Axis Bank ACE vs Amazon Pay ICICI
A field-by-field comparison of fees, reward rates, accelerated categories, caps, exclusions, lounge access and forex markup, using each issuer's own published terms. Affiliate payout never decides the verdict.
Short answer
Axis Bank ACE and Amazon Pay ICICI differ first on recurring cost: Axis Bank ACE has an annual fee of ₹499 against ₹0 for Amazon Pay ICICI, so Amazon Pay ICICI is cheaper to hold. On rewards, Axis Bank ACE earns 1.5% in Cashback while Amazon Pay ICICI earns 1% in Amazon Pay balance. Amazon Pay ICICI has the lower forex markup at 1.99%. Neither card wins outright: the better choice depends on which accelerated categories match your spend, the monthly caps, the exclusions and issuer approval fit.
Source: CardMasters issuer-evidence catalogue, release 2026-08-01. Confirm final terms with the issuer.
| Feature | Axis Bank ACE | Amazon Pay ICICI |
|---|---|---|
| Issuer | Axis Bank | ICICI Bank |
| Joining fee | ₹499 | ₹0 |
| Annual fee | ₹499 | ₹0 |
| Fee waiver | ₹2,00,000 annual eligible spend | No waiver recorded |
| Base rewards | 1.5% in Cashback | 1% in Amazon Pay balance |
| Accelerated routes | GPay bill payments/DTH/recharge · Swiggy, Zomato and Ola | Amazon (Prime members) · Amazon (non-Prime) · Amazon Pay partner merchants |
| Reward exclusions | fuel, rent, wallet load, emi, utility, telecom, education, government, insurance, gold, jewellery, financial institutions, cash advance, repayments | fuel, rent, gift cards, wallet load |
| Forex markup | 3.5% | 1.99% |
| Domestic lounge | 4/yr (spend condition) | none |
| International lounge | none | none |
| Card networks | Visa | Visa, RuPay |
| Best suited to | bills utilities, cashback, flat rate | amazon, cashback, first card, lifetime free |
| Issuer evidence | Checked 2026-07-23 | Checked 2026-07-16 |
Frequently asked questions
Is the Axis Bank ACE better than the Amazon Pay ICICI?
Neither is universally better. Axis Bank ACE charges ₹499 a year and earns 1.5% in Cashback; Amazon Pay ICICI charges ₹0 and earns 1% in Amazon Pay balance. The better card is the one whose accelerated categories, caps and exclusions match your actual spending, after subtracting the annual fee and GST.
Which of the two has the lower annual fee, Axis Bank ACE or Amazon Pay ICICI?
Amazon Pay ICICI has the lower recorded annual fee at ₹0. A spend-based waiver may reduce the effective cost of the other card, so check the waiver threshold before deciding.
Which is better for international spending, Axis Bank ACE or Amazon Pay ICICI?
Amazon Pay ICICI publishes the lower forex markup at 1.99% versus 3.5%. Also confirm whether international transactions earn rewards, since some issuers exclude them.
Can I hold both cards together?
Yes, provided each is approved on its own merits and you can pay both statements in full. Holding both makes sense only when their accelerated categories do not overlap; otherwise the second card adds an annual fee without adding rewards.