Effective August 12, the Flipkart Axis Bank Credit Card has undergone modifications to its cashback benefits, impacting transactions at e-commerce giant Myntra.
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Previously, customers enjoyed a 5% cashback on such transactions, but the amended conditions have reduced it to 1.5%. This means patrons will now need to spend more to attain the same level of benefits.
Additionally, flight and hotel bookings conducted on Flipkart will also see a cashback reduction to 1.5%. However, all other purchases on the e-commerce platform will continue to accrue a 5% cashback.
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These changes, announced in July, entail some adjustments to the credit card’s lucrative features.
Axis Bank has also introduced alterations to its annual fee waiver structure. The co-branded credit card’s annual fee will only be waived for individuals with annual spends exceeding Rs 3.5 lakh. Notably, transactions related to rent and wallet loads will not qualify for this waiver under the new criteria.
Further Amendments to Flipkart Axis Bank Credit Card Terms
Several other changes have been implemented for the Flipkart Axis Bank Credit Card. Notably, cashback will no longer be available for payments made towards government services.
Moreover, the following transactions are ineligible for cashback: fuel expenditures, EMI transactions, gift card purchases on Flipkart and Myntra, retrospective conversion of purchases into EMIs, cash advances, wallet top-ups, utility payments, educational and insurance services, rental payments, jewelry purchases, outstanding balance settlements, card fees, and additional card charges.
Revisions to Other Axis Bank Credit Cards.
Axis Bank has introduced adjustments to various credit cards beyond the Flipkart Axis Bank Credit Card. For new members, the Tata CLiQ voucher benefit has been discontinued.
Additionally, modifications to terms and conditions for the popular Magnus credit cards are set to take effect from September 1.
Eligibility for the Flipkart Axis Bank Credit Card.
To be eligible for the Flipkart Axis Bank Credit Card, applicants must be Indian citizens aged between 18 and 70. Non-Resident Indians are also eligible to apply. However, the bank retains the discretion to decline any application.
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Interested individuals must provide proof of residence, identity, PAN card or Form 60, a colored photograph, and proof of income when applying for the co-branded credit card.
Unlocking the Potential of Co-Branded Credit Cards.
Co-branded credit cards, such as those offered by Axis Bank, offer an array of cashback options and reward points, tailored to accommodate diverse lifestyles and spending preferences. These cards can be utilized at a wide range of outlets, enhancing convenience and offering financial advantages to discerning customers.