Following co-branded cards from Amazon, Paytm and Ola Cabs, Flipkart has introduced its own co-branded credit card on the Mastercard network, issued by Axis Bank. Flipkart previously partnered with Axis Bank for the Axis Buzz credit card, but that card never gained widespread popularity. This new offering appears designed to align with the industry trend for entry-level cards that emphasize simple, flat cashback rates.
Key card attributes include a Rs.500 joining/annual fee (waived on annual spends of Rs.2 lakh) and welcome benefits such as a Rs.500 Flipkart voucher among other incentives.
Benefits at a Glance
- 5% cashback on Flipkart, Myntra and 2GUD purchases
- 4% cashback on select lifestyle and travel partners including MakeMyTrip, Goibibo, Uber, PVR, Curefit and UrbanClap
- 1.5% unlimited cashback on all other purchases
- Domestic airport lounge access: 4 visits per year
These are the details available so far; further specifics will be shared as they become available.
Like other recent co-branded launches, this card targets entry-level customers while offering a modest set of premium features. The inclusion of domestic lounge access is a notable perk commonly associated with Mastercard co-branded products.
How to Apply
Initially, Axis Bank plans to invite select customers to apply. Wider availability is expected in the coming weeks.
Multiple cards: Axis Bank can technically issue up to four credit cards per customer, although the exact number depends on the customer’s profile. Existing Axis Bank co-branded cardholders, such as those with Vistara cards, should generally be eligible to apply for the Flipkart card as well.
Bottom Line
Overall, this is a solid entry-level card that stands out among recent launches thanks to its lounge access benefit. The Rs.500 joining fee is offset somewhat by the welcome Flipkart voucher, making the net cost reasonable for users who will use the card for Flipkart and partner spends.
It is encouraging to see Axis Bank offering more competitive rewards through this partnership, improving on a track record that has had mixed results outside of a few strong co-branded products.
What do you think of the new Flipkart credit card from Axis Bank? Share your thoughts in the comments.
Source: CNBC/Uniindia