Flipkart Axis Bank Credit Card – Review

India’s largest online store has to shake hand with India’s largest private sector bank – Axis Bank to offer unique credit cards to its customers. Flipkart Axis Bank Credit Card is a new and unique product for the entry-level credit card with unlimited cashback on the purchase. This co-branded credit card offers instant cashback of Rs. 500 on successful registration and approval. Before this, there is an Axis bank Flipkart buzz credit card available in the market. This credit card will replace the existing buzz credit card.

The Axis bank Flipkart card is enabled by Master card and is available for all the customers of Axis Bank and Flipkart. This will enable Flipkart to reduce cash on delivery transactions on the order booked on Flipkart.

Initially, the card will be available to select customers only. The same will be available to all in the last week of July 2019. The cashback earned on the purchase during the month will be auto-credited to the account statement.

The card will have a partnership with Make My Trip, GoIbibo, Uber, PVR, Gaana and many more. The consumer will get attractive cashback on the transactions done on these partnered websites.

The entry-level credit card will have an annual fee of Rs. 500 per annum, and will get four free airport lounge across India. The annual fee will be waived off if the yearly transactions cross Rs. 2 Lakh.

The card will be issued on the Mastercard platform same as its earlier Flipkart Axis bank Buzz card. Unfortunately, the earlier card was not successful in the market so far. With the launch of this upgraded version of credit card, the existing buzz credit card will become obsolete.

There is a new trend in the credit card industry for entry-level cards i.e. Flat cashback % on the purchase. Looks like Flipkart is attempting to tap the market with this new trend.

Features of Flipkart Axis Bank Credit Card

  • Joining/Annual Fee: Rs.500 (annual fee waived on 2L spend)
  • Welcome benefits: Rs.500 Flipkart Voucher, unlimited access of Gaana for 6 months, Rs. 500 off on domestic hotel booking through Make My Trip, 15% cashback, up to Rs. 500 on the first transaction on Myntra using Flipkart Axis Bank credit card
  • 4% cashback on Flipkart, Myntra & 2GUD
  • 1.5% flat cashback on any other spend
  • Free domestic airport lounge access (4 per year)
  • Auto credit of cashback every month

Pros and Cons of Axis Bank Flipkart Credit Card

Pros

  • 4% flat cashback on select brands
  • 1.5% cashback without any capping
  • Existing Buzz cardholder can upgrade to this new card
  • Free Access to the domestic airport lounge (4/year)
  • Instant welcome benefit as Flipkart voucher of Rs. 500
  • Easy upgrade from existing Buzz card
  • Total of Rs. 3300/- worth of joining benefits
  • Fuel surcharge waiver
  • Zero fees for card re-issue
  • Free duplicate statement

Cons

  • Cashback will be in the form of Flipkart cash and only redeem on the Flipkart
  • No cash back for wallet loading
  • No cash back on fuel spend, purchase of the gold item, EMI transaction and on gift cards
  • This card will come as an upgrade for existing Buzz card holder
  • This card will not offer 10% cashback on the first 5 transactions
  • Upgrade from Buzz to this card will have to submit all documents once again
  • Slow process (takes around 1 week after registration)
  • 3.5% foreign currency conversion fees

How to apply for Flipkart Axis Credit Card?

Here is the step-by-step process for applying for Flipkart Axis bank credit card.

  • Go to the Axis Bank website
  • Click on the “Apply Now” button
  • The new page will get open
  • Select “Yes” if you an existing Axis Bank customer, else select “No”
  • Enter details like your name, mobile number, monthly income and Pincode
  • Enter the Captcha code
  • Click on the “Call Me” button

The representative from the Axis Bank will call you to make your appointment for doing KYC and collecting necessary documents.

Amazon Pay ICICI vs Flipkart Axis credit card

The e-commerce giants are getting into the credit card business to diversify their business and earn extra revenues. More and more e-commerce companies are launching their own credit card and reward program. This is good for the consumer as they will get higher discounts and cashback.

Amazon Pay ICICI vs Flipkart Axis credit card

But at the same time, they get confused as there are many products available to choose from. Taking the right decision on the product which will suffice all your requirement is a tough task. To help you chose the best credit card, here is the complete guide with feature comparison.

So far so good! but is this card is really the best in the market? Can say just by checking these details. So we will now compare the Flipkart Axis bank credit card with Amazon ICICI bank credit card.

Why I have chosen to compare it with Amazon? because Flipkart and Amazon are into the same business. So it is good to have an apple to apple comparison.

Discount Rate :

This is the most important criteria for selecting the credit card. The discount rate refers to the % of the overall purchase as a flat discount while making the payment.

Amazon Pay ICICI card: 5% on Amazon spend, 2% on partner and 1% everywhere else.

Flipkart Axis bank card: 5% on Flipkart, 4% on partner and 1.5% everywhere else.

Score: Amazon Pay : 0 Flipkart : 1

Application Process:

This is the speed and ease of the application process. This will take consideration from applying for the credit card to the delivery of the card at your home.

Amazon Pay Card: If you are eligible, 2 minutes for applying and 2-3 days for card delivery at your home.

Flipkart Axis bank card: Easy and fast, 2 minutes for applying, receive a call from the bank for the appointment, card delivery within a week.

Amazon Pay -ICICI credit card is by far the best credit card when it comes to user experience be it in applying or the usage of the card. Amazon and ICICI have the best integration at this moment in India.

Score: Amazon Pay : 1 Flipkart : 0

Cashback:

Both Amazon and Flipkart are offering cashback credit into their wallet. Flipkart offers automatic direct credit of the cashback in the account statement every month.

While Amazon Pay credit the cashback to the Amazon pay wallet, which can be redeemed for any purchase on Amazon or paying utility bills or doing mobile recharge.

Flipkart frees you from the hassle of remembering and counting your cashback as it auto-credited to your account statement. While Amazon gives you the freedom fo redemption of the cashback to pay utility bills or mobile recharge. Both have their unique proposition here.

Score: Amazon Pay : 1 Flipkart : 1

Fees & Charges:

This is another point which you must consider while selecting the credit card. As credit cards don’t come free. There are heavy charges on cash withdrawal and the late payment penalty.

I recommend you should never default on the credit card payment because it not only ruin your credit score but also attracts heavy penalty and interest charges. Below is the comparison table between Amazon pay and Flipkart Axis credit card.

Particulars

Joining Fee

Annual Fee

Overdue Interest Charges

Cash Payment Fee

Duplicate Statement Fee

Charge slip retrieval Fee

Card Replacement Fee

Over Limit Penalty

Cheque Return Charges

Fuel Surcharge

Amazon Pay

Free

Free

3.5% to 3.8%

Rs. 100

Rs. 100

Rs. 100/Slip

Rs. 100

3% on over limit

2% of the amount

Waived off

Flipkart

Rs. 500

Rs. 500/year

3.4%

Rs. 100

Free

Waived off

Waived off

2.5% on over limit

2% of the amount

Waived off

Most of the above charges are for the services you hardly require. Amazon Pay comes with zero annual fees while Flipkart is charging Rs. 500/year which is huge as this is the recurring charges you need to pay every year irrespective of your spending. Though the same can be waived off if you spend Rs. 2 lakh per annum.

Score: Amazon Pay : 1 Flipkart : 0

So it is clearly coming out that the Amazon Pay is a winner after considering all the major points which you need to look for while selecting a credit card.

Final Score : Amazon Pay = 3 Flipkart = 2

There are many other aspects which you need to check while selecting the credit card. The main thing you should look for is the objective of having a credit card.

Conclusion:

One size doesn’t fit all. The same way there is no single credit card that fits everyone.

Ask yourself why you want a credit card? What are you going to do with the credit card? What would be approx your monthly spend?

These are the key questions you need to ask yourself before selecting the credit card. Answers to these questions will help you to make an informed decision on the credit card.

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