Axis Bank ACE Credit Card vs Flipkart Axis Bank Credit Card

What the numbers don't show

Both are Axis cashback cards, and both come with a spend-based fee waiver, but they suit different shoppers. ACE: ₹499 fee (waived at ₹2 lakh), 1.5% on most spends, 5% on Google Pay bill payments within a combined ₹500-per-statement cap. Flipkart Axis: ₹500 fee (waived at ₹3.5 lakh), 5% on Flipkart (₹4,000 quarterly cap), 7.5% on Myntra and 5% on Cleartrip (each with a separate ₹4,000 quarterly cap), 4% at Swiggy, and 1% elsewhere.

Worked example: if you spend ₹5,000 a month on Flipkart and ₹25,000 elsewhere, Flipkart Axis earns ₹3,000 + ₹3,000 = ₹6,000 a year, ACE earns 1.5% of ₹30,000 × 12 = ₹5,400. The Flipkart card wins narrowly, and at ₹3.6 lakh a year its ₹3.5 lakh fee waiver is just reached (ACE needs only ₹2 lakh). The break-even is when Flipkart is about one-eighth of your card spend (0.05F + 0.01(T−F) = 0.015T gives F = T/8, before the ₹500 fee); below that, ACE's higher flat rate wins.

The ₹4,000 quarterly Flipkart cap binds above ₹80,000 per quarter on Flipkart, which only sale-season heavy shoppers reach. Both cards pay nothing on fuel, rent or most bill payments outside ACE's Google Pay route.

Where each gives ground. Outside its partners, Flipkart Axis pays 1% where ACE pays 1.5%, so on ₹25,000 a month of ordinary spend the Flipkart card earns ₹3,000 a year and ACE ₹4,500; the Flipkart card has to make that ₹1,500 back at Flipkart, Myntra and Cleartrip before it breaks even. The partner list is narrower than the headline suggests: the 4% tier covers "preferred merchants" that Axis can change at its discretion, and for Swiggy only food delivery on the app counts, not Instamart or Genie (Axis cashback terms). ACE's Swiggy, Zomato and Ola 4% sits inside the same ₹500-a-statement cap as its 5% bill-payment rate, so neither card's accelerated rates are open-ended once you account for the caps.

Who each card suits. Choose Flipkart Axis if Flipkart and Myntra are where you shop most and you will reach ₹3.5 lakh a year of eligible spend, or can live with paying the ₹500 fee. Choose ACE if your spend is spread across offline stores, groceries, dining and travel, where its flat 1.5% beats the 1% base, or if you want the lower ₹2 lakh waiver and four domestic lounge visits a year. Eligibility figures for both cards come from aggregators in our data (ACE about ₹3 lakh a year; Flipkart Axis ₹15,000 a month salaried), so check Axis's own application page before you rely on either.

Figures from the issuers' own T&C/MITC as recorded on each card page (checked 30 Oct 2026); sources are listed on Axis Bank ACE Credit Card and Flipkart Axis Bank Credit Card. Estimates, not offers: terms change, so confirm with the issuer.