By: OurMoneyGuide || Last updated on: May 9, 2024
The The Axis Bank Privilege Credit Card is a good option to earn a decent flat-rate reward rate on all your spends. It also offers lifestyle benefits like complimentary airport lounge access in India.
Best for those who like Axis Bank cards and want to earn a decent reward rate on all their card spends – you can earn 2% reward rate on hitting annual card spend target of ₹2.50 lakhs.
At ₹2.50 lakh annual card spend , you also get a card spend-based annual fee waiver.
The card also offers complimentary airport lounge access in India – 2 times per quarter. You also get an attractive welcome offer worth 5000.
You earn 10 EDGE reward points worth ₹2, on every ₹200 you spend on all card purchases (meaning you earn ₹1, on every ₹100 spent – 1% benefit).
Exceptions : No reward points are given on the following types of card spends – fuel, rent, insurance, utilities, government and educational institutions.
1 EDGE reward point = ₹0.20 or 20 paise. You can redeem EDGE reward points on Axis Bank EDGE Rewards platform for a range of gift vouchers, products, and more. You can access the Axis Bank EDGE Rewards platform through the Axis Bank EDGE Rewards Portal, mobile app, or Internet banking. Click here for more details.
Another option is to convert EDGE REWARD points into partner points at airline & hotel partners.
– 5 EDGE REWARD points = 1 partner point (at Vistara, SpiceJet, Airasia & ITC loyalty programs).
– 10 EDGE REWARD points = 1 partner point (at various other loyalty programs).
For details, please click here and refer to the column under Select & Privilege Credit Card.
Reward points are valid for 3 years.
You get double the benefit from your earned EDGE Reward points, when you reach annual spend of ₹2.5 lakhs on your card.
At ₹2.50 lakh annual spend on your card, you would have earned 12,500 EDGE Reward Points.
You can redeem these EDGE Reward Points at a special double reward rate of 1 EDGE Reward Point = 40 paise (instead of 1EDGE Reward Point = 20 paise). You can buy multi brand vouchers worth ₹5000 from these 12,500 EDGE Reward Points (@ 1EDGE Reward Point = 40 paise).
Rent and wallet transactions are not included towards reaching this annual spend target of ₹2.50 lakhs. Please click here to get more details.
To know more details on this program, please click here .
This program is offered by Axis Bank, in partnership with EazyDiner. You get a 25% discount up to ₹800 on your restaurant orders, at over 4000 restaurants nationwide. For a list of participating restaurants and more information, please visit here. Minimum order amount required is ₹2500.
Hence you get a 25% discount on orders between ₹2500 and ₹3200. On orders above ₹3200, your discount percentage falls below 25%. For example, if your order amount is ₹4000, you will get a maximum discount of ₹800 and your discount percentage would be 20%. And if your order amount is ₹1800, you get no discount since the minimum order value to avail the discount is ₹2500.
This offer can be redeemed once every month.
Other important terms and conditions of the dining program:
– Offer period : 1st July 2023 – 30th June 2024 (inclusive of both days)
– Offer applicable on booking via the Axis Bank Dining Delights Program on EazyDiner
– For escalations , you need to contact the EazyDiner concierge board number / email ID. Phone No.7861004444 , email: booking@eazydiner.com.
You enjoy various complimentary insurance benefits –
– ₹1 lakh purchase protection cover
– US$ 300 coverage for loss of travel documents
– US$ 300 coverage for check-in baggage delay
– US$ 500 coverage for check-in baggage loss
– ₹1 lakh credit shield cover
You get a 1% fuel surcharge waiver, only on fuel transactions between ₹400 and ₹4000. And on fuel purchases upto ₹40,000 per month, since the maximum waiver amount is restricted to ₹400 per monthly card statement cycle.
Please click here for all the options to contact the bank for various issues and escalations.
| Annual fee | Annual fee offers | |
|---|---|---|
| 1st year joining fee | ₹1500 | Welcome offer worth ₹5000 : You receive 12,500 EDGE reward points worth ₹5000 (in multi-brand vouchers), on your first card transaction. This first transaction needs to be done within 30 days of card issuance. |
| Renewal fee from 2nd year onwards | ₹1500 | Renewal fee offer : Annual fee is not charged from the second year onwards if you spend ₹2.50 lakhs or more in the previous year. – Rent and wallet transactions are not included towards reaching this annual spend target of ₹2.50 lakhs |
Late payment fee depends on the total payment due
| Total bill amount due | Late payment charges |
|---|---|
| Less than ₹500 | Zero |
| Between ₹501 – ₹5000 | ₹500 |
| Between ₹5,001 – ₹10,000 | ₹750 |
| More than ₹10,001 | ₹1,200 |
Foreign currency mark-up fee
3.50% of the transaction amount. This fee is charged when you use your card outside India.
Finance charges
3.60% per month
– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – Axis Bank Privilege Credit Card Fees & Charges
| Minimum income requirements | ₹6 lakhs per year |
| Minimum age | 18 years |
| Maximum age | 70 years |
| Minimum income requirements | Not specified |
| Credit score | Not specified , preferably above 750 |
| Residential status | Resident of India |
Online application processThe easiest way is to click here – APPLY NOW , you shall be taken to the card application page on the Axis Bank website. You can also visit official website of the bank and fill out the application form.
Steps :
– The bank’s website and mobile app offer a user-friendly interface that makes the application process quick and easy
– To apply, simply provide your personal details such as your mobile phone number, income, PAN number, along with the required documents
– Review your application and click submit.
– Await confirmation from Axis Bank regarding the status of your application.Offline (face to face) application processYou can visit any of the nearest branches of the bank and talk to an executive regarding the process.Approval timeline & tracking application statusThe credit card decision would be communicated within 7-21 working days, in most cases.
Please click here to track the status of your Axis Bank Credit Card application.
| Required documents | – PAN card photocopy or Form 60 – Colour photograph – Income proof : Latest payslip/Form 16/IT return copy – Residence proof (any one of the following) : Passport , Ration Card, Electricity bill, Landline telephone bill – Identity proof (any one of the following) : Passport, Driving license, PAN card, Aadhaar card Please note that this list is only indicative. Documents required may vary on a case-to-case basis. |
In conclusion, The Axis Bank Privilege Credit Card is a good choice for those who want to earn a decent reward rate on all their card spends – you can earn 2% reward rate on hitting annual card spend target of ₹2.50 lakhs. At ₹2.50 lakh annual card spend , you also get a card spend-based annual fee waiver. The card also offers complimentary airport lounge access in India – 2 times per quarter. You also get an attractive welcome offer worth 5000.
However, you could higher reward rates on your card spends with specialist cards for online shopping, travel, fuel, bill payments etc
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