Tech giant Samsung launches a co-branded Visa credit card in cooperation with Axis Bank in India
The co-branded Samsung Axis Bank credit card will be available in Signature and Infinite variants. Both will offer cardholders 10% cashback on all Samsung products and purchases. Besides, the loyalty program allows earning points on all Non-Samsung transactions.
Accelerated rewards come on purchases with key partner merchants: bigbasket, Myntra, Tata 1mg, Urban Company and Zomato. Other perks include airport lounge access and a 1% fuel surcharge waiver.
The cards will be available to Indian nationals aged 18-70 who are either employed or self-employed.
Samsung Axis Infinite card incurs a joining / annual fee of INR 5000 + GST. However, the annual fee (applicable from the 2nd year of use) would be waived if customers spend INR 7 lac within a year from the card issuance date.
The Signature variant is less expensive. It costs INR 500 + GST per year, with the same joining fee. Avoiding the annual fee is possible if you spend INR 2 lac within a year since the card issuance.