Axis Bank Privilege Easy Credit Card
MyRupaya Ratings
Product Details
Credit Card Name :
Axis Bank Privilege Easy Credit Card
Bank Name :
Axis Bank
Type :
Rewards Credit Card
Interest Rate :
3.40% per month (49.36% per annum).
Eligibility :
Applicant should have a fixed deposit with Axis Bank.
Minimum Fixed Deposit of Rs. 65,000; Maximum of Rs. 25,00,000.
Minors are not eligible for the card.
In addition, the Privilege Easy Credit Card cannot be issued against: Tax Saver FDs, Flexi-Deposits (Auto-sweep Fixed Deposits), Fixed Deposits in the name of HUF/society/trust/companies
Pros
Welcome Benefits: Get 12,500 reward points redeemable against shopping or travel vouchers worth INR 5,000 on payment of joining fee and undertaking 3 transactions within 60 days of card issuance.
Milestone Benefit: Customers can double the benefit upon achieving the spending milestone of Rs. 2.5 Lakhs by converting their EDGE rewards to shopping and travel vouchers worth twice the value.
Rewards: Customers can earn 10 EDGE rewards on every INR 200 spent.
Insurance benefits: Purchase Protection Plan upto Rs. 1 Lakh. Credit Shield 1 Lakh. Loss Travel Document Cover upto 300 USD. Delay in Check in baggage cover up to 300 USD. Loss of Check-In Baggage Cover upto 500 USD.
The card also offers two complimentary domestic airport lounge access per calendar quarter.
Cons
Low cashback rate.
Limited number of value add features.
No free movie tickets.
Pros & Cons
Welcome Benefits
Welcome Benefits: Get 12,500 reward points redeemable against shopping or travel vouchers worth INR 5,000 on payment of joining fee and undertaking 3 transactions within 60 days of card issuance.
Rewards System
Reward System: Get 5 Edge reward point on spending INR 100. Value of 1 Edge point: INR 0.20. Cashback Rate: 1%.
International Forex Markup
3.5%.
Welcome Benefits and Reward System
Special Features
Unique credit card offered against fixed deposit as a security.
Eligibility Criteria
Applicant should have a fixed deposit with Axis Bank.
Minimum Fixed Deposit of Rs. 65,000; Maximum of Rs. 25,00,000.
Minors are not eligible for the card.
In addition, the Privilege Easy Credit Card cannot be issued against: Tax Saver FDs, Flexi-Deposits (Auto-sweep Fixed Deposits), Fixed Deposits in the name of HUF/society/trust/companies
Benefits
Complementary access to airport lounges.
Dining benefits.
Insurance benefits
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
You can apply for the Axis Bank Privilege Easy Credit Card online or at any Axis Bank branch. Here are the steps involved in applying for the card online:
Go to the Axis Bank website and click on the "Apply for Credit Card" tab.
Select the "Privilege Easy Credit Card" and click on "Apply Now".
Enter your personal details, such as your name, address, and contact information.
Enter your income details and employment details.
Upload a copy of your PAN card and latest payslip.
Submit your application.
Axis Bank will review your application and let you know the status within a few days. If your application is approved, you will receive the card in the mail within 10-15 days.
Contact Details
1868 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 Benefits: Get 12,500 reward points redeemable against shopping or travel vouchers worth INR 5,000 on payment of joining fee and undertaking 3 transactions within 60 days of card issuance.
Milestone Benefit: Customers can double the benefit upon achieving the spending milestone of Rs. 2.5 Lakhs by converting their EDGE rewards to shopping and travel vouchers worth twice the value.
Rewards: Customers can earn 10 EDGE rewards on every INR 200 spent.
Insurance benefits: Purchase Protection Plan upto Rs. 1 Lakh. Credit Shield 1 Lakh. Loss Travel Document Cover upto 300 USD. Delay in Check in baggage cover up to 300 USD. Loss of Check-In Baggage Cover upto 500 USD.
The card also offers two complimentary domestic airport lounge access per calendar quarter.
Low cashback rate.
Limited number of value add features.
No free movie tickets.
Axis Bank Privilege Easy Credit Card is a unique credit card since it is issued against fixed deposit as a security. Consequently you can be 100% assured of its approval. The card has limited number of value add features and a low cashback rate. However, if you are looking for a beginner level credit card in order to build your credit score it can be a great stepping stone.
Axis Bank Privilege Easy 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: INR 1500.
Annual fee - Rs. 1500.
Cash Withdrawal Fee: 2.5% of the amount taken out as cash .
Late Payment Fee: Charged depending on the customer’s Total amount due; ranges from Rs. 0 - 1200 .
Interest Rate 3.40% per month (49.36% per annum).
Reward Redemption Fee: INR 100.
Forex Markup: 3.5%
Fuel Surcharge: 1%, however it is waived for transactions between Rs.400 to Rs.4000 (Capped at INR 400 per month).
Fuel Surcharge
Fuel Surcharge: 1%, however it is waived for transactions between Rs.400 to Rs.4000 (Capped at INR 400 per month).
Billing Cycle
30 days.