Imagine a credit card that rewards you for every swipe, turning your daily expenses into a treasure trove of savings. The Axis ACE credit card, designed by Axis Bank, is precisely that—a key to unlocking exclusive cashback offers that elevate your spending experience. With various rewards on everyday purchases, this card helps you get more value from your spending. Whether shopping online, dining out, or paying utility bills, this card ensures you earn significant cashback on every transaction. This credit card review explores this powerful financial tool’s unique features and benefits and how you can unlock its full potential.
Axis ACE Credit Card: Overview
Type: Cashback credit card
Regular Apr: 52.86% p.a.
Annual Fee: ₹499
Foreign Transaction Fee: 3.5%
The Axis ACE credit card is a flexible cashback card intended to significantly benefit your everyday expenses. With a competitive regular APR of 52.86% p.a., this card provides several opportunities to maximize your savings. The annual fee is a modest ₹499, making it an affordable option for those seeking to leverage cashback benefits without high upfront costs. Additionally, the card carries a foreign transaction fee of 3.5%, making it a practical choice for international travelers who wish to enjoy cashback benefits while abroad. The Axis ACE card combines affordability and valuable rewards, making it an excellent choice for clever spenders looking to maximize their returns on regular expenditures.
Eligibility
The Axis ACE credit card from Axis Bank is designed for people who match within a particular eligibility range.
- Age Requirement: 18 to 70 years old.
- Residency Requirement: Must be a resident of India.
To apply for the Axis ACE card, you’ll required to:
- PAN card or Form 60
- Residence proof
- Identity proof
- Color photograph
- Proof of income (latest payslip, Form 16, or IT return copy)
Please note that this list may vary based on individual cases.
Benefits of Axis ACE Credit Card
Cashback on Every Spend
- 5% Cashback on Bill Payments: Earn 5% cashback on payments for electricity, internet, gas, and more, as well as DTH and mobile recharges made through Google Pay. This feature is designed to provide significant savings on routine household expenses.
- 4% Cashback on Swiggy, Zomato, and Ola: Enjoy 4% cashback on your food orders and ride bookings with popular services like Swiggy, Zomato, and Ola. This benefit is particularly useful for those who frequently use these services for convenience and dining.
- 1.5% Cashback on All Other Spends: For all other purchases not covered under the specific categories, you will receive a 1.5% cashback. This ensures you earn rewards on every transaction made with the card.
Lounge Access
- Complimentary Lounge Visits: Axis ACE card holders can enjoy 4 complimentary lounge visits per calendar year at select domestic airports. This benefit provides a comfortable and relaxing travel experience with access to airport lounges.
Fuel Surcharge Waiver
- 1% Surcharge Waiver on Fuel Purchases: Get a 1% waiver on fuel surcharge when you use your Axis ACE card at fuel stations across India. This is valid for transactions between ₹400 to ₹4,000, with a maximum benefit of up to ₹500 per statement.
- GST on Fuel Surcharge: Note that goods and services tax (GST) charged on the fuel surcharge will not be refundable. However, the waiver still offers significant savings on your fuel expenses.
- No Cashback on Fuel Transactions: While the fuel surcharge waiver is a valuable benefit, it’s important to note that no cashback is earned on fuel transactions.
Dining Delights
- Discounts at Partner Restaurants: Enjoy up to 15% off at over 4,000 partner restaurants across India. This benefit allows you to indulge in delicious meals at discounted prices, making dining out more affordable.
Convert Purchases to EMI
- EMI Conversion: You can convert your credit card purchases of ₹2,500 or more into Equated Monthly Installments (EMIs). This feature helps manage large expenses by breaking them into smaller, more manageable payments over time.
Axis ACE Credit Card Fees and Interest
Understanding the fees and interest rates of the Axis ACE card is essential for effective financial management. This guide covers all key charges, including joining and annual fees, finance, and various transactional fees.
| Joining Fee | ₹499 (waived for select channels) | |
| Renewal Fee | ₹499 | |
| Annual Fee | ₹499 (waived from the 2nd year on spends over ₹2 lakh; excluding rent and wallet loads) | |
| Late Payment Fee | Up to ₹500: ₹0 From ₹501 to ₹5,000: ₹500 From ₹5,001 to ₹10,000: ₹750 From above ₹10,001: ₹1,200 | |
| Cash Payment Fee | ₹100 | |
| Cash Withdrawal Fee | 2.5% of the cash amount (Min ₹500) | |
| Over Limit Penalty | 2.5% of the over-limit amount (Min ₹500) | |
| Foreign Transaction Fee | 3.5% |
Pros & Cons
Pros
- High cashback rates
- Complimentary lounge access
- Fuel surcharge waiver
- Dining discounts
Cons
- High finance charges
- High foreign transaction fee
- Complex annual fee conditions
- Limited cashback categories
Pros Explained
- Earn 5% cashback on bill payments (electricity, internet, gas, etc.) and mobile recharges via Google Pay, 4% cashback on Swiggy, Zomato, and Ola, and 1.5% cashback on all other spends. These rates provide significant savings on everyday expenses.
- Enjoy 4 complimentary lounge visits per year at select domestic airports. This perk adds comfort and convenience to your travel experience, providing amenities like free Wi-Fi, refreshments, and a relaxing environment.
- Get a 1% fuel surcharge waiver on fuel purchases at all fuel stations across India. This waiver applies to transactions between ₹400 to ₹4,000, with a maximum benefit of up to ₹500 per statement, helping reduce overall fuel costs.
- Benefit from up to 15% off at over 4,000 partner restaurants across India. This discount makes dining out more affordable and enhances the card’s overall value for food enthusiasts.
Cons Explained
- The card has a high finance charge of 3.6% per month (52.86% per annum). Carrying a balance on the card can result in significant interest charges, making it expensive if not paid monthly.
- A 3.5% fee on foreign currency transactions can add substantial costs for international travelers who frequently use their cards abroad. This fee reduces the card’s appeal for overseas spending.
- The annual fee of ₹499 is waived only if annual spending exceeds ₹2,00,000. However, rent and wallet load transactions are excluded from this calculation, making it challenging for some users to qualify for the fee waiver.
- While the cashback rates are attractive, they are limited to specific categories. For instance, 5% cashback is only available on bill payments and recharges via Google Pay, and 4% on Swiggy, Zomato, and Ola. Other spending only earns 1.5% cashback, which may not be as rewarding for users with diverse spending habits.
Is Axis ACE Credit Card Worth Considering?
The Axis ACE credit card is worth considering if your spending habits align with its high cashback categories, such as bill payments, recharges via Google Pay, and services like Swiggy, Zomato, and Ola. It offers significant benefits like complimentary lounge access, a fuel surcharge waiver, and dining discounts, which enhance its value for frequent travelers and food enthusiasts. However, the high finance charges and foreign transaction fees may be drawbacks if you carry a balance or frequently use the card abroad. Additionally, meeting the annual fee waiver condition may be challenging for some users. Overall, suppose you can maximize the cashback rewards and meet the spending threshold for the annual fee waiver. In that case, adding the Axis ACE card to your collection of financial instruments can be highly beneficial.
FAQs
The Axis ACE credit card is a popular cashback card offered by Axis Bank. It provides up 5% cashback on bill payments and recharges via Google Pay, 4% on Swiggy, Zomato, and Ola, and 1.5% on all other spends. The card also offers fuel surcharge waivers, airport lounge access, and attractive EMI options, making it ideal for everyday use and savings.
Yes, the Axis ACE credit card provides complimentary access to select airport lounges in India and offers discounts on flight bookings and hotel stays through partner merchants.
Yes, you can set spending limits on your Axis ACE credit card through Axis Bank’s internet banking or mobile app, allowing better control over your expenditures.
Yes, the Axis ACE credit card has an annual fee of ₹499, which is waived off if you spend ₹2 lakh or more in the previous year. The first year’s fee is also waived if you apply through specific channels or during promotional periods.
Yes, the Axis ACE credit card can be used internationally. Before you travel, ensure your card is enabled for international transactions through the Axis Bank mobile app or internet banking.
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