FinTown Rating:  4/ 5

Review Summary:

The Axis Bank Privilege Credit Card is one of the best travel credit cards in the market with a very reasonable annual fee of INR 1500. The annual fee is heartily compensated with an INR 5000 voucher from Yatra. Additionally, one can earn 10 rewards points for every Rs. 200 spent along with a milestone voucher of INR 5000 from Yatra. All of this together make the Axis Privilege Credit Card an excellent package for those who are looking to get an entry level travel rewards credit card.

Introduction:

Axis Bank launched this card to target the non-premium travel card segment. With its airline and spend agnostic benefits program, it is one of the few travel rewards cards that gives great value across all spend. Moreover, it has excellent benefits for airport lounges, fuel surcharge, and air insurance.

Pros:

  • Excellent Welcome Gift worth INR 5000 from Yatra
  • Milestone Gift of INR 5000 from Yatra for INR 2 Lakh spend
  • Low Annual Fee

Cons:

  • High APR at 41.75%

Card Requirements:

  • Primary cardholder between the age of 18 – 70 years
  • Net Annual Income of at least INR 6,00,000

 

Axis BankPrivilege Credit Card: Fees & Charges:

  • Annual Fee: Rs. 1500 + GST
  • Annual Percentage Rate (Annual Interest Rate): 41.75%
  • Cash Advance Fee: 3%
  • Overseas Transaction Fee: 3.5%
  • Late payment fee: INR 300 – 600 (depends on amount due)
  • Over Limit Penalty: 3% of overlimit amount

How much money will I get in rewards and cashback?

With the Axis BankPrivilege Credit Card, a card holder who spends INR 2.5 Lakhs on his/her card will be eligible for Rs. 15000 in vouchers. The rewards rate for this card will be 6% which is a great value for a card that costs INR 1500 in annual fee.

  • Activation Benefit
    • Yatra vouchers worth Rs. 5000 on swiping the Privilege Card thrice within 60 days of card issue
  • Reward Points
    • Earn 10 points on every Rs. 200 spent on the credit card
    • 10 reward points will give INR 2 in cash vouchers in multiple e-commerce portals like Amazon and Flipkart.
  • Milestone Benefit
    • Yatra Vouchers worth Rs 5,000 on the Axis Bank Edge website on minimum annual spends of Rs 2.5 lacs.
  • Annual Benefits
    • Earn 3000 eDGE Reward Points on renewal of your Axis Bank Privilege Credit Card
  • Access numerous airport lounges
    • 2 Complimentary access per calendar quarter to select MasterCard lounges with a Privilege Axis Bank Credit Card
  • Fuel surcharge
    • Fuel surcharge refund on spends at all fuel stations across India with a Privilege Credit Card from Axis Bank
      Valid on transactions between Rs. 400 and Rs. 4,000 only
  • Other Benefits
    • Air Accident Cover upto Rs. 2,50,00,000
    • Purchase Protection upto Rs. 1,00,000
    • Lost Card Liability upto Rs. 3,00,000

Which other cards should you look at?

If you are interested in the Axis Bank Privilege Credit Card, one great alternative with excellent travel rewards rate is the American Express Platinum Travel Credit Card. The AmEx Platinum Travel Card has a hefty annual fee of INR 5000 but it provides an even better rewards rate of 8.375% for those who spend more than INR 4 Lakhs on the card. The card provides an Intro bonus worth INR 4000, INR 19500 worth Indigo travel vouchers, and Taj Hotels voucher worth INR 10000 on INR 4 lakhs spend.

Final Verdict:

The Axis Privilege Credit Card might be one of the best value credit cards in its annual fee range. Except for the high APR interest rate, there is no real weakness to this card. If you want travel benefits with no restrictions on airline, this is one of the best credit cards out there. Go for it!

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