Axis Bank has lowered some cashback and incentive points on the Flipkart Axis Bank credit cards, which will be effective from August 12, 2023. According to the bank, spending on flight and hotel payments on Flipkart, as well as spending on Myntra, will now be eligible for 1.5 percent unlimited cashback.

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Cashback will not be available for fuel spends, purchasing gift cards on Flipkart and Myntra, EMI transactions, or converting purchases to EMI, among others.

Here's an FAQ explaining key changes in Flipkart Axis Bank credit cards:

Currently, I receive cashback on payments made towards government services and fuel spends from Flipkart Axis Bank credit card. Will I continue getting that?No. You will not receive any cashback for making payments towards government services with Merchant Category Code (MCC) 9399. Further, you will not be eligible for cashback on fuel spends.

First Published:Aug 11, 2023 1:01 PM IST

Flipkart Axis Bank credit card new rules FAQ: Higher fee waiver limit, cashback changes, more

I used to get 5 percent cashback on spending towards flight and hotel payments on Flipkart and purchases on Myntra. How will it change for me?

From August 12, spending towards flight and hotel payments on Flipkart and spends on Myntra shall be eligible for 1.5 percent unlimited cashback from 5 percent cashback.

This means now your cashback will come down to 1.5 percent.

Currently, I receive cashback on payments made towards government services and fuel spends from Flipkart Axis Bank credit card. Will I continue getting that?

No.

You will not receive any cashback for making payments towards government services with Merchant Category Code (MCC) 9399.

Further, you will not be eligible for cashback on fuel spends.

As of now, I was required to spend Rs 2 lakh a year to earn an annual fee waiver on Flipkart Axis Bank credit card. Will it continue to be the same?

No.

You will now have to spend more than Rs 3.5 lakh in a year to get an annual fee waiver for that year.

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Is Flipkart Axis Bank credit card removing any more cashback facility?

Yes.

Axis Bank has announced that cashback will not be available on the purchase of gift cards on Flipkart, Myntra, EMI transactions, wallet loading transactions, cash advances, rent payments, jewellery purchases, insurance services, utilities, educational services, card fee payments etc.

Is Axis Bank making changes to any more of its credit cards?

Axis Bank is reportedly also revising the terms and conditions for its popular Magnus credit cards.

The lender has reduced the rewards on the card, discontinued the Tata CLiQ voucher for the newly onboarded members, and excluded certain payments from earning points, among other changes.

The same will be effective from September 1, 2023.