Flipkart SBI Card launched in India: What are the benefits?
What's the story
SBI Card and Flipkart have launched a co-branded credit card, the Flipkart SBI Card. The new offering comes with attractive cashback benefits across the entire Flipkart ecosystem, including Myntra, Shopsy, and Cleartrip. It is available on both Mastercard and VISA platforms and can be applied for digitally through the Flipkart app or SBI Card website.
Cashback details
Card offers up to 7.5% cashback across multiple categories
The Flipkart SBI Card offers a whopping 7.5% cashback on Myntra purchases and 5% on spends made on Flipkart, Shopsy, and Cleartrip. This is subject to a quarterly cap of ₹4,000 per category. The card also gives 4% cashback on select brands like Zomato, Uber, Netmeds, PVR and an unlimited 1% cashback on all other eligible transactions.
Extra perks
Other key features of Flipkart SBI Card
The Flipkart SBI Card offers a 1% fuel surcharge waiver, subject to a cap of ₹400 per statement cycle. It also levies a forex markup of 3.5% on foreign currency spends. The cashback earned is automatically credited to the card account within two days of statement generation. The card comes with a joining/annual renewal fee of ₹500 plus applicable taxes, which is waived off if cardholders spend ₹3,50,000 annually.
Incentives
Limited-period offer for new applicants
New applicants of the Flipkart SBI Card can avail welcome benefits worth ₹1,250 in the form of e-gift cards and Cleartrip vouchers. There is also a limited-period launch offer where successful applicants stand a chance to win Samsung Galaxy smartwatches and Ambrane wireless power banks. These incentives are part of SBI Card's efforts to provide products that meet evolving customer needs, according to Salila Pande, MD & CEO of SBI Card.