If you shop online, chances are you would have seen an Amazon Pay payment option on most websites. Amazon’s own payment wallet ‘Amazon Pay’ is going places. In the past 2 years, we have used it for insurance payments, utility bills, shopping, food orders, and a lot more. But why use Amazon Pay instead of credit cards which give us a minimum of 1% cashback? Because using Amazon Pay can give us over and above 5% discount on all purchases. Sounds interesting? It is simple – all we need to do is buy Amazon gift cards at a discount and add them to our Amazon Pay account. In this post, we discuss three portals where we can buy Amazon gift cards at a discount from 5% to 14%.
HDFC Bank Smartbuy is the pioneer when it comes to accelerated credit card rewards. We can buy Amazon gift cards from Gyftr Instant Vouchers which is one of the partners on Smartbuy. We can buy Rs 10000 worth of Amazon gift cards per month from Smartbuy. The rewards vary from 3.5% to 15% as per the debit/credit card variant. The reward rates take into account the 1.5% processing fees that Smartbuy recently added for Amazon gift cards.
HDFC Bank Smartbuy has also added Amazon Shopping gift vouchers. We can buy Amazon Shopping GV from Gyftr Instant Vouchers which is one of the partners on Smartbuy. We can buy Rs 10000 worth of Amazon shopping GV cards per month from Smartbuy. This is in addition to the 10K cap on Amazon Pay vouchers listed above. The rewards vary from 5% to 16% as per the debit/credit card variant. Also, there is no processing fee on Amazon Shopping Vouchers for now.
InterMiles is more for booking flights. But we can use InterMiles for buying Amazon gift cards as well. We get a 5% discount on Amazon gift vouchers in Digi Stores. For example, if we buy a Rs 2500 Amazon GV then we can use 305 InterMiles for getting Rs 125 discount. This is a value of 40 paise for each InterMile. Plus, we also get card rewards on top of this which can be 3.3% for Infinia/DCB/Ultimate. A maximum of Rs 50000 worth of gift vouchers can be purchased every month from InterMiles.
Axis Bank’s Grab Deals partner Gift Edge is another source for buying Amazon gift cards with 3X rewards. We can buy Rs 10000 worth of vouchers every month. With 3X rewards, we get the below return for different variants. We also get the bonus of 25000 EDGE RP on Magnus if we complete Rs 1 Lakh spend in a month.
| Credit Card | Regular Earn Rate | 3X Earn Rate |
|---|---|---|
| Burgundy Private, Reserve | 15 RP/Rs 200 ~1.5% | 45 RP/Rs 200 ~4.5% |
| Magnus | 12 RP/Rs 200 ~1.2% | 36 RP/Rs 200 ~3.6% |
| Select, Signature, Privilege | 10 RP/Rs 200 ~1% | 10 RP/Rs 200 ~3% |
Axis Bank’s Grab Deals partner Gift Edge has also added Amazon Shopping gift vouchers with 5X rewards. The shopping vouchers can only be used for buying products from Amazon and cannot be used for bill payments or Amazon Pay gateway payments. With 5X rewards, we get the below return for different variants. We also get the bonus of 25000 EDGE RP on Magnus if we complete Rs 1 Lakh spend in a month. We can buy up to Rs 50000 worth of Amazon shopping vouchers in a calendar month. This is in addition to the 10K cap on Amazon Pay vouchers listed above.
| Credit Card | Regular Earn Rate | 5X Earn Rate |
|---|---|---|
| Burgundy Private, Reserve | 15 RP/Rs 200 ~1.5% | 75 RP/Rs 200 ~7.5% |
| Magnus | 12 RP/Rs 200 ~1.2% | 60 RP/Rs 200 ~6% |
| Select, Signature, Privilege | 10 RP/Rs 200 ~1% | 50 RP/Rs 200 ~5% |
SBI Yono Gyftr and SBI Card Gyftr are two little-known portals for discounted Amazon vouchers. We can buy Amazon GVs at a 2.5% to 3% discount using any SBI credit card. This can be a good deal for SimplyCLICK and Cashback cards where we get accelerated rewards on online spending.
These are some of the sources from where I have been buying Amazon gift cards at a discount for my spending. This is also a good way to meet those spending offers and annual fee waiver targets on credit cards.
So, go ahead and explore, and do not forget to use Amazon Pay wherever it is available. 🙂
