Axis Bank Supermoney Rupay Credit Card: Earn 3% cashback on UPI—Is it worth it?
The Axis Bank Supermoney Rupay Credit Card is a co-branded credit card from Axis Bank and supermoney from Flipkart. The credit card is offered on the Rupay platform and can be used for UPI transactions.
The Axis Bank Supermoney Rupay Credit Card offers 3% cashback on QR transactions done on/through the supermoney platform. So, if you are someone who uses UPI a lot, this card can help you save some money through cashbacks.
All other qualifying spends are eligible for a 1% cashback. The total cashback that can be earned in a monthly statement cycle is capped at Rs. 500. So, if a cardholder does all eligible scan and pay UPI transactions, on spending Rs. 16,667, the maximum cashback of Rs. 500 will be reached.
The other benefits of the card include: Fuel surcharge waiver Exclusive cashback offers on merchants like Ola, Myntra, MakeMyTrip, etc.
The Axis Bank Supermoney Rupay Credit Card does not provide any reward points for any transaction.
The cashback earned in a monthly billing cycle will be credited in the next billing cycle, 3 days prior to the statement generation date. For example, suppose the statement generation date is the 15th of the month. So, the cashback earned for the May billing cycle will be credited on 12th June.
The cashback will be calculated based on the spends done during the statement period minus any returns or refunds during the same period. If the purchase or transaction is returned, cancelled, or reversed post the statement generation date, the cashback toward such transactions will be debited on the date of such purchase or transaction reversal.
In the case of conversion of a transaction to EMI at a later date, cashback earned on such a transaction will be reversed during the same billing cycle as EMI conversion.
The spends on the following categories will not earn any cashback: Repayments Fuel transactions Jewellery Cash withdrawal Wallet loading Insurance premium payments Education-related payments Government services Rental transactions EMI transactions Purchases converted to EMI post facto
The Axis Bank Supermoney Rupay Credit Card is a lifetime free credit card. There is no joining fee or annual renewal fee.
The primary purpose of this credit card is for UPI transactions. However, the customer will get the physical card free, which can be used for other offline transactions to earn 1% cashback.
There are some credit cards that offer up to 2% cashback on UPI transactions. The Yes Bank Klick Rupay Credit Card offers up to 5% cashback. The cashback is applicable for cardmembers who have the Kiwi Neon membership (annual fee Rs. 999 + Taxes). The cashback starts from 2% for UPI scan and pay transactions done through the Kiwi App. On achieving various spend-based milestones, the cashback increases as follows: 3% cashback on eligible spends of Rs. 50,000 + 1 domestic airport lounge access 4% cashback on eligible spends of Rs. 1,00,000 + 1 domestic airport lounge access 5% cashback on eligible spends of Rs. 1,50,000 + 1 domestic airport lounge access
All the above milestone spends must be done in the Kiwi Neon annual membership period to earn up to 5% cashback.
So, the Yes Bank Klick Rupay Credit Card provides up to 5% cashback on UPI transactions, which is better than the 3% cashback provided by the Axis Bank Supermoney Rupay Credit Card. However, it involves the Kiwi Neon annual membership fee of Rs. 999 + Taxes. Also, the cashback starts at 2% and increases as the cardmember achieves the various spend-based milestones.
On the other hand, the Axis Bank Supermoney Rupay Credit Card does not involve any fees as it is lifetime free. Also, the card provides a flat 3% cashback on all eligible transactions without any spend-based milestones.
Do you do a lot of UPI transactions to pay various merchants for purchase of various goods or to avail various services? If yes, you may consider the Axis Bank Supermoney Rupay Credit Card. UPI transactions usually don't give any benefits, except under some limited-time offers or credit cards. So, if the Axis Bank Supermoney Rupay Credit Card is giving a 3% cashback on UPI transactions, it is a big benefit. Also, the cashback benefit comes without any additional costs as the credit card is lifetime free.
Gopal Gidwani is a freelance personal finance content writer with 15+ years of experience. He can be reached at LinkedIn.
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