What can Axis Bank Flipkart Credit Card, a competitor of Amazon Pay ICICI Credit Card, offer?
We have recently considered the result of joint teamwork by Amazon and ICICI, and talking about Amazon Pay ICICI Credit Card. Today, we would be glad to review a similar product called Axis Bank Flipkart Credit Card, which is a result of cooperation between Indian e-commerce giant Flipcart and large financial institution Axis Bank of the same origin.
What is it?
Axis Bank Flipkart Credit Card is a co-branded credit card, developed by Axis Bank and Flipkart, and powered by MasterCard. The card is somewhat similar to Amazon Pay ICICI Credit Card, and sometimes is called its major rival (or nearest competitor). The card offers unlimited cashback and a lot of other perks. However, unlike Amazon’s, this card is not free. Initially, Axis Bank Flipkart Credit Card was offered in July 2019, and only selected users could apply for it. Nevertheless, in August 2019, the list of users who could apply for this card was extended. As we’ve mentioned above, the card is not free, so if you want to activate this card you’ll have to pay ₹500 (joining fee), thus, the first year will be paid. Then, you’ll have to pay the same ₹500 annual fee.
Features & benefits of Axis Bank Flipkart Credit Card
We’ve considered what this card is, so now it’s time to take a closer look at it. We have decided to start with benefits:
This card has embedded welcome and activation benefits, such as Flipkart vouchers, access to Gaana Plus membership (with a 50% discount for the next half-year subscription), ₹500 discounts for Makemytrip and Goibibo, 15% cashback on Myntra (using Axis Bank Flipkart Credit Card only), and discount for UrbanClap.
- 5% cashback on Flipkart, Myntra & 2GUD
- 4% cashback on preferred merchants
- 1.5% cashback on all other categories
- Goibibo cashback on special terms (check the site for more info)
- Makemytrip cashback on special terms (check the site for more info)
Airport lounge access
The card offers you four complimentary lounge visits within India yearly.
Fuel surcharge waiver
- You’ll get 1% fuel surcharge waiver on fuel purchases at any gas station in India
- It works only for transactions between ₹400 and ₹4000. Max benefits – ₹500 monthly
- GST charged on fuel surcharge is non-refundable
- No cashback for fuel transactions
Get up to 20% off at more than 4500 restaurants in India.
Charges & fees
|Annual Fee||1st year: 0
2nd year: ₹500
|Add-on card applying fee||0|
|Add-on card annual fee||0|
|Card replacement fee (lost or stolen or re-issue)||No|
|Cash payment fee||₹100|
|Duplicate Statement fee||No|
|Charge slip retrieval fee or copy request fee||No|
|Outstation cheque fee||No|
|Mobile alerts for transactions||Free|
|Balance enquiry charges||Waived|
|Finance charges (Retail purchases and cash)||3.4% a month (49.36% a year)|
|Cash withdrawal fees||2.5% (Min. ₹500) of the cash amount|
|Overdue penalty or Late payment fees||0 if payments are no more than ₹100
₹100 for payments from ₹101 to ₹300
Rs. 300 for payments from ₹301 to ₹1,000
₹500 for payments from ₹1,001 to ₹5,000
₹600 for payments from ₹5,001 to ₹10,000
₹700 for payments from ₹10,001 and above
|Over limit penalty||3% of the over limit amount (Min ₹500)|
|Cheque return or dishonor fee or auto-debit reversal||2% of the payment amount subject to min. ₹450|
|Surcharge on purchase or cancellation of railway tickets||As prescribed by IRCTC/Indian Railways|
|Foreign currency transaction fee||3.5% of the transaction value|
How to apply?
As we have said before, initially, not every user could join the program. However, today, the situation has changed. You can apply for this card at Axis Bank official website. The page shows you key features and benefits of the card, and asks you to fill the form (standard questions, such as name, phone number, etc). Apparently, you have to be a client of this bank, and if you are not invited, bank workers are supposed to give you a call once you fill the form.
According to comments and reviews of users, most customers are satisfied with this card. Limitless cashback and airport lounge access are features that are highly appreciated by clients. On the other hand, this card is not free, so you have to be sure that you need it, and you will shop enough to benefit from cashback (annual fee sum has at least to pay you off). Otherwise, you will be disappointed.
What is Axis Bank?
Axis Bank is a large Indian bank, which was founded in Mumbai (Maharashtra, India) in 1993. The bank operates worldwide and offers comprehensive financial products. Moreover, it specializes in serving clients that work in the agricultural sector.
Axis Bank is considered to be the third-largest private-sector Indian bank, with revenue of ₹68,116 crore ($9.9B), operating income of ₹19,005 crore ($2.7B), and net income of ₹4,667 crore ($680M). The total assets of the bank are about ₹801,000 crore ($130B). All the numbers are as of 2019.
As of 2019, 61,940 people work in this financial institution. Axis Bank has 4050 bricks-and-mortar branches, while there are also no less than 11,801 ATMs across India.
SEE ALSO: How to shop on Flipkart