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Amazon Pay ICICI Bank Credit Card vs SBI Cashback Credit Card
On net annual value, SBI Cashback beats Amazon Pay ICICI Bank in all four spend profiles we model, from ₹3,840 a year for everyday spenders to ₹12,000 for online shoppers. Amazon Pay ICICI Bank is lifetime free against a ₹999 annual fee and charges 1.99% on foreign-currency spend against 3.5%. Figures as of .
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Who comes out ahead — by how you spend
Estimated net annual value for four typical spend profiles: the rewards each card earns on that spend (a merchant or portal bonus only on the share of spend it plausibly reaches), plus the perks and milestone bonuses that spender would use, less any annual fee the spend does not waive (with GST) and the forex markup on spending abroad. Lounge access carries no rupee value here.
| Spender | Amazon Pay ICICI Bank Credit Card | SBI Cashback Credit Card |
|---|---|---|
Everyday spender ≈ ₹40k/mo across groceries, bills, dining and fuel | ₹5,160/yr | ₹9,000/yr✓ +₹3,840/yr |
Online shopper ≈ ₹60k/mo, mostly e-commerce and subscriptions | ₹11,520/yr | ₹23,520/yr✓ +₹12,000/yr |
Frequent traveller ≈ ₹1.2L/mo with heavy travel and forex spend | ₹8,304/yr | ₹12,480/yr✓ +₹4,176/yr |
High spender ≈ ₹2.5L/mo across every category | ₹18,888/yr | ₹30,480/yr✓ +₹11,592/yr |
Illustrative profiles, not a personalised result — your categories decide the real winner. Run these two on my spending →
What your points are actually worth
A point's headline value means little without the earn rate behind it. Here's the real math — the value of a point by how you redeem it, the resulting return by category, and the net rupees for your own spend.
| Value of one point, by route | Amazon Pay ICICI Bank Credit CardCashback | SBI Cashback Credit CardCashback |
|---|---|---|
| Cash / statement credit | ₹1.00BEST | ₹1.00BEST |
Return by categoryearn rate × point value
Headline reward rate per category, before monthly caps.
Your spend, head to head
Enter your monthly spend — net value is the annual rewards after the card fee, at each card's best realistic redemption (our recommender's model, caps and fee-waivers included).
Total ₹60,000/mo · ₹7,20,000/yr
Want the money-first pick across your whole wallet? Run the recommender →
| Amazon Pay ICICI Bank Credit Card | SBI Cashback Credit Card | |
|---|---|---|
| Fees | ||
| Joining fee | Free | ₹999 |
| Annual fee | Lifetime free ✓ | ₹999/yr |
| Annual fee — all-in (incl. 18% GST) | Free ✓ | ₹1,179 |
| Fee waiver at | Lifetime free | ₹2,00,000/yr spend |
| Welcome benefit | — | — |
| Rewards | ||
| Best everyday reward | 1% on everyday spends | 5% on Online Shopping ✓ |
| Online Shopping | 1% | 5% ✓ |
| Base rate — other spends | 1% | 1% |
| Charges | ||
| Forex markup | 1.99% ✓ | 3.5% |
| Finance charge | 3.75% p.m. | 3.75% p.m. |
| Cash advance | — | — |
| Add-on card | — | — |
| Perks | ||
| fuel waiver | — | ~₹600/yr · 1% fuel surcharge waiver, max ₹100/month |
| Eligibility | ||
| Min income | ₹30,000/mo | — |
| Min age | 21+ yrs | — |
| UPI linked | — | — |
| Expert rating | 4.4 / 5 | 4.5 / 5 ✓ |
Reward rates above are the realistic value you keep — points earned × what a point is worth at each card's own best redemption, before monthly caps — so cards with different point values compare fairly. Bank-portal accelerators (earned only by booking through the issuer's own portal, on a slice of spend) are bounded upside, listed separately here rather than blended into the everyday rates.
Which should you pick?
Choose the Amazon Pay ICICI Bank Credit Card if you want strong rewards on everyday spends at a lower annual fee. Consider the SBI Cashback Credit Card if you spend more on online shopping. Your actual best card depends on how you spend — run your numbers below.
Amazon Pay ICICI Bank Credit Card vs SBI Cashback Credit Card — FAQs
Which has a lower annual fee, Amazon Pay ICICI Bank Credit Card or SBI Cashback Credit Card?
As of 11 Oct 2026, Amazon Pay ICICI Bank has the lower annual fee: nothing, as it is lifetime free, against ₹999 (₹1,179 with 18% GST) on SBI Cashback. SBI Cashback waives its fee after ₹2,00,000 of spend in a card year.
Do Amazon Pay ICICI Bank Credit Card and SBI Cashback Credit Card offer airport lounge access?
As of 11 Oct 2026, neither Amazon Pay ICICI Bank nor SBI Cashback lists complimentary lounge access of any kind, airport or railway. For spending abroad, Amazon Pay ICICI Bank adds 1.99% in forex markup against 3.5% on SBI Cashback.
Which card has lower forex markup, Amazon Pay ICICI Bank Credit Card or SBI Cashback Credit Card?
As of 11 Oct 2026, Amazon Pay ICICI Bank has the lower forex markup: 1.99%, against 3.5% on SBI Cashback. With 18% GST on the markup, ₹1,00,000 spent abroad costs about ₹2,348 extra on Amazon Pay ICICI Bank and ₹4,130 on SBI Cashback, a ₹1,782 difference.
For a frequent traveller, is the Amazon Pay ICICI Bank Credit Card or SBI Cashback Credit Card better value?
On figures as of 11 Oct 2026, SBI Cashback comes out ahead for a frequent traveller (about ₹1.2 lakh a month with heavy travel and forex spend), with a net annual value (rewards, perks and milestones, less the annual fee and forex markup) of ₹12,480 against ₹8,304 on Amazon Pay ICICI Bank, a ₹4,176 gap. That figure includes the forex markup on this traveller's spend abroad, where Amazon Pay ICICI Bank charges 1.99% against 3.5% on SBI Cashback.
For everyday spending, which returns more: Amazon Pay ICICI Bank Credit Card or SBI Cashback Credit Card?
On figures as of 11 Oct 2026, SBI Cashback comes out ahead for an everyday spender (about ₹40,000 a month across groceries, bills, dining and fuel), with a net annual value (rewards, perks and milestones, less the annual fee and forex markup) of ₹9,000 against ₹5,160 on Amazon Pay ICICI Bank, a ₹3,840 gap. At this spend SBI Cashback waives its ₹999 annual fee.
Which is better, Amazon Pay ICICI Bank Credit Card or SBI Cashback Credit Card?
As of 11 Oct 2026, Amazon Pay ICICI Bank earns 1% on everyday spends outside merchant or portal bonuses, paid as cashback, and SBI Cashback earns 5% on online shopping at best, paid as cashback. SBI Cashback comes out ahead on net annual value in all four spend profiles we model. The case for Amazon Pay ICICI Bank is that it is lifetime free against a ₹999 annual fee and charges 1.99% on foreign-currency spend against 3.5%.