ICICI Amazon Pay Credit Card Devaluation: What You Need to Know
Understanding the Changes
| Manual Loading of Amazon Pay Balance | One potential workaround is manually loading Amazon Pay Balance. However, users often cannot use their credit card for this purpose, which diminishes the ease and reward of this method. |
| Buying Amazon Pay Gift Cards | Another alternative is purchasing Amazon Pay gift cards from third-party sites. Unfortunately, using the ICICI Amazon Pay Credit Card for this transaction yields only a 1% cashback, making it a less attractive option compared to other methods. |
| Considering Other Credit Cards | Given the added complexity and reduced reward rate, many users might find it beneficial to switch to more versatile and rewarding credit cards. Here are a couple of strong alternatives: HDFC Swiggy Credit Card: Benefits: Offers 5% real cashback on Amazon and various other websites and apps. Application Link: Apply for HDFC Swiggy Credit Card SBI Cashback Credit Card: Benefits: Provides 5% real cashback on Amazon and many other platforms. Application Link: Apply for SBI Cashback Credit Card |
| Premium Credit Card Users | For premium credit card holders who purchase Amazon gift cards through platforms like HDFC SmartBuy, Axis GiftEdge, or Amex Reward Multiplier, there is still a viable option. These users can buy “Amazon Shopping Vouchers” and load them into their Amazon account for any shopping spend on Amazon. These vouchers do not face the same restrictions as Amazon Pay Balance and can be used for partial payments. Additionally, Amazon Pay Balance can still be used for payments on third-party sites like OLA, Uber, BookMyShow, and Zomato, ensuring it retains some value outside of Amazon’s platform. |
Conclusion
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FAQs
Accordion Content
The card has lost value because Amazon Pay Balance usage is restricted and gift card purchases earn just 1% cashback. Earlier, this card offered strong rewards on Amazon, but now other cards like HDFC Swiggy and SBI Cashback provide higher benefits.
Yes, you can still use it directly on Amazon. However, the cashback rate is lower compared to before, making it less rewarding. Many users now prefer alternative cards with better cashback.
No, Amazon Pay gift cards bought with the ICICI Amazon Pay Credit Card only give 1% cashback. In comparison, other credit cards offer up to 5% cashback on Amazon purchases, so this method is no longer attractive.
The HDFC Swiggy Credit Card and SBI Cashback Credit Card are strong alternatives, both offering 5% cashback on Amazon and other platforms. Premium cardholders can also use vouchers via HDFC SmartBuy, Axis GiftEdge, or Amex Reward Multiplier.
Yes, while less useful for Amazon shopping, Amazon Pay Balance can still be used on third-party apps like OLA, Uber, Zomato, and BookMyShow, giving it some continued value outside Amazon.
