Executive Summary: E-commerce organizations are offering credit cards. Is it worth getting one of these? Here is a comparison of Paytm’s First Card, Flipkart’s credit card and Ola Money Card.
The big brands of new businesses are highly competitive. They look at different avenues to increase revenues and customer base. In the quest to be numero uno in payment solutions, Amazon, Flipkart and Snapdeal had already launched their credit cards. Now Paytm, Flipkart and Ola have jumped on the bandwagon and launched their own credit cards .
Here is a comparison of the two credit cards – Paytm First Card, Flipkart Card and Ola Money Card
Here is a comparison of the two credit cards – Paytm First Card, Flipkart Card and Ola Money Card
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Details
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Ola Money Card
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Flipkart Card
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Paytm First Card
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Bank and Payment Network
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Launched in association with SBI Bank and Visa
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Launched in partnership with Axis Bank and Mastercard
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Launched in association with Citi and Visa
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Joining Details
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Click here to show interest in getting the card to apply for it.
There is no mention of the card on the SBI website. No joining fees Annual Fees – ₹ 499 (waived with a spend on ₹ 1,00,000 or more) |
Joining Fees – ₹ 500 (waived with a spend on ₹ 2,00,000)
Annual Fees – ₹ 500 from 2nd year. You can apply online via the Axis bank website or register interest for it on Flipkart or call customer care |
Apply via Paytm app
Annual Fee – ₹ 500 (waived if ₹ 50,000 spent in the year) |
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Benefits
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₹ 500 as Olamoney, ₹ 300 worth Cleartrip voucher and offer on dine-out options available till 15th September, 2019
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You get a Flipkart Voucher of ₹ 500 on acquiring the card
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Paytm promo-codes worth Rs 10,000 on a minimum spend of Rs 10,000 within first four months of issuance
Paytm First membership benefits free for the first year Citibank offers such as 15% discount in partner restaurants, 2 movie tickets for price of 1 and other offers. |
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Cashback
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7% on Ola rides
5% on flight bookings and 20% on hotel bookings on Cleartrip 1% on other spends Money will be credited to Ola Money wallet |
5% on Flipkart, Myntra spends
4% on MakeMyTrip, Goibibo, Uber, PVR, and UrbanClap spends 1.5% with other merchants |
1% on all spends
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Lounge Access
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None
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4 complimentary lounge visits within Indian airports
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None
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Verdict
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If you are a newbie to credit cards and use OlaMoney, it is a good card to acquire. There is no joining fees.
It is not clear how easy or difficult it is to get this card. There is no lounge access and the 1% cashback is less as compared to other credit cards. |
Good card for Flipkart customers and regular credit cards users. A better option as compared to other cards from Axis bank. It also gives lounge access which is not given by the other two cards compared here.
There were issues with getting a card in the initial days of the launch. All benefits have certain terms and conditions. |
If you use Paytm for your transactions, it is a good card to have.
The promo-code and cashback is given as a chunk for specified transactions on a monthly basis. So you might have to wait before redeeming them. |
Do you use credit cards? Have you used credit cards issued by e-commerce companies. Let us know your experience.
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