By: Our Money Guide || Last updated on: September 11, 2025
The Flipkart SBI Credit Card, launched in August 2025, offers excellent cashback rates for frequent users of the Flipkart ecosystem and select partners. With 7.5% cashback on Myntra and 5% on Flipkart purchases, it provides solid value for online shopping and is one of the best cashback credit cards in India, though quarterly caps may limit benefits for very high spenders.
The card's strength lies in its straightforward cashback structure and auto-credit feature, which eliminates the complexity of point redemptions. However, it is very similar to Flipkart Axis Credit Card, hence may not justify switching for users already happy with their existing Flipkart co-branded cards.
Quick Overview
- 7.5% cashback on Myntra purchases (quarterly cap: ₹4,000)
- 5% cashback on Flipkart, Cleartrip (quarterly cap: ₹4,000 each)
- 4% cashback on Zomato, Uber, PVR and Netmeds (combined quarterly cap: ₹4,000)
- 1% cashback on all other eligible purchases (no cap)
- Cashback automatically credited within 2 days of statement generation
- ₹500 annual fee, waived on ₹3.50 lakh annual spending
- Welcome vouchers worth ₹1,250 (₹250 Flipkart voucher + limited-time ₹500 each from Flipkart and Cleartrip)
- 1% fuel surcharge waiver up to ₹400 per month
- Eligibility: Minimum monthly income of ₹15,000 (salaried) or ₹30,000 (self-employed)
Pros & Cons of Flipkart SBI Card
Pros
- High cashback rates on popular platforms, especially Myntra
- Good welcome offer
- Automatic credit of cashback feature
- Low income requirements
Cons
- High spending requirement for annual fee waivers
- Quarterly cashback caps limit earning potential for heavy spenders
- Cardholders are restricted to Flipkart & select partner benefits
- No airport lounge access
Features & Benefits of the Flipkart SBI Card
Cashback Rewards
The Flipkart SBI Credit Card follows a multi-level cashback structure that heavily favours the Flipkart ecosystem. Here's how the rewards work:
| Category | Cashback Rate | Quarterly Cashback Limit | Quarterly Spending Needed to Hit Limit |
|---|---|---|---|
| Myntra | 7.5% | ₹4,000 | ₹53,333 |
| Flipkart | 5% | ₹4,000 | ₹80,000 |
| Cleartrip | 5% | ₹4,000 | ₹80,000 |
| Shopsy | 5% | ₹4,000 | ₹80,000 |
| Partners Combined (Zomato, Uber, PVR, Netmeds) | 4% | ₹4,000 | ₹1,00,000 |
| All Other Purchases | 1% | No Cap | Unlimited |
The quarterly cashback limits make it a bit more flexible for consumers, compared to the usual monthly rewards caps that many cards follow. An annual cap will be even more consumer-friendly.
Important exclusions: Cardholders do not earn rewards on Fuel Spends, Wallet Load, Gift or prepaid card load, Voucher purchase, Cash Advance, Payment of outstanding balance, Payment of card fees and other charges, Rental and Govt. related Transactions, Education payments, Jewelery, Insurance, Gaming, EMI Spends.
How it compares to Flipkart Axis Bank Credit Card
The Flipkart SBI Card is very similar to the Flipkart Axis, but has some differences:
| Card | Annual Fee | Myntra Cashback | Flipkart Cashback | Cleartrip Cashback | Partner Merchants | Other Purchases |
|---|---|---|---|---|---|---|
| Flipkart SBI Credit Card Launched Aug 2025 | ₹500 (Waived on ₹3.5 lakh spending) | 7.5% (Limit: ₹4,000/quarter) | 5% (Limit: ₹4,000/quarter) | 5% (Limit: ₹4,000/quarter) | 4% (Combined cap: ₹4,000/qtr) • Zomato • Uber • PVR • Netmeds | 1% (No limit) |
| Flipkart Axis Bank Credit Card Launched 2019 | ₹500 (Waived on ₹3.5 lakh spending) | 7.5% (Limit: ₹4,000/quarter) | 5% (Limit: ₹4,000/quarter) | 5% (Limit: ₹4,000/quarter) | 4% (Unlimited) • Swiggy • Uber • PVR • Cult.fit | 1% (No limit) |
Flipkart SBI vs. Flipkart Axis: The key differences
These cards are very similar in core benefits but have some differences:
- Partner networks: SBI version includes Zomato and Netmeds; Axis includes Swiggy and Cult.fit
- Partner caps: SBI limits partner cashback to ₹4,000 quarterly; Axis offers unlimited partner cashback
- Welcome offers: SBI currently offers more generous ₹1,250 total welcome benefits
Flipkart SBI Card Fees and Charges
- Annual fee: ₹500 (first year and renewal)
- Fee waiver: Spend ₹3.5 lakh annually to waive the ₹500 fee
- Foreign transaction fee: 3.5% on international purchases
The ₹3.5 lakh annual spending requirement translates to approximately ₹29,167 monthly spending. Given category exclusions (utilities, rent, insurance), this threshold may be challenging for some users to achieve through eligible purchases alone.
Eligibility Criteria
Basic criteria
- Age: 18-65 years
- Income: ₹15,000 monthly (salaried) or ₹30,000 monthly (self-employed)
- Credit score: 750+ recommended for best approval chances
Flipkart SBI Card vs Competitors
vs. Amazon Pay ICICI Credit Card
- Flipkart SBI: Higher fashion cashback (7.5% Myntra), broader lifestyle partners, welcome bonus worth ₹1,250
- Amazon Pay ICICI: Lifetime free, unlimited Amazon cashback, better for Prime members
vs. Flipkart Axis Bank Credit Card
- Flipkart SBI: Generous launch offer (₹1,250 welcome benefits)
- Flipkart Axis: Unlimited partner cashback (vs capped), different partner set (Swiggy/Cult.fit vs Zomato/Netmeds)
vs. Cashback SBI Credit Card
- Flipkart SBI: Higher cashback rate at Myntra (7.5%), lower annual fee (₹500 vs ₹999)
- SBI Cashback: Higher monthly cashback caps (₹5,000 vs ₹4,000 quarterly), lower annual fee waiver threshold (₹2 lakh vs ₹3.5 lakh), broader online merchant coverage
vs. Swiggy HDFC Bank Credit Card
- Flipkart SBI: Higher cashback rate at Myntra (7.5%), clear list of partners for cashback rewards
- Swiggy HDFC: Higher food delivery cashback (10% vs 4%), lower fee waiver threshold (₹2 lakh vs ₹3.5 lakh), golf benefits
As you can see, except for a very few specific scenarios, other cards maybe more beneficial. Or you can add the Flipkart SBI Card to your existing cards portfolio to earn higher rewards on specific partners like Myntra.
| Card Name | Annual Fee | Benefits |
|---|---|---|
|
Minimum Income
Salaried: ₹15,000 per month || Self-employed: ₹30,000 per month |
Annual Fee - ₹ 500
|
Special Benefits
- |
|
Amazon Pay ICICI Bank Credit Card Minimum IncomeSalaried : ₹20,000 per month || Self-employed : ₹3,60,000 per year |
Annual Fee - ₹ 0
|
Special Benefits
|
|
Minimum Income
Salaried : ₹15,000 per month || Self-employed : ₹6 lakhs per year |
Annual Fee - ₹ 500
|
Special Benefits
|
|
Flipkart Axis Bank Credit Card Minimum IncomeSalaried : ₹15,000 per month || Self-employed : ₹30,000 per month |
Annual Fee - ₹ 500
|
Special Benefits
|
|
Minimum Income
Not specified |
Annual Fee - ₹ 999
|
Special Benefits
|
Conclusion
Who should get this card?
The Flipkart SBI Credit Card works best for specific user profiles:
Ideal candidates:
- Flipkart ecosystem users: Regular shoppers on Flipkart and Myntra ecosystem (especially Myntra) who can benefit from high cashback rates
- Fashion enthusiasts: The 7.5% Myntra rate is among the highest available for fashion purchases
- New credit card users: The welcome offer provides immediate value that exceeds the first-year fee
- Moderate spenders: Users who spend enough to benefit from bonus categories but not enough to hit quarterly caps quickly
- SBI Card loyalists: Existing SBI Card users who prefer staying within the same ecosystem
Consider alternatives if you:
- Prefer Amazon: Amazon Pay ICICI offers better value for Amazon Prime members
- Are a heavy spender: Quarterly caps may limit your earning potential
- Travel internationally: The 3.5% foreign transaction fee makes this expensive for international use
- Want simplicity: Flat-rate cards like SBI Cashback may be easier to manage
- Already have Flipkart Axis: Limited incremental benefits for switching
The Flipkart SBI Credit Card is a competitive offering in the co-branded credit card space that will appeal most to committed users of the Flipkart ecosystem. The card's strength lies in its high cashback rates for specific categories and the convenience of auto-credited cashback rewards.
However, it doesn't break significant new ground compared to the existing Flipkart Axis Card. The decision between the two will come down to personal preferences around bank relationships, partner merchants, and current promotional offers.
For new credit card users switching from cards with lower reward rates, the Flipkart SBI Card offers solid value.
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