Axis Bank MyZone Credit Card vs. SBI SimplySAVE Credit Card
In this blog post, we embark on a comparative journey between the Axis Bank MyZone Credit Card and the SBI SimplySAVE Credit Card. Both cards boast attractive features, from cashback rewards to dining privileges, promising cardholders a seamless blend of convenience and perks. However, discerning between the two requires a closer examination of their respective benefits, fees, and eligibility criteria.
Come along as we explore the nuances of these credit cards and analyse their features to empower you to make a well-informed choice that fits your lifestyle and financial objectives. This thorough comparison seeks to untangle the subtleties and intricacies of Axis Bank MyZone and SBI SimplySAVE, directing you towards the credit card that best meets your needs—whether you're a frequent traveller, a foodie, or just looking to maximize your everyday spending.
Comparing Axis Bank MyZone and SBI SimplySAVE Credit Cards: A Detailed Analysis
Choosing the right one in the competitive world of credit cards can be daunting. Two popular options in the Indian market are the Axis Bank MyZone Credit Card and the SBI SimplySAVE Credit Card. Both cards offer a range of benefits tailored to different spending habits. Let's delve into a detailed comparison to help you decide which card might suit your needs better.
Rewards and Rewards System:
MyZone: Offers flat 4% cashback on online spending at Flipkart, Myntra, Ajio, and Swiggy. 2% cashback on all other spends. Cashback is capped at Rs. 1000 per month.
SimplySAVE: Offers reward points on spending. 10X reward points on grocery spends at supermarkets and departmental stores, 2X reward points on bill payments and utility spending, and 1 reward point on all other spending. Points can be redeemed for vouchers, cashback, or merchandise.
Welcome Benefit:
MyZone: Offers SonyLiv Premium annual subscription worth INR 999 on your first spend within 30 days of card issuance.
SimplySAVE: By spending INR 2,000 or more in the first 60 days you can get 2,000 bonus Reward Points.
Travel Benefits:
MyZone: Offers 1 complimentary domestic lounge access to selected airports in India.
SimplySAVE: No dedicated travel benefits.
Additional Features:
MyZone: Instant discount on Swiggy, Buy one get one free on movie tickets, and Shopping discounts at AJIO.
SimplySAVE: Offers fuel surcharge waiver on petrol pumps across India, and worldwide acceptance.
Fees and Charges:
MyZone: Joining fee of Rs. 500 (waived off on spending Rs. 5000 within 90 days). Annual fee of Rs. 299 (waived off on spending Rs. 10000 in a year).
SimplySAVE: Joining fee of Rs. 499 (waived off on spending Rs. 5000 within 60 days). Annual fee of Rs. 499 (waived off on spending Rs. 1 lakh in a year).
Eligibility Criteria:
MyZone: Minimum salary of Rs. 12,000 per month or net income of Rs. 1.5 lakh per annum.
SimplySAVE: Minimum salary of Rs. 20,000 per month or net income of Rs. 2.4 lakh per annum.
Which Card is Better?
It depends on your spending habits:
Choose MyZone if: You primarily shop online at Flipkart, Myntra, Ajio, and Swiggy and prefer flat cashback rewards.
Choose SimplySAVE if: You spend heavily on groceries, bill payments, and utilities and prefer reward points that offer more redemption options like travel.
The Axis Bank MyZone and SBI SimplySAVE Credit Cards offer attractive benefits but cater to different lifestyles. The MyZone card is ideal for entertainment and dining enthusiasts who prefer a card without an annual fee and enjoy online streaming services. The SimplySAVE card is more suited for those who want higher rewards on everyday expenses and are willing to pay an annual fee that can be waived with significant yearly spending.
Ultimately, the choice between the two will depend on your spending habits and preferences. Consider what you value more: entertainment perks or everyday savings, and choose the card that aligns with your lifestyle to maximize the benefits.
Conclusion
In conclusion, the comparison between the Axis Bank MyZone Credit Card and the SBI SimplySAVE Credit Card has shed light on the unique features and benefits offered by each card. While both cards offer compelling rewards and perks tailored to different lifestyles and spending habits, the ultimate choice boils down to individual preferences and priorities.
For those who prioritize flexibility and personalized rewards, the Axis Bank MyZone Credit Card stands out with its customizable MyZone feature and attractive cashback options across various categories. On the other hand, the SBI SimplySAVE Credit Card appeals to those seeking simplicity and reliability, with its straightforward cashback structure and broad acceptance network.
Regardless of which card you choose, it's essential to weigh the pros and cons carefully, considering factors such as annual fees, interest rates, and additional benefits like dining privileges and fuel surcharge waivers. By understanding your spending patterns and financial goals, you can maximize the value of your chosen credit card while minimizing unnecessary costs.
In the dynamic landscape of credit card offerings, it's essential to stay informed and adaptable, as new features and promotions may emerge over time. Whether you opt for the Axis Bank MyZone Credit Card or the SBI SimplySAVE Credit Card, remember to use your card responsibly, making timely payments and staying within your budget to reap the full benefits of your chosen card.
Ultimately, the right credit card can enhance your financial journey, offering convenience, rewards, and peace of mind. With careful consideration and informed decision-making, you can leverage the power of credit cards to unlock a world of possibilities and achieve your financial aspirations.
You can read the detailed review of credit cards Here.
FAQs
Axis Bank MyZone Credit Card
Q: What is the annual fee of the Axis Bank MyZone Easy Credit Card?
Joining fee of Rs. 500 (waived off on spending Rs. 5000 within 90 days). Annual fee of Rs. 299 (waived off on spending Rs. 10000 in a year).
Q: What is the minimum fixed deposit (FD) amount required to get the MyZone Easy Card?
The MyZone Easy Card is secured against a fixed deposit with Axis Bank. The minimum FD amount required varies, so it’s best to check with the bank for the specific amount.
Q: What is the interest rate on this credit card?
The interest rate on the MyZone Easy Credit Card is typically linked to the fixed deposit rate. It’s advisable to verify the current rate with Axis Bank.
Q: What is the value of 1 Edge Reward Point earned on this card?
For every Rs. 200 spent, you earn 4 EDGE REWARD points on the MyZone Credit Card. These points can be redeemed for various rewards; check the EDGE REWARDS Catalogue for options.
Q: Can I earn reward points on fuel transactions using the MyZone Credit Card?
No, reward points are not earned on movie, fuel, and EMI transactions. However, you can still benefit from a fuel surcharge waiver of 1%, subject to a maximum waiver of Rs. 400 per statement cycle.
Q: What discounts can I get with the MyZone Credit Card?
You can enjoy the following discounts:
Swiggy: Get Rs. 120 off on food delivery at Swiggy using coupon code AXIS120 (maximum discount per order).
AJIO: Get up to Rs. 1000 off at AJIO on minimum spends of Rs. 2999 with coupon code AJIOAXISMZ1.
Q: Is there any complimentary lounge access with the MyZone Credit Card?
Yes, you get 1 complimentary access to select airport lounges within India per calendar quarter with your Axis Bank MyZone Credit Card.
Q: Can I convert purchases into EMIs?
Yes, for any transaction over Rs. 2,500, you can contact the bank to convert a significant credit card purchase into EMIs.
Q: How secure is the MyZone Credit Card?
The card features an EMV certified chip, making it chip and PIN-Protected for unrivaled security.
Q: What other benefits does the MyZone Credit Card offer?
Apart from the above, you also get:
Buy One Get One Free on movie tickets at Paytm Movies (maximum discount per month).
Complimentary SonyLiv Premium annual subscription on your first spend within the first 30 days of card issuance.
SBI SimplySAVE Credit Card
Q: What are the reward points offered by the SBI SimplySAVE Credit Card?
The card offers 10X reward points on grocery spends at supermarkets and departmental stores, 2X reward points on bill payments and utility spends, and 1 reward point on all other spends.
Q: How can I redeem my reward points?
You can redeem your points for vouchers, cashback, or merchandise through the SBI Card website or mobile app.
Q: Is there an annual fee for the SBI SimplySAVE Credit Card?
Yes, there is an annual fee of Rs. 499. However, the fee is waived off if you spend Rs. 1 lakh or more in a year.
Q: What are the eligibility criteria for the SBI SimplySAVE Credit Card?
You need a minimum salary of Rs. 20,000 per month or a net income of Rs. 2.4 lakh per annum to be eligible.
Q: Does the SBI SimplySAVE Credit Card offer any travel benefits?
While there are no dedicated travel benefits, you can redeem your reward points for travel-related vouchers or book travel through the SBI Card website.
Q: Are there any welcome benefits offered with the SBI SimplySAVE Credit Card?
Yes, you can earn 2,000 bonus reward points on spending Rs. 2,000 within 60 days of card issuance.
Q: Is the SBI SimplySAVE Credit Card accepted internationally?
Yes, the card is a Visa card and is accepted at over 24 million outlets worldwide, excluding Nepal and Bhutan.
Q: Does the SBI SimplySAVE Credit Card offer contactless payment options?
Yes, the card is equipped with contactless technology for faster and more secure transactions at enabled terminals.
Q: Are there any add-on card options available with the SBI SimplySAVE Credit Card?
Yes, you can request add-on cards for your family members above 18 years of age.
Q: What are the charges for cash withdrawal using the SBI SimplySAVE Credit Card?
Cash withdrawal charges apply as per SBI Card's terms and conditions, which include a cash advance fee and interest on the withdrawn amount. It's generally recommended to avoid cash advances due to high costs.