Axis Credit Card: Is 7.5% Myntra Cashback Too Good to Be True?

Unveil the secrets of the Axis Flipkart Credit Card! Discover jaw-dropping cashback, hidden catches, and surprising perks that could transform your shopping game. Is it your wallet’s next big win or a costly trap? Dive into our thrilling review to uncover the truth and outsmart your peers!
The Axis Flipkart Credit Card, launched in July 2019, is a co-branded credit card offered by Axis Bank in partnership with Flipkart, one of India’s leading e-commerce platforms. Designed for online shoppers, particularly those loyal to Flipkart and its partner merchants, this card offers a robust cashback structure, lounge access, and other lifestyle benefits. With over 32 lakh active cards, it is one of the most popular credit cards in India, appealing to both salaried and self-employed individuals who prioritize cashback over reward points. The card is tailored for frequent online shoppers, offering accelerated cashback on Flipkart, Myntra, Cleartrip, and select partner merchants like Swiggy, Uber, and PVR. However, its benefits are tempered by certain limitations, such as transaction exclusions and a high annual fee waiver threshold. This review provides an in-depth analysis of its features, rewards, fees, pros, cons, and a detailed comparison with peer cards to help you decide if it’s the right fit for your financial needs.
Review
The Axis Flipkart Credit Card is a strong contender in the cashback credit card segment, particularly for those who frequently shop on Flipkart, Myntra, or partner platforms. Its unlimited cashback structure, directly credited to the cardholder’s statement, simplifies the reward process compared to loyalty points or wallet-based systems. The card’s appeal lies in its high cashback rates (up to 7.5% on Myntra and 5% on Flipkart and Cleartrip), making it a go-to choice for e-commerce enthusiasts. Additional perks, such as complimentary domestic lounge access and dining discounts, enhance its value for urban spenders. However, recent devaluations, such as the reduction of Myntra cashback from 5% to 1.5% (now reinstated to 7.5%), and a high annual fee waiver threshold of ₹3.5 lakh have drawn criticism. The card’s exclusions on cashback for categories like fuel, insurance, and EMI transactions may also limit its appeal for users with diverse spending habits. Overall, it remains a compelling option for Flipkart loyalists but requires careful consideration of spending patterns to maximize value.

- Joining Fees: Rs 500 + GST
- Annual fees: Rs 500 + GST
- Unlimited 5% cashback on Flipkart.
- 4% cashback on PVR, Swiggy, and Uber.
- 15% off with EasyDiner
Rewards and Benefits
The Axis Flipkart Credit Card offers a tiered cashback structure and additional lifestyle benefits, making it attractive for online shoppers and urban consumers. Below is a detailed breakdown of its rewards and benefits:
Cashback Rewards
- 7.5% Cashback on Myntra: Unlimited cashback on Myntra purchases, capped at ₹4,000 per statement quarter. Ideal for frequent fashion shoppers.
- 5% Cashback on Flipkart and Cleartrip: Unlimited cashback on transactions made on Flipkart and Cleartrip Ascertain whether cashback applies to EMI transactions or specific excluded categories (e.g., fuel, insurance, gift cards, wallet reloads, jewelry, cash advances, rentals, utilities, education, government services, or card fees). The cashback is credited directly to the cardholder’s statement in the next billing cycle, simplifying the redemption process.
Exclusions
Cashback is not applicable on:
- Fuel purchases
- Gift card purchases on Flipkart/Myntra
- EMI transactions (including post-purchase conversions)
- Wallet reloads
- Jewelry purchases
- Cash advances
- Rental payments
- Insurance, utilities, education, government services
- Card fees and outstanding balance payments
Lounge Access
- 4 Complimentary Domestic Lounge Visits per Year: Access to select domestic airport lounges, subject to a minimum spend of ₹50,000 in the previous three months. No international lounge access is provided.
Dining Benefits
- 15% Discount at Partner Restaurants: Up to ₹500 off at over 10,000 restaurants via the Axis Bank Dining Delights program with EazyDiner.
Fuel Surcharge Waiver
- 1% Waiver: On fuel transactions between ₹400 and ₹4,000, with a maximum waiver of ₹400 per month.
EMI Conversion
- Transactions above ₹1,500 (or ₹2,500 in some cases) can be converted into EMIs by contacting Axis Bank’s customer care. Note that EMI transactions do not earn cashback.
Interest-Free Period
- Up to 50 days of interest-free credit, provided the balance is paid in full by the due date. This is standard for most credit cards but crucial for avoiding high interest charges.
Fees and Charges
The Axis Flipkart Credit Card has a modest fee structure, but certain charges, such as those for cash advances and late payments, can add up. Below is a detailed list of fees and charges:
- Joining Fee: ₹500 + GST
- Annual Fee: ₹500 + GST (waived for annual spends exceeding ₹3.5 lakh)
- Foreign Currency Transaction Fee: 3.5% of the transaction value
- Cash Advance Fee: 2.5% of the amount withdrawn (minimum ₹500)
- Finance Charges: 3.6% per month (52.86% p.a.) for retail purchases and cash advances
- Late Payment Fee: Up to ₹1,200, depending on the outstanding balance
- Overlimit Penalty: 2.5% of the over-limit amount (minimum ₹500)
- Cheque Return/Auto-Debit Reversal Fee: 2% of the amount (minimum ₹450, maximum ₹1,500)
- Cash Payment Fee: ₹100
- Railway Ticket Surcharge: As prescribed by IRCTC/Indian Railways
Note: Taxes, as per government norms, apply to all fees and charges. The high annual fee waiver threshold (₹3.5 lakh) may be challenging for entry-level cardholders to achieve.
Pros
- High Cashback Rates: Up to 7.5% on Myntra, 5% on Flipkart and Cleartrip, and 4% on select partner merchants, ideal for frequent online shoppers.
- Direct Cashback: Cashback is credited directly to the statement, simplifying redemption compared to points-based systems.
- Welcome Benefits: Vouchers worth up to ₹600 (₹500 Flipkart voucher and ₹100 Swiggy discount) add immediate value.
- Lounge Access: Four complimentary domestic lounge visits per year enhance travel perks.
- Dining Discounts: 15% off at over 10,000 partner restaurants via EazyDiner.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions (up to ₹400/month) is useful for drivers.
- EMI Conversion: Flexible EMI options for purchases above ₹1,500 or ₹2,500.
- Wide Acceptance: Usable for online and offline transactions, including POS swipes and ATM withdrawals (though cash withdrawals are costly).
Cons
- High Annual Fee Waiver Threshold: ₹3.5 lakh annual spend required to waive the ₹500 annual fee, which may be steep for some users.
- Cashback Exclusions: No cashback on fuel, EMI transactions, gift cards, wallet reloads, jewelry, insurance, utilities, education, government services, or card fees.
- Limited Lounge Access: Only four domestic lounge visits per year, with a ₹50,000 prior spend requirement, and no international lounge access.
- High Interest Rates: 3.6% per month (52.86% p.a.) on unpaid balances, making it critical to pay dues on time.
- Cash Advance Costs: 2.5% fee (minimum ₹500) plus 3.6% monthly interest, discouraging ATM withdrawals.
- Customer Service Issues: Some users report difficulties with customer support and voucher redemption.
- Quarterly Cashback Caps: ₹4,000 cap per quarter on Flipkart, Myntra, and Cleartrip cashback limits benefits for high spenders.
- Devaluation History: Past reductions in cashback rates (e.g., Myntra from 5% to 1.5%) raise concerns about future changes.
Comparison with Peer Credit Cards
Below is a detailed comparison of the Axis Flipkart Credit Card with its key competitors: Amazon Pay ICICI Credit Card, Axis Bank ACE Credit Card, and SBI Cashback Credit Card. This table highlights their features, rewards, fees, and suitability based on spending habits.
Feature |
Axis Flipkart Credit Card |
Amazon Pay ICICI Credit Card |
Axis Bank ACE Credit Card |
SBI Cashback Credit Card |
Annual Fee |
₹500 (waived on ₹3.5L spend) |
Lifetime Free |
₹500 (waived on ₹2L spend) |
₹999 (waived on ₹2L spend) |
Welcome Benefits |
₹600 (₹500 Flipkart voucher, ₹100 Swiggy discount) |
Amazon Prime membership (₹1,499 value) + ₹500-₹1,000 Amazon voucher |
None |
₹1,000 voucher |
Cashback Structure |
7.5% Myntra, 5% Flipkart/Cleartrip, 4% Swiggy/Uber/PVR/Cult.fit, 1.5% others |
5% Amazon (Prime), 3% Amazon (non-Prime), 2% Amazon Pay, 1% others |
5% Google Pay utilities, 4% Swiggy/Ola/Zomato, 2% others |
5% online, 1% offline |
Cashback Caps |
₹4,000/quarter (Flipkart, Myntra, Cleartrip) |
None |
₹500/month (Google Pay) |
None |
Lounge Access |
4 domestic visits/year (₹50K prior spend) |
None |
4 domestic visits/year (₹50K prior spend) |
None |
Dining Benefits |
15% off (up to ₹500) at 10,000+ restaurants |
15% off at select partners |
15% off at select partners |
None |
Fuel Surcharge Waiver |
1% (₹400-₹4,000, max ₹400/month) |
1% (₹400-₹4,000, max ₹400/month) |
1% (₹400-₹4,000, max ₹400/month) |
1% (₹100-₹4,000, max ₹100/month) |
EMI Conversion |
₹1,500+ transactions |
Amazon purchases only |
₹2,500+ transactions |
₹2,500+ transactions |
Foreign Transaction Fee |
3.5% |
3.5% |
3.5% |
3.5% |
Interest Rate |
3.6%/month (52.86% p.a.) |
3.5-3.8%/month |
3.6%/month |
3.5%/month |
Exclusions |
Fuel, EMI, gift cards, wallet reloads, jewelry, insurance, utilities, education, government services |
Fuel, EMI, wallet reloads (except Amazon Pay), insurance, utilities |
Fuel, EMI, wallet reloads, insurance, utilities |
Fuel, EMI, wallet reloads, insurance, gold |
Eligibility |
Age 18-70, ₹3L annual income, CIBIL 700+ |
Age 18-70, ₹3L annual income, CIBIL 700+ |
Age 18-70, ₹3L annual income, CIBIL 700+ |
Age 18-70, ₹4L annual income, CIBIL 700+ |
Best For |
Flipkart/Myntra shoppers, lounge access seekers |
Amazon Prime users, no-fee seekers |
Utility bill payers, Google Pay users |
Broad online shoppers |
Recommendations
The Axis Flipkart Credit Card is a strong choice for specific users but may not suit everyone. Below are tailored recommendations based on spending habits and financial goals:
Who Should Get the Axis Flipkart Credit Card?
- Frequent Flipkart/Myntra Shoppers: If you regularly shop on Flipkart or Myntra, the 5% and 7.5% cashback rates offer significant savings, especially during sales.
- Urban Spenders: The 4% cashback on Swiggy, Uber, PVR, and Cult.fit suits city dwellers with frequent food delivery, cab, or entertainment expenses.
- Occasional Travelers: Four domestic lounge visits per year are valuable for those who fly a few times annually and meet the ₹50,000 prior spend requirement.
- Cashback Enthusiasts: The direct cashback credited to the statement is ideal for those who prefer simplicity over reward points or wallet credits.
- Disciplined Payers: The 50-day interest-free period is beneficial if you pay dues in full to avoid the steep 52.86% p.a. interest rate.
Who Should Avoid It?
- High Spenders: The ₹4,000 quarterly cashback cap on Flipkart, Myntra, and Cleartrip limits benefits for those spending over ₹80,000/quarter on these platforms.
- Diverse Spenders: If your spending spans categories like fuel, insurance, utilities, or government services, the cashback exclusions make other cards (e.g., SBI Cashback) more versatile.
- Fee-Averse Users: The ₹500 annual fee and ₹3.5 lakh waiver threshold may deter those who prefer lifetime-free cards like the Amazon Pay ICICI card.
- International Travelers: Lack of international lounge access reduces its appeal for frequent global travelers.
- Customer Service Sceptics: Reports of poor customer support and voucher redemption issues may frustrate those prioritizing seamless service.
Strategic Tips to Maximize Value
- Focus on High-Cashback Platforms: Use the card primarily for Flipkart, Myntra, Cleartrip, and partner merchants to leverage the 7.5%, 5%, and 4% cashback rates.
- Plan for Fee Waiver: Track annual spending to reach the ₹3.5 lakh threshold for waiving the ₹500 fee.
- Utilize Welcome Benefits: Redeem the ₹500 Flipkart voucher and ₹100 Swiggy discount within 30 days to maximize initial value.
- Avoid Excluded Transactions: Steer clear of EMI conversions, fuel, or other excluded categories to ensure cashback eligibility.
- Pay on Time: Clear the full balance within the 50-day interest-free period to avoid high interest charges.
- Leverage Sale Events: Combine cashback with Flipkart/Myntra sale discounts to amplify savings.
- Monitor Lounge Eligibility: Ensure ₹50,000 spend in the prior three months to unlock lounge access before travel.
Alternative Recommendations
- Amazon Pay ICICI Credit Card: Choose this for lifetime-free benefits, Amazon-focused cashback (5% for Prime members), and broader cashback eligibility (e.g., Amazon Pay wallet, utilities).
- Axis Bank ACE Credit Card: Opt for this if you pay utility bills via Google Pay (5% cashback) and want a lower fee waiver threshold (₹2 lakh).
- SBI Cashback Credit Card: Ideal for those with diverse online spending, offering 5% cashback on all online transactions without partner restrictions, though it lacks lounge access.
- HDFC Millennia Credit Card: Suitable for millennials with varied online spending, offering 5% cashback on platforms like Amazon, Flipkart, and Swiggy, plus milestone benefits.
Final thought
The Axis Flipkart Credit Card is a compelling choice for Flipkart and Myntra loyalists, offering high cashback rates (7.5% on Myntra, 5% on Flipkart/Cleartrip) and valuable perks like lounge access and dining discounts. Its direct cashback mechanism and welcome benefits add immediate value, but the high annual fee waiver threshold (₹3.5 lakh), cashback exclusions, and reported customer service issues may deter some users. Compared to peers like the Amazon Pay ICICI card (lifetime-free, broader cashback), Axis ACE (utility-focused), or SBI Cashback (versatile online rewards), it excels for specific e-commerce spending but falls short for diverse or fee-averse users. To maximize its value, focus on high-cashback platforms, pay dues on time, and track spending to meet fee waiver and lounge access thresholds. Evaluate your shopping habits and consider alternatives if your spending spans excluded categories or you prioritize no-fee cards.