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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

FeatureExisting BenefitNew Benefit (From 20-06-2025)
Myntra Cashback1%7.5% (₹4,000/quarter cap)
Flipkart Cashback5% (Monthly cap)5% (₹4,000/quarter cap)
Cleartrip Cashback5% (Monthly cap)5% (₹4,000/quarter cap)
Lounge Access4 Complimentary Domestic/YearDiscontinued
Reward Exclusion CriteriaBased on MCCBased 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
 
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.

This card is still good for day to day Flipkart spends. Only bookers and bulk buyers are are at loss with this change.
Perhaps you have a different parameter for what is "good day to day" Flipkart spends. Like I said, what you can expect is upto you based on your spend patterns. But it is completely ridiculous to say that "most probably there will be other bank offers so yeah, this limit is good". What matters for a customer holding this card is what benefit he/she is getting on this card. Other offers don't matter if he/she cannot avail that.

4K "quarterly capping" just like any other card? Even SBI CB offers 5K back every monthly cycle. And though double the fee, it works on multiple online platforms and has a 2L reversal criteria unlike 3.5L (i.e 75% higher) for Flipkart Axis.

Well, I personally don't even use any card directly on Flipkart nowadays. Unless, there is some additional discount offer on using some specific card. I mostly buy using Flipkart GCs, got via SmartBuy & iShop. But there are many people who rely on this card to buy high value items during the sale season.
 
Perhaps you have a different parameter for what is "good day to day" Flipkart spends. Like I said, what you can expect is upto you based on your spend patterns. But it is completely ridiculous to say that "most probably there will be other bank offers so yeah, this limit is good". What matters for a customer holding this card is what benefit he/she is getting on this card. Other offers don't matter if he/she cannot avail that.

4K "quarterly capping" just like any other card? Even SBI CB offers 5K back every monthly cycle. And though double the fee, it works on multiple online platforms and has a 2L reversal criteria unlike 3.5L (i.e 75% higher) for Flipkart Axis.

Well, I personally don't even use any card directly on Flipkart nowadays. Unless, there is some additional discount offer on using some specific card. I mostly buy using Flipkart GCs, got via SmartBuy & iShop. But there are many people who rely on this card to buy high value items during the sale season.
If people are capable of purchasing so much, then they're capable of getting another FK card as well. No harm in that.

16k cashback for ₹590 worth of card is decent return. If you need more, you can get another card.

Bookers were looting this card like crazy coz of unlimited cashback. Hence the capping.
 
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.
already devalued, today i cannot use AXISNEO code on zomato
 
If people are capable of purchasing so much, then they're capable of getting another FK card as well. No harm in that.

16k cashback for ₹590 worth of card is decent return. If you need more, you can get another card.

Bookers were looting this card like crazy coz of unlimited cashback. Hence the capping.
"bookers and bulk buyers were looting this card for unlimited cashback" - Is this statement derived from any statistic?

Well, even if I assume that a lot of people are indeed doing this to buy & re-sell, I am sure Flipkart and Axis both have enough customer data to figure them out. It is not that difficult. And though I don't agree on capping, if there should be one I'm sure both have enough data to figure out something that's a win-win for both the bank and the "genuine" customer. 4K per quarter limit is nothing during sale season, where people mostly buy high value electronics and home applicances. For example, just check the number of iPhones or TVs sold in a single day during one sale season on Flipkart.

You know, I didn't really want to say this but your constant rant about other people using this card for a lot of cashback at just a fee of 500 appears to be highly misdirected. It almost sounds as if you're more concerned about others spending a lot on this card & earn cashback than you yourself not being "capable" of spending that much.
 
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16k per year on Flipkart is a decent cashback but they shouldn't have put quarterly capping of 4k... Also with these restrictions the annual fee waver criteria of 3.5L is too high...
Myntra 7.5% is good move
 
"bookers and bulk buyers were looting this card for unlimited cashback" - Is this statement derived from any statistic?

Well, even if I assume that a lot of people are indeed doing this to buy & re-sell, I am sure Flipkart and Axis both have enough customer data to figure them out. It is not that difficult. And though I don't agree on capping, if there should be one I'm sure both have enough data to figure out something that's a win-win for both the bank and the "genuine" customer. 4K per quarter limit is nothing during sale season, where people mostly buy high value electronics and home applicances. For example, just check the number of iPhones or TVs sold in a single day during one sale season on Flipkart.

You know, I didn't really want to say this but your constant rant about other people using this card for a lot of cashback at just a fee of 500 appears to be highly misdirected. It almost sounds as if you're more concerned about others spending a lot on this card & earn cashback than you yourself not being "capable" of spending that much.
I'm saying again n again why don't you take another FK card. If you have that much spends take another one. What's there to cry?!
 
I'm saying again n again why don't you take another FK card. If you have that much spends take another one. What's there to cry?!
It appears you haven't spent a single moment reading the MITC of the bank for whom you're trying so hard to make a joke out of yourself.

1. There is a set limit on the number of CCs you can have of a bank, each has its own policy.
2. It is against the MITC to lend your personal card to your relatives or friends. Each card is tied to your own own record, so technically everytime you're using a card that belongs to your family member - you're in breach of the MITC and bank has all right to cancel your card.

Good luck!
 
It appears you haven't spent a single moment reading the MITC of the bank for whom you're trying so hard to make a joke out of yourself.

1. There is a set limit on the number of CCs you can have of a bank, each has its own policy.
2. It is against the MITC to lend your personal card to your relatives or friends. Each card is tied to your own own record, so technically everytime you're using a card that belongs to your family member - you're in breach of the MITC and bank has all right to cancel your card.

Good luck!
IMG_5024.webp
 
Well, haha. Sure, you did.

From talking about "people were unfairly using this card, this was so necessary!!!!" to yourself suggesting an "unfair usage of the card". Wow.

That's enough learning for the day for you, I guess. Peace!
Looks like you yourself were doing bookings that's why so much of cry. I would stick to my point about fair usage policy and 16k is still decent cashback for the given fees. Looks like you aren't able to get another card for your "high" spends, that's why crying here again n again lol.
 
@HumorSimpson where's ur famous sticker!!
Simpsons Apocalypse GIF
 
Looks like you yourself were doing bookings that's why so much of cry. I would stick to my point about fair usage policy and 16k is still decent cashback for the given fees. Looks like you aren't able to get another card for your "high" spends, that's why crying here again n again lol.
Sure, I was. You know, it was a lot of fun making some losers jealous. Why not spend a lot when you "can" spend a lot without even making a hole in your pocket. Making such losers whine in jealosy is like a cherry on the cake 🙂

Jokes apart, this forum is to discuss issues like these devaluations. Perhaps you don't know or have a different idea of consumer rights. If you're so happy, well good for you. Don't pass sweeping statements like "a lot of people were misusing this card for bulk purchases" without any statistics or data.

Oh, you'd stick to your point on fair usage policy? Buddy, you don't even know what's fair usage policy.
According to you,
- Taking benefit of unlimited CB for personal high value orders is NOT fair usage policy (which is fair usage as per MITC, before the new MITC takes effect)
- Using relatives or friends CCs is fair usage policy (which is NOT fair usage as per MITC)

Maybe you can spend sometime reading the card membership terms the next time you apply for a new card.

And don't worry about me. If I'd have been in your place, my first concern would be "why am I not capable of spending as high as other users to find 4K limit per quarter an issue". Like I said, major "big" spends that earn cashback on this card would be electronics and home applicances. That's where you're at risk of breaching a limit. 4K limit per quarter is just not enough for that. Now, if you don't have any spend like that perhaps your opinion is not substantial in this discussion itself.
 
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