IKEA Family Credit Card by Axis Bank: Higher Benefits on IKEA Spends

• 3 EDGE reward points for every Rs. 100 spent at IKEA stores, app or website
• 2 EDGE reward points for every Rs. 100 spent on dining
• 1 EDGE reward point for every Rs. 100 spent on other categories

Exclusions: Transportation & Tolls, Utility, Insurance, Educational Institutions, Government Institutions, Wallet, Rent and Fuel spends.

Reward Points Redemption

Cardholders can redeem EDGE reward points against travel bookings and purchases through the EDGE rewards catalogue. Besides this, cardholders can also redeem the accumulated reward points for IKEA in-store and online purchases.

• 1 EDGE reward point = Re. 0.20

The reward rate for IKEA and other spends on this credit card remains the same as the previous card. While this credit card offers accelerated reward points (3 per Rs. 100) on IKEA spends, the redemption value of 1 RP = Re. 0.20 is quite low. For a co-branded credit card, 0.6% return on the partnered brand is not significant. Moreover, this reward rate drops to 0.4% on dining and 0.2% on general spends. Despite being a lifetime free card, the low reward rate, especially when the reward program is its major selling point, does not lead to significant savings. Cards like IDFC FIRST Select (up to 1.66% reward rate) and American Express SmartEarn™ Credit Card (up to 5% reward rate) offer marginally better value back on popular brands and general spends as well. Also, if you prefer shopping with a specific brand, you might consider other co-branded cards like Amazon ICICI or Flipkart Axis, which offer a value back of up to 5%.

Let’s understand how much you can save in a month through this card as per the below spends:

On spending Rs. 50,000 in a month, according to the below spends, users can earn 950 reward points worth Rs. 190. IKEA Family Credit Card offers a decent reward earning rate of up to 3% on IKEA spends, but its low redemption value reduces its overall value.

*Applicable on spending Rs. 20,000 in a month.

EMI Conversion: Convert spends of Rs. 2,500 and above into EMI at an interest rate of 13% p.a. within 60 days of original spend.

Dining Benefit: Up to 15% off, max. Rs. 500 on dining spends under the Dining Delights Program.

Fuel Surcharge Waiver: 1% fuel surcharge waiver (Max. Rs. 400 per month), on fuel spends between Rs. 400 to Rs. 5,000 across all fuel stations.

IKEA Family Credit Card by Axis Bank is a co-branded credit card offering accelerated benefits on IKEA spends. However, it falls short compared to similar cards like IDFC FIRST Select or American Express SmartEarn™, with its highest reward rate being only 0.6%. Beyond reward points, the card offers limited benefits, including a fuel surcharge waiver and dining discount through the Dining Delights Program, which is standard with most Axis credit cards.

Consider this credit card if:

• You frequently shop online or in-store at IKEA
• You are looking for a credit card with minimal benefits
• You prefer to convert your purchases into EMIs
• You moderately dine out & prefer to visit partner restaurants

Consider other options if:

• You are looking for a credit card with a better reward rate
• You are ready to pay an annual fee to avail decent benefits
• You are looking for an all-rounder credit card