An exclusive Visa credit card co-branded by Samsung and Axis Bank has been introduced in the Indian market. Those who use the Samsung Axis Bank Credit Card can receive 10% cashback on all Samsung products and services. In addition to the previously existing Samsung discounts, the Samsung Axis Bank Credit Card will offer 10% cashback on both EMI and non-EMI transactions.
The three companies acknowledged at the launch that most credit card users in India use their cards primarily for electronic purchases, which motivated the creation of this co-branded credit card. Customers who purchase new Samsung smartphones, tablets, laptops, TVs, refrigerators, air conditioners, washing machines, and services like Service Center payments, Samsung Care+ mobile protection plans, and extended warranties will receive 10% cashback on their purchases with the new Samsung Axis Bank Credit Card.
The card is available in two versions: Visa Signature and Visa Infinite. Holders of the Signature version of the card will be eligible for a monthly cashback of ₹2,500 and a yearly cashback of up to ₹10,000. Cardholders with the Infinite variant will receive up to ₹20,000 cashback annually and ₹5,000 cashback monthly. Additionally, the card will offer dining discounts, free access to airport lounges, and waivers on fuel prices.
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Both cards attract annual fees; the Signature card costs ₹500 plus taxes, while the Infinite card costs ₹5000 plus taxes annually. Although the applications for the card have not yet been launched, customers can fill a form to be notified of the applications on the Samsung website.