You often wish to get something back for shopping. That’s where cashback and rewards cards come in. The Flipkart SBI credit card taps into exactly this desire. It promises extra value if you already shop heavily on Flipkart, Myntra, and other partner merchants. In this Flipkart SBI credit card review, the aim is to break down exactly what the Flipkart SBI Credit Card offers: the good, the not-so-good, and whether it’s worth applying. By the end, you’ll have a clear idea if this card is a match for your spending habits.
Flipkart SBI Credit Card Review: Quick Overview
| Feature | Details |
|---|---|
| Card issuer | SBI Card (in partnership with Flipkart) |
| Annual / joining fee | ₹500 + taxes (joining); ₹500 renewal (waivable) |
| Welcome bonus / gift | ₹250 Flipkart gift card (on fee realisation) |
| Best for | Online shoppers, especially Flipkart/Myntra users |
| Welcome bonus/gift | Cashback/rewards |
In short, it’s a co-branded cashback card meant to give more returns on e-commerce and other spends.
Flipkart SBI Credit Card Review: Key Benefits
Let’s dig into what the Flipkart SBI credit card really offers. Some benefits are strong; others are modest.
Cashback / Rewards
This is the main attraction. The Flipkart SBI Credit Card gives:
- 5% cashback on Flipkart purchases.
- 7.5% cashback on Myntra.
- 5% (or similar) on Cleartrip for flight, hotel, bus bookings (via offers)
- 4% cashback at “preferred/select merchants” like Zomato, Uber, PVR, NetMeds (with limits)
- 1% on all other eligible spends (outside partner / special categories)
Note: Cashback is not applicable on certain categories such as fuel, government payments, insurance, jewellery, wallets, or on EMI / Flexipay spends as per terms.
There is a cap on quarterly cashback for each merchant/category. For example, for Flipkart or Cleartrip, there’s a quarterly capping (for merchant-wise).
Travel Benefits
This card is not travel-centric. It doesn’t offer complimentary airport lounge access (at least not by default). Its strength is in shopping, not travel.
That said, it does provide a fuel surcharge waiver: 1% waiver on petrol purchases (transactions between ₹500 and ₹4,000) across petrol pumps in India, capped at ₹400 per statement cycle.
But there’s a catch: this waiver won’t apply to all fuel transactions (some are excluded).
Shopping / Partner Offers
Because it’s a co-brand with Flipkart, extra perks and partner offers matter:
- On Cleartrip, there are instant discounts plus extra cashback offers.
- Flipkart gift card of ₹250 is given as a welcome perk.
- Occasionally, SBI / Flipkart run limited-time offers (vouchers, contests).
EMI / Big Spend Perks
- Flexipay / EMI convert: If a transaction is ₹2,500 or more, you may convert it into monthly instalments (Flexipay).
- Balance Transfer / EMI: You can transfer outstanding balances from other cards to this card and pay in EMI form.
These features are nice, but they are ancillary compared to the cashback benefit.
Flipkart SBI Credit Card Review: Charges
Understanding the costs is key. A great card can be ruined by hidden charges.
Annual Fee (and waiver conditions)
- Joining / one-time fee: ₹500 + taxes.
- Renewal / annual fee: ₹500 (from 2nd year)
- Waiver: The renewal fee is reversed if your annual spend in the preceding year is ≥ ₹3,50,000.
In effect, if you spend ₹3.5 lakh or more in a year, you won’t pay the renewal fee next year.
Interest Rate (APR) & Finance Charges
I couldn’t reliably find a published exact APR in the sources I checked. The terms & conditions (on SBI’s site) would carry that detail (as with all credit cards).
However, interest rates tend to be steep if you carry a balance beyond the due date. So always aim to pay in full.
Late Fee, Forex Markup, and Miscellaneous Charges
- Late / penalty fees: Standard for credit cards, likely similar to other SBI Cards’ penalty structures. (Check the terms)
- Foreign exchange/forex markup: It seems the card has a 3.5% forex markup when used abroad.
- Fuel surcharge waiver cap: ₹400 per cycle max.
- Other charges (card replacement, overlimit, cash advance) will apply according to SBI’s “Most Important Terms & Conditions”.
It’s wise to review the fine print once your card is active.
Flipkart SBI Credit Card Review: Pros and Cons
Here’s a simple snapshot:
Pros
- Strong cashback rates for Flipkart / Myntra / partner merchants
- Renewal fee waiver with high spend — good for heavy users
- Fuel surcharge waiver (modest)
- Flexipay / EMI & balance transfer features
- Welcome gift (₹250)
Cons
- Cashback caps per merchant/quarter limit the upside
- Many exclusions (fuel, insurance, wallets, etc.)
- No lounge access or premium travel perks
- High forex markup (3.5 %) for international spend
- Requires high annual spending to avoid paying the renewal fee
Who Should Apply for the Flipkart SBI Credit Card?
Let’s break down ideal and non-ideal users.
Best for
- Frequent online shoppers, especially on Flipkart and Myntra
- People with monthly e-commerce spends in categories like food delivery, rides, and streaming
- Those willing to push toward ₹3.5 lakh annual spend to waive the renewal fee
- Shoppers who want simplicity (a co-brand card focused on e-commerce)
Not ideal for
- People who spend little online (i.e., most spend is offline)
- Travelers who want lounges, travel insurance, or premium perks
- Users who transact abroad often (due to high forex markup)
- Those who can’t commit to high annual spending
If you rarely shop online or mostly shop at physical stores, you may find other cards more balanced.
How to Apply for Flipkart SBI Credit Card
Eligibility criteria
Typical criteria (based on SBI / co-brand card norms):
- Indian resident (resident individual)
- Minimum age (often 18 or 21) and maximum age as per SBI rules
- Satisfactory income/credit history
- Good credit score
Exact eligibility will be shown during the application on SBI Card’s site / Flipkart.
Documents required
- Identity proof (Aadhaar, PAN, passport, etc.)
- Address proof (utility bill, Aadhaar, passport, etc.)
- Income proof (salary slips, Form 16, bank statements, ITR)
- Photographs
- Existing bank account / KYC
How to apply
- Visit the official SBI Card: Flipkart page or Flipkart’s credit card section
- Submit an online application (most likely via digital KYC)
- Wait for approval; if approved, the card will be dispatched
- Check for promotional offers or bonus vouchers at the time of launch
(A useful idea: if you have an affiliate link later on, you can place it here.)
Flipkart SBI Credit Card Review: FAQs
Q1. When is the ₹250 gift card delivered?
It is sent within 60 days of the joining/fee realisation.
Q2. How often is cashback credited?
Cashback is generally auto-credited within two days of the statement generation.
Q3. Can one avoid the renewal (annual) fee?
Yes, by spending at least ₹3,50,000 in the preceding year. The renewal fee is reversed then.
Q4. Is there any cap on the cashback/rewards?
Yes — for key merchants like Flipkart or Cleartrip, there is quarterly capping per merchant. Also, preferred merchant cashback has limits.
Q5. What is the forex markup?
3.5 % when used internationally.
Verdict
The Flipkart SBI credit card offers solid value for people who are heavy online shoppers. Its standout appeal is its high cashback rates on Flipkart, Myntra, and partner merchants. If a user consistently spends a good chunk of money online, the rewards can offset the fees and more.
Yet, the card is not universally ideal. If someone’s spending leans offline or if they want travel perks, there are better options out there. Also, the requirement to spend ₹3,50,000 annually to waive the renewal fee is a steep threshold for many.
If you shop on Flipkart often, this card can easily save ₹2,000-₹5,000 (or more) per year, depending on your spending.
