Axis Bank Ace vs. Amazon Pay ICICI Bank Credit Card

Participating in shopping is now a vital part of people’s everyday lives, especially for those aiming to meet their household needs efficiently. Digitalization has revolutionized the way we shop and pay bills online, making the process incredibly smooth. In India’s online payment scene, Google Pay and Amazon Pay are significant contenders, competing fiercely. To widen their market reach, both companies have launched credit cards in collaboration with different banks. Google has partnered with Axis Bank to introduce the Ace Credit Card, while Amazon has collaborated with ICICI Bank for the Amazon Pay ICICI Bank Credit Card.

Designed with a focus on the youth demographic, both Axis and ICICI cards cater to a target market that has witnessed substantial growth in online transactions and shopping, particularly follo

Features and Benefits of Axis Bank Ace Credit Card and Amazon Pay ICICI Bank Credit Card

Axis Bank Ace Credit Card:

1. Dining Benefits:

• Enjoy savings of up to 20% at more than 4,000 affiliated dining establishments.
• 4% accelerated cashback on Swiggy and Zomato.

2. Travel Benefits:

• 4 complimentary domestic airport lounge accesses at selected airports.
• 4% accelerated cashback on Ola rides.

3. Spend Based Waiver:

• Joining fee waiver upon spending over Rs. 10,000 in 45 days.
• Enjoy a waiver on the annual membership fee starting from the second year onward when you spend Rs. 2 lakhs within a year.

4. Fuel: 1% fuel surcharge waiver at all fuel stations, capped at Rs. 500.

5. Rewards:

• 5% cashback on utility bill payments through Google Pay.
• 4% cashback on Zomato, Swiggy, and Ola, capped at Rs. 500 each cycle combined.
• 2% cashback on miscellaneous spends with no capping.

Amazon Pay ICICI Bank Credit Card:

1. Dining Benefits: A minimum of 15% discount at partnered restaurants.
2. Fuel: 1% fuel surcharge waiver at fuel stations for transactions below Rs. 4,000.
3. Rewards:

• 5% cashback for Prime Members on Amazon purchases (exceptions apply).
• 3% cashback for Non-Prime Members on Amazon.in purchases.
• 2% cashback on partnered merchant purchases using Amazon Pay; otherwise, a standard rate of 1% applies.
• 1% cashback on other applicable transactions, where 1 Reward Point (RP) equals Re. 1.

Costs and Fees Associated with Axis Bank Ace Credit Card and Amazon Pay ICICI Bank Credit Card

Axis Bank Ace Credit Card:

• Annual/Renewal Fee = Rs. 499 + Taxes
• Interest Rate = 3.6% per month or 52.86% annually
• Foreign Currency Mark-up = 3.5% of the transacted amount
• Cash Advance Fee = 2.5% or a minimum of Rs. 500 from the transacted value.

Amazon Pay ICICI Bank Credit Card:

• Annual/Renewal Fee = NIL
• Interest Rate = 3.5% to 3.8% per month or 42% to 45.6% annually.
• Forex Markup Fee = 3.5% of the total transacted value.
• Cash Advance Fee = 2.5% of the total amount or a minimum of Rs. 500.

Comparison between Axis Bank Ace Credit Card and Amazon Pay ICICI Bank Credit Card

Axis Bank Ace Credit Card:

1. Joining Fee: Rs. 499 + Taxes
2. Rewards Redemption: Transferring funds to your Amazon Pay balance enables you to make purchases on Amazon and at affiliated merchants.
3. Interest Rates: 3.6% per month or 52.86% annually
4. Dining Benefits: Enjoy savings galore with our exclusive offers! Get up to a 20% discount on your dining bills at a vast array of over 4,000 partnered restaurants. Additionally, relish a generous 4% accelerated cashback when you dine through Swiggy and Zomato. Plus, ensure significant savings with a minimum discount of 15% on bill payments at our partnered restaurants. Treat yourself while saving big!
5. Forex Markup Fee: 3.5% of the transacted amount
6. Travel Benefits: 4 complimentary domestic airport lounge accesses at selected airports, 4% accelerated cashback on Ola rides
7. Spend Based Waiver: You’ll have the joining fee waived if you spend over Rs. 10,000 within 45 days. Additionally, starting from the second year, you won’t need to pay the annual membership fee if your spending hits Rs. 2 lakhs in a year.
8. Fuel: 1% fuel surcharge waiver at all fuel stations across the country
9. Cash Advance Fee: 2.5% or a minimum of Rs. 500 from the transacted value
10. Rewards:

• 5% cashback on utility bill payments via Google Pay
• 4% cashback on Zomato, Swiggy, and Ola
• 2% cash back on miscellaneous spends with no capping
• 5% cashback for Prime Members on most Amazon purchases (exceptions apply)
• 3% cashback for Non-Prime Members on Amazon.in purchases
• 2% cash back on purchases with partnered merchants using Amazon Pay; otherwise, a standard rate of 1% is applied
• 1% cashback on other applicable transactions, both online and offline
• 1 Reward Point (RP) = Re. 1

Amazon Pay ICICI Bank Credit Card:

1. Joining Fee: NIL
2. Rewards Redemption: Funds loaded into your Amazon Pay balance can be utilized for buying goods not only on Amazon but also at affiliated merchants.
3. Interest Rates: 3.5% to 3.8% per month or 42% to 45.6% annually
4. Dining Benefits: 4% accelerated cashback on Swiggy and Zomato, and a minimum of 15% discount on bill payments with all partnered restaurants
5. Forex Markup Fee: 3.5% of the total transacted value
6. Travel Benefits: Not specified
7. Spend Based Waiver: Not specified
8. Fuel: 1% fuel surcharge waiver at all fuel stations for transactions below Rs. 4,000
9. Cash Advance Fee: A minimum of Rs. 500 or 2.5% of the total amount, whichever is higher.
10. Rewards:

• 5% cashback on utility bill payments via Google Pay
• 4% cashback on Zomato, Swiggy, and Ola
• 2% cash back on other miscellaneous spends with no capping
• 5% cashback for Prime Members on all Amazon purchases with a couple of exceptions
• 3% cashback for Non-Prime Members on Amazon.in purchases
• 2% cash back on purchases made with partnered merchants using Amazon Pay; otherwise, a standard rate of 1% will be applied
• 1% cashback on any other applicable transaction for both online and offline purchases
• 1 RP = Re. 1

Which credit card suits you best?

1. The Axis Bank Ace Credit Card and Amazon Pay ICICI Bank Credit Card stand out as leading options for online payments.
2. Individually crafted to serve distinct markets and demographics, each card offers tailored benefits and features.
3. The Ace card is ideal for individuals who frequently use Google Pay for bills and payments.
4. Alternatively, the Amazon Pay ICICI Bank Credit Card is ideal for individuals who frequently shop on Amazon, offering tailored benefits for their specific needs.
5. Both cards are co-branded, designed to cater to the distinct requirements of their target customer bases.
6. Each card is jointly branded, with tailored benefits designed specifically for their unique target audiences.
7. Choosing the best option depends entirely on the preferences and requirements of the applicant.
8. There is no redundancy in the information presented, ensuring clarity and conciseness.

Frequently Asked Questions (FAQs)

Q1: What is the Axis Bank Ace Credit Card?
A1: The Axis Bank Ace Credit Card, provided by Axis Bank, is tailored to suit particular online payment choices, offering a unique solution for users’ needs.

Q2: What sets apart the Amazon Pay ICICI Bank Credit Card from other options available in the market?
A2: The Amazon Pay ICICI Bank Credit Card is a co-branded credit card tailored for individuals who engage in significant shopping on Amazon.

Q3: What are the distinctions in the target markets for each of these credit cards?
A3: The Axis Ace Card is curated for those who use Google Pay for bills and payments, while the Amazon Pay ICICI Card is suitable for avid Amazon shoppers.

Q4: Are there any common features between the Axis Ace and Amazon Pay ICICI credit cards?
A4: Each card is jointly branded, providing unique benefits tailored to cater to the distinct requirements and desires of their respective customer bases.

Q5: Can I use the Axis Ace Credit Card for Amazon purchases?
A5: Although the Axis Ace Card isn’t tailored exclusively for Amazon transactions, it does provide advantages for various online purchases beyond those made on Amazon’s platform.

Q6: What are the key factors to consider when choosing between these credit cards?
A6: The decision between the Axis Ace and Amazon Pay ICICI cards varies depending on personal preferences, including favored payment platforms and spending patterns.

Q7: How do the rewards and benefits differ between the two cards?
A7: Rewards and benefits are tailored to the respective target markets, with the Axis Ace Card emphasizing Google Pay usage and the Amazon Pay ICICI Card offering perks for Amazon transactions.

Q8: Is it possible for me to submit applications for both the Axis Ace and Amazon Pay ICICI credit cards simultaneously?
A8: Absolutely, you can apply for both cards. However, approval is contingent upon meeting the specific eligibility requirements established by Axis Bank and ICICI Bank individually.

Q9: Are there any annual fees associated with these credit cards?
A9: Both the Axis Ace and Amazon Pay ICICI credit cards may have annual fees, and it’s essential to review the terms and conditions for accurate information.

Q10: What criteria should I consider to determine the most suitable credit card for my needs?
A10: Choosing the best credit card depends on your specific preferences, payment habits, and spending patterns. Consider your priorities, such as preferred payment platforms and types of transactions, to make an informed decision.