A few years back, Flipkart, one of India’s leading marketplaces, and Axis Bank, one of India’s leading private sector banks, came together to launch the Flipkart Axis Bank Credit Card. Today, it is one of the most popular co-branded credit cards.
Similarly, during these last few years, a number of co-branded credit cards have been launched and have become quite popular. These include the Amazon Pay ICICI Credit Card, Swiggy HDFC Bank Credit Card, Tata Neu HDFC Bank Credit Cards (Plus and Infinity variants), etc.
In August, Flipkart came out with one more co-branded credit card, this time in partnership with SBI Card. The two companies have come together to launch the Flipkart SBI Card that offers up to 7.5% cashback. In this article, we will understand the features and benefits of this card, the cashback rate, the quarterly cashback limits, and whether you should take this card.
Welcome benefit
The Flipkart SBI Card offers a welcome benefit of a Rs. 250 Flipkart Gift Card on joining fee realisation. SBI Card will share the gift card details on your registered email ID and mobile number within 60 days of the joining fee realisation.
Cashback benefit
The Flipkart SBI Card provides the following cashback benefits:
- 5% cashback on Flipkart, with a quarterly cashback limit of Rs. 4,000
- 5% cashback on Cleartrip, with a quarterly cashback limit of Rs. 4,000
- 7.5% cashback on Myntra, with a quarterly cashback limit of Rs. 4,000
- 4% cashback on preferred/select merchants, with a quarterly cashback limit of Rs. 4,000
- 1% cashback on all other eligible spends
The list of preferred/select merchants include Netmeds, PVR, Uber, and Zomato. The preferred partners are subject to change from time to time.
The cashback limits are based on the calendar quarter. The calendar quarters include 1st January to 31st March, 1st April to 30th June, 1st July to 30th September, and 1st October to 31st December. On reaching the cashback limit in any of the above categories, the cardholder will not earn any cashback on that category in the remaining quarter. The cashback is not applicable on spends of less than Rs. 100.
The cashback earned in a monthly billing cycle is credited to the SBI Card account within two working days of the statement generation.
Exclusions
The following categories/transactions are excluded and will not earn any cashback.
- Fuel spends
- Wallet loading
- Gift or prepaid card loading
- Voucher purchase
- Rental transactions
- Government-related transactions
- Utility transactions
- Education payments
- Jewellery
- Insurance premiums
- Railway transactions
- Gaming
- EMI spends
1% fuel surcharge waiver: The Flipkart SBI Card provides a 1% fuel surcharge waiver on transactions of up to Rs. 4,000. The maximum waiver that can be earned in a statement cycle is Rs. 400.
Fees: The joining fee for the card is Rs. 500 + Taxes. The cardholder gets a welcome benefit of Rs. 250 Flipkart Gift Card on the fee payment. The annual renewal fee for the card is Rs. 500 + Taxes. The annual fee is reversed on annual spends of Rs. 3.5 lakhs or more in the preceding year.
Limited time offer
A customer can get an additional welcome benefit of Rs. 1,000 gift vouchers when they apply for the card through the Flipkart App. The application must be made between 26th August and 31st December 2025. The cardholder must make the first transaction on Flipkart within 30 days of card approval.
On fulfilling the above criteria, the cardholder will get Rs. 1,000 gift vouchers as follows:
- Rs. 500 Flipkart Gift Card, and
- Rs. 500 Cleartrip Gift Card (to be used for booking flight tickets)
How to make the best use of the card
The Flipkart SBI Card provides a decent total calendar quarter cashback limit of Rs. 16,000 across Flipkart, its group companies, and preferred/select merchants. An individual can maximise the card benefit as follows.
|
Merchant |
Cashback rate |
Calendar quarter cashback capping |
Calendar quarter spends to earn maximum cashback |
|---|---|---|---|
|
Flipkart |
5% |
Rs. 4,000 |
Rs. 80,000 |
|
Cleartrip |
5% |
Rs. 4,000 |
Rs. 80,000 |
|
Myntra |
7.5% |
Rs. 4,000 |
Rs. 53,333.33 |
|
Preferred/select merchants |
4% |
Rs. 4,000 |
Rs. 1,00,000 |
If an individual has higher spends on Flipkart or its group companies, the above table shows how they can plan their card usage to maximise the cashback benefits.
Should you take this card?
The Flipkart SBI Card is ideal for people who make considerable spends on Flipkart and/or its group companies (Myntra and Cleartrip). So, if your spends on these companies are high, you may consider the card. Do you already have the Flipkart Axis Bank Credit Card and are exhausting the quarterly limits? If yes, then for additional quarterly cashback limits, you may consider the Flipkart SBI Card.
Some banks may put an internal capping on the number of credit cards that an individual may keep. Some people may not get the Flipkart Axis Bank Credit Card as they may be already having multiple Axis Bank credit cards. In such a scenario, if you are looking for a credit card that can give you cashback on Flipkart and its group companies, you may consider the Flipkart SBI Card.
Most credit cards give either reward points or cashback. A cardholder can redeem reward points for various purposes like paying for online transactions, gift card purchases, merchandise, statement credit, conversion to airmiles and/or hotel loyalty points, etc. The per-point redemption value for each of these may be different, involve a redemption fee, and be time-consuming.
Thus, the reward points system involving earning and redeeming them can be complicated for some people. Individuals who prefer simplicity and a straightforward cashback over reward points may consider the Flipkart SBI Card. The Flipkart SBI Card is a good card with a decent 5% cashback rate with a decent calendar quarter limit.
Gopal Gidwani is a freelance personal finance content writer with 15+ years of experience. He can be reached on LinkedIn.
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