Unity Bank BharatPe Credit Card, Flipkart SBI Credit Card: Check features of new cards ahead of festive season

Credit cards: India’s credit card market is witnessing a wave of innovation as banks and fintech firms roll out new products aimed at catering to digital-first consumers. Two new launches — the Unity Bank BharatPe Credit Card and the Flipkart SBI Co-Branded Credit Card — are designed to give customers greater control over payments, along with attractive cashback and reward structures.

Unity Bank–BharatPe Credit Card

Unity Small Finance Bank (Unity Bank) and BharatPe have partnered to introduce what they call India’s first EMI-focused credit card on the RuPay network. The Unity Bank BharatPe Credit Card, developed in association with the National Payments Corporation of India (NPCI), allows cardholders to either clear dues in full or seamlessly convert transactions into equated monthly installments (EMIs) of up to 12 months.

Among its key highlights:

EMI Conversion: Big-ticket purchases can be spread across flexible repayment tenures.

Rewards on EMIs: Customers earn reward points even on EMI-linked spends, redeemable through the BharatPe app.

Zero Charges: No joining fee, annual fee, or foreclosure penalties for prepaying EMIs.

Lifestyle Perks: Complimentary lounge access (domestic and international) and preventive health check-ups.

The card can also be linked to Unified Payments Interface (UPI), making it usable at millions of offline and online merchants nationwide.

Applications are fully digital via the BharatPe app, where users can complete onboarding, KYC, and credit checks. According to Unity Bank officials, the goal is to provide “transparent, practical” payment options. BharatPe added that the integration of RuPay credit cards with UPI would expand acceptance significantly.

Flipkart SBI Co-Branded Credit Card

Meanwhile, e-commerce giant Flipkart and SBI Card have teamed up to launch the Flipkart SBI Credit Card, targeting India’s rapidly growing base of online shoppers. Available on both VISA and Mastercard, the card offers cashback-heavy rewards across the Flipkart ecosystem, including Myntra, Shopsy, and Cleartrip.

Key benefits include:

7.5% cashback on Myntra (capped at Rs 4,000 per quarter).

5% cashback on Flipkart, Shopsy, and Cleartrip spends (up to Rs 4,000 per quarter).

4% cashback on brands like Zomato, Uber, Netmeds, and PVR.

1% unlimited cashback on other eligible transactions.

1% fuel surcharge waiver, capped at Rs 400 per statement cycle.

The card carries a joining and annual fee of Rs 500 + GST, but users can enjoy a renewal fee waiver on annual spends of Rs 3.5 lakh. New customers also receive welcome benefits worth Rs 1,250. Cashback is automatically credited to the cardholder’s account within two days of statement generation, ensuring a hassle-free experience.

To mark the launch, Flipkart and SBI Card are also running a promotional offer where applicants stand a chance to win Samsung Galaxy Smartwatches and Ambrane wireless power banks daily.

Savings potential

For frequent online shoppers, the card can deliver significant value. Take, for example, a young professional who spends around ₹15,000 monthly on Flipkart, ₹8,000 on Myntra, ₹20,000 quarterly on Cleartrip, ₹4,000 on Zomato/Uber, and ₹10,000 on miscellaneous categories. With the Flipkart SBI Card, their annual cashback could exceed ₹23,000, even after accounting for the joining fee.

Who can benefit?

Unity Bank BharatPe Credit Card: Ideal for consumers looking for flexibility in managing high-value purchases through EMIs without hidden charges.

Flipkart SBI Card: Best suited for digital-first families and individuals who regularly shop, travel, and dine through the Flipkart ecosystem and partner brands.

Both products, however, come with caveats. The Unity Bank card does not emphasize cashback outside of EMI spends, while the Flipkart SBI Card carries a 3.5% forex markup, making it less attractive for international travelers.