Axis Bank ACE Credit Card – Benefits, Fees & Eligibility

Axis Bank ACE Credit Card

Introduction

The Axis Bank ACE Credit Card is designed as an everyday companion offering accelerated cashback on all spends, especially targeting young professionals who frequently use online payment platforms and popular merchants. This card, launched in partnership with Google Pay and Visa, provides significant cashback on utility bill payments and mobile recharges via the Google Pay Android application, alongside attractive cashback rates on popular services like Swiggy, Zomato, and Ola. Beyond cashback, it also includes complimentary domestic airport lounge access and dining discounts, making it a compelling entry-level card for those new to credit.

Welcome Benefits

• As per one source, there are no specific welcome benefits ("N/A").
• As per another source, the joining fee can be reversed on an expenditure of Rs. 10,000 within 45 days of card setup.

Fees

• Joining Fee: Rs. 499 + GST (Nil for a limited time offer).
• Renewal Fee: Rs. 499 + GST.
• Spend-Based Waiver:
  • The annual membership fee is waived off (from the second year onwards) on achieving an annual spend of Rs. 2,00,000 in the preceding year.
  • The joining fee is reversed on an expenditure of Rs. 10,000 within 45 days of card setup.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.75% Per Month (55.55% Annualized) on the outstanding amount if not cleared by the due date.
• Fuel Surcharge: 1% fuel surcharge waiver for purchases worth between Rs. 400 and Rs. 4,000.
  • Maximum waiver is capped at Rs. 500 per statement cycle.
  • GST charged on fuel surcharge will not be refundable.
• Cash Advance Charges: 2.5% of the withdrawn amount, subject to a minimum of Rs. 500.
• Card Replacement Fee: No replacement fee applicable.

Rewards

• Cashback on Every Spend:
  • 5% cashback on utility bill payments (electricity, internet, gas, water, LPG, and broadband) & DTH and mobile recharges on Google Pay.
    • This offer is applicable only if the payment is made via the Google Pay Android application using the ACE credit card.
    • No accelerated (5%) cashback on Google Pay iOS app; only the regular 1.5% cashback applies.
  • 4% cashback on Swiggy, Zomato & Ola.
  • 1.5% cashback on all other spends.
• Cashback Capping:
  • The 5% cashback and 4% cashback categories have a combined maximum capping of Rs. 500 cashback per statement cycle.
  • There is no monthly capping on the 1.5% cashback earned on all other spends.
• Dining:
  • Enjoy up to 15% off at 4000+ partner restaurants in India under the Dining Delights program.
  • Accelerated (4%) cashback on Swiggy and Zomato orders.
• Travel:
  • Domestic Lounge Access: Enjoy 4 complimentary lounge visits per calendar year at select domestic airports.
  • International Lounge Access: Not applicable.
  • Accelerated (4%) cashback on Ola rides.
• Fuel:
  • 1% fuel surcharge waiver on fuel purchases at all fuel stations across India.
  • Valid on transactions between Rs. 400 to Rs. 4,000.
  • Maximum benefit of up to Rs. 500 per statement.
  • No cashback is earned on fuel transactions.
• No Cashback Categories:
  • Fuel spends
  • Wallet reloads
  • Purchase of gold items
  • Purchases converted to EMI
  • Cash withdrawals
  • Payment of the card’s outstanding balances
  • Payment of card fees & other card charges

Rewards Redemption Guide

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

Card Eligibility Criteria

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

Card Review

The Axis Bank ACE Credit Card stands out as an excellent entry-level cashback card, particularly beneficial for users who frequently engage in online transactions. Its primary strength lies in its accelerated cashback on utility bill payments and mobile recharges via the Google Pay Android app, as well as on popular food delivery and ride-hailing services. The inclusion of 4 complimentary domestic airport lounge accesses per year is a significant perk, often absent in credit cards within this fee segment. With a modest annual fee that is easily waivable, and unlimited 1.5% cashback on other spends, it offers substantial value. However, users should be aware of the cashback caps on accelerated categories and the exclusion of cashback on certain transactions like fuel, wallet reloads, and EMI conversions. Overall, it's a strong recommendation for those seeking an affordable card with solid cashback rewards for everyday digital spending and occasional travel.

Important Product Details

• 5% cashback on bill payments (electricity, internet, gas, water, LPG, broadband) & DTH and mobile recharges on the Google Pay Android application.
• 4% cashback on Swiggy, Zomato & Ola.
• 1.5% cashback on all other spends, with no monthly capping.
• The 5% and 4% cashback categories have a combined maximum capping of Rs. 500 per statement cycle.
• Enjoy 4 complimentary lounge visits per calendar year at select domestic airports.
• 1% fuel surcharge waiver on fuel purchases between Rs. 400 and Rs. 4,000, with a maximum benefit of Rs. 500 per statement.
• Up to 15% off at 4000+ partner restaurants in India.
• Joining fee is Rs. 499 + GST, which can be reversed on spending Rs. 10,000 within 45 days of card setup.
• Annual fee is Rs. 499 + GST, which is waived off on achieving an annual spend of Rs. 2,00,000 in the preceding year.
• No cashback is earned on fuel transactions, 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.
• Foreign currency markup is 3.5% of the transaction amount.
• Interest rate is 3.75% per month (55.55% annually).

Other Details

• The terms and conditions of the Axis Bank ACE Credit Card were updated effective 20th April, 2024.
• Transactions of Rs. 2,500 or more can be converted into EMI by contacting the bank.
• The credit card limit is not fixed and varies based on factors like income, relationship with the bank, and credit history. It can be increased by requesting the card issuer.
• For customer support or to report unauthorized transactions, contact 18604195555 or 18605005555 (reachable 24x7).
• To block your card, send an SMS with "BLOCK XXXX" to 5676782 (where XXXX is the last four digits of your card number).