Axis has recently revised the features and benefits on most of their credit cards and Axis Ace card is one of those cards which got devalued. The benefits have been reduced by introducing a capping on the overall cashback that can be earned but this card might be still a good card for some folks out.
It is a simple cash back credit card for utilities and general spends whether online or offline without the hassle of worrying about earning and redeeming reward points. Axis Bank in collaboration with Google Pay launched this new entry-level credit on Visa (Signature) platform. Here’s everything you need to know.
Overview
This is a cashback card which gives great returns (5%) on bill payments & recharges using GPay with a capping which we will discuss later in this article. It also comes with Lounge access benefit, gets you fuel surcharge waiver and more and that too for a minimal fee.
| Type | Entry level Cashback credit card |
| Reward Rate | 5% on GPay; 4% on preferred merchants; 2% everywhere else |
| Best for | Bill payments & recharges on GPay |
Design
It has a simple design depicting waves on a black background which looks good in person when you hold this card in hand even though it is plastic card. The card number digits are embossed which is something you don’t usually see in entry level cards which gives it a slight premium feel. The card is issued on Visa Signature network.
Fees & Charges
Joining & Renewal Fees
| Joining Fee | Rs. 499 + 18% GST |
| Joining Fee Waiver | waived off on spends greater than Rs. 10000 within 45 days of card issuance |
| Joining Benefit | None |
| Renewal Fee | Rs. 499 + 18% GST |
| Renewal Fee Waiver | waived off on annual spends greater than Rs. 2 lakh; Rent transactions (MCC 6513) and wallet load transactions (MCC 6540) aren’t eligible for annual fee waiver |
| Renewal Benefit | None |
There are no benefits like gift vouchers or anything on joining and renewal but with the waiver condition for both there is nothing to complain about. If this card is used every month for utilities then it should be fairly easy to get the joining and renewal fee waived off.
Tip: If you are falling short of reaching Rs. 2 lakh at the end of card renewal year then you can purchase some gift vouchers through Axis Edge portal and use those later for bill payments.
Other Charges
Forex Payments
3.50% of the transaction value + 18% GST (which adds up to 4.13%) which means it is not a good option to use it for foreign trips as you would end up paying 1.87% extra (4.13% – 2%).
Fuel Purchases
There is no cashback on fuel purchases but you do get 1% fuel surcharge waiver across all petrol pumps in India as long as transactions are between Rs. 400 – Rs. 4000, exclusive of GST and other charges.
Ex. If you purchase fuel of Rs. 2000 then 1% surcharge of Rs. 20 is first applied and then waived off but the 18% GST of Rs. 3.6 is levied.
There is a capping of Rs. 500 per statement cycle for surcharge waiver per credit card account which is more than enough.
Rent Payments
No cashback on rent payments plus a charge of 1% of the transaction value + GST capped at Rs. 1500 per transaction is levied. Also, all the portals for rent payments take their own convenience fee which means use of this card for rent payments is not a good idea.
EMI Fees
For EMI transactions, a one-time processing fee of 1.5% or Rs. 250 whichever is higher is charged on the date of conversion.
Benefits
Cashback
The cashback is in the form of statement credit which is the best type of cashback :).
| Spend Category | Cashback Rate |
| Bill Payments on GPay (electricity, water, gas, LPG and broadband, DTH & mobile recharges (postpaid/prepaid)) | 5% (capped at Rs. 500 per cycle) |
| Swiggy, Zomato & Ola | 4% (capped at Rs. 500 per cycle) |
| Any other spends | 2% |
| Exclusions | Fuel, EMI transactions, Purchases converted to EMI, Wallet loads, Cash advances, Rent payments, Purchase of jewelry, Insurance payments, Educational services, Government services |
With the recent devaluation of this card which came in effect from 15th June 2023, this card has lost some of its shine for sure. However, with Rs. 500 capping you can still go as high as Rs. 10000 for bill payments which for a small family is sufficient. Few things to note:
- Bill payments are eligible for cashback only if the payment is done on GPay for Android users
- GPay doesn’t support bill payment using credit cards on iOS yet.
- The capping of Rs. 500 is combined cap for 5% and 4% category
- There is no capping on the 2% category
- Cashback is rounded off to nearest rupee value for each individual transaction.
- Cashback earned for the purchases during the current billing cycle is credited in the next billing cycle 3 days prior to the statement generation date i.e. if the statement date is 15th March, cashback earned in the Feb month cycle (16th Jan-15th Feb) will be credited on 12th March
Travel Benefits
Airport Lounge Access
With the entry level card that this is, it still comes with 4 complimentary domestic airport lounge access per calendar year which is of great value. Good thing is the lounge visits limit is for a year not for every quarter so for round trips this will be beneficial. Just using it once at a lounge would get you your money’s worth.
List of eligible airport lounges can be checked here. The list is not that long but at least you have an option at all major metro cities in India.
Dining Benefits
There are no special dining benefits just for this card but as part of Axis Dining Delight you can get upto 15% off upto Rs. 500 at restaurants by using EazyDiner to pay the bill.
- Offer: 15% upto Rs. 500
- Min. Transaction: Rs. 2500
- Usage limit: Once a month per customer on EazyDiner
More details on Axis Bank Dining Delight program are available here.
Best way to use this card
- Pay bills on GPay
- Use on Swiggy/Zomato for 4% cashback on top of app offers
- Avail airport lounge access
How to apply
With Axis you can hold up a maximum of three cards. You can apply either on Axis bank website or at your nearest Axis bank branch. If you already hold an Axis card, then the credit limit they issue might be combined for this card and your existing one given that your existing card is non-premium category card.
Verdict
As of this moment, this card is no more a no-brainer card for everyone. There was a time when irrespective of what kind of use you had, this was the best cashback card without a doubt. We know that nothing last forever, especially in the credit card world.
Having said that, this card is still good enough for many users and may continue to be in the near future as the fee is not much and you get many fold returns in exchange of that.
What are your thoughts about the Axis Ace Credit Card? Feel free to share your views in the comment section below.
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