Devaluation Flipkart Axis Bank Credit Card Major Devaluation - Effective June 20, 2025

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Axis Bank has announced a set of changes to the Flipkart Axis Bank Credit Card, set to take effect from June 20, 2025. These updates include both enhancements and benefit reductions that will impact how cardholders earn and redeem cashback.

What’s New: Enhancement on Myntra Cashback​

In a welcome move, Axis Bank has increased the cashback rate for Myntra purchases. Previously offering just 1%, cardholders will now enjoy a 7.5% cashback rate on eligible transactions made on Myntra.

• Maximum cashback: ₹4,000 per statement quarter

This increase significantly enhances the value proposition for fashion enthusiasts and frequent shoppers on Myntra.

​

What’s Changing: Devaluation of Key Benefits​

While the Myntra upgrade is a positive development, Axis Bank has also introduced some notable devaluations:

1. Quarterly Cashback Limits on Flipkart & Cleartrip​

• Cardholders will continue to earn 5% cashback on Flipkart and Cleartrip purchases.
• However, cashback will now be capped at ₹4,000 per statement quarter for each merchant, a shift from the earlier monthly cap.

This change may limit the value for high spenders who previously benefited from higher monthly rewards.

2. Discontinuation of Complimentary Lounge Access​

• The card’s 4 complimentary domestic airport lounge accesses per year will be discontinued from June 20, 2025.

For many frequent travelers, this will significantly reduce the utility of the card.

3. Simplified Reward Exclusion Criteria​

• There is no change to the categories excluded from earning cashback or being considered for spend-based fee waivers.
• However, instead of relying on 4-digit Merchant Category Codes (MCCs), exclusions will now be identified by broader spend categories (e.g., Utilities, Telecom, Wallet Loads, Rent).

This aims to simplify the process, though it may introduce ambiguity for some users.

Summary of Changes​

Feature	Existing Benefit	New Benefit (From 20-06-2025)
Myntra Cashback	1%	7.5% (₹4,000/quarter cap)
Flipkart Cashback	5% (Monthly cap)	5% (₹4,000/quarter cap)
Cleartrip Cashback	5% (Monthly cap)	5% (₹4,000/quarter cap)
Lounge Access	4 Complimentary Domestic/Year	Discontinued
Reward Exclusion Criteria	Based on MCC	Based on Spend Category

Conclusion​

While the improved cashback on Myntra is a step in the right direction, the introduction of quarterly caps on Flipkart and Cleartrip, combined with the removal of lounge access, marks a significant devaluation of the Flipkart Axis Bank Credit Card.
The primary appeal of this card was the unlimited 5% cashback on Flipkart, which now appears to be fading. Moreover, Axis Bank has a history of suspending cards under the pretext of "business transactions" if you use your card extensively on Flipkart.

Simple suggestion: Consider applying for the SBI Cashback Credit Card, which offers 5% cashback on all online shopping and other eligible spends - with fewer restrictions.

👉 Apply for the SBI Cashback Card here: https://www.technofino.in/takeme/sbi-cb-tfc

 

[kgaurav00]

Can we buy myntra gift card on Myntra for 7.5% cashback?

You card not eligible for cashback

 

[StarLord⚡]

This card will offer 4000 cashback per quarter.But which month will the first quarter start? I called customer care with this question.They said my card was issued on 07/07/2025 so the first quarter will be from July to September. Another customer care person said that April to May will be considered as the first quarter. I'm a little conflicted about this.If you have any accurate information on this matter, please let me know.

 

[kgaurav00]

This card will offer 4000 cashback per quarter.But which month will the first quarter start? I called customer care with this question.They said my card was issued on 07/07/2025 so the first quarter will be from July to September. Another customer care person said that April to May will be considered as the first quarter. I'm a little conflicted about this.If you have any accurate information on this matter, please let me know.

Not confused its right technically, 4000 capping applicable after 15/20th June(Not remember actual date), so technically July-September first quarter..

 

[mailmenow]

Anyone please confirm how the statement quater calculated for Flipkart axis cashback. Jan+feb+March - one quarter, april+may+june- second quarter??
I made a transaction of 44000 and it get reflected in July 14th. My bill generation date is 15th of every month. So when will be the fresh quarter starts ?

 

[hellowo₹ld]

Anyone please confirm how the statement quater calculated for Flipkart axis cashback. Jan+feb+March - one quarter, april+may+june- second quarter??
I made a transaction of 44000 and it get reflected in July 14th. My bill generation date is 15th of every month. So when will be the fresh quarter starts ?

Statement quarter is defined basis your statement date. For e.g. if your statement date is 15th of
every month, then:
o 1 st Quarter:16th March-15th June
o 2 nd Quarter: 16th June-15th September
o 3 rd Quarter:16th September-15th December
o 4 th Quarter:16th December-15th March

Below is an illustration of the cashback that can be earned in the calendar quarter Mar-June:

....

Refer tncs available in card page in axs website.

 

[mailmenow]

Ok

Statement quarter is defined basis your statement date. For e.g. if your statement date is 15th of
every month, then:
o 1 st Quarter:16th March-15th June
o 2 nd Quarter: 16th June-15th September
o 3 rd Quarter:16th September-15th December
o 4 th Quarter:16th December-15th March

Below is an illustration of the cashback that can be earned in the calendar quarter Mar-June:

....

Refer tncs available in card page in axs website.

. Why it's taken as March to June as 1st quarter

 

[hellowo₹ld]

Ok

. Why it's taken as March to June as 1st quarter

Jan- Mar 1st quarter (as per calendar),
Apr-Jun 2nd,
Jul-Sep 3rd,
Oct-Dec 4th

....

ur statement 24th of every month (and lets say it started Sep)

till Sep - 3rd quarter for you (example available in that tncs for product page)..

Oct - Dec (3 statements mails .. 4th quarter for you).

....

Consider calendar quarters for reference of months and ur statement date as how many statement u need to refer to check whether 4k cashback already received or not in those calendar quarters.

 

[Old_Schedule_1994]

Jan- Mar 1st quarter (as per calendar),
Apr-Jun 2nd,
Jul-Sep 3rd,
Oct-Dec 4th

....

ur statement 24th of every month (and lets say it started Sep)

till Sep - 3rd quarter for you (example available in that tncs for product page)..

Oct - Dec (3 statements mails .. 4th quarter for you).

....

Consider calendar quarters for reference of months and ur statement date as how many statement u need to refer to check whether 4k cashback already received or not in those calendar quarters.

My 1st statement generation is on 13th of Sep 25 and last day of bill payment will be 2 Oct 25 so in which quarter my cashback will be consider? I have newly got this Card in this month only having confused about quarter limit.

 

[hellowo₹ld]

My 1st statement generation is on 13th of Sep 25 and last day of bill payment will be 2 Oct 25 so in which quarter my cashback will be consider? I have newly got this Card in this month only having confused about quarter limit.

bill date never included for anywhere. its always statement month.