Amazon Pay ICICI Bank Credit Card Review 2026: Unlimited 5% on Amazon, Lifetime Free, 1.99% Forex, F
Amazon Pay ICICI Bank Credit Card review 2026 — unlimited 5% rewards on Amazon.in for Prime members, zero joining and annual fees, reduced 1.99% forex markup, plus the growing list of excluded categories you need to know before applying.
The Amazon Pay ICICI Bank Credit Card is built for one job: rewarding people who shop on Amazon.in. It is lifetime free, its earn rates are genuinely uncapped, and everything you earn lands in your Amazon Pay balance automatically. What it is not, in 2026, is an all-rounder — a series of changes through late 2025 and early 2026 stripped rewards from utilities, education, rent and international spends, and added transaction fees to several everyday categories.
Amazon Pay ICICI Bank Credit Card Quick Overview
| Feature | Details |
|---|---|
| Card type | Entry-level co-branded shopping card |
| Best for | Amazon Prime members who shop heavily on Amazon.in |
| Joining fee | ₹0 |
| Annual fee | ₹0 (lifetime free, no spend condition) |
| Network | Visa |
| Top reward | 5% on Amazon.in for Prime members (3% for non-Prime), uncapped |
| Base reward | 1% on all other eligible spends, uncapped |
| Reward type | Reward Points credited as Amazon Pay balance (1 point = ₹1) |
| Welcome benefit | None |
| Lounge access | None |
Eligibility Criteria
- Indian citizen, minimum age 21 years
- Salaried applicants: minimum monthly income of ₹20,000
- Self-employed applicants: minimum monthly income of ₹30,000
- Documents required: proof of identity, proof of address and income proof
- This is an invite-only programme — you need to see the offer on your Amazon.in account or ICICI Bank channels to apply
Welcome Benefit
There is no welcome benefit or sign-up bonus on this card in the official Terms & Conditions or the bank's product page. Amazon periodically runs promotional first-transaction cashback campaigns on its own marketing pages, but these are time-bound offers rather than a contractual card benefit, so treat them as a bonus if you get one and not as a reason to apply.
Reward Structure: How You Earn
Earn rates are expressed as a straight percentage of the transaction amount, and every rate on this card is uncapped. Reward Points are rounded down to the nearest whole number on each transaction.
| Spend category | Prime member | Non-Prime member |
|---|---|---|
| Purchases on www.amazon.in | 5% | 3% |
| Digitally fulfilled categories, 100+ Amazon Pay partner merchants via "Login and Pay with Amazon", physical gift cards | 2% | 2% |
| All other eligible spends | 1% | 1% |
Two details in the fine print matter more than the headline rate:
Amazon Gold Coins and Amazon Pay travel bookings are carved out. The T&C (last updated 13 January 2026) excludes Amazon Gold Coins and flight and hotel bookings made via Amazon Pay from both the 5% and 3% rates. This directly contradicts the September 2025 ICICI Bank–Amazon Pay press release, which announced 5%/3% rewards on Amazon Pay travel bookings from 11 October 2025. If travel spending on Amazon Pay is a big part of your plan, confirm the current position with ICICI Bank before you rely on it.
Prime membership is the single biggest lever on this card. The gap between 5% and 3% is 2% of everything you spend on Amazon. Spending roughly ₹10,000 a month on Amazon covers a year of Prime from the differential alone.
Illustrative monthly earnings
The T&C does not publish a rewards worked example, so here is a simple illustration for a Prime member (all figures uncapped):
| Spend | Amount | Rate | Reward Points |
|---|---|---|---|
| Amazon.in shopping | ₹15,000 | 5% | 750 |
| Amazon Pay partner merchants | ₹5,000 | 2% | 100 |
| Dining, groceries, offline retail | ₹20,000 | 1% | 200 |
| Fuel and electricity bill | ₹8,000 | 0% | 0 |
| **Total** | **₹48,000** | — | **1,050 (₹1,050)** |
That is an effective return of roughly 2.2% on total spend — driven almost entirely by the Amazon leg.
Milestone Benefits
None. The card has no spend milestones, no annual renewal voucher and no fee-waiver threshold, because there is no fee to waive.
Other Benefits
- 1.99% forex markup on international transactions, reduced from 3.50% effective 11 October 2025. This is unusually low for a lifetime-free card. Note the trade-off: international transactions earn zero Reward Points from the same date.
- 1% fuel surcharge waiver at all petrol pumps. On off-us terminals the reversal does not include GST.
- Always-on 3-month no-cost EMI on eligible Amazon.in purchases (merchant EMI only). Standard EMI conversions claw back the Reward Points on that transaction; the no-cost EMI option is offered at checkout.
- Automatic redemption — points convert to Amazon Pay balance within 2 working days of your statement closing. No minimum redemption amount, no redemption fee, no expiry to track.
- Add-on cards are available for family members via iMobile or Net Banking.
Category Restrictions: Where You Won't Earn Reward Points
The exclusion list has grown considerably. No Reward Points accrue on:
- Education payments (w.e.f. 11 October 2025)
- International transactions (w.e.f. 11 October 2025)
- Utility payments made outside the Amazon platform (w.e.f. 11 October 2025)
- Rent payments on any MCC (w.e.f. 18 June 2024)
- Fuel, gold, silver and other precious metals
- All tax-related payments
- EMI transactions, EMI on Call and cash transactions — and points are clawed back if a transaction is converted to EMI later
- Amazon Gold Coins and Amazon Pay flight/hotel bookings (excluded from the 5%/3% Amazon rate)
- Amazon Business purchases on amazon.in/business, and physical or digital gold on Amazon.in
- Fees, charges, interest and late payment charges
Points are also clawed back on cancelled or reversed transactions, and no rewards are credited after the current statement cycle if the card is cancelled or blocked. Disputes on rewards must be raised with ICICI Bank within 90 days.
Fees and Charges
| Charge | Amount |
|---|---|
| Joining fee | Nil |
| Annual fee | Nil |
| Finance charges | 3.75% per month (45% p.a.); up to 3.8% per month (46% p.a.) on default |
| Cash advance fee | 2.50% of the amount, minimum ₹500 |
| Late payment charges | ₹100 to ₹1,300, slab-based on outstanding |
| Over-limit fee | 2.50% of the over-limit amount, minimum ₹550 |
| Forex markup | 1.99% |
| Dynamic currency conversion fee | 1.99% (raised from 1% w.e.f. 15 January 2026) |
| Rent payments | 1% of transaction amount |
| Education payments | Nil if paid directly to the institution; 1% via third-party apps |
| Utility payments | 1% on transactions above ₹50,000 |
| Fuel transactions | 1% on transactions above ₹10,000 |
| Transportation | 1% on transactions above ₹50,000 (w.e.f. 15 January 2026) |
| Skill-based gaming | 2% of transaction amount (w.e.f. 15 January 2026) |
| Wallet load | 1% on loads of ₹5,000 or more (w.e.f. 15 January 2026) |
| Cheque / auto-debit return | 2% of Total Amount Due, minimum ₹500 (+ ₹50 + GST) |
| Cash payment at branch | ₹150 per transaction (w.e.f. 15 January 2026) |
| Card replacement | ₹200 |
| GST | 18% on all fees, interest and charges |
Late payment slabs: nil up to ₹100; ₹100 for ₹101–₹500; ₹500 for ₹501–₹1,000; ₹600 for ₹1,001–₹5,000; ₹750 for ₹5,001–₹10,000; ₹900 for ₹10,001–₹25,000; ₹1,100 for ₹25,001–₹50,000; ₹1,300 above ₹50,000.
Is the Amazon Pay ICICI Bank Credit Card Worth It?
For an Amazon Prime member, this remains one of the easiest cards in India to justify holding. It costs nothing, it never needs a minimum spend to stay alive, the 5% on Amazon is uncapped — a rarity — and redemption requires no effort at all. Add the 1.99% forex markup and it has become a reasonable card to carry abroad, even though those spends earn nothing.
It is a poorer fit if you are not a Prime member, in which case 3% on Amazon is competitive but no longer exceptional, or if you were counting on it as a single do-everything card. Utilities, rent, education, fuel and tax now earn nothing, several of those categories carry a 1% fee above modest thresholds, and there is no lounge access, no insurance cover and no milestone structure. It is best understood as a free, high-yield Amazon card that you pair with a broader everyday rewards card — not as a replacement for one.
Frequently Asked Questions (FAQs)
What is the annual fee for the Amazon Pay ICICI Bank Credit Card? There is none. The card carries no joining fee and no annual fee, with no minimum spend requirement to keep it free.
Is the 5% reward rate capped? No. All earn rates on this card — 5%, 3%, 2% and 1% — are uncapped. There is no monthly or annual ceiling on Reward Points.
What is the difference between the Prime and non-Prime rate? Prime members earn 5% on Amazon.in purchases; card members without an active Prime membership earn 3%. Every other rate is identical for both.
How and when do I receive my rewards? Reward Points are automatically credited as an Amazon Gift Card into the Amazon Pay balance of the Amazon account linked to the card, within 2 working days of your billing cycle closing.
Do the reward points expire? No. Because points convert to Amazon Pay balance every cycle, there is no accumulating balance to expire and no redemption threshold or fee.
Which spends earn no rewards at all? Fuel, rent, education, tax payments, gold and other precious metals, international transactions, utility payments made outside the Amazon platform, EMI and cash transactions, Amazon Gold Coins and Amazon Business purchases.
What is the forex markup on this card? 1.99% on international transactions, reduced from 3.50% effective 11 October 2025. A separate 1.99% dynamic currency conversion fee applies to rupee transactions at international merchants.
Can I link this card to UPI? No. Credit card linkage on UPI is currently available only on RuPay credit cards in India, and this card runs on Visa.
Does this card offer airport lounge access? No. There is no complimentary domestic or international lounge access on this card, and no golf, movie or insurance benefits either.
Is there a welcome benefit? Not as a contractual card feature. Amazon occasionally runs time-bound promotional cashback offers for new cardholders, but nothing is guaranteed in the Terms & Conditions.
How do I get the 2% rate at partner merchants? Use the "Login and Pay with Amazon" payment method at partner websites. Paying those merchants directly with the card earns the standard 1% instead.
Can I apply for this card directly? It is an invite-only programme. Eligible customers see the offer on their Amazon.in account or through ICICI Bank's channels; there is no open application route.
What happens to my rewards if I convert a purchase to EMI? Reward Points on that transaction are clawed back. The exception is the always-on 3-month no-cost EMI option chosen at checkout on eligible Amazon.in purchases.
Disclaimer: This review is based on the Terms and Conditions governing the Amazon Pay ICICI Bank Credit Card (last updated 13 January 2026), the Most Important Terms and Conditions (MITC) document, and the ICICI Bank product page for the card, supplemented by the ICICI Bank–Amazon Pay press release of September 2025 and Amazon's customer help pages for the card. Fees, features and reward structures are set by ICICI Bank and Amazon Pay and are subject to change at their discretion. Please verify current terms on the official ICICI Bank website before applying.
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