Executive Summary: Banks are launching credit cards designed for the e-shopper. We compare three e-commerce co branded cards – ICICI’s Amazon Pay Credit Card, Snapdeal HDFC Bank Card and Axis Bank Buzz Credit Card.
Co-branded credit cards have been around for quite some time. Online shopping is on a boom in India and has transformed the way we shop. Therefore companies launch products catering to customer wants. Let us look at some credit cards that have been launched to take advantage of the online shopping boom and increase customer base.
ICICI Bank’s Amazon Pay Credit Card
ICICI and Amazon have joined hands to launch the Amazon Pay Credit Card.
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Key Features
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Amazon Highlights
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Regular Amazon customers who are ICICI account holders will be able to apply for the card on the Amazon app. After a certain period, regular Amazon shoppers will be able to apply for the card.
Our Verdict
It is a good credit card for Amazon shoppers. Amazon offers a variety of products so there is a chance of earning a lot of reward points. You will get the digital card immediately after applying for it which means you can start shopping and earning points immediately. Your phsyical card will arrive later. There is no expiry of earnings and no limit on the Amazon pay points that you can earn.
Do note that there are no reward points for EMI transactions and purchase og gold. Moreover rewards can be used only on the Amazon portal.
Our Verdict
It is a good credit card for Amazon shoppers. Amazon offers a variety of products so there is a chance of earning a lot of reward points. You will get the digital card immediately after applying for it which means you can start shopping and earning points immediately. Your phsyical card will arrive later. There is no expiry of earnings and no limit on the Amazon pay points that you can earn.
Do note that there are no reward points for EMI transactions and purchase og gold. Moreover rewards can be used only on the Amazon portal.
Snapdeal HDFC Bank Card
It is launched by HDFC and Snapdeal together.
It is launched by HDFC and Snapdeal together.
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Key Features
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Snapdeal Shopping Highlights
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Our Verdict
If you are a regular Snapdeal shopper, it might make sense. But reward points expire within two years. The scheme of 20 reward points given for every Rs. 150 is applicable only till March 2019. Moreover there is a payment to be made for redemption of rewards. There are better credit cards that can be considered as this does not offer airpot lounge access or dining benefits if you prefer those kind of benefits.
If you are a regular Snapdeal shopper, it might make sense. But reward points expire within two years. The scheme of 20 reward points given for every Rs. 150 is applicable only till March 2019. Moreover there is a payment to be made for redemption of rewards. There are better credit cards that can be considered as this does not offer airpot lounge access or dining benefits if you prefer those kind of benefits.
Axis Bank Buzz Credit Card
Axis Bank has launched the Buzz credit card in collaboration with Flipkart.
Axis Bank has launched the Buzz credit card in collaboration with Flipkart.
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Key Features
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Flipkart Shopping Highlights
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Flipkart vouchers of worth Rs. 500, Rs. 1000 and Rs. 2500 received for annual Flipkart spends of Rs. 25000, Rs. 50000 and Rs. 100000 respectively.
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Our Verdict
If you are an avid shopper on Flipkart, you might like this card as there are many Flipkart vocuhers given. You can also convert your purchase to EMI. The interest charge is reasonable at 1.5% per month. The joining fees and renewal fees are high. The cashback points are not so attractive.
If you are an avid shopper on Flipkart, you might like this card as there are many Flipkart vocuhers given. You can also convert your purchase to EMI. The interest charge is reasonable at 1.5% per month. The joining fees and renewal fees are high. The cashback points are not so attractive.
A credit card is like a double edged sword. Smart usage of a credit card improves credit score, make large payments and earn attractive rewards and discounts. At the same time, some may over spend or lose track of payments and end up paying interest. Be a disciplined credit card user who does not spend beyond the credit limit, pays dues on time and makes the best of the perks and rewards associated with the card.
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