The LED light isn't the fire hazard.

No. An LED indicator draws almost no power – we’re talking milliamps. It’s not going to melt or spark.

The real fire risk from an extension cord comes from overloading it, using a gauge too thin for the load, or a damaged cord. A cheap cord with a fancy LED is still a cheap cord. The LED is just a blinky light.

If you’re buying a cord for heavy use, worry about the wire gauge and the build quality, not whether it has a nightlight. And don’t leave any extension cord coiled up under a rug.

The LED isn’t where you save your worry.