Axis Bank Reduces Cashback, Benefits On Flipkart Axis Bank Credit Card

Axis Bank has revised the features and benefits of the well-known Flipkart Axis Bank Credit Card, a co-branded credit card. The updated features of the Flipkart Axis Bank Credit Card will now encourage increased spending in order to qualify for the annual fee waive off. Axis Bank also revised a lot of other transaction cashback along with the annual fee waive off limit.

According to Axis Bank's official website, With effect from August 12, 2023, the changes will be applicable on your Axis Bank Flipkart Credit Card.

Change in cashback earned on Myntra and Flipkart on flight and hotel payments

Starting from August 12, purchases made on Flipkart for flights and hotels as well as those made on Myntra will be eligible for 1.5% unlimited cashback. Earlier, this cashback was 5% of your spending, which is now will be reduced to 1.5%.

Exclusion of payments made towards Government services from Cashback eligibility

Payments made towards government services (MCCs - 9399) will not be eligible for cashback.

Cashback shall not be eligible on fuel spends, purchase of gift cards on Flipkart and Myntra, EMI transactions, purchases converted to EMI post-facto, wallet loading transactions, cash advances, rental payments, purchase of jewelry, insurance services, utilities, educational services, payment of outstanding balances, payment of card fees and other card charges

The following MCCs have been excluded from cashback eligibility: 4814, 4816, 4899, 4900, 5541, 5542, 5944, 5960, 5983, 6011, 6012, 6051, 6300, 6381, 6513, 6540, 8211, 8241, 8244, 8249, 8299 and 9399

Minimum spend for annual fee waiver increased

The terms for the annual fee waiver have also been revised by Axis Bank. Now, to waive off the annual fee of Rs 500, you will need to spend more. Earlier, to waive off the annual fee, you had to spend at minimum Rs 2 lakh per year to qualify, now this threshold has been revised to Rs 3.5 lakh by the bank.
Rent transactions (MCC 6513) and wallet loads (MCC 6540) will not be eligible for expenditures that count towards receiving an annual fee waiver.

Other than this, there are reports that Axis Bank has alsp rolled out several changes to its other credit card offerings such as Axis Bank Reserve, Axis Bank SELECT, Axis Bank Privilege, and Axis Bank My Zone card.