Axis Bank Rewards Credit Card Review

The Axis Bank Rewards Credit Card is a versatile card designed for shoppers who value rewards and benefits tailored to their lifestyle. Here’s an in-depth look at its features, benefits, and fees.

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Card Fees and Charges

• Joining Fee: Rs. 1,000 + GST

• Renewal Fee: Rs. 1,000 + GST

• Addon Card Joining/Renewal Fee: Nil

Welcome Benefits

• Earn 5,000 EDGE Reward Points (worth Rs. 1,000) on spending Rs. 1,000 or more within 30 days of card activation.

Reward Points Program

• Base Rewards: 2 EDGE Reward Points for every Rs. 125 spent.

• Accelerated Rewards: 10X EDGE Reward Points on every Rs. 125 spent at departmental and apparel stores.

  • Accelerated rewards apply to spends up to Rs. 7,000 per month in specific categories.

• Reward points are credited to your EDGE account. (1 EDGE Reward = Rs. 0.20)

Excluded MCCs for Reward Points:

• Transportation & Tolls: MCC 4111, 4121, 4131, 4784

• Utilities: MCC 4814, 4816, 4899, 4900

• Insurance: MCC 6300, 6381, 5960, 6012, 6051

• Education: MCC 8211, 8241, 8244, 8249, 8299

• Government: MCC 9211, 9222, 9311, 9399, 9402, 9405, 8220

• Wallets: MCC 6540

• Rent Payments: MCC 6513

• Fuel: MCC 5541, 5542, 5983

10X Rewards Categories (MCC):

• 5311: Department Stores

• 5399: Miscellaneous General Merchandise

• 5621: Women’s Ready-to-Wear Stores

• 5631: Women’s Accessories/Specialty

• 5651: Family Clothing Stores

• 5655: Sports/Riding Apparel Stores

• 5681: Furriers and Fur Shops

• 5699: Miscellaneous Apparel/Accessory Stores

• 5691: Men’s/Women’s Clothing Stores

• 5641: Children’s/Infants’ Wear Stores

Membership and Milestone Benefits

• Membership Benefit: Worth Rs. 1,000 on every card anniversary after renewal.

• Milestone Benefit: Earn 1,500 bonus EDGE Reward Points for cumulative net spends of Rs. 30,000 or more in a statement month.

Excluded MCCs for Milestone Benefits:

1. Insurance: MCC 6300, 6381, 5960, 6012, 6051

2. Wallet: MCC 6540

3. Rent: MCC 6513

4. Cash Withdrawals: MCC 6011, 6012

Additional Benefits

• Swiggy Offer: 30% instant discount on orders over Rs. 200 (max Rs. 150 per transaction, twice a month). Use code "AXIS30" at checkout.

• Lounge Access: 2 domestic lounge accesses per quarter (spend Rs. 50,000 in the last 3 calendar months for eligibility from May 1, 2024). For Lounge List Click Here

• Fuel Surcharge Waiver: 1% waiver on fuel transactions between Rs. 400 and Rs. 5,000 (max Rs. 400 per statement month). GST on fuel surcharge is non-refundable.

• Dining Delights: 15% discount (max Rs. 500) at partner restaurants.

Insurance Benefits

• Rs. 1 lakh purchase protection.

• $300 for loss of travel documents or baggage delay.

• $500 for check-in baggage loss.

• Rs. 1 lakh credit shield.

Reward Redemption

• Redeem points for vouchers or products from the EDGE Rewards platform.

• Transfer points to partner Airmiles or points programs.

• Use “Pay with Points” via SMS or online for transactions.

Fees and Other Charges

• Spend-Based Waiver: Renewal fee waived on spending Rs. 2 lakhs or more in the card anniversary year.

• Rewards Redemption Fee: None (minimum reward points required for redemption).

• Foreign Currency Markup: 3.5%.

• Interest Rate: 3.75% per month.

• Cash Advance Charges: 2.5% of the amount withdrawn (min Rs. 500).

Pros and Cons

Pros:

• Best suited for avid shoppers with 10X rewards on apparel and departmental store purchases.

• Welcome benefit of 5,000 EDGE Reward Points.

• No addon card fee.

Cons:

• No access to international lounges.

• No golf privileges.

The Axis Bank Rewards Credit Card offers great value for shoppers who spend frequently in its accelerated rewards categories. However, it’s less appealing for those seeking travel benefits or premium perks like international lounge access.