Axis Financial institution launched its Cashback Credit score Card final yr as a direct substitute for the Citi Cashback Credit score Card after Citi’s exit from the Indian bank card market. Initially, the Axis Cashback Card was provided solely to present Citi Cashback Cardholders as a migration choice.
Nevertheless, Axis has now made the cardboard obtainable for everybody, permitting everybody to use for the cardboard. Right here’s every part you could know concerning the Axis Financial institution’s Cashback Credit score Card:
Overview
| Kind | Premium Cashback Credit score Card |
| Reward Price | Upto 7% Cashback |
| Eligibility | 750+ CIBIL Rating helps |
| Greatest for | On-line Spends >50K INR |
It’s a pure cashback bank card, fairly much like the SBI Cashback Credit score Card, the place the eligible cashback is routinely credited to the cardboard account with out the necessity for handbook redemption.
Whereas cashback playing cards are sometimes positioned within the entry-level phase, this one stands aside.
Whereas it affords first rate reward price on smaller spends, it requires increased spends to unlock actual worth, making it extra apt to name it a Premium Cashback Credit score Card.
Charges
| Becoming a member of Charge | 1,000 INR+GST |
| Welcome Profit | 5,000 Edge Rewards |
| Renewal / Annual Charge | 1,000 INR+GST |
| Renewal Profit | – |
| Renewal Charge waiver | Spend 4 Lakhs (excludes: lease & pockets spends) |
On condition that the Axis Cashback Credit score Card is positioned as a cashback product, it feels odd that the welcome profit comes as reward factors relatively than direct cashback.
Nevertheless, for the reason that reward factors match the worth of the becoming a member of payment, it’s completely positive.
*** Greatest Premium Cashback Credit score Card ***
Rewards
| SPEND TYPE | REWARD RATE | Max Cashback | Cumulative Reward Price |
|---|---|---|---|
| On-line (upto 5,000 INR) |
2% | 100 INR | 2% |
| On-line (5,000 INR – 40,000 INR) |
5% | 1,750 INR | 4.6% (on 40K Spend) |
| On-line (> 40,000 INR) |
7% | 2,150 INR | 5.6% (on 70K Spend) |
| Offline & Journey | 0.75% | Limitless | – |
| Utility | 0.5% | 100 INR | – |
The cashback construction on this card feels unnecessarily sophisticated for an entry-level product.
Axis Financial institution markets it with the spotlight of ‘7% cashback’, however in apply, the efficient price by no means actually crosses 5.6% due to the way in which the system is designed, as you possibly can see above.
This makes the 7% declare extra of a advertising gimmick than a real-world profit.
On prime of that, the cashback price on utility spends is extraordinarily low, particularly contemplating this can be a card with an annual payment of Rs.1,000.
Lounge Entry
The Axis Cashback Credit score Card doesn’t supply airport lounge entry in the meanwhile.
Nevertheless, for the reason that Axis Cashback Credit score Card is issued on the Visa Signature platform, there’s a risk that Axis might introduce complimentary lounge entry advantages sooner or later, maybe linked to the next spend milestone.
Should you’re in search of lifetime free bank card with lounge entry, Scapia Credit score Card would do the needful and would possibly function an amazing combo alongside Axis Cashback Card for newcomers.
Axis Vs SBI Cashback Playing cards
Among the many two, SBI Cashback Credit score Card is unquestionably the superior one over Axis Cashback Credit score Card for varied causes.
It affords the next month-to-month cashback cap, a easy tier-free reward construction, and has remained comparatively steady with minimal devaluations over the previous two years.
Nevertheless, Axis Cashback Credit score Card continues to be higher than most different cashback playing cards inside Axis ecosystem like Axis Flipkart or Axis Ace bank cards.
Devaluation meter
Axis Financial institution is thought for devaluing its bank card advantages very often, so it’s all the time good to take into account that what seems to be engaging right now would possibly get a haircut tomorrow.
However provided that the advantages are decently contained and that it’s a Citi Card substitute, I’d not anticipate Axis Financial institution to go on a devaluation spree with this card, at-least not in 2025.
Do you have to get it?
If most of your spends are on on-line retailers (excluding journey), the Axis Financial institution Cashback Credit score Card could be a stable alternative, notably within the following situations:
- In case your on-line spends are round 50K INR a month
- In case your on-line spends are greater than 1L INR a month on SBI Cashback Card.
Total, it’s an amazing card to stack alongside the SBI Cashback Credit score Card, and likewise works as a stable different for these searching for a cashback choice throughout the Axis ecosystem.
Basically, one can save 48,000 INR on 8.4 Lakh annual spend, which is sort of spectacular. The Axis Cashback Card is now open to be utilized on-line.
*** Greatest Cashback Card for Excessive Spends ***
Backside line
The Axis Financial institution Cashback Credit score Card is certainly among the best cashback bank cards within the nation, particularly in case your on-line spends are in step with the spends required to attain increased reward price.
Axis Financial institution Cashback Credit score Card mixed with Axis Atlas and Axis Magnus Burgundy / Axis Olympus (not open but) is a robust combo for these trying to dwell a life on Credit score Card Rewards.
Do you’ve the Axis Financial institution’s Cashback Credit score Card? Be at liberty to share your ideas within the feedback under.
