Google Pay Flex Axis Bank credit card: Worthwhile addition for daily UPI users?

You earn stars on spends, with one star equal to Re 1. You'll get one star for every Rs 500 spent but you will unlock 2X (2 stars for every Rs 500 spent) in present rewards cycle on spending Rs 100 or more in the previous cycle. For instance, on spending Rs 200 in January, you will be eligible for 2X stars in February for every Rs 500 spent.

“The effective rewards rate works out to 0.2 percent. The base rate isn’t high,” said Sumanta Mandal, founder of TechnoFino, a platform that reviews debit and credit cards.

If you've unlocked 2X rewards, you can accelerate it by spending more than Rs 15,000 in the same reward period to unlock 4X (earn 4 stars for every Rs 500 spent) or spend Rs 30,000 and above for 8X (8 stars per Rs 500 spent). The effective reward rate on spending Rs 15,000 earns 0.8 percent, while Rs 30,000 takes it to 1.6 percent.

“Google Pay will credit the 4X and 8X stars directly. This is a promotional offer and may change anytime," said Mandal.

As a welcome benefit, users earn 2 stars on every Rs 500 spent in the first rewards cycle, plus a Rs 250 gift card and 250 stars on the Google Pay app. The offer is subject to Google Pay's terms.

Fees and charges

The Google Pay Flex Axis Bank Credit Card has no joining or renewal fees. You'll be charged 3.75 percent interest a month on outstanding balance and foreign transactions incur a 3.5 percent markup.

What works

This card is lifetime free, which is a positive for the users.

Flex's instant cashback feature stands out. You can redeem stars during UPI payments, and the cashback is applied immediately. “There's no wait for statement credit or reward redemption portal, removing a major credit card pain point - delayed gratification. It works naturally for UPI users,” Mandal said.

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What doesn’t work

“This is not the easiest card to understand. With multiple reward levels like 1X, 2X, 4X, and 8X stars, the structure can feel confusing at first,” said Ankur Mittal, co-founder of Card Insider, a platform that tracks credit cards.

“The base reward rate for spending on UPI is quite low (0.2 percent) when compared to competing RuPay credit cards,” said Mandal. For instance, on PhonePe HDFC Bank Ultimo Credit Card users get 1 percent rewards (up to 500 RPs/month) on all UPI transactions. Similarly, the effective reward rate on the PhonePe SBI Card SELECT BLACK for UPI transactions is 1 percent.

For users with high UPI spends, the card offers up to 1.6 percent effective returns, one of the highest on RuPay UPI transactions. "Most users don't spend over Rs 30,000 monthly via UPI, limiting the practical value of the accelerated rewards for everyday users," said Mandal.

Should you apply?

The card is a basic, entry-level option for the masses.

It's suitable for users who make frequent UPI transactions, want credit without the hassle of a traditional card and prefer straightforward rewards. It's also a good fit for daily merchants, groceries, and utility payments via UPI.

“It's not ideal for those seeking premium card benefits or high base reward rates, nor for users looking for lounge access or travel perks,” said Mandal.