Flipkart Axis Bank credit card: Key changes in fees, surcharges & cashback

Effective December 20 last year, Axis Bank has changed the terms and conditions of the Flipkart Axis Bank Credit Card

Axis Bank has announced changes to the terms and conditions of the Flipkart Axis Bank Credit Card, effective from December 20, 2024. The revisions impact fees and charges, introduce new surcharges, and modify cashback benefits. Here’s a breakdown of the key updates:

 

Revisions in fees and charges

 

Finance/interest charges: Monthly interest rate increased from 3.6 per cent to 3.75 per cent.

 

Cheque return or dishonour fee/auto debit reversal: Minimum fee raised from Rs 450 to Rs 500, and the previous maximum cap of Rs 1,500 has been removed.

 

Fee for cash payment: Customers making cash payments at Axis Bank branches will now pay Rs 175 instead of Rs 100.

 

Additional charge on non-payment of minimum amount due (MAD): A charge of Rs 100 will be levied if the MAD is not paid for two consecutive billing cycles. This will continue to be applied in each cycle until the MAD is cleared.

 

Dynamic currency conversion (DCC) markup fee: The fee has increased from 1 per cent to 1.5 per cent.

 

Rent surcharge: The 1 per cent surcharge on rent payments will continue; however, the previous Rs 1,500 cap per transaction has been removed.

 

Introduction of new surcharges

 

Wallet load transactions: 1 per cent fee will be applied if cumulative wallet load transactions reach or exceed Rs 10,000 in a statement cycle.

 

Fuel transactions: 1 per cent surcharge will be levied on cumulative fuel transactions exceeding Rs 50,000 in a statement cycle.

 

Education transactions: 1 per cent fee will apply to education payments made through third-party apps.

 

Utility transactions: 1 per cent fee will be charged on cumulative utility payments totaling Rs 25,000 or more in a statement cycle.

 

Online skill-based gaming: 1 per cent surcharge will be imposed on cumulative gaming spends of Rs 10,000 or more within a statement cycle.

 

Revision in cashback benefits

 

Transactions categorised under Government Services with Merchant Category Codes (MCCs) 9222, 9311, and 9402 will no longer be eligible for cashback.