Who this card is for
Someone who orders two Myntra parcels a month, buys their big appliances during the Big Billion Days sale, and eats out through Swiggy a few times a week. If that's you, this card is basically free money. Minimum income is Rs 3 lakh a year and both salaried and self-employed applicants are accepted, so gig economy folks and consultants can also qualify. We'd especially recommend this to anyone in a metro who uses PVR for movies, since the 4% on PVR tickets is a small but real perk that adds up.
What you earn
The headline rate is 5% unlimited cashback on Flipkart, Myntra and 2GUD. That's genuinely unlimited, with no monthly cap, which is rare at this fee point. If you drop Rs 80,000 on a new washing machine during a Flipkart sale, you're walking away with Rs 4,000 back. Try that math on any other Rs 500 annual fee card and you'll come up short.
Four percent on Swiggy, Uber, PVR and a few other preferred partners is useful but not life-changing. Think of it as a bonus layer rather than a core reason to take the card. The 1.5% on everything else is solid, slightly ahead of most entry-level cards if you adjust for redemption friction.
How does it stack up against the obvious rival? The Amazon Pay ICICI card gives 5% on Amazon only if you have a Prime membership and 3% otherwise. For anyone who splits their online shopping between Amazon and Flipkart, running one card per platform is the clean move. And if you're loyal to Flipkart's ecosystem specifically, this card has no real competitor at the Rs 500 fee tier.
A quick word on the fine print that tripped up users last year. Wallet loads, rent payments, fuel and a handful of other MCC codes are excluded from the 5% rate. If you were hoping to route your Ola Money top-ups through this card for cashback, forget it. The bank has tightened those exclusions over the past two years, so treat the 5% as genuinely for Flipkart checkout pages, not a backdoor to arbitrage.
| Category | Rate | Detail |
|---|---|---|
| Flipkart, Myntra | 5% | |
| Preferred merchants | 4% | |
| Default cashback rate | 1% | All other eligible spends |
What you actually pay
The joining fee is Rs 500 and the annual fee is also Rs 500, both plus GST. Waiver hits at Rs 2 lakh of annual spend. That's about Rs 16,700 a month, which frequent Flipkart buyers cross without trying. Anyone doing Big Billion Day shopping alone will clear it in a single sale weekend.
What about the real cost for a low spender? If you're charging just Rs 50,000 a year on the card, you'll pay the Rs 500 fee and still come out ahead because of the 5% rate on Flipkart. Even a modest Rs 30,000 Flipkart spend returns Rs 1,500 in cashback, three times the fee. There's a 1% fuel surcharge waiver on top, and the lounge visits quietly cover the fee all on their own for one airport trip.
| Joining fee | ₹500 |
| Annual fee | ₹500Waived on annual spend of ₹3.5 lakh or more |
What we like, what we don't
What works
- 5% unlimited cashback on Flipkart, Myntra and 2GUD with no monthly cap, unlike HDFC Millennia's Rs 1,000 cap
- 4% on Swiggy, Uber and PVR covers daily metro spends on food delivery and rideshare
- Annual fee of Rs 500 waived on Rs 2 lakh spend, which any Flipkart regular clears easily
- 1.5% on all other spends is higher than most entry-level cards
What it costs you
- Cashback is credited as statement credit with a 90 day window, not instant at checkout like some co-branded cards
- Rent payments, wallet loads, fuel and a few MCC codes are excluded from the 5% rate
- If you don't shop on Flipkart, the card loses its main advantage and a 1.5% default rate isn't special
- Customer service and billing disputes on Axis have a mixed reputation, so be ready to escalate if cashback credits don't appear
- No lounge access