For consumers of apparel, beauty products, and so on, Shoppers Stop and Axis Bank have partnered to launch a co-branded credit card – the Axis Bank Shoppers Stop Credit Card. The credit card offers benefits and features ranging from welcome benefits to accelerated rewards on shopping, coupled with the convenience of fuel surcharge waivers, dining privileges and many more.
“This partnership will give Axis Bank an opportunity to further tap into the burgeoning retail consumer segment and offer best-in-class payment propositions services,” said Sanjeev Moghe, President & Head- Cards & Payments, Axis Bank.
Kavindra Mishra, Customer Care Associate, Executive Director and CEO of Shoppers Stop said, “With this collaboration, we aim to redefine the shopping experience, by offering our valued customers a seamless blend of exclusive rewards, privileges and banking services. We are confident that this partnership will help elevate the shopping experience by making it more rewarding.”
What does it offer?
The cardholders will get a complimentary ‘Shoppers Stop First Citizen Club Golden Glow’ membership. Some of the privileges of being a Shoppers Stop Golden Glow First Citizen are that users can earn and redeem points on every purchase across all Shoppers Stop stores and online (1 reward point for every purchase of Rs 34), then 2 percent extra reward points on Shoppers Stop exclusive brands, exclusive sale preview days and more. Furthermore, the cardholders get complimentary Shoppers Stop vouchers worth Rs 2,250 as welcome benefits, redeemable at Shoppers Stop and Homestop.
The cardholders get accelerated benefits – up to 20 First Citizen points for every Rs 200 spent on private label brands of Shopper’s Stop. The user get to earn unlimited 12 First Citizen points for every Rs 200 spent on beauty products and other brands at Shopper’s Stop and unlimited 2 First Citizen points earned on every Rs 200 spent at other retail shops and online shopping.
Besides benefits on shopping, the cardholders get discounts on EazyDiner. The cardholders are eligible for a 15 percent instant discount on EazyDiner up to Rs 500 per month for a minimum transaction value of Rs 2,500. They also get a 1 percent fuel surcharge waiver on all fuel transactions between Rs 400 to Rs 5,000, with a max cap of Rs 400 on wavier in the statement month.
Also read | Rewards Restrictions: What does it mean for Axis Bank cardholders?
How much it costs?
The joining fee for this credit card is Rs 500 plus applicable taxes. The renewal fee is Rs 500, but it’s waived for cumulative spend of Rs 1 lakh and above. The interest charges to carry forward the outstanding balance on the credit card is 3.6 percent per month (i.e. 52.86 percent annually). The late payment fee is up to Rs 1,200, depending on the outstanding amount.
A comparison
Shopper’s Stop already has a co-branded credit card with HDFC Bank, named Shoppers Stop HDFC Bank Credit Card. As a welcome benefit, users get Rs 500 worth of Shoppers Stop voucher.
Some of the key features of this credit card are that users earn 3 percent reward points on every Shoppers Stop spend (Monthly capping of Rs 500) and on every Non-Shoppers Stop spend users earn 1 percent reward points (Monthly capping of Rs 1,000). The users get complimentary Shoppers Stop Silver Edge membership worth Rs 350.
On weekend shopping at Shopper’s Stop, the cardholders get to earn Rs 500 per month for a single purchase of Rs 15,000 or above on Shoppers Stop (capped to a maximum once in a month and five times in a year). Friday, Saturday and Sunday are to be considered as weekend.
The users also get 1 percent fuel surcharge waiver of up to Rs 250 per statement cycle, across all fuel stations in India.
The joining and renewal membership fees is Rs 299 plus applicable taxes for the Shoppers Stop HDFC Bank Credit Card.
Besides, Shoppers Stop HDFC Bank Credit Card there are other shopping credit cards offered by the banks (refer to graphic).
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