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 |
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.
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
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.
Eligibility & Documents
To apply for the Axis Bank Cashback Credit Card, applicants must meet the following general criteria:
| Requirement | Details |
|---|---|
| Applicant Age | Must be between 18 and 70 years old (Primary Cardholder). |
| Residential Status | Must be a Resident Indian. |
| Income Requirements | Varies by bank policy, but a strong credit profile and a steady source of income are essential. Check with Axis Bank for the latest minimum income criteria. |
Required Documents (KYC & Income Proof – Indicative List):
- Proof of Identity: PAN Card, Aadhaar Card, Passport, Voter ID, Driving License.
- Proof of Address: Aadhaar Card, Passport, Utility Bills (not older than 3 months), Registered Rent Agreement.
- Proof of Income (Any one):
- Latest Salary Slip (for the last 3 months)
- Latest Bank Statement (showing salary credits)
- Latest Form 16/IT Return Copy (for salaried or self-employed)
Tips to Maximise Rewards
Here are practical strategies to get the most value from your Axis Bank Cashback Credit Card:
Concentrate Online Spends: Ensure your monthly online purchases (excluding travel and restricted categories) are concentrated on this card to maximize your spend in the 5% and 7% tiers.
Aim for the Rs. 4 Lakh Waiver: Target at least Rs. 4,00,000 in annual eligible spending to get the annual fee waived, significantly boosting your net savings.
Use for Utilities: Use the card for utility payments to benefit from the 0.50% bonus cashback, which is an added perk not common on all cashback cards.
Leverage Dining Benefit: Fully utilise the 25% EazyDiner discount once a month, as this benefit alone can cover a large portion of the annual fee.
Annual Cashback Scenario
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.
| Monthly Spends Category | Monthly Spend (Rs.) | Cashback Rate | Monthly Cashback (Rs.) | Annual Cashback (Rs.) |
|---|---|---|---|---|
| Online Spends (Eligible) | Rs. 20,000 | 2% on first 5K (Rs. 100) + 5% on next 15K (Rs. 750) = 4.25% effective | Rs. 850 | Rs. 10,200 |
| Offline Spends | Rs. 15,000 | 0.75% | Rs. 112.5 | Rs. 1,350 |
| Utility Spends | Rs. 3,000 | 0.50% (Capped at Rs. 100) | Rs. 15 | Rs. 180 |
| Total Annual Cashback | Rs. 456,000 | – | Rs. 977.5 | Rs. 11,730 |
| Less Annual Fee (Rs. 1,000 + 18% GST) | – | – | – | Rs. 1,180 |
| Net Annual Return (Assuming no fee waiver) | – | – | – | Rs. 10,550 |
Note: In this scenario, the annual spend exceeds the Rs. 4 Lakh waiver threshold, so the Renewal Fee of Rs. 1,180 would typically be waived, increasing the net annual return to Rs. 11,730 (plus the one-time welcome benefit value).
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.
Frequently Asked Questions (FAQ)
Q1. Is there a fuel surcharge waiver on the Axis Bank Cashback Credit Card?
A. No, the Axis Bank Cashback Credit Card does not offer a fuel surcharge waiver. Furthermore, fuel transactions are explicitly listed as an excluded category and will not earn any cashback.
Q2. How can I get the annual renewal fee waived?
A. The annual renewal fee of Rs. 1,000 + Taxes is waived if you spend Rs. 4,00,000 or more in the previous card anniversary year. Note that rent payments and wallet loading are excluded from this spend calculation.
Q3. How is the cashback redeemed?
A. The cashback earned in a monthly billing cycle is automatically provided as a statement credit to your card account before the next statement date. You do not need to manually redeem points or convert them into cash.
Q4. Does the card offer airport lounge access?
A. No, the Axis Bank Cashback Credit Card currently does not offer complimentary domestic or international airport lounge access.
Q5. Can I apply for the card if I am a self-employed individual?
A. Yes, both salaried and self-employed individuals who meet the bank’s income and age criteria (18–70 years) are eligible to apply, subject to verification and the bank’s internal policy.