There are more than 20 credit cards in India currently launched by airlines in collaboration with banks or credit cards. Axis Bank Miles and More World Select Credit Card is on such credit card launched by Lufthans in collaboration Axis Bank. In this review dives into its features, advantages, disadvantages, eligibility requirements, fees, and more, helping you make an informed decision.
Overview of the Axis Bank Miles And More World Select Credit Card
The Axis Bank Miles And More World Select Credit Card is tailored for customers who frequently travel. By collaborating with the Miles & More loyalty program, it helps cardholders earn miles that can be redeemed for flights, upgrades, and various travel-related purchases. Each spend packs value, turning everyday expenses into remarkable travel opportunities.
Key Benefits of the Card
This credit card has several appealing features for travelers to consider:
1. Reward Miles Accumulation
Creditcard holders get 3 miles on spending INR 100 on all spends excluding EMI, wallet recharge, cash withdrawal, etc. These miles can't be converted into cash directly but can be used to book flights with partner airline companies. Value of 1 mile will depend on the flight being booked by you. You can also use miles for booking hotels, rent cars, and shopping at select partner stores.
2. Complimentary Airport Lounge Access
Travelers can enjoy complimentary access to over 100 domestic airport lounges. This benefit enhances comfort before flights and is especially valuable for long wait times or layovers. A typical lounge visit could cost around ₹2,000 if paid at the door, making this perk a notable saving. Users get 4 free international lounge visits every year and 8 free domestic lounge visits every year.
3. Instant Miles Redemption
With instant redemption options available, users can quickly convert accumulated miles into flight bookings or hotel stays. This flexibility means you don't have to wait for long to enjoy the fruits of your spending.
4. Additional Bonuses and Offers
Users get 4,000 miles on renewal every year users also get bonus 36,000 miles on spend of INR 1,00,000 every month.
Drawbacks to Consider
While this card has notable perks, you should be aware of its drawbacks:
1. High Joining Fee
With a joining fee INR 10,000, some potential users might hesitate, especially if they do not utilize travel benefits frequently.
2. Limited Non-Travel Benefits
This card may have limited appeal to individuals who do not travel frequently. The reason behind that is the card offers limited perks to individuals who are interested in non-travel luxuries such as free movie tickets.
3. Complexity of Redemption
Though miles can be redeemed for various travel-related services, the process can sometimes be intricate, requiring navigation through multiple platforms. This may frustrate users who prefer simplicity in redeeming rewards.
Essential Eligibility Criteria
To be eligible for the Axis Bank Miles And More World Select Credit Card, here are the key requirements:
1. Age
Applicants must be between 21 and 65 years old to qualify for this credit card.
2. Income
The Axis Bank website does not specify the minimum income/criterion.
3. Credit Score
A credit score above 750 is recommended. This score reflects a good repayment history, which the bank assesses to determine creditworthiness.
Understanding Fees and Charges
Joining Fee: INR 10,000 + GST.
Annual Fee -From 2nd year: INR 4,500 + GST.
Late Payment Fee: charged depending on the customer’s Total amount due; ranges from Rs. 0 - 1200.
Cash Withdrawal Fee: 2.5% of the amount taken out as cash.
Interest Rate: 3.40% per month (49.96% 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).
Simple Application Process
Applying for the Axis Bank Miles And More World Select Credit Card is easy:
1. Online Application
Prospective users can fill out an application form directly on the Axis Bank website or mobile app.
2. Documentation
Basic documents needed include proof of identity, residence, and income.
3. Verification
The bank will verify the submitted information, followed by approval depending on eligibility.
Target Audience and Popular Usage Scenarios
This credit card is designed primarily for frequent travelers. Here are a few scenarios where this card shines:
1. Regular Flyers
Individuals who fly monthly can collect miles quickly, turning expenses into remarkable travel experiences.
2. Business Travelers
Business travelers can leverage the card for significant miles accumulation while on work trips, enhancing their leisure travel options later.
3. Vacation Planners
Families and individuals planning trips can use the card for major expenses, leading to rewarding travel perks for future holidays.
Conclusion on the Axis Bank Credit Card
The Axis Bank Miles And More World Select Credit Card is a decent credit cards, especially for individuals who do international travel frequently. However, individuals who do not travel frequently may find this card lacking.
Before applying, it is wise for individuals to weigh the card’s advantages against their spending habits and travel patterns. If you travel frequently and can capitalize on its benefits, applying for this credit card could enhance your travel experiences significantly.
You car read a more detailed review of this card and our rating of this card here.
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