Axis Bank and Shoppers Stop Announce Co-Branded Credit Card; What Are The Fees, Benefits & Rewards?

Axis Bank and Shoppers Stop have joined forces to introduce the Axis Bank Shoppers Stop Credit Card. Packed with an array of benefits and features, the collaboration aims to elevate customer satisfaction while tapping into the growing retail consumer segment.

Sanjeev Moghe, President & Head of Cards & Payments at Axis Bank, expressed enthusiasm about the partnership, stating, "This collaboration will allow Axis Bank to delve deeper into the expanding retail consumer market, offering unparalleled payment services and propositions."

Echoing this sentiment, Kavindra Mishra, Customer Care Associate, Executive Director, and CEO of Shoppers Stop, emphasized, "Through this strategic alliance, we seek to redefine the shopping journey by seamlessly integrating exclusive rewards, privileges, and banking services. We believe this partnership will enrich the shopping experience, making it more gratifying for our valued customers."

Exclusive Rewards and Privileges
One of the highlights of the Axis Bank Shoppers Stop Credit Card is the complimentary 'Shoppers Stop First Citizen Club Golden Glow' membership, providing users with exclusive benefits. Cardholders can earn and redeem points on every purchase at Shoppers Stop stores and online, with additional rewards for exclusive brands. Welcome benefits include complimentary Shoppers Stop vouchers worth Rs 2,250, enhancing the shopping spree from the outset.

Accelerated Benefits
Cardholders can enjoy accelerated rewards, earning up to 20 First Citizen points for every Rs 200 spent on private label brands at Shoppers Stop. Beauty product purchases and other brands also offer substantial rewards, making every transaction more rewarding.

Additional Privileges
Beyond shopping benefits, the card extends discounts on dining through partnerships with EazyDiner. Cardholders can avail of a 15% instant discount on EazyDiner transactions, along with a fuel surcharge waiver on fuel purchases within a specified range.

Cost and Fees
While the joining fee for the Axis Bank Shoppers Stop Credit Card stands at Rs 500 plus taxes, the renewal fee is also Rs 500, with waivers available for high spenders. Interest charges for carrying forward balances are at 3.6% per month, with late payment fees applicable based on outstanding amounts.

Comparison with Existing Offerings
Shoppers Stop currently collaborates with HDFC Bank for another co-branded credit card, the Shoppers Stop HDFC Bank Credit Card. While the HDFC card offers its own set of benefits, the Axis Bank partnership brings a fresh perspective to customer rewards and privileges.

With the launch of the Axis Bank Shoppers Stop Credit Card, consumers can expect an enhanced shopping experience coupled with exciting rewards and privileges. The partnership between Axis Bank and Shoppers Stop underscores a commitment to customer satisfaction and innovation in the retail banking space.