There are a lot of ways where you can use your Credit Card to pay for certain things which will give maximum returns. There is one way where people were saving some money by paying for insurance is to use Amazon Pay. If you have a SBI Credit Card, Infinia or any other good credit, then you will get 5 or more than 5% returns when you buy Amazon Pay Gift Card.
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Say you buy around Rs 20K Amazon Pay Gift Card using the SBI cashback, then you will get Rs 1K as cashback I.e. 5%. Now you can use this Amazon Pay Gift Card to pay for Utility bills as well as insurance. I'd you directly pay then you will not get 5% cashback but through this route you will get the cashback. Now this was a loophole and now the Amazon has fixed the loophole. That means now Amazon doesn't allow you to pay the Insurance using the Amazon Pay Gift card.
So that means if you have added the money in the Amazon Pay for paying the insurance then it's stuck. A lot of people are creating the posts on Reddit for the same issue as they were not able to pay using the Amazon pay Gift card. Someone has been stuck with 25K Amazon Pay balance. And thus we have to always confirm before adding into the wallet.
Now the next best action is to use the CoverSure App and using that you can pay the insurance via Amazon Pay. The only problem with this approach is that CoverSure app charges somewhere around 1%. That means for Rs 20K you have to pay around Rs 200 for charges. And you will get 4% I.e. 800 effective cashback. Which is again not that bad too but you never know when the CoverSure will also remove this option. And that's why before loading into your Amazon Pay, always double check the possibility of payment.
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