Building savings is one of the most important financial habits you can inculcate as a financial consumer. With prices constantly on the rise, you are probably already seeking creative ways to increase savings. One approach to increasing savings is to consider thrift shopping with your Credit Card. Here’s how you can go about it.
Introducing the Flipkart Credit Card
Today, branded Credit Cards like the Flipkart Credit Card are gaining popularity. They offer practical benefits, which are helpful to consumers in navigating daily lives. Your smart usage of the card also translates to considerable savings.
Axis Bank offers the Flipkart Axis Bank credit card in partnership with Flipkart, one of India’s largest online shopping platforms. Instead of Axis Edge Rewards earned on regular cards, you will earn cashback every time you use the card. You are essentially getting paid when you spend!
Flipkart Credit Card Benefits
Here's a snapshot of your Flipkart Credit Card benefits:
- You receive ₹600 worth of joining and activation benefits.
- 5% unlimited cashback on the value of every purchase made on Flipkart
- 4% unlimited cashback on purchases made at preferred merchants such as Swiggy, Tata Sky, Uber, PVR, Curefit, Cleartrip, and Tata 1MG
- 1.5% unlimited cashback for purchases across all other merchants
- 4 complimentary domestic lounge access visits per year (one per quarter)
- 1% fuel surcharge waiver up to ₹500 per month for spends between ₹400 and ₹4000.
Making the most of your Flipkart credit card
Your monthly budget tends to include categories such as groceries, lifestyle products like clothes and shoes, home care products, personal grooming, fuel, and cab fare. In some months, you may also spend on a movie night out, electronics, and air travel.
Ideally, budget all these expenses and make sure you put them on your Flipkart Credit Card. This approach allows you to maximise your card benefits and translate usage into savings.
Also Read: 6 benefits of using a Credit Card
Eligibility for your Flipkart Credit Card
The eligibility is as follows:
- To be a primary cardholder, you must be between 18 and 70 years of age.
- You can be a resident or non-resident Indian.
The final discretion lies with the issuing bank.
Key documentation
You need to submit the following documentation:
- PAN card photocopy/ Form 60
- One colour photograph
- Latest payslip/Form 16/IT return copy as income proof
- Residence proof: Passport/ Ration Card/ Electricity bill/ Landline telephone bill
- Identity proof: Passport/ Driving license/ PAN card/Aadhaar card
Build your credit score
Access to a Flipkart Credit Card allows you to build your credit score. This number, ranging between 300 and 900, communicates your creditworthiness to any financial institution from which you aim to access a loan. The higher the score, the better, making you eligible for better loan deals. There are two ways to increase your credit score.
Also Read: 6 Credit Card Mistakes to Avoid
By paying your bills on time, you avoid late credit card fees and higher interest on the due amount. You can also increase your credit score. Two, by putting all monthly spending on your Credit Card, you can increase usage, which also plays a role in upping your credit score.
The takeaway
Strategically using your Credit Card allows you to bring thrift to your shopping experience and increase savings. Axis Bank offers a high-value, co-branded Flipkart Axis Bank Credit Card that comes with attractive cashback benefits, fuel waivers, and free airport lounge access. The bank credits cashback directly to your card account every month.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision
