Flipkart Axis Card Rules Changing From June 20

Flipkart Axis Card: The Flipkart Axis Bank Credit Card ranks among the most widely used cashback cards in the market. Competing cards in this segment include the Cashback SBI Card, Amazon Pay ICICI Bank Credit Card, HSBC Live+ Credit Card, and Swiggy HDFC Bank Credit Card. These cards attract users with their simple and transparent reward structures, offering cashback as a fixed percentage of the transaction amount.

Now, Axis Bank has announced significant changes to the Flipkart Axis Bank Credit Card, which will take effect on June 20. As these updates approach, it’s important to understand what modifications the bank has introduced and how they might affect cardholders moving forward.

Flipkart Axis Bank Credit Card Changes:

1. More cashback on Myntra
Previously, the Flipkart Axis Bank Credit Card offered 1% Myntra cashback. The cashback rate will rise from 1% to 7.5% on June 20. Customers on Myntra will be happy since they will receive an extra 6.5% cashback.

Every statement quarter, the maximum cashback that can be obtained on Myntra purchases is Rs. 4,000. Your statement date determines the statement quarter.

Cardholders will continue to earn 5% cashback on purchases made through Cleartrip and Flipkart. However, starting June 20, Flipkart Axis Bank will cap the cashback amount, previously unlimited, at ₹4,000 per statement quarter for each platform. This means cardholders can earn up to ₹4,000 cashback on Flipkart and another ₹4,000 on Cleartrip within the same quarter.

The bank will credit the cashback directly to the cardholder’s credit card account. Moreover, it will process the cashback three days before the next statement generation date. For example, if the cardholder’s statement date is May 20, the cashback for purchases made between April 21 and May 20 will be credited on June 17.

2. Termination of free access to airport lounges

Starting June 20, Axis Bank will discontinue the free domestic airport lounge access benefit for Flipkart Axis Bank Credit Card holders. Previously, the bank allowed four complimentary lounge visits per calendar year, provided cardholders met specific spending thresholds. This benefit stood out as a major perk for an entry-level credit card, offering added value to frequent travelers. However, by removing this feature, Axis Bank may disappoint many of its cardholders who relied on the lounge access as a key advantage.

Also Read: 4 Tips to Improve Credit Score While Unemployed

3. Modifications to the cashback spend exclusion strategy

Axis Bank has recently simplified the process of identifying transactions that are not eligible for reward points or cashback. Previously, the bank used a designated 4-digit Merchant Category Code (MCC) to determine the ineligible categories. However, moving forward, Axis Bank will now identify excluded transactions based on the expenditure category instead of relying on the MCC code. This change streamlines the process and makes it easier for cardholders to understand which transactions qualify for rewards.

Transactions in the following categories:
1. Utility and telecom
2. Education
3. Rent
4. Wallet loading
5. Government services
6. Insurance
7. Gold and jewellery
8. Fuel
9. Financial institutions
10. Cash advances
11. Repayments

Also Read: Should You Co-Sign a Loan? Know the Credit Impact

When you spend Rs. 3,50,000 or more in a year, the Rs. 500 yearly fees associated with the Flipkart Axis Bank Credit Card are removed. The spend-based annual fee waiver will not be applied to wallet loading or rental transaction expenses.