Axis Bank Ace Credit Card

Axis Bank Ace Credit Card

Charges

Joining Fee: Rs 499+GST
Annual Fee: Rs 499+GST

Type

Cashback

Reward Rate

2% to 5%

Rating

3.5/5

Issued On

Visa

Benefits

Domestic Airport Lounge Access, Fuel Surcharge Waiver

Table of Contents

Axis Bank Ace credit card is one of the best cashback offerings in India. With 2% cashback on most spends and 5% on Google Pay bill payments, it is easy to see why this has been a popular credit card. But as with other cards, the Ace credit card has also seen its rewards devalue over time. Here is an updated review of the Axis Bank Ace credit card to help you decide whether it is still worth it.

Fees and Charges

Joining FeeRs 499+GST
Joining Fee WaiverSpend Rs 10000 within 45 days
Annual FeeRs 499+GST
Annual Fee WaiverSpend Rs 2 Lakhs in a membership year
Axis Bank Ace Credit Card Review: Fees and Charges

Axis Bank Ace credit card comes with a joining and annual fee of Rs 499 plus GST. This is good and quite low for its segment. The annual fee is waived on annual spending of more than Rs 2 Lakhs.

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Cashback

Type of SpendCashback
Bill Payments on Google Pay

Electricity, Internet, Gas, DTH, and Mobile Recharges
5%
Swiggy, Zomato, and Ola spends4%
All other spend*2%
Axis Bank Ace Credit Card Review: Cashback

The 5% and 4% cashback are now capped at Rs 500 per statement cycle. This is a major bummer for many who were paying utility bills on Google Pay. So, Ace will now give you 5% cashback on only worth Rs 10000 of bill payments with Google Pay. This is still good enough for a small family but would make it not so useful for someone with high spending.

Most other offline and online spends get 2% cashback. There is no cap on this as of now but there is a growing list of spends where we do not get cashback. As of now, there is no cashback on spends for:

  • Educational Services
  • Fuel Spends
  • Rental Payments
  • Insurance Premium Payments
  • EMI transactions or purchases converted to EMI
  • Wallet loading transactions
  • Gold/Jewelry Purchases

Rewards Redemption

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The good thing about Axis Ace is there is no action required for rewards redemption. Cashback earned during a billing cycle is credited 3 days before the next statement generation date. A 2% monthly cashback credit is always better than accumulating rewards for bulk redemption.

Axis Ace statement shows the merchant category and cashback for each transaction. This is something we like. We do hope every card issuer starts doing the same. It saves so much effort in the manual calculation.

Axis Bank Ace Credit Card Review - Statement

Complimentary Airport Lounge Access

TypeComplimentary VisitsAccess
Airport Lounge access within India8 visits/calendar yearUse Credit Card at eligible lounges
Airport Lounge access outside IndiaNot AvailableNot Available
Axis Bank Ace Credit Card: Airport Lounge Access

This is pretty good for a credit card with Rs 499 as the annual fee.

Other Key Benefits and Charges

  • Foreign Currency Markup: 3.5%+GST ~4.13%
  • Cashback Redemption Fee: None
  • Finance Charges: 3.6% per month or 52.86% per annum
  • Fuel Surcharge Waiver: 1% waiver for transactions between Rs 400 to Rs 4000. Maximum surcharge waiver of Rs 500 per statement cycle.

Pros and Cons

Final Thoughts

Any credit card that offers benefits worth more than the fee it charges is always a good addition to the wallet. Axis Ace credit card ticks several of the boxes with low fees, good cashback, and an easy fee waiver. This is what makes this one of the best cashback credit cards. But, again we now have a rather low cap of Rs 500 on the 4% and 5% cashback categories. So, this makes it not so great for high spends. So, the one real benefit on this card now is the unlimited 2% cashback on offline spends.

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Some other good cashback credit cards that you can explore are the Freecharge Axis Bank credit card, SBI Cashback and Airtel Axis Bank credit card.

Axis Bank Ace Credit Card

Card Maven

Fees and Charges
Cashback
Features and Benefits
3.5

Frequently Asked Questions

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17 thoughts on “Axis Bank Ace Credit Card”

  1. For the reversals of joining fee they are asking to spend atleast 10,000rs with in 45days. Does this mean it includes rent payments as well. I couldn’t find a concrete statement to support this. Do give me information if anyone has done it.

  2. Does this card offers cash back on paying school fees and Govt Property taxes? MCC Codes – 9399 & 8299

  3. Rahul Kanadia

    Hello! If i make annual payments for a savings and investment plan, Kotak Fortune Maximiser to be specific, is the cashback applicable?

    1. That will be difficult to know but my guess is no. They should be using a MCC that will fall under 1% category.

  4. Akash Murugan

    I am planning to use this card for business. If I make a payment to a merchant and pay the credit card in the same day will I get the 2% cashback?

    1. Card Maven

      Yes, but too much usage will get tagged as business usage. THey block the card in such cases.

      1. Akash Murugan

        but, you have mentioned in the Rewards Redemption section that the cashback will be credited 3 days before the next statement generation date, How will I get the cashback if I pay the credit card back in the same day, Can you please explain?

        1. Cashback will get credited based on transactions(net of refunds). Payments don’t have an impact.

  5. GeoTrotters

    Has Axis Bank stopped issuing ACE credit card? Card application link on Axis Bank’s website offers several other cards apart from AXE. How does one apply for Axis Bank ACE credit card?

    1. Rahul – It depends on how you want to redeem your rewards. Are you looking to redeem rewards only for cashback/statement credit/Amazon vouchers or you will redeem them for travel as well?

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