Flipkart Axis Bank Credit Card has been ranked as the best Axis Bank Credit Card for the middle class in MyRupaya's AI-Powered unbiased ranking, you can see all the high ranked credit card here.
Axis Bank has launched a number of unique credit cards in India in partnership with other consumer brands. The Flipkart Axis Bank Credit Card is one such co-branded credit card created through a partnership between Flipkart, one of India’s major e-commerce platforms, and Axis Bank, this credit card is designed to offer remarkable benefits for frequent users.
This post provides a thorough analysis of the Flipkart Axis Bank Credit Card, exploring its upsides, downsides, fees, and eligibility requirements. Armed with this information, potential applicants can make informed decisions about whether this card meets their needs.
Benefits of the Flipkart Axis Bank Credit Card
The Flipkart Axis Bank Credit Card offers several key advantages tailored to online shopping enthusiasts.
1. Cashback
Creditcard holders get unlimited 5% cashback on Flipkart & Myntra
Creditcard holders get 4% cashback on Swiggy, PVR, Cult.fit, TATA Play, and Uber.
2. Welcome Benefits
Credit Card Holders get INR 600 as card activation benefit. Along with that creditcard holders also get INR 500 worth Flipkart vouchers on their first transaction, and 50 % off upto INR 100 on 1st order on Swiggy.
3. Complimentary Lounge Access
Cardholders gain access to free memberships for select services. This may include benefits from e-commerce giants or streaming platforms like Netflix or Spotify, depending on the promotions available at sign-up. Such memberships can save you money and offer entertainment value.
4. Welcome Benefits
New cardholders can benefit from various exciting welcome offers, including discounts on the first few purchases or a significant number of bonus reward points. For instance, if you receive 2,000 reward points upon signing up, this could translate into discounts worth up to ₹500 on future shopping.
5. Flexible Redemption Options
The earned rewards can be redeemed for discounts on future purchases or for redeeming attractive offers through partner vendors. This flexibility significantly increases the card's utility, as it allows cardholders to choose how they want to use the benefits.
6. No Expiry on Reward Points
Most credit cards have expiration dates for reward points. However, the Flipkart Axis Bank Credit Card allows you to accumulate points without worrying about them expiring, offering you ample time to plan your rewards strategy.
Drawbacks of the Flipkart Axis Bank Credit Card
Despite its advantages, the Flipkart Axis Bank Credit Card also has some limitations.
1. Limited Perks
Apart from the cashback the card offer limited perks. It is not a premium credit card.
Fees and Charges
It's essential to understand the fees that come with the Flipkart Axis Bank Credit Card.
Joining fee: Rs. 500
Annual fee -2nd year Onwards: Rs. 500 Annual fee waived off on annual spends greater than Rs. 2,00,000)
Cash withdrawal fee from ATM - 2.5% of the cash amount.
Late payment fee: charged depending on the customer’s Total amount due; ranges from Rs. 0 - 1200 .
Interest Rate: 3.6% per month (52.86% per annum)
Reward Redemption fee: Not applicable.
Eligibility for the Flipkart Axis Bank Credit Card
Understanding the eligibility requirements is essential for potential applicants.
1. Age Requirement
Typically, applicants must be a minimum of 18 years old. Many credit card issuers also have a maximum age limit, generally around 65 years.
2. Income Criteria
A stable and regular income is a key requirement for obtaining the card. Flipkart Axis Bank often looks for a higher income level to increase the chances of approval, particularly for premium variants of their cards.
3. Credit History
Having a positive credit history is important. Generally, a credit score above 750 is desirable, please note that the HSBC website does not specify the minimum Cibil score eligibility threshold for this card.
4. Residence
The applicant should be resident of India.
Wrapping Up
There are very few credit cards in India which offer uncapped cashback. Flipkart Axis Bank Credit Card is one such credit card. The USP of the card is the 5% cashback it offers on Flipkart. The credit card is also a good all-rounder credit card.
By understanding all aspects of the Flipkart Axis Bank Credit Card, you can make a well-informed decision that aligns with your shopping habits and financial goals. Always conduct thorough research and consider your unique spending patterns before committing to any credit product.
If you want to read a more detailed review of this card and find out its AI-powered unbiased rating click here.
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