Today, PaySpace Magazine has decided to consider Amazon Pay Credit Card by ICICI. We have tried to compile detailed information regarding this card, such as conditions of applying, benefits, fees & charges, etc. Thus, you’ll find here everything you wanted to know about Amazon Pay ICICI Credit Card.
ICICI Bank has launched a credit card in partnership with the e-commerce giant Amazon. What do we know about it? First of all, there are no application and annual fees, and it seems to be a good deal, doesn’t it? Furthermore, this card offers multiple benefits, such as giving back from 1% to 5% from the purchase price (shopping on Amazon, as well as from other merchants and sites), exclusive privileges, and 24/7 customer support service. You can enjoy value back on your spends at Amazon and elsewhere. A lot of clients appreciate this card because of uncapped reward points, which do not expire. Moreover, this card is a contactless one.
What is Amazon Pay ICICI Bank Credit Card?
Amazon Pay ICICI Bank Credit card is a credit card issued by ICICI Bank jointly with Amazon Pay (India) Private Limited (Amazon) and Visa. This is a lifetime-free credit-card with no joining or renewal fees. The card implies providing earnings for every purchase due to its earnings mechanism (which works for Amazon.in and any other site, and as an Amazon Pay balance under the Gift and Credits section).
The major benefits of this card
- Firstly, the biggest bonuses are intended for Amazon Prime cardholders. Such customers earn 5% back on Amazon.in purchases except for payment towards e-books, any type of gift cards, loading and reloading of Amazon Pay balance: Money, bill payments, mobile and DТН recharges, which will earn 2% back.
- Non-prime cardholders earn 3% back on Amazon.in purchases under the same conditions.
- You can get 2% back on more than 100 Amazon Pay partner merchants. You just need to use Amazon Pay ICICI Bank Credit card on Amazon Pay as a payment method.
- You will get 1% back on any other type of payment (except for the purchase of petrol).
- As we’ve mentioned above, there are no joining or annual fees.
- Earnings/reward points are uncapped, unlimited, and do not expire.
- 1% surcharge waiver for all fuel purchases.
- Earnings are in the form of Amazon Pay balance, redeemable across 16 crores + products on Amazon.in and across no less than one hundred Amazon Pay partner merchants.
- Earnings are automatically converted to Amazon Pay balance in two days. The process of conversion starts once a billing cycle is completed. Amazon Pay balance is an embedded feature of the Amazon account. Thus, a user is able to see earnings for past billing cycles. This info is located in a client’s credit card statement issued by IСIСI.
- The redemption amount has no minimum value. Moreover, there are no fees, if we are talking about redeeming earnings.
What is the right way to apply for Amazon Pay ICICI Bank Credit Card?
- First and foremost, go to Amazon Pay ICICI Bank Credit Card and click Apply Now.
- Follow the on-screen instructions to apply for the card.
The application process is not that simple. . Source: shutterstock.com
However, the application process is not that simple. Of course, the step-by-step process per se is light and breezy. On the other hand, this program is an invite-only one. Therefore, only invited clients will receive further instructions on how to apply for this program (through, apparently, their Amazon accounts). They will receive instructions on their verified e-mail ID from both Amazon and ICICI Bank.
Exclusive ICICI Bank privileges
- You are guaranteed to receive a 15% discount at more than 2,500 restaurants all over India (related to Culinary Treats Program).
Fees & Charges
- Here you will find the most important Terms and Conditions.
- Finance charges on extended credit – from 42% to 45.60% a year
- Finance charges on cash advance – from 42% to 45.60% a year
- Late payment fee – from ₹100 – to ₹750
- Over limit charges – 2.50% (minimum sum is ₹500)
- Card replacement fee – ₹100
Amazon Pay ICICI Bank Credit Card Customer Support Service
The offer is endowed with a robust customer support service operating 24/7. Call toll free number 18001020123 in order to check the status of your credit card application.
Now a couple of words about ICICI Bank
This financial institution was founded in India in 1994. ICICI stands for Indian Credit and Investment Corporation of India. ICICI Bank is a subsidiary of a bigger company. The parent firm (a joint-venture of World Bank) was established in 1955.
ICICI is the second-largest financial institution in India, with revenue of ₹77,913 crore ($11B), operating income of ₹9,702 crore ($1.4B), and net income of ₹3,363 crore ($490M), while total assets of the bank are ₹929,652 crore, which equals $130B (all the numbers are as of 2019).
The bank is really large, since as of 2019 the number of employees totals 84,922. ICICI Bank Limited is presented in 17 countries, and has 4867 physical branches with more than 14300 ATMs (only across India).
According to customers’ comments and reviews, most clients are satisfied with this card. Some of them claim this card is best for online shopping, while others say since it is absolutely free there is nothing to lose. Moreover, you will earn bonuses if you use this card.
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