Introduction
For most individuals, UPI payment is the go-to mode of payment for small transactions. Till about a few years back, users did not get any cashback/rewards for UPI payments. However, in the last few years, some banks have launched credit cards that offer rewards on UPI payments through RuPay credit cards. The Axis Bank super.money RuPay Credit Card is one such credit card that offers up to 3% cashback on UPI payments. In this article, we will look at the features and benefits of this card, its fees, and whether you should take it.
Axis Bank SUPERMONEY Rupay credit Card
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Overview Table
| Feature | Details |
|---|---|
| Card type | Rewards credit card |
| Reward range | Up to 3% cashback |
| Joining fee | Nil |
| Welcome bonus | NA |
| Renewal fee | Nil |
| Renewal benefit | NA |
| Best for | UPI transactions through the super.money App |
| USP | 3% cashback on UPI transactions through the super.money App, lifetime free |
Fees & Benefits
The Axis Bank super.money RuPay Credit Card is lifetime free. So, there is no joining fee and no annual renewal fee.
Eligibility & Documents
To be eligible for the Axis Bank super.money RuPay Credit Card, applicants must meet the following criteria and provide the necessary documents:
Eligibility Criteria
- Age: The applicant must be a resident of India, aged between 18 and 70 years.
- Income: A stable and regular source of income is required. The minimum income requirement is subject to the bank’s internal policy, but generally, applicants need to demonstrate a consistent ability to repay credit. This is assessed based on whether you are a salaried or self-employed individual.
- Credit Score: A good credit history and a CIBIL score of 750 or higher are typically preferred by the bank to assess creditworthiness.
Required Documents (KYC)
You will need to provide copies of the following documents during the application process:
- Proof of Identity: PAN Card, Aadhaar Card, Passport, or Voter ID.
- Proof of Address: Aadhaar Card, Passport, Utility Bills (not older than 3 months), or a Registered Rent Agreement.
Proof of Income
- For Salaried Individuals: Latest 3 months’ salary slips, last 3 months’ bank statements showing salary credits.
- For Self-Employed Individuals: Latest Income Tax Returns (ITR), and a copy of the profit and loss account and balance sheet for the last two years (certified by a CA).
Rewards Structure
The card provides cashback on specific transactions as follows.
| Category | Cashback rate |
|---|---|
| QR transactions done on/through the super.money App | 3% |
| All other eligible spends | 1% |
The maximum cashback that can be earned in a monthly statement cycle is capped at Rs. 500.
The following categories/transactions will not earn any reward points:
- Repayments
- Utility services
- Fuel transactions
- Clock, watch stores
- Jewellery and silverware stores
- Cash withdrawals
- Wallet loads
- Insurance premiums
- Education fees
- Government transactions
- Financial institutions
- Rental payments
- EMI transactions
- Purchases converted to EMI later
- Telecom
The cashback earned during a billing cycle will be visible in the monthly billing statement. The cashback earned during the current billing cycle will be automatically credited in the next billing cycle, 3 days prior to the statement generation. Suppose the statement date is 15th March. The cashback earned in the February month cycle (16th January to 15th February) will be credited on 12th March.
Comparison with Competing RuPay Cards
To understand the value of the Axis Bank super.money Credit Card, it’s useful to compare it with other popular RuPay credit cards focused on UPI rewards.
| Feature | Axis Bank super.money | Yes Bank Klick RuPay Credit Card | HDFC Bank UPI RuPay Credit Card |
|---|---|---|---|
| Annual Fee | ₹0 (Lifetime Free) | ₹250 + GST | ₹250 + GST |
| Welcome Bonus | NA | NA | NA |
| Primary Reward Rate | 3% cashback on UPI spends via the super.money app | Up to 5% cashback on UPI spends via the Kiwi app (Tiered structure) | 3% cashback on UPI spends (capped at ₹500) |
| Base Reward Rate | 1% cashback on other spends | 1% cashback on other spends | 1% cashback on other spends |
| Reward Cap | ₹500/month | ₹1,000/month | ₹500/month |
| Lounge Access | No | Yes (1 per quarter) | Yes (2 per quarter) |
How to use on UPI: A Step-by-Step Guide
The key benefit of this card is its seamless integration with UPI. Here’s a simple guide on how to link your card to a UPI app and start transacting.
- Step 1: Get the Card and Download a UPI App: Once you receive your physical or virtual card, make sure you have a UPI app like PhonePe, Google Pay, or Paytm installed on your smartphone.
- Step 2: Link Your Credit Card: In your chosen UPI app, navigate to the “Payment Methods” or “Link Credit Card” section.
- Step 3: Select Your Bank: From the list of banks, select “Axis Bank.” The app will automatically fetch your linked RuPay Credit Card.
- Step 4: Set a UPI PIN: You will be prompted to set a 4 or 6-digit UPI PIN for your credit card. You will need your card’s last 6 digits and the expiry date to authenticate the process. An OTP will be sent to your registered mobile number for verification.
- Step 5: Start Transacting: Once the UPI PIN is set, you can use your credit card for any UPI QR code payment by simply scanning the code, entering the amount, and selecting your Axis Bank super.money RuPay Credit Card as the payment source.
Additional features
The card offers the following additional features.
Fuel surcharge waiver
The card provides a 1% surcharge waiver on fuel transactions across India. The waiver applies to transactions between Rs. 400 and Rs. 4,000. The maximum waiver that can be availed in a statement cycle is Rs. 400.
How to apply
You can apply for the Axis Bank super.money RuPay Credit Card through the super.money App.
Optimal Use & Break-even Analysis
The Axis Bank super.money Credit Card provides a 3% cashback on UPI transactions through the super.money App and 1% cashback on other eligible transactions. A maximum of Rs. 500 cashback can be earned in a monthly statement cycle. So, the cardholder can use the card for Rs. 16,667 in a statement cycle on UPI transactions to earn the maximum Rs. 500 cashback (@3%).
Comparison with Yes Bank Klick RuPay Credit Card
The Axis Bank super.money Credit Card can be compared with the Yes Bank Klick RuPay Credit Card as both provide cashback on UPI payments. The Yes Bank Klick RuPay Credit Card provides Kiwi Neon members up to 5% cashback for UPI transactions done through the Kiwi App.
The base reward rate is 2% and slab-wise it increases, going up to 5% on eligible spends of Rs. 1,50,000 in a year. The Kiwi Neon annual membership costs Rs. 999 + Taxes. So, the more the cardholder spends, the more cashback they get, based on achieving spend-based milestones (3% for Rs. 50,000, 4% for Rs. 1,00,000, and 5% for Rs. 1,50,000 spends).
On the other hand, the Axis Bank super.money Credit Card provides a flat 3% cashback on eligible UPI spends. There are no cashback rate slabs based on milestone spends. Also, the card is lifetime free. So, no annual fees are to be paid.
Tips to Maximise Rewards
- Prioritise UPI Payments: To get the most out of this card, make sure to route all your UPI transactions through the super.money App to get the highest 3% cashback.
- Stay within the Cap: The monthly cashback cap is ₹500. This means you can get the full benefit by spending up to ₹16,667 on eligible UPI transactions. Any spend beyond this amount will only earn 1% cashback, which may be lower than what other cards offer.
- Pair with Another Card: For transactions that don’t earn rewards on this card (like fuel, utility bills, or insurance), use a different credit card that offers benefits on those specific categories. This ensures you are always earning the maximum possible reward rate on all your spends.
Pros & Cons
Pros:
- Lifetime Free: No joining or annual fees, making it an excellent card to hold without any cost.
- High UPI Cashback: One of the best cards for UPI transactions, offering a flat 3% cashback.
- Simple Rewards Structure: The reward system is straightforward, based on cashback rather than complex reward points.
- Fuel Surcharge Waiver: A valuable benefit for daily commuters.
Cons:
- Capped Cashback: The ₹500 monthly cap on cashback can be a limitation for high spenders.
- Limited Eligibility for 3% Cashback: The highest reward rate is only applicable to QR transactions made via the super.money App, not all UPI apps.
- No Lounge Access: Unlike some competing cards, this one does not offer complimentary lounge access.
- Exclusions: A wide range of categories, including fuel, utility, and insurance, are excluded from earning rewards.
Expert Verdict/Conclusion
The Axis Bank super.money Credit Card provides a decent 3% cashback on eligible UPI spends through the super.money App. It provides other benefits like 1% cashback on all other eligible spends, 1% fuel surcharge waiver, etc., and is lifetime free. Most of us spend some money on UPI transactions every month. So, the Axis Bank super.money Credit Card is a good card for most of us to earn 3% cashback on our UPI transactions, which otherwise don’t give any rewards or a low reward rate.
Frequently Asked Questions
1. Is there a renewal fee waiver criterion for this card?
No, the Axis Bank super.money RuPay Credit Card is lifetime free, so it does not have any annual or renewal fees. You do not need to meet any spend criteria to keep the card free.
2. How does the fuel surcharge waiver work?
The card offers a 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000. The maximum waiver is capped at ₹400 per monthly statement cycle. This means for a transaction of ₹1,000 on fuel, you will get a waiver of ₹10. You will have to pay the GST on the surcharge, which is not waived.
3. Is there a difference between a UPI payment and a POS swipe for rewards?
Yes, there is a significant difference. A UPI payment (specifically, a QR transaction made via the super.money App) earns you 3% cashback, while a standard Point-of-Sale (POS) swipe at a merchant terminal earns you only 1% cashback. It is crucial to use the card via UPI and the super.money app for the best reward rate.
4. Can I apply for this card offline?
No, the application for the Axis Bank super.money RuPay Credit Card is exclusively available through the super.money App. You cannot apply for it through a regular Axis Bank branch or their website.