What are the chances that two leading credit card issuers use the same name for their cards? Slim to none. But here we have a brand name that both HDFC Bank and Axis Bank use – Diners Club Privilege and Axis Bank Privilege. The Axis Bank Privilege credit card is a mid-segment offering that comes with decent rewards and benefits. It also has an amazing feature that can boost the rewards on your other Axis Bank credit cards. 🙂 Here is a review of the Axis Bank Privilege credit card and everything you need to know about it.
Fees and Charges
|Welcome Gift||12500 EDGE Reward Points if joining fee is paid ~Rs 5000 Value|
6250 EDGE Reward Points if joining fee is waived ~Rs 2500 Value
|Annual Fee||Rs 1500+GST|
|Renewal Benefit||3000 EDGE Reward Points ~Rs 1200 Value (if the fee is charged)|
|Annual Fee Waiver||On spends of Rs 2.5 Lakhs in a membership year|
The normal value of 1 EDGE Reward is 20 paise. But with Privilege, we can get a 40-paise value for selected redemptions. More on this in the rewards section.
Axis Bank Privilege Credit Card Rewards
- 10 EDGE Reward Points for every Rs 200 spend ~1% to 2% return
While the base reward rate seems low, we have Axis Bank Grab Deals to get a higher return on spending. Here are some ways:
- 2X Rewards on Amazon/Flipkart vouchers on GIFT EDGE ~2% to 4% return
- 2X Rewards on Croma, TataCLiQ ~2% to 4% return
- 3X on Myntra purchases ~3% to 6% return
Excluded Transactions for Rewards
Below transactions will not get any cashback on the Axis Bank Privilege credit card:
- Educational Services
- Government Payments
The rewards can be redeemed from the Axis Bank EDGE Rewards Portal. Each EDGE Reward Point is worth Rs 20 paise for these redemption options. We have Amazon and Flipkart gift vouchers for redemption as well.
The USP of the Privilege card is what Axis Bank calls a ‘multi-brand voucher’. The normal value of an EDGE Reward point is 20 paise when redeemed for rewards like an Amazon GV. For Privilege, we have the option to get a multi-brand voucher worth Rs 5000 for 12500 EDGE Reward points. This boosts the value of 1 EDGE Reward point to 40 paise.
- Online: Shoppers Stop, Myntra, Prestige/BB Star
- OTT: Zee 5, Sony LIV
- Dining: Pizza Hut, Costa Coffee
- Fashion: Louis Philippe, Vero Moda, The Raymond Shop, W for Woman, United Colors of Benetton, Levi’s, Woodland, Puma, Lifestyle, Bata, Hidesign, Hush Puppies, Aldo
- Beauty & Healthcare: The Body Shop, Kama Ayurveda, Apollo Pharmacy
Tip: Redeem Multi-Brand Voucher for other EDGE Rewards credit cards
Axis Bank maintains a single EDGE Rewards account. EDGE reward points from all eligible credit cards held by us get posted to this account. Holding Privilege doubles the reward rate for other EDGE Rewards cards like Magnus. So, earn EDGE Rewards using Magnus and redeem them for the multi-brand voucher as you hold Privilege.
Complimentary Airport Lounge Access
We get 2 complimentary domestic airport lounge visits per quarter. The list of eligible lounges is in this list.
There is no complimentary international airport lounge access on the Axis Bank Privilege credit card.
Other Benefits and Charges
- Fuel Surcharge Waiver: 1% waiver on transactions between Rs 400 and Rs 4000. Maximum fuel surcharge waiver of Rs 400 per statement cycle.
- Foreign Currency Transaction Charges: 3.5%+GST
- Finance Charges: 3.6% per month / 52.86% annually
With a Rs 1500 annual fee and a 2% to 10% reward rate with the multi-brand voucher, the Privilege is a good credit card. We get the annual fee waiver at Rs 2.5 Lakhs spend which should also be easy to achieve. Get the Axis Bank Privilege card if:
- Planned redemption is the multi-brand voucher where we get a higher return
- You can use Grab Deals to get accelerated rewards
Frequently Asked Questions
Axis Bank Privilege Credit Card