Axis Bank Privilege Credit Card
Card Details
Joining Fee:
Renewal Fee:
Card Type:
Reward Type:
Welcome Benefits:
Rewards & Benefits
Welcome Benefits
On spending INR 2,000 or more in the first sixty days, the user can get 2,000 reward points.
Milestone Benefits
annual fee reversal on spending inr 1,00,000 on the card.
Cashback Rate
cashback rate: 1. cashback rate: 1. cashback rate: 0.
Lounge Access
0
Movie Benefits
8
Dining Benefits
Other Benefits
reward system: users will get 10 points for spending of every inr 150 on dining, movies, departmental stores and grocery spending. value of 1 point = inr 0. 25. effective 6%. 1 reward points on all other spend per inr 150. effective general 25%. 1 reward point of inr 100 on all other spends. effective general 16%.
Fees & Charges
Joining Fee
On spending INR 2,000 or more in the first sixty days, the user can get 2,000 reward points.
Annual Fee
annual fee reversal on spending inr 1,00,000 on the card.
Cash Advance Fee
cashback rate: 1. cashback rate: 1. cashback rate: 0.
Interest rate
0
Late Payment Fee
8
Foreign Currency Transactions Fee
Other Fees
reward system: users will get 10 points for spending of every inr 150 on dining, movies, departmental stores and grocery spending. value of 1 point = inr 0. 25. effective 6%. 1 reward points on all other spend per inr 150. effective general 25%. 1 reward point of inr 100 on all other spends. effective general 16%.
Cons
Limited value add features.
Low cashback rate.
No free movie tickets.
Welcome Benefit: Customers can earn 12,500 EDGE REWARD points, redeemable against Multi Brand vouchers worth Rs. 5000 upon payment of full joining fees.
Reward System: Users will earn 5 Axis EDGE REWARDS points on every INR100 spend with the. The value of each point is INR 0.2. The effective cashback rate is 1%.
Milestone Benefit: Upon reaching the milestone spend of INR 2.5 Lakh users can double their reward points by converting them to multi-brand coupons having double the value of their points.
Users will get 3000 EDGE REWARD points on renewal.
8 complimentary domestic airport lounge visits per year.
INR 1,000 off at partner restaurants (one time).
1% fuel surcharge refunded for fuel transactions between Rs. 400 and Rs.4000).
Rewards & Benifits
Welcome Benefits
Users will get 12,500 EDGE REWARD points as a welcome benefit.
Rewards System
Users will earn 5 Axis EDGE REWARDS points on every INR100 spend with the. The value of each point is INR 0.2. The effective cashback rate is 1%.
International Forex Markup
3.5%
Welcome Benefits and Reward System
Special Features
Upon reaching the milestone spend of INR 2.5 Lakh users can double their reward points by converting them to multi-brand coupons having double the value of their points
Eligibility Criteria
Primary cardholder should be between 18 to 70 years of age.
Add-on cardholder should be over 18 years.
Net income of Rs. 6,00,000 per annum.
Resident of India
Benefits
Complimentary airport lounge access.
Welcome benefit.
Milestone benefit.
Dining benefits.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
You can apply for the Axis Bank Privilege Credit Card online or offline. Here are the steps on how to apply online:
Go to the Axis Bank Credit Card website. Search for Privilege Credit Card.
Click on the "Apply Now" button.
Enter your personal details such as your name, email address, and mobile number.
Enter your income and employment details.
Upload a scanned copy of your PAN card and Aadhaar card.
Select the credit limit you want.
Click on the "Submit" button.
An Axis Bank representative will contact you to verify your details and complete the application process.
Contact Details
1867 419 5555 & 1860 500 5555
Account Opening and Procedure
Recommended Credit Cards
Pros:-
Change the text to include your own content. Adjust the font, size or scale to customize the style.
Cons:-
Welcome Benefit: Customers can earn 12,500 EDGE REWARD points, redeemable against Multi Brand vouchers worth Rs. 5000 upon payment of full joining fees.
Reward System: Users will earn 5 Axis EDGE REWARDS points on every INR100 spend with the. The value of each point is INR 0.2. The effective cashback rate is 1%.
Milestone Benefit: Upon reaching the milestone spend of INR 2.5 Lakh users can double their reward points by converting them to multi-brand coupons having double the value of their points.
Users will get 3000 EDGE REWARD points on renewal.
8 complimentary domestic airport lounge visits per year.
INR 1,000 off at partner restaurants (one time).
1% fuel surcharge refunded for fuel transactions between Rs. 400 and Rs.4000).
Limited value add features.
Low cashback rate.
No free movie tickets.
Axis Bank Privilege Credit Card has limited number of value add features. On top off that it also has a very low cashback rate. Wholistically the card has limited attraction in today's day and age.
Axis Bank Privilege Credit Card
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Joining fee:Rs. 1500 (Nil for Priority Customers only).
Annual fee - 2nd Year onwards: Rs. 1500.
Cash withdrawal fee from ATM - 2.5% (Min. Rs. 500) of the Cash Amount.
Late payment fee: charged depending on the customer’s Total amount due; ranges from Rs. 0 - 1200.
Fuel surcharge: 1% of transaction amount (Refunded for fuel transactions between Rs. 400 and Rs.4000).
Interest Rate: 3.40% per month (49.36% per annum).
Reward Redemption fee : INR 49 for redemption of points upto 10,000 and INR 99 above that.
Forex Charges: 3.5%.
Fuel Surcharge
Fuel surcharge: 1% of transaction amount (Refunded for fuel transactions between Rs. 400 and Rs.4000).
Billing Cycle
30 Days.