Flipkart Launches Credit Card In Association with Axis Bank, Get 5% Cashback on Purchases
India’s fourth largest credit card issuer, Axis bank ties up with India’s ecommerce giant Flipkart to launch a co-branded credit card on last Thursday. Company’s aim to sell 1 million card in this year.
“We want to be the fastest co-branded credit card to reach the 1-million-mark. We should do 1 million in a year,” executive vice-president for payments and cards Sanjeev Moghe told reporters. The bank has 6.17 million cards in use, making it the fourth largest issuer in the country.
The customers have to pay Rs.500 as a joining fee and Rs.500 as an annual fee for this card, which limit has a Rs.2 lakh.
The card will be available to selected users in July month and will be extended to all customers over the coming weeks.
Features and Benefits
Flipkart: Rs. 500 worth Flipkart vouchers on your first transaction anywhere with your Flipkart Axis Bank credit card.
Gaana: 6 months complimentary Gaana subscription for all Flipkart Axis Bank credit card holders.
Goibibo: Get Rs. 500 off on domestic hotel on Goibibo a minimum booking of Rs. 2000. Use coupon: GIAXISFK.
MakeMyTrip: Get Rs.500 off on domestic hotel on MakeMyTrip a minimum booking of Rs. 2,000. Use coupon: MMTAXISFK.
Myntra: Get 15% cashback up to Rs. 500 on your first transaction on Myntra using your Flipkart Axis Bank credit card.
Cashback With Every Transaction:
- 5% cashback on Flipkart, Myntra & 2GUD
- 4% cashback on preferred merchants
- 1.5% cashback on all other categories
Individuals eligible for Axis Bank Flipkart Credit Card:
- Primary cardholder should be between the age of 18 and 70 years
- Add-on cardholder should be over 15 years
- The individual should either be a Resident of India or a Non-Resident Indian
- Please note that these criteria are only indicative and the bank reserves the ultimate right to approve or decline applications for Axis Bank Flipkart Credit Card.
Required Documents for Axis Bank Flipkart Credit Card application :
Required documents for Neo Credit Card application:
- Copy of your PAN card or Form 60
- Residence proof
- Identity proof
- A color photograph and proof of income in the form of latest payslip / Form 16 / IT return copy.
The Axis Bank Flipkart Credit Card fees and charges are listed in the table below:
|Joining fee||Rs. 500|
|Annual Fee||1st year: Nil
2nd year: Rs. 500
|Add-on card joining fee||Nil|
|Add-on card annual fee||Nil|
|Card replacement fee (lost or stolen or re-issue)||Waived|
|Cash payment fee||Rs.100|
|Duplicate Statement fee||Waived|
|Charge slip retrieval fee or copy request fee||Waived|
|Outstation cheque fee||Waived|
|Mobile alerts for transactions||Free|
|Balance enquiry charges||Waived|
|Finance charges (Retail purchases and cash)||3.4% per month (49.36% per annum)|
|Cash withdrawal fees||2.5% (Min. Rs. 500) of the cash amount|
|Overdue penalty or Late payment fees||Nil if total payment Due is upto Rs. 100
Rs. 100 if total payment due is between Rs. 101 – Rs. 300
Rs. 300 if total payment due is between Rs. 301 – Rs. 1,000
Rs. 500 if total payment due is between Rs. 1,001 – Rs. 5,000
Rs. 600 if total payment due is between Rs. 5,001 – Rs. 10,000
Rs. 700 if total payment due is Rs. 10,001 and above
|Over limit penalty||3% of the over limit amount (Min Rs. 500)|
|Cheque return or dishonor fee or auto-debit reversal||2% of the payment amount subject to min. Rs. 450|
|Surcharge on purchase or cancellation of railway tickets||As prescribed by IRCTC/Indian Railways|
|Foreign currency transaction fee||3.5% of the transaction value|