Samsung announces co-branded credit card in partnership with Axis Bank and Visa
Business Insider India
Samsunghas announced the launch of its co-branded credit cards in partnership with Axis Bank.
- The company has launched two credit cards – Signature and
- The company has announced a cashback of 10% on Samsung products and services on transactions done using its credit cards.
AdvertisementCo-branded credit cards have become quite popular over the years and several companies like Amazon, Flipkart, Zomato, Tata Neu among others have partnered with banks to offer their own credit cards. Now, Korean smartphone giant Samsung is now entering the Indian credit card market with its own Visa co-branded credit card in partnership with Axis Bank, one of the largest private lenders in the country.
Co-branded credit cards offer additional benefits on the company’s platform. For example, the Amazon Pay ICICI credit card offers extra cashback on all purchases on its platform. Similarly, Samsung’s co-branded credit cards offer a 10% cashback on Samsung products and services.
The Samsung Axis Bank Credit Card, powered by Visa, is our next big India-specific innovation that will change the way our customers buy Samsung products and spend on services through a series of industry-leading features. We’re excited to be able to put the control into our consumers’ hands," said Ken Kang, president and chief executive office, Samsung South-West Asia.
Samsung Signature and Infinite credit cards – joining fees and welcome benefits
Samsung has announced two credit cards in partnership with Axis Bank – Signature and Infinite. While the Signature will be the entry-level card, Infinite will be the premium offering.
Users who sign up for the Signature credit card will get 2,500 Edge rewards worth ₹500 and users who sign up for the Infinite credit card will get 30,000 Edge rewards worth ₹6,000.
While the Signature credit card has a joining fee and an annual fee of ₹500, the premium Infinite credit card has a joining fee and annual fee of ₹5,000.
Flat 10% cashback on all Samsung products and services
Samsung has announced several offers for its upcoming credit cards but the highlight of the cards is the flat 10% cashback on all Samsung products and services, including purchase of extended warranty, device repairs and Samsung Care+ purchase.
The Signature credit card will have a cashback limit of ₹2,500 per month with an annual cap at ₹10,000.
AdvertisementThe premium Infinite credit card will offer a monthly cashback of up to ₹5,000 with an annual cap of ₹20,000.
The cashback will be available across Samsung online store purchases, offline store purchases, Flipkart and Samsung authorized service centres across the country throughout out the year.
On non-Samsung spends, users will receive 5 Edge reward points per ₹100 on both Signature and Infinite cards for domestic transactions. If you use the Infinite card for international transactions, you will get 15 Edge reward points.
Apart from this, Samsung has also partnered with Zomato, Myntra, Tata 1MG, Big Basket and Urban Company to offer additional rewards. Users will receive 10 Edge rewards and 15 Edge rewards on every ₹100 spent on these platforms using the Signature and Infinite credit cards respectively.
Samsung Signature and Infinite credit card application
AdvertisementThe Samsung Signature and Infinite credit cards will soon be available. The registrations for the card are now live on Samsung’s website and the application process will begin soon.
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