Axis Ace Credit Card is a very good entry level credit card. You earn unlimited 2% cashback on all purchases, 5% special cashback on various utility payments on the Google Pay App, and 4% special cashback on specific food delivery (Zomato and Swiggy) and local transportation (Ola) purchases.
Cashback credit cards are popular since the benefits are easy to understand, they pay you back ₹, which are credited to your credit card statement.
Brief Summary
Our View :
Best for paying various kinds of bill payments , you get 5% cashback on utility bill payments, DTH & mobile recharge – on Google Pay App. You also get 4% cashback on Swiggy, Zomato & Ola. Maximum cashback in these 2 categories (5% & 4% cashback categories) is capped at ₹500 per month.
The card also offers 2% unlimited cashback on all spends, which is a good reward rate if you do not want to carry multiple cards , since most higher reward cards give higher benefit rates only on a certain category/ only on certain merchants.
The card offers complimentary lounge access in India (maximum 1 time per calendar quarter).
The annual card spend target to get annual fee waived off (from 2nd year onwards) is on the higher side – ₹2 lakhs, but if you use this as your single all-rounder card , then this is not very difficult to achieve. The 1st year annual fee is covered by welcome offer worth ₹500.
Axis Bank Ace Credit Card
Special Benefits
5% cashback on utility bill payments, DTH & mobile recharge – on Google Pay App
Other Benefits
4% cashback on Swiggy, Zomato & Ola
Minimum Income
Not specified
Annual Fee
₹ 499
Annual Fee Offers
Welcome offer worth ₹ 499
Renewal fee waived off at ₹2 lakhs annual card spend
Axis Bank Ace Credit Card : Summary Table
| – 5% cashback on utility bill payments, DTH & mobile recharge – on Google Pay App – 4% cashback on Swiggy, Zomato & Ola | You earn ₹5 , on every ₹100 you spend on – – utility payments (electricity, water, gas, LPG and broadband) – DTH – mobile recharge (through the Google Pay app) You earn ₹4, on every ₹100 you spend on – – Food ordering (Swiggy & Zomato) – Ridesharing (Ola) Restrictions : – maximum cashback in the above 2 cashback categories (5% category & 4% category), is restricted to ₹500 , per monthly card statement cycle. – so you can spend between ₹10,000 – ₹12,250 per month in the these 2 cashback categories and get special cashback benefit – for example if you spend only in the 5% cashback category, then you will get 5% cashback on spends upto ₹10,000 per monthly card statement cycle. |
| 2% unlimited cashback on all other spends | You earn ₹2 , on every ₹100 you spend on all other purchases. Exceptions : Cashback shall not be given the following credit card spends – fuel spends, EMI transactions, purchases converted to EMI post facto, wallet loading transactions, cash advances, rental payment, purchase of gold/jewellery items, insurance premium payments, payment of outstanding balances, payment of card fees and other card charges, educational services. Please click here for full details – Axis Ace terms and conditions |
| Complimentary airport lounge access in India | You get free visits to airport lounges in India – upto 4 times per year. For list of lounges and other details, please click here . |
| 1% fuel surcharge waiver | Fuel surcharge waiver at all fuel stations on – all fuel purchases between ₹400 and ₹4,000 AND – only on upto fuel purchases of ₹50,000 per month (since the maximum waiver amount is ₹500 per monthly card statement cycle) |
| Dining benefits : – 15% discount at restaurants, in partnership with EazyDiner | – You get a 15% discount up to ₹500 , at over 4,000 restaurants nationwide. Minimum order amount of ₹2,500. – Hence you get a 15% discount on orders between ₹2,500 and ₹3,333. On orders above ₹3333, your discount% falls below 15% since the maximum discount is fixed at ₹500 – This offer can be redeemed once every month. |
| ₹499 Annual fee | The Axis Bank Ace credit card has an annual fee of ₹499 Annual fee related offers Welcome offer : 1st year annual fee is reversed , upon spending ₹10,000 within 45 days of card issuance Renewal offer : Annual fee is not charged from the 2nd year onwards, if you spend ₹2,00,000 or more in the previous year. Hence the card is virtually free if you spend ₹2,00,000 or more annually. |
Pros and Cons of Ace Credit Card
Pros
- 2% on all purchases makes it a great credit card for those who are looking for simplicity of benefit structure, and want a great all round credit card (instead of managing multiple cards to maximize benefits on various purchase categories)
- Very good cashback rate of 5% on a variety of bill payments through Google Pay App (electricity, water, gas, LPG, broadband, DTH and mobile recharges)
- 4% special cashback rate on specific food delivery & ridesharing purchases (Swiggy, Zomato and Ola).
- Upto 4 free visits per calendar year (once per calendar quarter) , to airport lounges in India – which is not very common for entry level cards with similar low annual fee
- Attractive dining program in partnership with EazyDiner – 15% discount on dining purchases , 2 times per month.
Cons
- While 2% is a good cashback rate on all purchases, one can earn higher reward rates by getting multiple cards which give higher reward rate on popular purchase categories like online purchases, travel, fuel etc.
- The annual credit card spend target (₹2,00,000) to get waiver of renewal fees is high. However the good all round cashback rate of 2% on all purchases makes up, since one can use this credit card for most of your monthly spends, if you are not keen on holding multiple specialist cards.
Comparing with Competitor Fuel Credit Cards
| Features |
Axis Bank Ace Credit Card
Our Rating
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|
Amazon Pay ICICI Bank Credit Card
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Flipkart Axis Bank Credit Card
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HDFC Millennia Credit Card
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|---|---|---|---|---|
| Cashback Rates | 2% – 5% |
1% – 3% |
1.5% – 5% |
1% – 5% |
| Other benefits | Fuel Surcharge Waiver | Fuel Surcharge Waiver | Fuel Surcharge Waiver | Fuel Surcharge Waiver |
| Annual Fee | ₹499 |
No Annual Fees |
₹500 |
₹1,000 + Applicable Taxes |
| Annual Fee Offers | Annual Fee waived off on annual spends greater than ₹. 2,00,000 | – | Annual Fee waived off on annual spends greater than ₹. 2,00,000 | Annual Fee Reversal on meeting ₹1,00,000 spends |
| Minimum Income | Not Specified |
Not Specified |
Not Specified |
Not Specified |
Full Review : A Detailed Look at the Credit Card
Features & Benefits of the Axis Bank Ace Credit Card
5% special cashback on utility bill payments (through Google Pay app) & 4% special cashback on Swiggy, Zomato & Ola payments
Earning & redeeming cashback :
– You earn ₹5 (as cashback) , on every ₹100 you spend on monthly bill payments (electricity, water, gas, LPG, broadband), DTH and mobile recharges through Google Pay
– You earn ₹4 , on every ₹100 you spend on Swiggy, Zomato & Ola. For example, if you make a purchase of ₹1,000 on Zomato, you will get cashback of ₹40
– From June 15 2023, the maximum total cashback that you can earn in the 5% & 4% cashback categories , is limited to ₹500 per month. For example, if you use your card to make only utility bill payments on Google Pay, then you will get 5% cashback on maximum bill payments of ₹10000 per month, since the maximum cashback is restricted to ₹500 per monthly card statement cycle.
– Cashback will be paid towards your next monthly credit card bill, 3 days before the next monthly card bill is generated
– Rewards on particular purchase categories is governed by MCC Codes – how the merchants are registered with various payment networks like Visa, Mastercard etc . Cashback for transactions in the 5% and 4% categories (Accelerated cashback) will be calculated based on Merchant IDs (MIDs) shared by the merchants.
2% cashback on all other purchases
Earning & redeeming cashback :
– You earn ₹2 , on every ₹100 you spend on all other purchases. For example, if you make a purchase of ₹1,000 on Amazon, you will get cashback of ₹40.
– There are no monthly spending limits to earn this 2% cashback.
– Cashback will be paid towards your next monthly card bill , 3 days before the next monthly card bill is generated
Exceptions & important terms & conditions : Spends on which no cashback is given –
– Fuel purchases
– Wallet load transactions
– Rent payments and property related payments – property management fees, rental commissions etc
– Jewelry & related payments : jewelry, silverware, watch, clock related payments
– Insurance payments
– Non customer initiated debits like annual fee and other fees
– Returns, refunds & cancellations
Dining Delights program – upto 15% discount at participating restaurants
This program is offered by Axis Bank, in partnership with EazyDiner. You get a 15% discount up to ₹500 on your restaurant orders , at over 4,000 restaurants nationwide. Minimum order amount required is ₹2,500.
Hence you get a 15% discount on orders between ₹2,500 and ₹3,333. On orders above ₹3333, your discount% falls below 15% since the maximum discount is fixed at ₹500. For example, if your order amount is ₹5000, you will get a maximum discount of ₹500 and your discount % would be 10%. And if your order amount is ₹2,000 , you get no discount since the minimum order value to avail the discount is ₹2,500.
This offer can be redeemed once every month.
For a list of participating restaurants and more information, please visit here.
Other Important Terms and conditions of the dining program :
– Offer Period: 1st July 2023 – 30th June 2024 (inclusive of both days)
– Offer applicable on booking via the Axis Bank Dining Delights Program on EazyDiner
– For escalations , you need to contact the ED Concierge Board Number / Email ID. Phone No.7861004444 Email: booking@eazydiner.com.
Other Cardholder Benefits
| 1% fuel surcharge waiver | Applicable fuel stations and brands : Fuel surcharge is applicable at all petrol stations. Restrictions : – Fuel transaction limit : Applicable only on fuel transactions between ₹400 and ₹4,000 only, AND – Monthly fuel spend limit : Applicable only upto a maximum of ₹50,000 fuel spend per month (since the maximum waiver amount is ₹500 per monthly card statement cycle) – Both the above conditions need to be met to avail fuel surcharge waiver |
| 24/7 customer support | Please click here for all the options to contact the bank for various issues and escalations |
| Security features | Chip and PIN technology – security for offline transactions : In the past, credit cards typically used a magnetic stripe located on the back of the card to store and transact data. However, the latest generation of credit cards includes a CHIP and PIN feature, which provides enhanced security. Only you know your PIN, so even your card is lost it is unlikely to be misused since BOTH the physical card and the PIN is required to spend on the card Two-factor authentication – security for online transactions : When making an online transaction, you approve your online transaction through using a One-time Password (OTP) which you get on your mobile phone . Since only you know the OTP, the card is unlikely to be misused unless someone has access to BOTH your card details AND your mobile phone. This ensures a safe online purchase experience. SMS alerts and notifications – for both offline and online transactions : For your peace of mind, you get free SMS alerts and notifications for all your credit card transactions. Hence you will know about all transactions on your card. In the unlikely scenario of your card being misused, you would still get these alerts and notifications – which will help you to immediately block your credit card. |
Card Fees and Charges
Annual fee & annual fee related offers
| Annual fee | Annual fee related offers | |
|---|---|---|
| 1st year joining fee | ₹499 | Welcome offer : Joining fee is reversed once you spend ₹10,000, within 45 days of card issuance date |
| Renewal fee from 2nd year onwards | ₹499 | Renewal fee offer : Renewal fee is not charged from the second year onwards , if you spend ₹2,00,000 or more in the previous year (Rent transactions and wallet load transactions will not be considered as eligible spends , towards availing this annual fee waiver) Hence the card is virtually free if you spend ₹2,00,000 or more each year. |
Late payment fee
Please see below table
| Pending card statement amount | Late fee |
|---|---|
| Less than ₹500 | NIL |
| ₹501 to ₹5000 | ₹500 |
| ₹5001 to ₹10,000 | ₹750 |
| ₹10,001 and above | ₹1200 |
Foreign currency markup fee : 3.5% of the transaction value.
Finance charges : 3.6% per month
Please note
– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – Axis Bank Ace Card Fees & Charges
Eligibility Criteria
Although your credit card eligibility is based on multiple parameters which can be assessed once you apply for an Axis Bank Ace Credit Card, there are certain basic criteria that all applicants must fulfil.
| Minimum age | 18 years |
| Maximum age | 70 years |
| Occupation | Salaried or self employed (minimum income not specified by the bank) |
| Minimum income | Not specified, should have stable income |
| Other criteria | – Good credit score, preferably over 750 – The individual should be a resident of India |
Application Process
Step-by-step guide to applying for the card
| Online application process | The easiest way is to click here – APPLY NOW , you shall be taken to the card application page on the Axis Bank website. You can also visit official website of the bank and fill out the application form. – The bank’s website and mobile app offer a user-friendly interface that makes the application process quick and easy – To apply, simply provide your personal details such as your mobile phone number, income, PAN number, along with the required documents – If you are a new customer, the card limit will be fixed based on your income. |
| Offline (face to face) application process | You can visit any of the nearest branches of the bank and talk to an executive regarding the process. To find the branch nearest to you, visit here. |
Necessary documents and verification
| Required documents | – PAN card photocopy – Colour photograph – Income proof : Latest payslip/Form 16/IT return copy – Residence proof (any one of the following) : Passport , ration card, electricity bill, landline telephone bill – Identity proof (any one of the following) : Passport, driving license, PAN card, Aadhaar card Please note that this list is only indicative. Documents required may vary on a case-to-case basis. |
Choosing the right card for your needs
As you have seen, the best cashback card depends on your personal circumstances. Some of the main points you should look at are –
| Are you eligible for the card | While some banks do not disclose all of their approval criteria, we have given you a rough guide on how the process works. Your income, stability of income, credit scores (repayment history, length of repayment history, credit utilization), and past relationship with the bank are some critical factors that play a role. |
| Your monthly spends / Are you comfortable having more than 1 card ? | Credit cards normally have certain promotion categories on which they give higher benefits, compared to their normal rewards rate. While Axis Bank Ace has 2 promoted categories (bill payments & certain food delivery and ridesharing merchants), it also gives a relatively high all round cashback rate of 2% on ALL purchases. You can get higher than 2% if you hold multiple cards since each card will have a different promotion category like online shopping, travel, fuel etc. However many people may prefer to hold one good all round card instead of tracking multiple cards, or may find it difficult to qualify for multiple cards. For them Axis Bank Ace is one of the best cards in the market. |
| Annual fees | Credit cards often charge an annual fee for holding the credit card. But many also offer attractive incentives like welcome and renewal offers, which often make these cards virtually free. Axis Ace has an attractive welcome offer wherein 1st year annual fee is reversed once you spend ₹10,000 (within 45 days of card issuance). Though the annual credit card spend target (₹2,00,000) to get waiver of renewal fees is high, the good all round cashback rate of 2% on all purchases makes up. Since you can use this credit card for most of your monthly spends, if you are not keen on holding multiple specialist cards. |
Once you look at the above factors in detail, you should be able to decide if this is the right card for you.
Conclusion
As you can see, your personal circumstances would dictate the best credit card for you. Axis Bank Ace Credit card is a great all round cashback card option, which also offers attractive rewards on bill payments on Google Pay App, and certain food delivery & local transport purchases.
Apply Nowon Axis Bank secure site
Frequently Asked Questions
What are the bonus rewards offered by the Axis Bank Ace Credit Card?
Axis Ace Credit Card offers bonus rewards (5% cashback) on various types of bill payments, DTH & mobile recharges on Google Pay App. It also offers bonus rewards (4% cashback) on certain food delivery (Zomato & Swiggy) & local transport purchases (Ola).
Can I use the Axis Bank Ace Credit Card for international transactions?
Yes, you can use your Axis Ace Credit Card for international transactions. However, please note that their is a foreign currency transaction fees of 3.5% on transaction value.
Their will also be a 1% Dynamic Currency Conversion fee if you settle your international transactions in Rupees, hence it is advisable to settle your foreign currency transactions in the currency of the country you are travelling to. For example if you are in Paris on holiday, it is advisable to settle foreign currency transactions in Euros. You should ask the retailer to show you how to do this on the card payment terminal, in case you have any clarifications.
What are the fees and charges associated with the Axis Bank Ace Credit Card?
Important fees and charges associated with the Axis Ace Credit Card are – annual fee, interest charges on outstanding balances, late payment fees, cash withdrawal fees, and foreign currency transaction fees, if applicable. To know more about specific fees and charges for Axis Bank Ace Credit Card, please check out the above mentioned post or visit the Axis Bank website.
What are the cashback rewards offered by the Axis Bank Ace Credit Card?
The Axis Ace Credit Card offers a range of cashback rewards – 5% cashback on various types of bill payments, DTH & mobile recharges on Google Pay App, 4% cashback on certain food delivery & local transport purchases (Zomato, Swiggy & Ola), and 2% unlimited cashback on all other purchase transactions.