Axis Bank ACE Credit Card – Benefits, Fees & Eligibility

Introduction

The Axis Bank ACE Credit Card, launched in partnership with Google Pay and Visa, is positioned as an entry-level cashback card primarily targeting young professionals who frequently use online payment platforms and popular merchants. Its key differentiating benefits include a high 5% cashback on utility bill payments and mobile recharges via Google Pay, 4% cashback on popular platforms like Swiggy, Zomato, and Ola, and complimentary domestic airport lounge access. This card aims to be an everyday companion, offering accelerated cashback on various spends.

Welcome Benefits

N/A

Fees

• Joining Fee: ₹499 + GST
• Annual Fee: ₹499 + GST (from the 2nd year onwards)
  • Spend-Based Waiver (Joining Fee): Reversed on expenditure of ₹10,000 within 45 days of card setup.
  • Spend-Based Waiver (Annual Fee): Waived off (from the 2nd year onwards) on achieving an annual spend of ₹2,00,000 in the preceding year. Rent transactions (MCC 6513) and wallet load transactions (MCC 6540) will not be eligible for spends counted in availing the annual fee waiver.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% of the transaction amount
• Interest Rates (Finance Charges): 3.75% per month or 55.55% annualized (on retail purchases and cash)
• Fuel Surcharge Waiver: 1% surcharge waiver for purchases worth between ₹400 and ₹4,000. Maximum waiver of ₹500 per statement cycle. GST charged on fuel surcharge is not refundable.
• Cash Advance Charges: 2.5% of the withdrawn amount, subject to a minimum amount of ₹500.
• Card Replacement Fee: Nil
• Cash Payment Fee: ₹175
• Duplicate Statement Fee: Waived
• Charge Slip Retrieval Fee or Copy Request Fee: Waived
• Outstation Cheque Fee: Waived
• Mobile Alerts for Transactions: Free
• Balance Enquiry Charges: Waived
• Overdue Penalty or Late Payment Fees:
  • Nil if total payment due is up to ₹500.
  • ₹500 if total payment due is between ₹501 - ₹5,000.
  • ₹750 if total payment due is between ₹5,001 - ₹10,000.
  • ₹1,200 if total payment due is ₹10,001 and above.
  • An additional ₹100 is applicable on missing payment of Minimum Amount Due (MAD) by the due date for two consecutive cycles. This charge will continue to be applicable for every payment cycle until the MAD is cleared.
• Over Limit Penalty: 2.5% of the over limit amount (Minimum ₹500).
• Cheque Return or Dishonor Fee or Auto-Debit Reversal: 2% of the payment amount, subject to a minimum of ₹500.
• Surcharge on Purchase or Cancellation of Railway Tickets: As prescribed by IRCTC/Indian Railways.
• Rent Transaction Fee (applicable from 5th March 2023): 1% fee per transaction will be applicable on rental transactions. GST will be applicable.
• Dynamic Currency Conversion Markup: 1.5% will be applicable on each international transaction performed in Indian currency at an international location or transactions performed in Indian currency with merchants located in India but registered in a foreign nation.
• Education Transaction Fee (applicable from 20th Dec, 2024): 1% fee per transaction will be applicable on education payments made via third-party apps.
• Utility Transaction Fee (applicable from 20th Dec, 2024): 1% fee will be applicable on cumulative spends of ₹25,000 or more on utilities per statement cycle.
• Wallet Load Transaction Fee (applicable from 20th Dec, 2024): 1% fee will be applicable on cumulative spends of ₹10,000 or more on wallet loads per statement cycle.
• Fuel Transaction Fee (applicable from 20th Dec, 2024): 1% fee will be applicable on cumulative spends of ₹50,000 or more on fuel transactions per statement cycle.
• Online Skill-Based Gaming Transaction Fee (applicable from 20th Dec, 2024): 1% fee will be applicable on cumulative spends of ₹10,000 or more on online skill-based gaming platforms per statement cycle.
• All above fees and charges are subject to taxes as per government norms.

Rewards

• Cashback on Utility Bills & Mobile Recharges: 5% cashback on utility bill payments (electricity, water, gas, LPG, broadband) and DTH & mobile recharges via the Google Pay Android application.
• Cashback on Food Delivery & Ride-Sharing: 4% cashback on Swiggy, Zomato, and Ola.
• Combined Cashback Cap: The 5% cashback (Google Pay) and 4% cashback (Swiggy, Zomato, Ola) categories have a combined maximum capping of ₹500 cashback per statement cycle.
• Cashback on Other Spends: 1.5% cashback on all other purchases, with no monthly capping.
• Dining Benefits: Up to 15% discount on dining bills at over 4,000 partner restaurants under the bank’s Dining Delights program.
• Domestic Lounge Access: 4 complimentary airport lounge visits to select domestic airport lounges per calendar year.
• No Cashback Categories: No cashback is earned on specific categories of spends, including fuel spends, wallet reloads, purchase of gold items, purchases converted to EMI, cash withdrawals, payment of the card’s outstanding balances, and payment of card fees & other card charges.
• Google Pay iOS App: Accelerated 5% cashback is not applicable on the Google Pay iOS app; only the regular 1.5% cashback will be earned.

Rewards Redemption Guide

• Your earned cashback is automatically credited to the cardholders’ accounts. The card offers cashback, not reward points.

Card Eligibility Criteria

• Age: Must be within the age bracket of 18 years and 70 years.
• Residency: Must be a resident of India.
• Income & Credit Score: Must have a steady income along with a decent credit score.

Card Review

The Axis Bank ACE Credit Card is considered a great entry-level card, especially for those new to credit. It offers excellent cashback benefits, particularly 5% on utility bill payments and mobile/DTH recharges made through the Google Pay Android app, and 4% on popular platforms like Ola, Swiggy, and Zomato. A significant advantage for an entry-level card is the provision of 4 complimentary domestic airport lounge accesses annually. The annual fee of ₹499 is easily waivable on an annual expenditure of ₹2,00,000. Furthermore, there is no maximum capping on the 1.5% cashback earned on other spends.

Who Should Apply:

• Individuals seeking a cashback-based entry-level credit card.
• Frequent users of Google Pay for bill payments and mobile/DTH recharges.
• Those who frequently dine out or order food online via Swiggy/Zomato.
• Individuals looking for an entry-level credit card that includes free airport lounge access.

Pros:

• High reward rates: 5% cashback on Google Pay bill payments/recharges and 4% on Swiggy, Zomato, and Ola.
• Includes 4 complimentary domestic airport lounge accesses, a rare benefit for entry-level cards.
• No maximum capping on the regular 1.5% cashback earned on other spends.
• Annual fee of ₹499 is easily waived off on an annual expenditure of ₹2,00,000.

Cons:

• No cashback on certain spend categories, including fuel, wallet reloads, purchases converted into EMIs, gold items, and cash advances.
• The accelerated 5% cashback on Google Pay is only valid on the Android application, not iOS.
• The cashback earned at non-partner merchants (excluding Google Pay, Zomato, Swiggy, and Ola) is a standard 1.5%.

Important Product Details

• 5% cashback on bill payments and mobile recharges on Google Pay (Android app only).
• 4% cashback on Swiggy, Zomato, and Ola.
• 1.5% cashback on all other purchases (with specific exclusions).
• Combined capping of ₹500 cashback per month for the 5% and 4% cashback categories.
• 4 complimentary domestic lounge visits every year.
• 1% fuel surcharge waiver for transactions between ₹400 and ₹4,000, with a maximum cap of ₹500 per statement cycle.
• Up to 15% discount on dining at over 4,000 partner restaurants.
• Joining fee of ₹499 + GST, waived on spending ₹10,000 within 45 days.
• Annual fee of ₹499 + GST (from 2nd year), waived on annual spends of ₹2,00,000 or more (excluding rent and wallet load transactions).
• Interest rate of 3.75% per month (55.55% annually) on outstanding balances.
• Foreign currency markup of 3.5% of the transaction amount.
• Cash advance fee of 2.5% (minimum ₹500).
• No cashback on fuel spends, wallet reloads, gold purchases, EMI conversions, cash withdrawals, or card fees.
• Future fees applicable from 20th Dec 2024 for education, utility, wallet load, fuel, and online skill-based gaming transactions.

Other Details

• How to Apply: Applications can be submitted by clicking the "Apply Now" button, filling out a form, and submitting required documents (identity proof, address proof, income proof). The process is smoother for existing Axis Bank customers.
• Credit Limit: The credit limit is not fixed and varies based on the cardholder's income, relationship with the bank, and credit history. It can be increased over time by requesting the card issuer.
• Customer Care: For assistance or to report unauthorized transactions, contact 18604195555/18605005555 (24x7). To block the card, send an SMS – BLOCK XXXX to 5676782.
• Convert Purchases to EMI: Transactions of ₹2,500 or more can be converted into EMIs by contacting the bank.
• General Credit Card Services: The bank offers a diverse range of services including credit limit increase, instant loans on credit cards, credit cards against fixed deposits, grab deals, credit card control center, and add-on credit cards.
• Terms & Conditions: The terms and conditions of the Axis Bank ACE Credit Card have been updated with effect from 20th June 2025.