Axis Bank has some good entry-level credit cards like Neo and MY Zone. These are easy to get approved for and come with low annual fees making them ideal for someone new to credit cards. In this post, we review the Axis Bank Neo credit card and the features, rewards, and benefits offered by it.
Fees and Charges
| Joining/Annual Fee | Rs 250 |
| Welcome Benefit | Rs 250 Amazon Gift Voucher 3 months Zomato Pro subscription Rs 250 Grofers Gift Voucher 6 months 1mg care subscription |
| Joining Fee Waiver | None |
| Annual Fee Waiver | None |
Rewards
Neo’s rewards and benefits are more for select merchants like Zomato/Paytm/Grofers. The rate for ‘EDGE’ rewards is a bit low. This makes this card worth it only if you can maximize the merchant offers.
| Rewards | 1 EDGE Reward Point / Rs 200 |
| EDGE Reward Points Value | 20 paise / point |
Effective 15th November 2022, Axis Bank Neo credit card will not earn any EDGE Rewards for the below categories:
- Fuel
- Rent
- Utilities
- Educational Services
- Government Institutions
Merchant Benefits
| Merchant | Offer | Max Discount | Min Order | Max Usage |
|---|---|---|---|---|
| Zomato | 40% off | Rs 120 / order | Rs 200 | 2 times / month |
| Paytm – Utility Bills | 5% off | Rs 150 / month | None | Once / month |
| Myntra – Select Styles | 10% off | No Cap | Rs 500 | No Cap |
| Grofers | 10% off | Rs 250 | Rs 750 | Once / month |
| BookMyShow | 10% off | Rs 100 / month | None | None |
- Zomato, Paytm and Grofers are the only ones where I see some benefit.
- We can get a better discount on the others even without the Neo card.
Dining Delights
Neo card is also eligible for the Axis Bank Dining Delights program. In this, we get a minimum of 15% off on partner restaurants when dining in.
Refer to the official Axis Bank Dining Delights website for a list of restaurants and applicable offers.
My View
Axis Neo is not meant for someone who spends at a variety of places and expects consistent rewards. It is for someone who wants to get their first Axis Bank credit card or someone starting off with credit cards. For the second case, we have a lot of entry-level credit cards that are easy to get for salaried people. These include Ace, Flipkart Axis card, and Amazon Pay ICICI card. These are very easy to get and provide good rewards as well.
So, should one get the Axis Neo credit card? If, this is the only card you are able to get then yes. Or, if you are getting this LTF. For all other cases, we have many better options.
Axis Bank Neo Credit Card