Axis Bank has launched a number of unique credit cards in India such as the Flipkart Axis Bank Credit Card. The Axis Bank Ace Credit Card is another unique credit card in India coming from the stable of Axis Bank. This review provides a thorough breakdown of the card's benefits, costs, and eligibility requirements, enabling potential cardholders to make smart choices.
Benefits of the Axis Bank Ace Credit Card
The Axis Bank Ace Credit Card is packed with customer-friendly features designed to provide real value for users.
Reward Points
The creditcard holders will get 5% cashback on bill payments (electricity, internet, gas and more) DTH and mobile recharges on Google Pay (capped at INR 500 per month).
The creditcard holders will get 4% cashback on Swiggy, Zomato & Ola. (Capped at INR 500 per month).
The creditcard holders will get 2% on all other spends (uncapped).
Dining Benefits
The creditcard holders will get up to 20%off at 4000+ partner restaurants of Axis Bank in India.
Lounge Benefits
The creditcard holders will get 4 Complimentary lounge access at select domestic airports every year.
Cons of the Axis Bank Ace Credit Card
Despite its numerous advantages, there are several elements to consider when evaluating this credit card.
Low General Cashback Rate
The card offers a low general cashback rate. This is disadvantageous for individuals who want to make this card their primary credit card for all purchases.
Limited Perks
The card offers only dining benefits and airport lounge benefits. A number of similarly situated credit cards offer a greater number of perks in comparison to Axis Bank Acr Credit Card.
Fees and Charges
Understanding the fees associated with the Axis Bank Ace Credit Card ensures users are well-prepared for all potential costs.
Joining fee: INR. 499 (reversed upon spending Rs. 10,000 within 45 days of card issuance).
Annual fee - 2nd year onward: INR. 499 ( waived off on annual spends greater than Rs. 2,00,000).
Late payment fee: charged depending on the customer’s total amount due; ranges from Rs. 0 - 1200.
Foreign Exchange Mark-up Fees: 3.5%.
Interest Rate: 3.6% per month (52.86% per annum).
Reward Redemption Fee: INR 100.
Eligibility Criteria
Before applying for the Axis Bank Ace Credit Card, individuals should familiarize themselves with the eligibility requirements designed to ensure responsible credit management.
Age Requirement
Applicants must be at least 18 years old, while supplementary cardholders must also be 18 or older.
Income Level
The Axis Bank website does not specify the minimum income criterion for the card.
Credit Score
Having a good credit score is crucial. Generally, Axis Bank looks for a score of 750 or higher, reflecting individuals' creditworthiness and financial behavior. However, for this card the Axis Bank website does not specify the minimum cibil score requirement.
Nationality
Only Indian citizens residing in India can apply for this card. Non-residents should check the availability of options suited to their status.
Final Thoughts
The Axis Bank Ace Credit Card is a good all-rounder credit card. It offers decent cashback on spends crucial for the masses such as utility. It also offers unlimited 2% cashback in general. Additionally, it provided dining benefits and airport lounge benefits too. It is an ideal credit card for freshers, youngsters and middle-class individuals in general.
Nonetheless, potential applicants should carefully consider the annual fees, cashback limits, and international transaction charges before making their decision. Understanding the eligibility criteria can facilitate a smoother application process and increase the chances of approval.
If you want to read a more detailed review of this card and find out its AI-powered unbiased rating click here.
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