MakeMyTrip and Travel-Booking Cashback in India

The travel-booking landscape

The major Indian online travel agencies (OTAs) are MakeMyTrip (MMT), Cleartrip, Yatra, and Goibibo (now merged with MMT). Each has its own co-brand credit card or co-marketing partnerships.

The cards that reward travel bookings:

• Flipkart Axis: 5% on Cleartrip (capped ₹500/cycle).
• MakeMyTrip ICICI Signature: co-brand card with MMT-specific benefits.
• MakeMyTrip ICICI Platinum: lower-tier co-brand.
• Axis Atlas: 5 EDGE Miles per ₹100 on travel MCCs (4511, 4112, 7011).
• HDFC Diners Club Black / Infinia: 10X on SmartBuy flights + hotels.
• Amex Platinum Travel: 5 MR per ₹100 on travel.
• SBI Card Elite: travel-specific rewards.

MakeMyTrip ICICI Signature

A co-brand card with MMT, issued by ICICI Bank.

• Annual fee: ₹2,500 (waived on ₹5L spend).
• Welcome benefit: ₹5,000 MMT voucher on first spend of ₹1L in 90 days.
• Rewards: 6 reward points per ₹200 on MMT bookings (3% of spend); 2 points per ₹200 elsewhere (1%).
• Vouchers: Annual MMT voucher of ₹5,000 on milestone of ₹5L spend.

The card is well-suited for heavy MMT users. The 6 points per ₹200 on MMT = 3% on MMT bookings. Plus the welcome and milestone vouchers add value.

Cleartrip via Flipkart Axis

Flipkart Axis earns 5% on Cleartrip (capped ₹500/cycle across all 5% categories).

• Effective return: 5% on the first ₹10,000 of Cleartrip spend per cycle.
• Annual fee: ₹500 (waived at ₹1L spend).

For occasional Cleartrip users, Flipkart Axis is the right card. For heavy users, the ₹500 cap is restrictive.

Axis Atlas for travel

Axis Atlas earns 5 EDGE Miles per ₹100 on travel MCCs (airlines, hotels, dining). The effective return depends on the redemption:

• Statement credit: ₹1 per mile = 5%.
• Transfer partners (Air India, Singapore KrisFlyer): ₹1.5–₹2 per mile = 7.5%–10%.

Atlas's 5 EDGE Miles on travel is uncapped. The milestone bonuses (2,500 at ₹2L, 5,000 at ₹4L) add to the value.

HDFC Diners Club Black / Infinia for SmartBuy

HDFC's premium cards earn 10X on SmartBuy portal spend (flights, hotels). On ₹1 lakh of SmartBuy spend, you earn ₹1,00,000 worth of reward points (redeemable at ₹1 each via SmartBuy).

The effective return: 5% on SmartBuy flights and hotels (10X / 2 base) + 5% baseline on retail = 5% on SmartBuy specifically.

The 0% forex markup is the killer feature for international travel.

Amex Platinum Travel

Amex Platinum Travel earns 5 MR per ₹100 on travel. With the welcome bonus of 10,000 MR (₹15,000–₹20,000 value) and the Taj/Singapore KrisFlyer transfer partners, the card has high ceilings.

The 2% forex markup is the gap vs HDFC premium cards.

A worked example: ₹5 lakh annual travel spend

You spend ₹5L/year on travel: ₹2L on flights, ₹2L on hotels, ₹1L on miscellaneous.

Flipkart Axis for all Cleartrip travel

• ₹5L × 5% capped ₹500/cycle × 6 cycles = ₹3,000. Cap is binding.

Axis Atlas

• ₹5L × 5 EDGE Miles / 100 = 25,000 EDGE Miles.
• Redeemed at ₹1.5/mile average: ₹37,500.
• Plus milestone bonuses: 5,000 EDGE Miles at ₹4L travel spend.
• Total: 30,000 EDGE Miles × ₹1.5 = ₹45,000.
• Effective return: 9%.

HDFC Diners Club Black (SmartBuy + 0% forex)

• Flights via SmartBuy: ₹2L × 5% (10X / 2 = 5%) = ₹10,000 in points.
• Hotels via SmartBuy: ₹2L × 5% = ₹10,000.
• Other travel: ₹1L × 3.33% = ₹3,333.
• Plus milestone bonus (10,000 at ₹5L spend): ₹10,000.
• Total: ₹33,333.
• Effective return: 6.67%.
• Plus forex saving on international (assume 50% international): 0% markup vs 2% on regular = 1% saving on ₹2.5L = ₹2,500.
• Total: ₹35,833.
• Effective return: 7.17%.

Amex Platinum Travel

• ₹5L × 5 MR / 100 = 25,000 MR.
• Welcome bonus (assumed year 2+, so no welcome): 0.
• Milestone bonuses (10,000 at ₹5L, ₹5,000 at ₹5L spend): 15,000 MR.
• Total: 40,000 MR.
• Redeemed at Maharaja Club transfer at ₹1.5/point: ₹60,000.
• Plus ₹5,000 Taj voucher at ₹5L spend: ₹5,000.
• Total: ₹65,000.
• Effective return: 13%.
• Minus 2% forex on international (assume 50%): ₹5,000.
• Net: ₹60,000.
• Effective return: 12%.

Amex Platinum Travel wins on transfer-partner redemption. Axis Atlas wins on no-cap uncapped earn. HDFC DCB wins on 0% forex markup + SmartBuy.

The right card for your travel pattern

Heavy international travel (4+ trips)

• HDFC Diners Club Black or Infinia. The 0% forex markup + SmartBuy + transfer partners = best overall.
• Amex Platinum Travel as backup if you value Taj stays.

Heavy domestic travel via MMT

• MakeMyTrip ICICI Signature. The 3% on MMT + welcome + milestone vouchers = highest direct return.
• Backup: Flipkart Axis for Cleartrip.

Light to moderate travel (1–2 trips/year)

• Axis Atlas. The 5 EDGE Miles uncapped is sufficient.
• Or just use existing cards (Amazon Pay ICICI, HDFC Millennia) at the 1%–2% baseline.

The bottom line

For 2026, the right travel card depends on your pattern. Axis Atlas wins for moderate spenders who want uncapped earn. HDFC Diners Club Black wins for international-heavy travellers who value 0% forex. Amex Platinum Travel wins for transfer-partner optimisers. Flipkart Axis wins for Cleartrip users. MakeMyTrip ICICI Signature wins for MMT loyalists. The annual savings on ₹5L of travel spend: ₹30,000–₹60,000 with the right card. The card pays for itself in 1–2 trips.