Amazon Credit Card Offers

Cashback or discounts that are offered to customers are season dependent and are not always present. However, EMI options are generally offered throughout the year. There are two types of EMI option that are provided to you at Amazon these are:

No-cost EMI | Instant EMI

No Cost EMI – The best option on the list. Here, you won’t incur interest on your purchases upon converting them into EMI. The tenure is usually of up to 9 months; however, you may get tenure of up to 12 months for some products such as electronics.

Instant EMI – The other option that you can choose at the time of payment is Instant EMI. Here, an interest rate will be charged on EMI conversion. The tenure may go up to 12 months or more.

Note The converted EMI amount will be blocked against your credit limit. Gold bullions bought from Amazon cannot be converted into EMIs.

Credit Card EMI Interest Rate Comparison between Various Credit Card Providers

Credit Card Provider	Merchant EMI Interest Rate (p.a.)
HDFC Bank	15% Onwards
SBI Card	14% Onwards
Standard Chartered	13% Onwards
HSBC Bank	12.5% Onwards
Citibank	13% Onwards
ICICI Bank	12.99% Onwards
Axis Bank	13% Onwards
Kotak Bank	12% Onwards

Note The banks & Amazon reserve the right to change the rates without prior notification.

Before you apply for a credit card EMI, consider reading the following section.

Choose the Correct Tenure – Credit card providers offer a low-interest rate on long term EMI option and high interest on short term ones. But choosing the low-interest option might end up with you paying a higher amount. Here is how- Your bank is charging you an interest of 20% p.a. on the tenure of 3 months but only 18% p.a. on 12-month tenure. Now the interest amount that you will end up paying for a purchase of Rs. 10,000 will be-

Interest accrued on 3 month plan:  Rs. 493.15 [10,000*(20%/365)*90]

While interest accrued on 12 month plan will be: Rs. 1,800 [10,000*(18%/365)*365]

As you can see, just because the bank is offering a lower interest rate on a longer tenure won’t mean you will save money. You may select the option only if you find that the EMI payments on the short term options are quite high.

Correct Credit Card – If you have multiple credit cards, then compare interest rates offered on them. Banks consider many criteria when deciding upon on the interest rate which may include, loyalty, income, card type and so on.

Reward Points/Discounts – Typically converting purchases into EMI results in loss of reward points or discounts that are offered. If the provided discount is significant then we suggest you save money for the purchase instead of converting them into EMIs.

Blocked Credit Limit – The purchased amount will be blocked against your credit limit. And it will be unlocked with every EMI payment. You will be able to use the full credit limit only when you have paid off the last EMI.

Credit Score – As the purchased amount is blocked against the credit limit. Therefore, new purchases will use up the remaining credit limit. This, in turn, will increase the credit utilisation ratio. Credit Utilization Ratio is the ratio of purchases made against the credit limit of the card.

Timely Payments – If you have converted your purchase into EMI then you must pay the full outstanding amount including the EMIs by the due date. If you miss a payment then you will incur late fee and credit card interest rate which, in turn, could lead you down a debt spiral.

What is debit card EMI conversion?
Amazon allows select cardholders of certain banks to convert their purchases into EMI via debit card. This facility is provided on select products only and is not extended to all debit cardholders.

What is Amazon’s customer care number?
You can have Amazon’s customer care cell to call you. For this visit this link and select the order regarding which you want to talk to the customer care agent.

Can anyone avail these offers?
Yes, these offers that are displayed on Amazon’s website can be availed by anyone. Besides these offers, Amazon provides Prime offers that are exclusively for Amazon Prime subscribers.