Samsung India has launched two co-branded credit cards in partnership with Axis Bank. The USP of these cards is cashback on Samsung product purchases around the year while offering other benefits. There are two variants – Visa Signature and Visa Infinite. Here is everything you need to know about the Samsung Axis Bank Signature and Samsung Axis Bank Infinite credit cards.
Fees and Charges
|Samsung Axis Bank Signature Credit Card||Samsung Axis Bank Infinite Credit Card|
|Joining and Annual Fee||Rs 500||Rs 5000|
|Welcome Benefit||2500 EDGE RP||30000 EDGE RP|
|Annual Fee Waiver||Rs 2 Lakhs spend||Rs 7 Lakhs spend|
The welcome benefit will be credited on doing 3 transactions within 30 days from the card issuance date.
Both cards get 10% cashback on Samsung purchases around the year. The cashback is applicable on the below purchase channels.
- Physical stores under ‘Brand EMI’ on Pinelabs terminals and Benow Soft POS – Both EMI and full swipe transactions
- Samsung eStore and Samsung Shop app
- Flipkart purchases
- Samsung service center payments on Benow soft PoS
|Purchase Category||Samsung Axis Bank Infinite Credit Card||Samsung Axis Bank Signature Credit Card|
|Samsung products||10% Cashback|
up to Rs 5000/month and Rs 20000/year
up to Rs 2500/month and Rs 10000/year
BigBasket, 1mg, UrbanCompany, Myntra and Zomato
|15 EDGE RP/Rs 100 ~3% Return||10 EDGE RP/Rs 100 ~2% Return|
|Fuel, Rental Payment, Wallet Load, Jewellery, Git Vouchers||No Rewards||No Rewards|
|All other domestic transactions||5 EDGE RP/Rs 100 ~1% Return||5 EDGE RP/Rs 100 ~1% Return|
|International transactions||15 EDGE RP/Rs 100 ~3% Return||5 EDGE RP/Rs 100 ~1% Return|
If you were excited by the 10% cashback announcement during the press launch, here is the reality check. With these caps, I doubt you will be able to buy high-end smartphones. This is best for appliances and mid-segment smartphone purchases.
Complimentary Airport Lounge Access
- Signature Variant: 4 complimentary visits/calendar year to airport lounges in India with Visa
- Infinite Variant: 8 complimentary visits/calendar year to airport lounges in India with Visa and 6 complimentary visits/calendar year to airport lounges outside India with Priority Pass
Key Features and Benefits
- Fuel Surcharge Waiver: 1% waiver for both Signature and Infinite variants
- EazyDiner Prime membership: 1-year complimentary membership only for Infinite variant
- Forex Markup Charges: 3.5% for both Infinite and Signature variants
This will be another co-branded credit card that will not see much traction. The simple reason is I don’t see much of a benefit.
While the 10% cashback seemed ok, the caps are low for the prices at which Samsung sells its smartphones. The second factor is the high annual fee waiver criteria. There is no way to meet that target without sacrificing the rewards we would get on other cards.
A rather disappointing credit card launch!