Several co-branded credit cards in the market give you 1 to 10% cashback. However, the cashback is restricted to purchases made within the brand partner’s ecosystem or specific categories. But, how about a credit card that gives you up to 7% cashback on most of your online spends? Also, the cashback is real cash and not some reward points or loyalty points of some program. We are talking about the Axis Bank Cashback Credit Card. In this article, we will discuss the features and benefits of this card and whether you should take it.
Overview Table
| Feature | Details |
| Card type | Cashback credit card |
| Reward range | Up to 7% cashback |
| Joining fee | Rs. 1,000 + Taxes |
| Welcome bonus | 5,000 EDGE Reward Points worth Rs. 1,000 |
| Renewal fee | Rs. 1,000 + Taxes |
| Renewal benefit | NA |
| Best for | Cashback on online spends |
| USP | Up to 7% accelerated cashback on online spends, 25% instant discount on EazyDiner up to Rs. 800 per month, annual fee reversal on milestone annual spends |
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Fees & Benefits
The annual fee on the Axis Bank Cashback Credit Card is Rs. 1,000 + Taxes.
The cardholder gets a welcome benefit of 5,000 EDGE Reward Points worth Rs. 1,000. The welcome benefit is applicable on payment of joining fee and making the first spend transaction within 30 days of card issuance. The EDGE Reward Points can be redeemed on the EDGE REWARDS portal.
The annual renewal fee on the card is Rs. 1,000 + Taxes.
The annual renewal fee is waived on spending Rs. 4 lakhs or more in the previous year. Rent payments and wallet loading are excluded from the spends calculated for the annual fee waiver.
Rewards Structure
The rewards structure on the Axis Bank Cashback Credit is as follows.
| Transaction description | Cashback rate |
| Online qualifying spends up to Rs. 5,000 in a statement month | 2% cashback |
| Online qualifying spends from Rs. 5,001 to Rs. 40,000 in a statement month | 5% cashback |
| Online qualifying spends above Rs. 40,000 in a statement month | 7% cashback |
The online qualifying spends include all online spends except for travel (airlines, travel rental, travel agencies, railways, local transport) and excluded categories mentioned below. The maximum cashback a customer can earn for online spends in a statement month is Rs. 4,000. The Rs. 4,000 maximum monthly cashback can be earned on monthly spends of Rs. 70,715 as follows.
| Monthly spends | Cashback rate | Cashback amount | Total monthly cashback |
| Rs. 5,000 | 2% | Rs. 100 | Rs. 100 |
| Next Rs. 35,000 | 5% | Rs. 1,750 | Rs. 1,850 |
| Next Rs. 30,715 | 7% | Rs. 2,150 | Rs. 4,000 |
Excluded categories
The spends on the below categories will not earn any cashback.
- Transportation and tolls
- Insurance
- Educational institutions
- Jewellery, precious metals and watches
- Government institutions
- Wallet loading
- Rent
- Fuel
The cardholder will get a 0.75% cashback on offline spends and travel spends (online and offline). There is no statement month capping on the cashback amount. The excluded categories mentioned in the above section will not earn any cashback.
Bonus cashback: The cardholder will receive a 0.50% bonus cashback on utilities transactions. The merchant category codes (MCCs) covered include 4816, 4899, and 4900. There is a capping of Rs. 100 per statement month.
The cashback earned in a monthly billing cycle will be automatically provided as statement credit before the next statement date.
Additional Features
The Axis Bank Cashback Credit provides the following additional features.
Dining discounts: The cardholder is eligible for a 25% discount on the EazyDiner App up to Rs. 800 per month for a minimum transaction of Rs. 2,500. The offer can be availed of once in a calendar month.
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How to Apply
You can apply for the Cashback Credit Card through the Axis Bank website/App. The eligibility criteria include the following.
- The individual must be a resident Indian
- Must be aged between 18 and 70 years
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Optimal Use
The Axis Bank Cashback Credit Card gives optimal value for monthly eligible online spends of Rs. 70,715. With these eligible online spends, you can earn the maximum monthly accelerated cashback of Rs. 4,000.
Expert Verdict/Conclusion
Do you spend a lot online and prefer cashback instead of reward points? If yes, you may consider the Axis Bank Cashback Credit Card. It gives you a good 7% cashback rate of up to Rs. 4,000 in a monthly billing cycle. The cashback is automatically credited before the next statement is generated. It also provides 25% discount on dining through EazyDiner.