Axis Bank has recently launched the SuperMoney RuPay Credit Card, a new entrant designed to appeal to a broad spectrum of consumers. This credit card comes with no annual fees and delivers lucrative cashback benefits, making it an attractive choice for everyday spenders. The card is issued on the RuPay network, which is India’s domestic card payment system promoted by the National Payments Corporation of India (NPCI). The RuPay platform has been gaining traction for its wide acceptance across merchants and low transaction costs, making it a preferred choice for many consumers and financial institutions.
Key Features and Benefits
1. No Annual Fee
One of the most appealing features of the SuperMoney RuPay Credit Card is the absence of an annual fee and zero joining. It is a lifetime free credit card. This means cardholders can enjoy the card’s benefits without worrying about recurring charges, which is particularly beneficial for customers who want to manage their expenses carefully.
2. Attractive Cashback Rewards
The credit card offers up to 3% cashback on all digital spends done via SuperMoney App. This makes it especially rewarding for users who primarily transact through digital channels such as online shopping, bill payments, mobile recharges, and digital wallet top-ups. 1% cashback on all other eligible spends. The cashback is credited directly to the cardholder’s account, effectively reducing the cost of everyday purchases.
3. Fuel Surcharge Waiver
1% Fuel Surcharge Waiver on transactions at fuel stations across India. Applicable only on transactions between ₹400 and ₹4000 with a maximum benefit of ₹400 per statement cycle.
4. Supplementary Card Facility
Cardholders have the option to add supplementary cards for family members, allowing them to share the benefits while keeping spending under control. This is particularly useful for households aiming to consolidate their expenses while maximizing rewards.
Also read: Grocery Bills Too High? These Credit Cards Can Help You Save Big!
Eligibility Criteria and Application Process
- Age: Applicants must be at least 18 years old, with an upper age limit generally extending up to 65 years.
- Income: While Axis Bank has not publicly disclosed stringent income requirements for this card, applicants are expected to have a stable income source to qualify.
- Credit Score: A good credit score is generally essential to ensure approval, although the no-fee nature of this card may make it accessible to a wider pool of applicants compared to premium credit cards.
- The application process can be completed online via Axis Bank’s official website or mobile app. The bank also facilitates offline applications through its branch network, offering convenience for all customer segments.
How Does the Cashback Program Work?
- 3% Cashback on Digital Transactions: This includes payments made through online portals, mobile wallets, UPI-based transactions, and other digital channels.
- No Minimum Spend Requirement: Cashback is earned from the very first transaction without any minimum spending threshold.
- Monthly Cashback Cap: The total cashback that can be earned is subject to a monthly cap, which encourages consistent usage while allowing Axis Bank to manage the rewards program sustainably.
- Cashback amounts are credited to the card account monthly and can be used against future purchases or to offset the outstanding balance.
Who Should Consider the Axis Bank SuperMoney RuPay Credit Card?
- Young Professionals and Students: Those who prefer managing their expenses with minimal fees and want to earn cashback on daily digital transactions.
- Digital Payment Enthusiasts: Users who frequently transact online, pay bills digitally, and use mobile wallets will find the cashback rewards especially rewarding.
- First-Time Credit Card Users: The no-fee structure and simple cashback program make it an excellent entry-level credit card for customers building their credit history.
- Budget-Conscious Consumers: Individuals who want a credit card without hidden or recurring charges but still want to earn rewards on spending.
Additional Advantages
- Contactless and Secure Payments: The contactless feature allows cardholders to make quick transactions without physical contact with the payment terminal, adding a layer of safety and convenience. Additionally, the card incorporates chip and PIN security, reducing the risk of fraud.
- Easy Expense Management: Axis Bank provides customers with access to detailed digital statements, instant transaction alerts, and the ability to manage the card via mobile apps. This empowers users to track spending and control their credit usage effectively.
- Customer Support and Service: Axis Bank’s extensive branch network and dedicated customer service channels ensure that cardholders can receive timely assistance for any card-related queries or issues.
Potential Limitations
- RuPay Network Limitations: Although RuPay is widely accepted in India, some international merchants may not accept RuPay cards. Hence, frequent international travelers might prefer cards with Visa or Mastercard acceptance.
- Limited Reward Categories: The 3% cashback applies mainly to digital spends. For offline retail purchases, the cashback percentage may be lower or not applicable.
- Monthly Cashback Caps: Like most cashback programs, the SuperMoney card imposes a cap on the total cashback that can be earned in a month, which could limit rewards for high spenders.
The Axis Bank SuperMoney RuPay Credit Card is a strong contender in the no-annual-fee credit card segment, primarily due to its generous cashback on digital transactions and absence of recurring fees. It fits well with the growing digital payment ecosystem in India, catering to users who prefer seamless, secure, and rewarding payment options.
Written by Pydimarri Hema Harshini
