ICICI Amazon Pay Credit Card Devaluation

[anuragmukherjee28]

ICICI Bank has announced a significant devaluation of the Amazon Pay credit card. From 18 May 2024 onwards, you will not receive any cashback or reward points on your Rent payments. This is terrible news for people who use the ICICI Amazon Pay credit card for rent payments.

 

[Ajju2star]

Previously, cardholders enjoyed a higher reward rate, especially on Amazon purchases. However, the new terms have adjusted these rewards, typically lowering the cashback rates or increasing the points needed for certain benefits. Additionally, certain categories might now offer fewer rewards, and there may be more restrictions or exclusions on how rewards can be earned and redeemed. These changes can impact the overall value proposition of the card for frequent Amazon shoppers and may prompt users to reconsider its benefits against other available credit cards.

 

[abhimarda]

Previously, cardholders enjoyed a higher reward rate, especially on Amazon purchases. However, the new terms have adjusted these rewards, typically lowering the cashback rates or increasing the points needed for certain benefits. Additionally, certain categories might now offer fewer rewards, and there may be more restrictions or exclusions on how rewards can be earned and redeemed. These changes can impact the overall value proposition of the card for frequent Amazon shoppers and may prompt users to reconsider its benefits against other available credit cards.

Not sure what this means? ICICI Amazon card always had 5% cashback on Amazon (for Prime members) on all purchases. The bill category has 2% cashback. The only devaluation in this card is on rental now. There is nothing like requirement of points for benefits as all cashback earned are transferred as Amazon Balance on the day of bill generation. The value proposition doesn't go down much as this is a LTF card in any case. The rent payments were getting 1% cashback and that will not accrue..that's the only change I see. This remains one of the best cashback cards especially in LTF category.