Axis Financial institution launched its Cashback Credit score Card final 12 months 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 supplied solely to present Citi Cashback Cardholders as a migration choice.
Nevertheless, Axis has now made the cardboard accessible 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
| Sort | Premium Cashback Credit score Card |
| Reward Charge | 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 robotically credited to the cardboard account with out the necessity for guide redemption.
Whereas cashback playing cards are usually positioned within the entry-level section, this one stands aside.
Whereas it presents 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 Price | 1,000 INR+GST |
| Welcome Profit | 5,000 Edge Rewards |
| Renewal / Annual Price | 1,000 INR+GST |
| Renewal Profit | – |
| Renewal Price 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 slightly than direct cashback.
Nevertheless, because the reward factors match the worth of the becoming a member of charge, it’s completely effective.
*** Greatest Premium Cashback Credit score Card ***
Rewards
| SPEND TYPE | REWARD RATE | Max Cashback | Cumulative Reward Charge |
|---|---|---|---|
| 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 best way the system is designed, as you’ll be able to see above.
This makes the 7% declare extra of a advertising and marketing gimmick than a real-world profit.
On prime of that, the cashback price on utility spends is extraordinarily low, particularly contemplating it is a card with an annual charge of Rs.1,000.
Lounge Entry
The Axis Cashback Credit score Card doesn’t provide airport lounge entry in the mean time.
Nevertheless, because the Axis Cashback Credit score Card is issued on the Visa Signature platform, there’s a risk that Axis could introduce complimentary lounge entry advantages sooner or later, maybe linked to the next spend milestone.
When you’re on the lookout for lifetime free bank card with lounge entry, Scapia Credit score Card would do the needful and may function a fantastic combo alongside Axis Cashback Card for newbies.
Axis Vs SBI Cashback Playing cards
Among the many two, SBI Cashback Credit score Card is certainly the superior one over Axis Cashback Credit score Card for varied causes.
It presents 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.
Devaluation meter
Axis Financial institution is thought for devaluing its bank card advantages very often, so it’s all the time good to needless to say what appears to be like enticing at the moment may get a haircut tomorrow.
However provided that the advantages are decently contained and that it’s a Citi Card substitute, I might not count on 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 is usually a strong selection, 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.
General, it’s a fantastic card to stack alongside the SBI Cashback Credit score Card, and likewise works as a strong different for these looking for a cashback choice throughout the Axis ecosystem.
Primarily, 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 probably the greatest cashback bank cards within the nation, particularly in case your on-line spends are consistent with the spends required to realize 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 strong combo for these trying to stay 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 beneath.
