This article explains the recent enhancements to the Amazon Pay ICICI Bank Credit Card effective from October 11, 2025, especially how it now offers lower foreign exchange (forex) fees and improved travel-related rewards.

If you’re an Amazon Prime member or shop often on Amazon (or travel internationally), these changes could make a big difference in what you pay and what you get back.

I include worked examples to show how the savings play out, plus a full summary of benefits, fees, and also what has not yet been updated on ICICI’s site.

The only card Amazon Prime members & frequent Amazon shoppers really need

For many Prime members and regular Amazon shoppers, this co-branded credit card is already appealing: high cashback on Amazon purchases, no joining or annual fee, and other rewards. Now, with the refreshed benefits from October 11, 2025, the ICICI-Amazon Pay Credit Card also becomes significantly more useful for international shoppers / travellers — thanks to a reduced forex markup and expanded travel booking cashback. What was once mostly a “shopping card” is becoming more of a travel companion too.

New Reward for ICICI-Amazon Pay Credit Card Holders from October 11, 2025

As of October 11, 2025, the key change is that the forex markup fee on international transactions (i.e. purchases in foreign currency or overseas) will drop to 1.99%, down from the earlier 3.50%.

Below is an example of how this change affects your charges, and a comparison table showing savings

Example

Suppose I buy a gadget from a foreign-website, costing USD 200, when USD/INR rate is such that the product cost in INR (before forex markup) is ₹16,000. Then the bank applies forex markup on top. I have experienced purchases before where the bank added 3.50% so that my total cost becomes ₹16,560 (i.e. ₹16,000 + ₹560).

With the new rate, the additional cost would instead be lower.

Comparison Table: Forex Markup Savings

Here is how much extra I pay under the two rates, and how much savings result:

Scenario	Base cost (in INR)	Forex markup rate	Markup amount	Total cost	Savings (vs old rate)
Old (3.50%)	₹16,000	3.50%	₹560	₹16,560	—
New (1.99%)	₹16,000	1.99%	₹318.40	₹16,318.40	₹241.60

Summary of Impact

From the table, you see that for a ₹16,000 base transaction, the reduction from 3.50% to 1.99% saves about ₹241.60, or around 1.5% extra saving of the base cost. For larger purchases (say, hotels, flights, gadgets, electronics, etc.), the savings multiply. Over a year of overseas travel or purchases, this could add up into thousands of rupees.

So this is a meaningful benefit for anyone doing international shopping or overseas spending (meals, hotels, flights, etc.).

5% Cashback on Flight/Hotel Bookings with ICICI Amazon Pay Credit Card (Prime Member Example)

One of the newly emphasised perks is that Prime members will get 5% unlimited cashback when they book flights & hotels via Amazon Pay.

Example

Let me illustrate with a hypothetical scenario:

Suppose I want to book a flight from Mumbai to Bangkok. On a travel aggregator site, the flight costs ₹30,000 (all-in including taxes etc.).
I check Amazon Pay’s flight/hotel section and see the same flight listed for ₹30,000 (assuming price parity, ignoring minor platform booking fees).

If I book through Amazon Pay using this ICICI card

As a Prime member, I get 5% cashback → that's ₹1,500 back.

If I had booked via the travel aggregator using a different credit card, maybe typical cashback or rewards might be 1-2% (depending on card), or special offers, but let’s assume conservatively 2% → that gives ₹600 back.

So by using Amazon Pay & being a Prime member, I save ₹1,500 − ₹600 = ₹900 more in cashback compared to using another card or non-special platform. Plus, the benefit from the lower forex fee if part of the cost is international.

Price Comparison & Savings

Booking Path	Cost of Flight/Hotel	Cashback Rate	Cashback Value	Effective Cost after Cashback
Via Amazon Pay (ICICI card, Prime)	₹30,000	5%	₹1,500	₹28,500
Via Other Platform / Card	₹30,000	~2% typical	₹600	₹29,400

So the net saving for a Prime member is ₹900 in this example just from cashback difference. Over multiple travel bookings, that accumulates.

3% Cashback on Flight/Hotel Bookings if Not Prime

Even if you are not an Amazon Prime member, the card still gives 3% unlimited cashback on travel bookings (flights & hotels) via Amazon Pay.

Example

Using the same flight booking example:

Cost: ₹30,000
Cashback if not Prime but using Amazon Pay: 3% → ₹900 back.

Compare to typical 1-2% or maybe no special rate on many cards (if not tied to travel offers). So even non-Prime users get reasonable benefit if they use Amazon Pay with this card.

All Benefits & Rewards offered by Amazon Pay ICICI Bank Credit Card + Fees & Charges

Here’s a consolidated summary from ICICI’s product page and MITC (Most Important Terms & Conditions):

Benefits / Rewards

From the ICICI Bank product page / FAQs:

No Joining Fee, No Annual Fee.
Unlimited rewards — no cap, no expiry on reward points / cashback.
For Amazon.in purchases:
- Prime members → 5% cashback on purchases (excluding certain categories like Gold Coins).
- Non-Prime members → 3% for most Amazon purchases, with some exclusions; some categories give 2%.
Travel bookings (flights & hotels) via Amazon Pay get 5% for Prime members, 3% for Non-Prime.
Amazon Pay merchant / partner sites (100+ merchants) – you get ~2% cashback if you use “Login & Pay with Amazon” etc.
Other spends (outside Amazon, outside partner merchants) earn 1% cashback.
Fuel surcharge waiver: 1% surcharge waiver on fuel purchases.
Always-on 3-month no-cost EMI on eligible Amazon.in purchases.

Exclusions / Important Notes

Some categories do not earn rewards/cashback: Gold Coins, EMI transactions, rent, taxes, education spends etc. On other merchant spends, utilities, foreign spends, fuel (beyond surcharge waiver), etc., the rewards rates may not apply.
Reward points / cashback get credited as Amazon Pay balance (or gift card equivalent) at the end of the billing cycle.
Finance charges, late payment charges, fees on cash advance etc. apply. The interest rates are high (approx. 42-45.6% per annum) if you carry balance or do cash advance.

Fees & Charges

From ICICI’s official pages MITC etc.:

Fee / Charge Type	Amount or Rate
Joining Fee	NIL
Annual Fee	NIL
Overdue Interest / Extended Credit	~3.75% per month (≈ 45%-46% p.a.)
Interest on Cash Advances	Same rate as above approx.
Cash Advance / ATM Withdrawal Fee	2.50% on advance amount, subject to minimum rupee amount (e.g. ₹300 or more depending)
Late Payment Charges	Slabs: from ~₹100 to ~₹1,300 depending on outstanding amount

Error on ICICI Bank’s Website; Forex Markup Rate Not Yet Updated

As of now, ICICI Bank’s product page (on “Apply → Amazon Pay ICICI Bank Credit Card”) still shows the forex markup (or foreign transaction fee) at 3.50% in many places. That is because the revised rate of 1.99% kicks in only on and after October 11, 2025, so the site has not yet updated all sections.

Thus, customers checking before that date may see the old rate; after Oct 11, all new international transactions should incur the lower rate. It’s also possible that some printed MITC or statements still reflect the old rate until formally revised.

Rewards You Can Get on an Amazon Prime Membership

Beyond the card-benefits, Amazon Prime membership itself carries additional perks that enhance the value of this credit card further. Some of these (from Amazon’s own site / Prime benefit pages):

Faster / free delivery on Amazon.in orders.
Exclusive deals and discounts during Amazon sales events (Big Billion Days etc.).
Access to Prime Video, Prime Music, reading etc. (depending on region).
Special offers / early access to certain promotions.
With respect to the credit card, Prime membership allows access to the 5% cashback rate on Amazon shopping & Amazon Pay travel bookings (flights & hotels) that non-Prime users don’t get.
Sometimes additional coupon / “welcome offers” tied to Prime + Amazon Pay card, e.g. bonus Amazon Pay balance when activating, etc. (varies by campaign)

Conclusion

The ICICI-Amazon Pay credit card has just got a meaningful upgrade for people who travel or buy from international merchants. Lowering the forex markup from 3.50% to 1.99% is a big win, especially when combined with the strong cashback rewards (5% for Prime, 3% for non-Prime) on flights & hotels via Amazon Pay. For Prime members, the savings on travel and Amazon shopping are now more compelling.

If you regularly do overseas transactions (shopping, hotel stays, flights), or often compare booking platforms, this card now helps you reduce hidden costs. Even for non-Prime users, there is still value.

My suggestions: verify that your card has been activated or updated post-Oct 11; check your billing statements to ensure the new forex markup has been applied; compare with other travel cards if you have them. But overall, this change makes the Amazon Pay ICICI Bank Credit Card a much stronger option.

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