Axis Bank Cashback Credit Card – Benefits, Fees & Eligibility

Axis Bank Cashback Credit Card

The Axis Bank Cashback Credit Card is designed for individuals seeking straightforward cashback rewards on their spending, making it an ideal choice for savvy shoppers. This card focuses on maximizing savings on everyday and online transactions through various cashback options and exclusive discounts. While it features a joining and renewal fee of ₹1,000 plus GST, it also offers an annual fee waiver on achieving a specific spend threshold, making it a valuable tool for those looking to be consistently rewarded for their purchases and dining experiences.

Welcome Benefits

• Enjoy 5,000 EDGE Reward Points worth ₹1,000 upon making the first transaction within 30 days of card issuance.
• There are no minimum spend-based criteria to be eligible for this welcome benefit.
• Spending made by both primary and add-on cards shall be considered for this benefit.

Fees

• Joining Fee: ₹1,000 + GST for the Primary Card. Not applicable on Add-on Cards.
• Annual Fee: ₹1,000 + GST for the Primary Card. Not applicable on Add-on Cards.
• Spend-Based Waiver: The annual fee is waived on spends of ₹4,00,000 and above in an anniversary year.
• Rewards Redemption Fee: Not Applicable.
• Foreign Currency Markup:
  • 3.50% of the transaction value on International Non-DCC (Dynamic Currency Conversion) Transactions.
  • For international transactions in US Dollars, a 3.5% mark-up is applied on the Rupee equivalent, based on conversion rates published by card networks.
  • For international transactions in currencies other than the US Dollar, the transaction is first converted into US Dollars at card network conversion rates.
• Interest Rates (Finance Charges): 3.75% per month (equivalent to 55.55% annually).
• Fuel Surcharge: No fuel surcharge waiver facility is applicable. Any fuel surcharge levied by the merchant will not be reversed.
• Cash Advance Charges: 2.5% of the withdrawn amount, with a minimum charge of ₹500.
• Over Limit Charge: 2.5% of the overlimit amount, with a minimum charge of ₹500.
• Cash Deposit at Branches: ₹175 per transaction.
• Returned Payment Charge (Cheque / ECS / ACH / SI bounce charge): 2% of the payment amount, with a minimum charge of ₹500.
• Railway Ticket Booking Surcharge: As prescribed by IRCTC / Indian Railways.
• Rent Surcharge: 1% per transaction plus applicable taxes (GST will be applicable as notified by the Government of India).
• DCC (Dynamic Currency Conversion) Markup: 1.5% plus taxes will be applicable on Axis Bank Credit Cards for 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. International cash withdrawal amounts billed post conversion to INR via DCC may also include any fees/charges levied by the ATM acquiring bank or ATM service provider.
• Statement Request (beyond 3 months): NIL.
• Reissue of Lost, Stolen or Damaged Card: NIL.
• Late Payment Charges:
  • Nil if the outstanding amount is less than ₹500.
  • ₹500 if the outstanding amount is between ₹501 and ₹5,000.
  • ₹750 if the outstanding amount is between ₹5,001 and ₹10,000.
  • ₹1,000 if the outstanding amount is greater than ₹10,001.
  • An additional charge of ₹100 will be levied if the Minimum Amount Due (MAD) payment is not made prior to the Payment Due Date (PDD) for two consecutive billing periods.

Rewards

• Higher Cashback on Online Spends:
  • Enjoy up to 7% cashback on online spends, with earnings capped at ₹4,000 per statement month.
  • Earn 2% cashback for spends up to ₹5,000. (Up to ₹100)
  • Earn 5% cashback for spends greater than ₹5,000 and less than or equal to ₹40,000. (Up to ₹1,750)
  • Earn 7% cashback on spends greater than ₹40,000. (Up to ₹2,150)
  • Example: For monthly net spends of ₹70,000, 2% cashback will apply on ₹5,000, 5% cashback on ₹35,000, and 7% cashback on ₹30,000.
• Base Cashback on Offline & Travel Spends: Receive unlimited base cashback of 0.75% on all offline and travel-related spends.
• Bonus Cashback on Utilities & Bill Payments: Get 0.5% cashback up to ₹100 on utility bill payments.
• Dining:
  • Enjoy exceptional dining experiences at top restaurants across India with the Axis Bank Dining Delights Program.
  • Get an instant discount of 20% (up to ₹800) on EazyDiner with a minimum transaction value of ₹2,500. This offer is available once every month, and unused offers cannot be carried over to the next month.
• Movies, Domestic Lounge, International Lounge, Golf, Insurance, Lifestyle: No specific benefits are mentioned for these categories.

Rewards Redemption Guide

• Cashback earned with the Axis Bank Cashback Credit Card is automatically credited directly to the cardholder’s account.
• The cashback is credited before the next statement date.
• There is no minimum amount requirement for cashback redemption.
• The redemption process is designed to be straightforward and hassle-free, eliminating complexities like points conversions or specific redemption criteria.

Card Eligibility Criteria

Eligibility Rules

• Age: Primary cardholders should be between 18 and 70 years of age.
• Residential Status: The individual should be a resident of India or an NRI (Non-Resident Indian).
• Income: Must have a regular source of income.
• Employment: Should be salaried or self-employed with appropriate income proof.
• The criteria mentioned are indicative, and the bank reserves the right to approve or decline applications for the Axis Bank Cashback Credit Card.

Documents Required

• Proof of Identity: PAN Card photocopy or Form 60.
• Proof of Income: Latest payslip, Form 16, or IT Return.
• Residence Proof: Driving License, Electricity Bill, or Landline Telephone Bill.
• The above list is indicative, and required documents may vary on a case-to-case basis.

Card Review

The Axis Bank Cashback Credit Card is a compelling option for individuals who appreciate direct cashback rewards and primarily conduct online transactions. Its strength lies in a user-friendly system that eliminates the complexities often associated with reward points, making it easy to earn and redeem benefits.

• Who Should Apply: This card is particularly suitable for savvy shoppers who have substantial online spending and frequently dine out, aiming to maximize their savings on everyday expenses. Its flexible eligibility criteria make it accessible to a wide range of applicants.
• Pros:
  • Highly attractive cashback rates on online spending, tiered up to 7%.
  • Unlimited 0.75% cashback on all offline and travel-related expenditures.
  • Seamless and automatic cashback redemption directly credited to the statement, requiring no minimum amount.
  • Valuable dining benefits through the Axis Bank Dining Delights Program, including discounts on EazyDiner.
• Cons:
  • A joining and annual fee of ₹1,000 + GST.
  • The annual fee waiver demands a relatively high annual spend of ₹4,00,000.
  • Does not offer a fuel surcharge waiver.
  • Lacks premium travel perks such as complimentary lounge access.
  • Higher interest rate compared to some other credit products.

Important Product Details

Key Positives

• Welcome Benefit: Receive 5,000 EDGE Reward Points worth ₹1,000 upon your first transaction within 30 days of card issuance.
• Online Cashback: Earn up to 7% cashback on online spends, capped at ₹4,000 per statement month, with tiered rates:
  • 2% for spends up to ₹5,000.
  • 5% for spends between ₹5,001 and ₹40,000.
  • 7% for spends above ₹40,000.
• Offline & Travel Cashback: Enjoy unlimited 0.75% base cashback on all offline and travel-related expenditures.
• Utility Bill Payments: Get an additional 0.5% cashback on utility bill payments, capped at ₹100 per month.
• Dining Offers: Access to the Axis Bank Dining Delights Program and a 20% discount (up to ₹800) on EazyDiner (once per month, min. transaction ₹2,500).
• Automatic Redemption: Cashback is credited automatically to your statement before the next billing cycle, with no minimum amount required.
• Potential Savings: Illustrative annual savings can exceed ₹14,000 based on a total annual spend of ₹4,50,000.

Key Negatives

• Fees: A joining and annual fee of ₹1,000 + GST is applicable.
• Annual Fee Waiver Threshold: A significant annual spend of ₹4,00,000 is required to avail the annual fee waiver.
• No Fuel Surcharge Waiver: Fuel purchases do not qualify for a surcharge waiver.
• Foreign Currency Markup: A 3.50% markup is applied to international non-DCC transactions.
• High Finance Charges: Interest rates are 3.75% per month (55.55% annually).
• Other Charges: Includes cash advance fees (2.5% or min ₹500), over limit charges (2.5% or min ₹500), rent surcharge (1% + taxes), and DCC markup (1.5% + taxes).
• Limited Premium Benefits: The card does not offer specific benefits for domestic/international lounge access, golf, movies (beyond general online cashback), or dedicated insurance.

Other Details

• The terms and conditions of the Axis Bank Cashback Credit Card are scheduled to be updated effective 20th June, 2025.
• This credit card is one of the new offerings introduced by Axis Bank as part of the migration process following its acquisition of Citi India’s consumer banking business.
• Existing Citi Cashback credit cardholders will be migrated to the Axis Bank Cashback Credit Card, generally retaining similar benefits.
• Certain spending categories, such as fuel purchases, are explicitly excluded from cashback eligibility.
• In the event of a returned purchase for which cashback was earned, the corresponding cashback amount will be deducted from the cardholder's account or refund.