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

[TechnoFinoTechnoFino is verified member.]

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

 

[Strange]

 

[Buttman]

Dhamki dekar LTF karwane ka achcha mauka hai. 😂

Nai dete
Close kar denge :”)

 

[Buttman]

Amazon Pay ICICI card laughing in the corner.

Hope they don’t follow suit!

 

[iamdhamo]

I was looking to apply for Flipkart axis and now I wil not apply

 

[iamdhamo]

Hope they don’t follow suit!

Time will tell.

 

[Farhad sekh]

I think, FK axis card axis Bank ko bohot mehenga padha, that's why they shrinking it too much frequently 😭

 

[Chitra007]

People are really earning huge amount of cashbacks using this credit card. I saw one of my friend has earned more than 2500 cashback in a single month using this credit card on FK grocery and electronics purchases.

 

[Chaitanya-a]

The 4k capping per quarter is bad. This effectively kills the card

Its still good for normal user. We don't do heavy transactions every day. Only bad for bookers.

 

[ash_m]

People are really earning huge amount of cashbacks using this credit card. I saw one of my friend has earned more than 2500 cashback in a single month using this credit card on FK grocery and electronics purchases.

Nothing wrong if someone was using the card extensively for their personal usage, until it doesn't break the terms and conditions.

Afterall, it comes with an annual fee (was being offered LTF initially for limited period of time). Axis is a big sucker when it comes to CCs, they're soon on path to be completely out of CC business if they keep doing this.

 

[ash_m]

Its still good for normal user. We don't do heavy transactions every day. Only bad for bookers.

It is good if you have minimal spends. But if you have minimal spends, I wonder why you even hold this card at a fee of 500+GST.

4000 limit per quarter implies you will meet this threshold just after spending 80K. That's not much, if you're planning to buy some electronics or home applicances in a single sale.

 

[Chaitanya-a]

It is good if you have minimal spends. But if you have minimal spends, I wonder why you even hold this card at a fee of 500+GST.

4000 limit per quarter implies you will meet this threshold just after spending 80K. That's not much, if you're planning to buy some electronics or home applicances in a single sale.

Are you kidding me? 590/annum cards aren't meant for unlimited cashback. There is fair usage policy. 26k/month is decent spend capping for a person. If you require for more spends then you can get another card on your family member's name.

4000/quarter means you can get 16k worth of cashback just on Flipkart by simply paying ₹590.

Myntra and cleartrip is cherry on top.

 

[pinki]

Its still good for normal user. We don't do heavy transactions every day. Only bad for bookers.

Kisi din mac / ultra khridne ka man ho hi gya
tb kya hoga 😂🤣 normal users can also purchase items above 80k in a month .

 

[desiviru]

Revision of NEO Credit Card Terms and Conditions

While you continue to enjoy the benefits on your NEO Credit Card, the following revisions will be
applicable on your credit card:

1. Changes to the spend exclusion approach for reward earns and spend based fee waiver calculation Effective 20th June 2025:

• There is no change to the spend categories excluded from earning rewards and spend
based fee waiver calculation. However, to simplify, such transactions will be identified
based on the spend category (Utility & Telecom, Rent, Wallet, etc.) rather than the
assigned 4-digit Merchant Category Code (MCC).
• Excluded spend categories for reward earn / spend based fee waiver: Transactions made
on Utility & Telecom, Education Services, Rent, Wallet, Government spends, Insurance,
Fuel, Cash advances and Repayments.

2. Changes in features and benefits Effective 1st July 2025:

• The minimum order value for Zomato offer will change from INR 200 to INR 499. Hence,
the new offer will be Flat INR 120 off on Zomato, minimum order value of INR 499,
applicable twice in a month. Coupon code ‘AXISNEO’. Rest all terms and conditions related
to this offer will remain the same.
o The offer can be clubbed with Restaurant coupons.
o The offer is valid up to twice per card per month, regardless of whether the card is
used on a single Zomato account or multiple accounts.
o The minimum order value to avail the offer is INR 499 which excludes GST,
restaurant charges, and Delivery Fee.
o The offer is not eligible if the payment is made via UPI linked NEO RuPay Credit
Card.
o The offer is not applicable on GST, restaurant charges, and Delivery Fee.
o Customer needs to ensure that they pay using an active NEO Credit Card to avail
this benefit.
o In addition to the above, this offer is also subject to Zomato's general ‘Terms of
Use’. Kindly refer to Zomato's Terms & Conditions on their ‘app’

3. Revision to EDGE REWARD Points Terms & Conditions for closed and outstanding overdue cards Effective 1st October 2025:

• The Bank will reserve the right to forfeit unredeemed EDGE REWARD Points / EDGE Miles
post 30 days of your credit card closure or if the minimum amount due on your credit card
is outstanding for more than 90 days. In case of card closure, we would encourage you to
redeem your EDGE REWARD Points / EDGE Miles within 30 days of closure.
For more details, please visit axisbank.com/mitnc.

 

[Chaitanya-a]

Kisi din mac / ultra khridne ka man ho hi gya
tb kya hoga 😂🤣 normal users can also purchase items above 80k in a month .

Arey toh ₹4000 toh milega😂 Ya fir dusre bank offer rehte hi hai in sab pe

 

[desiviru]

As per PDF updated by AXIS now instead of 4 digit MCC they will verify using spend category rather for some transactions.

Ab MCC ke din lagney waley hai. Hail Orindummm fantastic videos and Buzz-ers here and there.

 

[Anindya98]

So kotak myntra won't be missed anymore. 80k per quarter statement cycle is not enough for personal usage on Flipkart
For me, the card has lost its charm and usefulness. I use the SBI Cashback card regularly until I hit the ₹65K monthly cap, and only switch to the Flipkart Axis card for orders above that value. In my opinion, they could have kept the cap at ₹1.2L per quarter instead. Also, the fee waiver criteria of ₹3.5L annually feels a bit too high.

 

[cleverpappu]

As per PDF updated by AXIS now instead of 4 digit MCC they will verify using spend category rather for some transactions.

Ab MCC ke din lagney waley hai. Hail Orindummm fantastic videos and Buzz-ers here and there.

That’s not good actually. MCC have atleast some clarity. But now spend category how they identify remains the main issue

 

[ash_m]

Are you kidding me? 590/annum cards aren't meant for unlimited cashback. There is fair usage policy. 26k/month is decent spend capping for a person. If you require for more spends then you can get another card on your family member's name.

4000/quarter means you can get 16k worth of cashback just on Flipkart by simply paying ₹590.

Myntra and cleartrip is cherry on top.

You're talking as if banks are doing some social service by giving me cashback or reward points. Banks are not giving 16K worth of cashback for "just" a fee of 500. They're giving that out of the MDR they're earning out of every txn I or you do.

Perhaps you don't have enough spends to breach the threshold. But please don't assume that other people also don't have it. Buy one home appliance like a 65'' TV in one sale and you've already breached your quarterly limit. Of course you don't buy it everyday, but the card already failed you when you most needed it.

 

[Chaitanya-a]

You're talking as if banks are doing some social service by giving me cashback or reward points. Banks are not giving 16K worth of cashback for "just" a fee of 500. They're giving that out of the MDR they're earning out of every txn I or you do.

Perhaps you don't have enough spends to breach the threshold. But please don't assume that other people also don't have it. Buy one home appliance like a 65'' TV in one sale and you've already breached your quarterly limit. Of course you don't buy it everyday, but the card already failed you when you most needed it.

There is capping and should be capping. If you're buying any high value item, most probably there will be other bank offers live as well. If not, you're getting with this card with a capping of ₹4000 just like any other card.

We don't buy high value goods everyday. Moreover, we can't expect banks to give unlimited cashback on fee of ₹590. You're talking as if bank owe you everything by just paying ₹590. If you need more cashback, you can take another FK card. ₹590 isn't a big deal for such "high" spenders.

This card is still good for day to day Flipkart spends. Only bookers and bulk buyers are at loss with this change.

 

[Sahil_07]

Revaluation in my book