Axis Bank introduced its Cashback Credit Card last year as a direct replacement for the Citi Cashback Credit Card after Citi’s exit from the Indian credit card market. Initially, the Axis Cashback Card was offered exclusively to existing Citi Cashback Cardholders as a migration option.
However, Axis has now made the card available for everyone, allowing everyone to apply for the card. Here’s everything you need to know about the Axis Bank’s Cashback Credit Card:
Overview
It’s a pure cashback credit card, quite similar to the SBI Cashback Credit Card, where the eligible cashback is automatically credited to the card account without the need for manual redemption.
While cashback cards are typically positioned in the entry-level segment, this one stands apart.
While it offers decent reward rate on smaller spends, it requires higher spends to unlock real value, making it more apt to call it a Premium Cashback Credit Card.
Fees
(excludes: rent & wallet spends)
Given that the Axis Cashback Credit Card is positioned as a cashback product, it feels odd that the welcome benefit comes as reward points rather than direct cashback.
However, since the reward points match the value of the joining fee, it’s totally fine.
*** Best Premium Cashback Credit Card ***
Rewards
Reward RateOnline
(upto 5,000 INR)2%100 INR2%Online
(5,000 INR – 40,000 INR)5%1,750 INR4.6%
(on 40K Spend)Online
(> 40,000 INR)7%2,150 INR5.6%
(on 70K Spend)Offline & Travel0.75%Unlimited–Utility0.5%100 INR–
The cashback structure on this card feels unnecessarily complicated for an entry-level product.
Axis Bank markets it with the highlight of ‘7% cashback’, but in practice, the effective rate never really crosses 5.6% because of the way the system is designed, as you can see above.
This makes the 7% claim more of a marketing gimmick than a real-world benefit.
On top of that, the cashback rate on utility spends is extremely low, especially considering this is a card with an annual fee of Rs.1,000.
Lounge Access
The Axis Cashback Credit Card doesn’t offer airport lounge access at the moment.
However, since the Axis Cashback Credit Card is issued on the Visa Signature platform, there’s a possibility that Axis may introduce complimentary lounge access benefits in the future, perhaps linked to a higher spend milestone.
If you’re looking for lifetime free credit card with lounge access, Scapia Credit Card would do the needful and might serve as a great combo alongside Axis Cashback Card for beginners.
Axis Vs SBI Cashback Cards
Among the two, SBI Cashback Credit Card is definitely the superior one over Axis Cashback Credit Card for various reasons.
It offers a higher monthly cashback cap, a simple tier-free reward structure, and has remained relatively stable with minimal devaluations over the past two years.
However, Axis Cashback Credit Card is still better than most other cashback cards within Axis ecosystem like Axis Flipkart or Axis Ace credit cards.
Devaluation meter
Axis Bank is known for devaluing its credit card benefits quite often, so it’s always good to keep in mind that what looks attractive today might get a haircut tomorrow.
But given that the benefits are decently contained and that it’s a Citi Card replacement, I would not expect Axis Bank to go on a devaluation spree with this card, at-least not in 2025.
Should you get it?
If most of your spends are on online merchants (excluding travel), the Axis Bank Cashback Credit Card can be a solid choice, particularly in the following scenarios:
If your online spends are around 50K INR a month
If your online spends are more than 1L INR a month on SBI Cashback Card.
Overall, it’s a great card to stack alongside the SBI Cashback Credit Card, and also works as a solid alternative for those seeking a cashback option within the Axis ecosystem.
Essentially, one can save 48,000 INR on 8.4 Lakh annual spend, which is quite impressive. The Axis Cashback Card is now open to be applied online.
*** Best Cashback Card for High Spends ***
Bottom line
The Axis Bank Cashback Credit Card is indeed one of the best cashback credit cards in the country, especially if your online spends are in line with the spends required to achieve higher reward rate.
Axis Bank Cashback Credit Card combined with Axis Atlas and Axis Magnus Burgundy / Axis Olympus (not open yet) is a powerful combo for those looking to live a life on Credit Card Rewards.
Do you’ve the Axis Bank’s Cashback Credit Card? Feel free to share your thoughts in the comments below.
