Flipkart Axis Bank Credit Card Review 2026: Myntra 7.5% Cashback, Quarterly Caps, No Lounge Access,

The Flipkart Axis Bank Credit Card is a multi-cobranding arrangement spanning Flipkart, Myntra and Cleartrip, aimed squarely at people who do most of their shopping inside the Flipkart group. It is an entry-level card with a ₹500 fee and cashback credited straight to the statement — no points, no portal, no redemption step. Two things have changed materially since 2025 and both matter: the accelerated cashback is now capped per merchant per statement quarter, and complimentary airport lounge access is gone.

Flipkart Axis Bank Credit Card Quick Overview

Eligibility Criteria

• Primary cardholder must be between 18 and 70 years of age
• The applicant should be a Resident of India
• Indicative income requirement of ₹15,000 per month for salaried applicants and ₹30,000 per month for self-employed applicants and professionals
• Documentation: PAN card copy or Form 60, latest payslip / Form 16 / IT return as income proof, and a residence proof such as a driving licence, electricity bill or landline bill

Axis Bank notes these criteria are indicative and it retains the final right to approve or decline any application.

Welcome Benefit

The bank markets ₹350 worth of activation benefits, made up of two separate offers:

Flipkart voucher worth ₹250 — credited on making the first transaction with the card within 30 days of issuance. This one carries an important restriction: only paid cards with a joining fee and annual fee qualify. If you were issued a First-Year-Free variant with no joining fee, you do not get this voucher.

50% off up to ₹100 on Swiggy — for customers who are new to the Swiggy app, on their first-ever transaction with the card, using the code AXISFKNEW at checkout. Minimum cart value is ₹129, the maximum discount is ₹100, the transaction must fall within 30 days of card issuance, and the offer cannot be clubbed with other Swiggy offers. Unlike the Flipkart voucher, this one is available on both paid and First-Year-Free cards.

Separately, Axis Bank has been running a limited-period Cleartrip voucher worth ₹1,500 on minimum spends of ₹30,000 within 30 days of card issuance. Because it is flagged as limited-period and carries a spend condition, treat it as a bonus rather than a guaranteed part of the welcome package — confirm it is live before you apply.

Cashback Structure: How You Earn

The earning table is straightforward; the caps are where the detail lives.

Flipkart's 5% applies on both the website and the mobile app, but excludes Flipkart Health. Preferred merchants are currently Swiggy, Uber, PVR and cult.fit, and that list can change at the bank's discretion without notice. On Swiggy, only Food Delivery transactions earn the accelerated 4% — Instamart, Genie and the other verticals drop to the 1% base rate.

Two mechanical rules apply across the board: no cashback on transactions below ₹100, and cashback is rounded down per transaction. A ₹1,180 spend earning 1% works out to ₹11.80, of which ₹11 is credited.

The caps are per merchant, per statement quarter

Each of Flipkart, Myntra and Cleartrip has its own separate ₹4,000 bucket — they do not pool, and one merchant's unused headroom cannot rescue another. A statement quarter is defined by your statement date, not the calendar. If your statement date is the 15th of each month, your quarters run 16 March–15 June, 16 June–15 September, 16 September–15 December and 16 December–15 March.

Worked example from the T&C — cashback in a single billing cycle

A customer spends ₹50,000 in a billing cycle: ₹10,000 on Flipkart, ₹5,000 at preferred merchants, and ₹35,000 on other spends, of which ₹10,000 was an EMI purchase. Since EMI transactions do not earn cashback, eligible spends come to ₹40,000.

Worked example from the T&C — hitting the quarterly cap

The critical detail sits in the last few rows. The June Flipkart spend of ₹30,000 would have earned ₹1,500 at 5%, but only ₹1,000 is paid because that exhausts the ₹4,000 quarterly ceiling. The June Cleartrip spend of ₹6,000 earns nothing at all. Once a merchant's quarterly cap is exhausted, further spending at that merchant earns zero — the 1% base rate does not take over. That is the single most expensive thing to misunderstand about this card.

Cashback above the cap is not simply discarded. It is held as a per-merchant surplus, used to absorb later refunds and EMI conversions on that merchant, and written off at the end of the following statement quarter if unused. You never receive it as cash.

Practical cap thresholds

When cashback is credited

Cashback earned in a billing cycle is credited in the following cycle, three days before the statement is generated. With a 15 February statement date, cashback earned in the 16 January–15 February cycle lands on 12 March. Returns and refunds within the same cycle reduce the credit; returns after statement generation are debited back on the date of reversal.

Other Benefits

Fuel surcharge waiver — 1% at all fuel stations across India, valid on transactions between ₹400 and ₹4,000, capped at ₹400 per statement cycle. GST charged on the surcharge is not refunded, and fuel spends earn no cashback at all.

Dining Delights — through Axis Bank's tie-up with EazyDiner, 15% off the restaurant bill at participating restaurants, on a minimum bill of ₹2,500, capped at ₹500 per month. Used every month this is worth roughly ₹6,000 a year, which is the figure the bank's own value chart assumes.

Wednesday Delight — instant savings of up to 15% on flights and hotels booked via MakeMyTrip, 10% off Swiggy orders, and 10% off up to ₹1,000 on Tira, every Wednesday.

EMI conversion — any transaction above ₹2,500 can be converted to EMI by contacting the bank, with specific EMI offers on Flipkart. Note the trade-off in the next section.

Add-on cards — free, with no joining or annual fee.

No lounge access — complimentary domestic airport lounge access was withdrawn with effect from 20 June 2025. Earlier reviews and third-party pages still describing four visits a year are out of date.

Category Restrictions: Where You Won't Earn Cashback

These MCC categories are excluded from cashback entirely:

• Utility services
• Telecom
• Fuel
• Clock, jewellery, watch and silverware stores
• Insurance services
• Financial institutions
• Rental payments
• Wallet load transactions
• Educational services
• Government services

These transaction types are also excluded:

• Purchase of gift cards on Flipkart and Myntra
• Purchase of gold in any form — bars, coins, jewellery, artefacts
• EMI transactions, and purchases converted to EMI after the fact
• Cash advances, payment of outstanding balances, and payment of card fees and charges

The EMI exclusion deserves emphasis. Once a transaction is converted to EMI, the cashback on it is reversed — and it stays reversed even if you later foreclose or cancel the EMI and pay the amount in full. If you cancel an EMI purchase at the merchant's end, you must also cancel the EMI with Axis Bank on 1800 103 5577 before the first instalment is debited, or you face an excess cashback reversal.

Several excluded categories are doubly unattractive because they also attract a transaction fee: 1% on rent, 1% on education payments via third-party apps, 1% on cumulative utility spends of ₹25,000 or more per cycle, 1% on wallet loads of ₹10,000 or more per cycle, 1% on fuel spends of ₹50,000 or more per cycle, and 1% on online skill-based gaming spends of ₹10,000 or more per cycle. Rent and wallet load spends also do not count towards the ₹3,50,000 annual fee waiver threshold.

Fees and Charges

Taxes apply on all of the above as per government norms.

Is the Flipkart Axis Bank Credit Card Worth It?

For someone whose online spending genuinely concentrates in the Flipkart group, the maths still works. Myntra at 7.5% is among the strongest single-merchant cashback rates available in India, and ₹53,333 of Myntra spending a quarter — around ₹18,000 a month — is a realistic ceiling for a fashion-heavy household. Add Flipkart at 5%, Cleartrip for travel, and uncapped 4% on Swiggy food delivery, Uber, PVR and cult.fit, and the ₹500 fee is recovered inside the first couple of months. Cashback landing directly on the statement rather than in a wallet or points balance is a real convenience advantage over most co-brands.

The case against is equally clear. The exclusion list is long and covers most of what people actually put on a credit card for volume — utilities, telecom, fuel, insurance, rent, education, government payments and wallet loads all earn nothing, and several now carry a 1% fee on top. The base rate of 1% is unremarkable, so everything outside the partner ecosystem is better served by another card. Lounge access is gone, which removes the last reason a traveller might have held this card as a secondary. And the ₹3,50,000 waiver threshold is demanding for a card whose eligible spending is deliberately narrow — you cannot pad it with rent or wallet loads.

Treat this as a specialist second card, kept in the wallet for Flipkart, Myntra, Cleartrip and the four preferred merchants, with a broader everyday card handling everything else. Used that way it is very good. Used as a primary card it is mediocre.

Frequently Asked Questions (FAQs)

What is the cashback rate on the Flipkart Axis Bank Credit Card? 7.5% on Myntra, 5% on Flipkart and Cleartrip, 4% on preferred merchants, and 1% on other eligible categories. The first three are capped at ₹4,000 cashback per merchant per statement quarter; the 4% and 1% rates are uncapped.

Which merchants count as preferred merchants? Currently Swiggy, Uber, PVR and cult.fit. Axis Bank can change this list at any time without notice, so check the bank's preferred partners page before relying on it.

What happens after I hit the ₹4,000 quarterly cap on Flipkart? You earn nothing further on Flipkart for the rest of that statement quarter. The 1% base rate does not apply after the accelerated cap is exhausted — the bank's own illustration confirms a post-cap spend earning zero cashback.

Is the cap on a calendar quarter or my statement cycle? Your statement cycle. If your statement date is the 15th, one quarter runs 16 March to 15 June. Plan large Flipkart or Myntra purchases around that boundary rather than around calendar quarters.

Does the Flipkart Axis Bank Credit Card still offer airport lounge access? No. Complimentary domestic lounge access was discontinued with effect from 20 June 2025.

Do Swiggy Instamart orders earn 4% cashback? No. Only Food Delivery transactions on the Swiggy app qualify for the accelerated 4%. Instamart, Genie and other Swiggy verticals earn the 1% base rate.

Are utility bill payments rewarded on this card? No. Utility services are an excluded MCC category, and cumulative utility spends of ₹25,000 or more in a statement cycle attract a 1% transaction fee.

How do I get the annual fee waived? Spend more than ₹3,50,000 in a card year. Rent transactions (MCC 6513) and wallet load transactions (MCC 6540) are excluded from this calculation.

Do I get the ₹250 Flipkart welcome voucher on a lifetime-free card? No. The ₹250 Flipkart voucher is only for paid cards carrying a joining and annual fee. First-Year-Free cards get only the Swiggy welcome offer of 50% off up to ₹100.

What happens to my cashback if I convert a purchase to EMI? It is reversed in the same billing cycle as the EMI conversion, and it does not come back even if you foreclose or cancel the EMI later. If you cancel an EMI purchase at the merchant, call 1800 103 5577 before the first instalment is debited to avoid an excess reversal.

When is cashback credited to my account? Three days before the next statement date. Cashback earned in the 16 January–15 February cycle is credited on 12 March if your statement date is the 15th.

Which network is the card issued on? New cards are issued on Visa. Mastercard variants issued before the RBI restriction on Mastercard onboarding remain valid with identical benefits.

Can I use this card for UPI payments? No. The card is a Visa (or legacy Mastercard) product, not RuPay, so it cannot be linked to a UPI handle.

Disclaimer: This review is based on Axis Bank's official Cashback Terms & Conditions for the Flipkart Axis Bank Credit Card, the preferred partner cashback T&C, the Swiggy welcome benefit T&C, the preferred merchants document, and the Flipkart Axis Bank Credit Card product page. Card network, minimum income eligibility, the lounge discontinuation date and Dining Delights terms were verified against public sources. Fees, cashback rates, preferred merchant lists and offers are subject to change at the bank's discretion — verify current terms on the Axis Bank website before applying. Last verified: 2 August 2026.