Flipkart Axis Bank Credit Card: Is it Worth It in 2024? Pros & Cons

Bank Expert

4 Feb 202405:05

Summary

TLDRThe video reviews the Flipkart credit card, highlighting the numerous benefits it offers including unlimited 5% cashback for the first 30 days, 4% cashback on partners like PVR & TataCliQ, and 1.5% cashback on other online/offline spends. Additional perks are domestic airport lounge access and EMI conversion on large spends. However, no cashback is offered on certain transactions like EMI payments, fuel, gold purchases etc. Though beneficial for regular spending, for avid Amazon shoppers the Amazon credit card may be better.

Takeaways

😊 Get unlimited 5% cashback on first transaction within 30 days of getting the card
😎 Get 4% cashback on transactions at partner brands like PVR, SpiceJet etc.
🤑 Get 1.5% cashback on all other online and offline spends
🚘 Get complimentary domestic airport lounge access
🛍️ 5% cashback on Flipkart spends capped at ₹500 per month
💳 No monthly limits on cashbacks earned
🔄 Cashback earned gets deducted from bill amount itself
🌍 3.5% forex charge on international transactions
😮 EMI conversion possible on large spends
❓ Ideal for regular and online shoppers

Q & A

What is the cashback offer on the first transaction within 30 days of getting the Flipkart credit card?
-You get unlimited 5% cashback on the first transaction if done within 30 days of getting the Flipkart credit card.
What is the cashback rate on transactions done on PVRR, Sujung and Clear Trip using the Flipkart credit card?
-You get 4% cashback on transactions done using the Flipkart credit card on PVRR, Sujung and Clear Trip.
What is the cashback rate on offline transactions done using the Flipkart credit card?
-You get 1.5% cashback on all offline transactions done using the Flipkart credit card.
What are some categories where you don't get any cashback for spends using the Flipkart credit card?
-You don't get any cashback for EMI transactions, paying rent, fuel fills, buying gift vouchers, purchasing gold or for cash withdrawals using the Flipkart credit card.
How does the cashback redemption work on the Flipkart credit card?
-The cashback earned gets deducted from the bill amount for the month before the final credit card bill is generated.
What are the charges for international transactions done using the Flipkart credit card?
-There is a 3.5% foreign transaction fee plus 18% GST applicable for international transactions done using the Flipkart credit card.
What is the eligibility criteria to get the Flipkart credit card easily?
-You can easily get the Flipkart credit card if you have a credit score of 750+ or if you have taken any loans previously.
Why does the video recommend getting the Flipkart credit card?
-The video recommends getting the Flipkart credit card because you get very high cashback, even on partner brands like PVRR, Sujung etc. There is also 1.5% cashback on offline spends.
Which is the best credit card if most online spends are on Amazon?
-If most of your online spends are on Amazon, the Amazon Pay ICICI Bank credit card is recommended over the Flipkart credit card.
What should you do if you have queries regarding which card to get?
-You can post your queries in the comments section of the video and the host will get back to you.

Outlines

00:00

😊 Overview of Flipkart Credit Card and its Benefits

The paragraph provides a detailed overview of the Flipkart credit card and its various benefits like unlimited 5% cashback on Flipkart and Myntra for first transaction within 30 days of card issuance, 1.5% cashback on other online/offline spends, 4% cashback on partners like PVR, CureFit etc. It also mentions airport lounge access for frequent travelers. No monthly limit on cashbacks.

05:01

😃 Invitation to Comment for Any Queries

The paragraph invites viewers to post any queries they may have regarding the Flipkart credit card in the comments section of the next video.

Mindmap

Keywords

💡credit card

A credit card allows users to make purchases and pay over time. This video reviews the features and benefits of the Flipkart credit card. It offers high cashback rates and reward points to incentivize usage.

💡cashback

Cashback refers to getting a percentage of money back on credit card purchases. The Flipkart card offers unlimited 5% cashback on online shopping for the first 30 days, making it very lucrative.

💡rewards

Credit cards provide reward points that can be redeemed for products, gift cards etc. The Flipkart card offers additional reward points on purchases from partner brands like PVR, Sugi, Clear Trip etc.

💡offline payments

The video states the Flipkart card offers 1.5% cashback even when used for offline payments at merchant outlets. This makes it suitable for regular, day-to-day spending.

💡no limit

There is no monthly limit set on the cashback earned through the Flipkart credit card. This makes it more flexible and attractive to users.

💡international payments

When used for international transactions, the Flipkart credit card charges a 3.5% foreign exchange fee plus 18% GST. This should be considered while planning overseas spending.

💡easy EMIs

For expenses above Rs 50,000, Flipkart credit card allows easy conversion to EMIs at checkout. This makes high-value shopping more affordable.

💡airport lounge access

For frequent travelers, the Flipkart credit card offers free domestic airport lounge access once per quarter. This gives additional comfort and privileges.

💡billing cycle

The cashback earned each month gets adjusted against the credit card bill directly for that billing cycle. This reduces outstanding dues.

💡approval criteria

The video advises that the Flipkart credit card is easily approved for anyone with a credit score about 750 or with a previous loan. Hence approval criteria seems relaxed.

Highlights

Get unlimited 5% cashback on first transaction within 30 days of getting the card

Get 5% cashback on Flipkart and Myntra, 4% cashback on partners like PVR, CureFit and Tata CliQ

1.5% cashback on other online/offline spends

Get quarterly domestic airport lounge access if high spender

Can convert high spends to easy EMIs

No cashback on wallet reloads, EMI transactions, etc.

Cashback automatically gets deducted from bill amount

3.5% foreign transaction fee plus 18% GST applicable

Annual fee applicable similar to other credit cards

Flipkart credit card offers good cashback for regular spends

Amazon ICICI Bank credit card better for online shopping

Easy to get for existing Axis Bank customers

Good option for cashback on Flipkart, Myntra, partners

Also offers offline cashback unlike most other cards

Contact for queries on which card best suits your spends