Flipkart SBI Credit Card Review 2026: 7.5% Myntra, 5% Flipkart Cashback, Caps and Catches

The Flipkart SBI Credit Card is a ₹500 card that pays 7.5% back on Myntra and 5% on Flipkart. It's the same headline rate as the Flipkart Axis Bank card that shoppers have used for years.

But is it worth getting? Depends on how much you actually spend on Flipkart and Myntra, because every high-cashback bucket on this card stops at ₹4,000 a quarter. It also isn't a partner card for either of this month's big sales.

🔎 Shopping in the festive sales right now? Before you choose between this card's 5% cashback and a bank's instant discount, check Monzy's live credit card offers page. It lists current bank offers in one place, filtered by bank.

TL;DR

• Cashback: 7.5% on Myntra, 5% on Flipkart (including Shopsy) and Cleartrip, 4% at four "preferred partners" (Zomato, Uber, PVR and Netmeds) and 1% on other eligible spends.
• Caps: each accelerated bucket (Myntra, Flipkart, Cleartrip, preferred partners) is capped at ₹4,000 per quarter. The 1% base rate has no cap.
• Fee: ₹500 plus GST to join and every year after that. The renewal fee is reversed if you spend ₹3.5 lakh in a year.
• No cashback on fuel, rent, wallet loads, insurance, education, government, jewellery, gaming or any EMI transaction.
• Festive sales: it gets no instant discount in Flipkart Big Billion Days 2026 (Axis and ICICI are the partners) or in the Amazon Great Indian Festival (SBI's offer there excludes this card).
• Verdict: a solid second card if you spend ₹15,000 to ₹25,000 a month across Flipkart, Myntra and food delivery. It's almost a twin of the Flipkart Axis card, and holding both doubles your caps.

Flipkart SBI Card at a glance

SBI Card launched the card with Flipkart in August 2025. It's a Visa contactless card. The cashback is credited straight to your card account as statement credit, so there are no points to redeem and no conversion rate to worry about.

How the cashback actually works

The rates look simple, but you need to know these three rules.

1. Merchant IDs decide everything. The 7.5%, 5% and 4% rates only apply when the transaction comes through a merchant ID (MID) that Flipkart, Myntra, Cleartrip or the preferred partners have registered with SBI Card. If a partner hasn't shared the right MIDs, cashback won't accrue until it does. Paying for a Flipkart order through a third-party app or gift card also won't count.

2. The "quarter" is your own quarter, not a calendar quarter. The cap is counted from your first transaction after the account opens, through that billing cycle and the next three. It resets when your fourth bill is generated. So if your first spend is on 19 March, your first "quarter" runs to the day before your June bill, not 31 March. Track it from your statements.

3. Cashback lands two working days after the statement. It's credited on statement generation plus about two days. If you return something, the cashback on it is reversed. If you convert a purchase to EMI later, its cashback is taken back in that month.

The four preferred partners are listed on SBI Card's website as Zomato, Uber, PVR and Netmeds. But this list can change from time to time, and the 4% only applies to transactions above ₹100.

What earns nothing

Flipkart SBI Card's terms exclude these from cashback completely:

• Fuel (you get only the 1% surcharge waiver)
• Rent and property management, wallet loads, gift or prepaid card loads and voucher purchases
• Insurance, school and education payments, government transactions, jewellery and gaming
• Cash advances, balance transfers, fees and interest
• All EMI transactions, whether Flipkart's own EMI at checkout or SBI Flexipay. That can affect you during during sales.
• Bill payments made through SBI Card's own platform using standing instructions or fetch-and-pay

⚠️ Watch out: SBI's terms list wallet loads, rent and education by MCC. If a merchant is coded under one of those categories, you get 0% even if the brand feels like "shopping". Our MCC codes guide explains how to check.

The maths: how much can you really earn?

The cap is what decides whether this card is a great deal or not. Here's how much you'd need to spend in a quarter to max out each bucket:

However, most people rarely get close to hitting those caps outside of sale seasons. A realistic year for a regular online shopper looks something like this:

That's about 3.2% back overall. At ₹2.46 lakh, you're short of the ₹3.5 lakh waiver, so subtract the ₹590 renewal fee (₹500 plus GST). That leaves about ₹7,300 a year. That's very good for a ₹500 card. A big festive-season purchase can still hit the Flipkart cap in a single quarter, though. A ₹1 lakh phone earns ₹4,000, not ₹5,000.

💡 Buying something big this month? On a single big order, a bank's 10% instant discount (even capped) can beat 5% cashback, and your Flipkart cashback cap can run out. Compare what's live for your cards on Monzy's credit card offers page before you check out.

Welcome benefits and joining offers

The standard benefit is a ₹250 Flipkart e-gift voucher, sent within 60 days of paying your joining fee. The voucher is valid for a year. However, it's tied to "fee realisation." So, if your card is issued first-year-free, check whether you still qualify.

Extra benefits if you apply through the Flipkart, Myntra or Cleartrip app. SBI Card's welcome-offer terms list a few extras. To get them, you must make your first transaction on that platform within 30 days of approval.

• Applied through Flipkart: a ₹500 Flipkart e-gift card on your first Flipkart transaction ("limited period", from 12 June 2026) and a flat ₹750 Cleartrip flight coupon (offer ends 31 October 2026).
• Applied through Myntra: a ₹500 Myntra e-gift card on your first Myntra transaction (until 31 December 2026).
• Applied through Cleartrip: the ₹750 flight coupon (until 31 October 2026).

The card page sums this up as "Rs. 1,000 additional benefit on the first transaction on Flipkart". That doesn't exactly match the itemised terms, so check what the app shows when you apply. These benefits arrive 30 to 45 days after the first transaction.

Flipkart SBI vs Flipkart Axis: which one should you get?

Flipkart SBI card is almost similar to the Flipkart Axis Bank Credit Card . It has the same 7.5% on Myntra, 5% on Flipkart and Cleartrip, 4% at preferred merchants, 1% elsewhere, and the same ₹4,000 quarterly caps per bucket.

So, which one should you get?

• Pick the Flipkart Axis card if you buy big on EMI during sales. It's the only one of the two with a Big Billion Days offer, and only on EMI. Our Big Billion Days 2026 bank offers breakdown has the caps.
• Pick the Flipkart SBI card if your food and travel spending lines up with its partners. Zomato, Uber, PVR and Netmeds at 4% is a useful list for most city spenders. It's also the easier route if you already bank with SBI or hold another SBI card.
• Get both if you're a heavy shopper. Each card has its own ₹4,000 quarterly caps, so two cards give you up to ₹8,000 a quarter on Flipkart and another ₹8,000 on Myntra. That's only worth it if you regularly spend more than ₹80,000 a quarter on Flipkart.

Axis updated the Flipkart Axis card's terms on 28 August 2026. Read the current terms on Axis Bank's page before you compare the fine print.

How it does in this month's festive sales

• Flipkart Big Billion Days 2026: the bank partners are Axis Bank and ICICI Bank. The Flipkart SBI Card gets no instant discount. You still earn its regular 5% cashback, up to the cap, on non-EMI orders.
• Amazon Great Indian Festival 2026: SBI is the partner bank there, but its terms exclude the Flipkart SBI Card, along with Cashback SBI and Paytm SBI. Our Amazon Great Indian Festival 2026 bank offers guide lists the excluded cards.
• Early access: Flipkart gave early access on 8 October to "Flipkart credit card members". Flipkart doesn't spell out whether this includes Flipkart SBI cardholders, so we can't confirm it.

So, for a big sale purchase, run the numbers. On a ₹20,000 order, an Axis card's 10% discount, capped at ₹1,250 from 11 October, still beats this card's ₹1,000 cashback.

On a ₹60,000 order, the Axis base discount still stops at ₹1,250 (before any product bonus), so the Flipkart SBI card's ₹3,000 cashback can come out ahead if your quarterly cap has room.

🔎 Not sure which card wins on a specific order? Monzy's live credit card offers page shows every current bank offer by bank. Check it against the 5% you'd earn here.

The good and the not-so-good

What works

• 7.5% on Myntra matches the best Myntra rate on any mainstream Indian card, and the cashback is straight statement credit.
• The preferred-partner list (Zomato, Uber, PVR, Netmeds) covers everyday spending, not just shopping.
• Uncapped 1% on other eligible spends means the card isn't dead weight outside Flipkart.
• A low ₹500 fee (₹590 with GST) that pays for itself after about ₹12,000 of Flipkart spending a year.

What doesn't

• Every accelerated bucket stops at ₹4,000 a quarter, and the "quarter" follows your billing cycle, which makes it harder to track.
• No cashback on EMI. That hurts on expensive sale purchases, which is when you'd want it most.
• No bank discount in either Big Billion Days or the Amazon Great Indian Festival in 2026.
• No lounge access, plus a 3.5% forex markup, and a ₹3.5 lakh renewal waiver threshold that many people won't reach.

If lounge access matters to you, see our list of SBI cards with lounge access. If you want a cashback card that isn't tied to Flipkart, compare our best cashback credit cards and Cashback SBI alternatives.

Who should get the Flipkart SBI Card?

• Get it if most of your online shopping is on Flipkart and Myntra, and you order from Zomato or ride Uber every week.
• Get it as a second card next to a rewards or travel card. Use it only for its partner merchants and let the other card handle the rest.
• Skip it if you mostly shop on Amazon (the Amazon Pay ICICI card fits better), buy mostly on EMI, or want travel perks.

For the full SBI line-up, see our SBI credit cards guide. For other options, see the best credit cards for online shopping. You can also compare the card's details on Monzy's Flipkart SBI Card page.

FAQs about the Flipkart SBI Credit Card

What is the cashback on the Flipkart SBI Credit Card?

The card earns 7.5% on Myntra, 5% on Flipkart (including Shopsy and Flipkart Travel) and Cleartrip, 4% at Zomato, Uber, PVR and Netmeds, and 1% on other eligible spends. Each accelerated rate is capped at ₹4,000 a quarter. The 1% has no cap.

What is the annual fee of the Flipkart SBI Card and how do I get it waived?

The joining and renewal fees are ₹500 each, plus GST. The renewal fee is waived if you spend ₹3.5 lakh or more in the previous card year. SBI waives the joining fee on first-year-free cards during select promotional periods, so check your application screen.

Is the Flipkart SBI Card lifetime free?

No. It has a ₹500 annual fee from the second year, which is waived only if you spend ₹3.5 lakh a year. The first year may be free during SBI's promotional periods.

Does the Flipkart SBI Card get the Big Billion Days bank discount?

No. The Big Billion Days 2026 bank partners are Axis Bank and ICICI Bank. You still earn the card's regular 5% cashback on eligible non-EMI orders. Check Monzy's live credit card offers page to see which of your cards has a live discount.

Do I get cashback on EMI purchases with the Flipkart SBI Card?

No. SBI Card's terms exclude all EMI transactions, including merchant EMI at checkout and Flexipay. If you convert a purchase to EMI later, the cashback on it is reversed.

Does the Flipkart SBI Card have airport lounge access?

No. SBI Card's page for the Flipkart SBI Card lists no domestic or international lounge access.

Flipkart SBI or Flipkart Axis: which is better?

The cashback rates and ₹4,000 caps are almost the same. Flipkart Axis gets an EMI-only Big Billion Days offer and currently has a nil joining fee. Flipkart SBI's 4% partners are Zomato, Uber, PVR and Netmeds. Heavy shoppers can hold both to double the caps.

When is the cashback credited?

Cashback is credited to your card account about two working days after your statement is generated, and it appears on the next statement.

Conclusion

The Flipkart SBI Card is a well-built cashback card for one specific kind of shopper: someone who spends steadily on Flipkart, Myntra and food delivery, pays in full and doesn't use EMI. For that person, it can return ₹6,000 to ₹10,000 a year on a ₹500 fee.

Its limits are the ₹4,000 quarterly caps, zero cashback on EMI and no ongoing festive-sale discounts in 2026. If you're buying something big this month, compare this card's 5% with whatever bank discount your other cards get. Monzy's credit card offers page makes that a two-minute check.

Disclaimer

This article is for informational purposes only and doesn't constitute financial advice. Cashback rates, caps, fees and offers are based on SBI Card's Flipkart SBI Card page, terms booklet and welcome-offer terms, and Axis Bank's Flipkart Axis page, as of October 2026. They can change at any time. Read the latest MITC and offer terms on sbicard.com before you apply.