Axis Bank MY Business Credit Card – Benefits, Fees & Eligibility

Axis Bank MY Business Credit Card

Introduction

The Axis Bank MY Business Credit Card is an entry-level business credit card designed to facilitate smooth and hassle-free business transactions. It comes with a nominal annual fee, making it an attractive option for small businesses. The card provides benefits across various categories, including travel and fuel, and awards reward points for every business transaction. Cardholders enjoy complimentary airport lounge access for comfortable business travel and a fuel surcharge waiver. Additionally, the card enables automatic utility bill payments for services like telephone and electricity and offers the flexibility to convert transactions into easy EMIs.

Welcome Benefits

• Receive 100 points on your first transaction made with the card.

Fees

• Joining Fee: Rs. 999 (plus applicable taxes).
• Renewal Fee: Rs. 499 (plus applicable taxes) from the 2nd year onwards.
• Spend-Based Waiver: Not applicable.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% of the transaction value.
• Interest Rates (Finance Charges): 3.25% per month (46.78% per annum) is applicable on the due amount if not cleared by the payment due date.
• Fuel Surcharge: 1% fuel surcharge waiver for fuel transactions between Rs. 400 and Rs. 4,000. The maximum refund amount is capped at Rs. 400 per statement cycle.
• Cash Advance Charges: 2.5% of the amount withdrawn or Rs. 250 (whichever is higher).

Rewards

• Reward Rate: Earn 4 Reward Points for every Rs. 200 spent.
• Birthday Benefit: Get double reward points on every transaction made during your birthday month.
• Travel: Enjoy complimentary airport lounge access within India.
• Domestic Lounge Access: Receive 2 complimentary airport lounge accesses within India every quarter, totaling 8 complimentary accesses annually. Unused lounge access cannot be carried forward to the next quarter.
• Movies & Dining: Not applicable for specific benefits.
• Fuel: Benefit from a 1% Fuel Surcharge Waiver on all fuel transactions made between Rs. 400 and Rs. 4,000. The maximum waiver is capped at Rs. 400 per statement cycle.
• Easy EMI Conversion: Convert any transaction above Rs. 2,500 into EMIs with a minimal interest rate of up to 2%.
• Bill Payments: Pay utility bills like telephone and electricity automatically.
• Cash Withdrawal: Withdraw cash up to 30% of your credit limit.

Rewards Redemption Guide

• Redeem accumulated EDGE REWARD points through the exclusive reward redemption catalogue on EDGE Loyalty Rewards.
• Points can be redeemed against purchasing vouchers, mobile & accessories, home & decor, and many other exciting offers via the Edge Rewards portal.
• 1 Edge Reward Point is equivalent to Re. 0.20.
• You can also convert your Edge Reward points against InterMiles and Club Vistara points.

Card Eligibility Criteria

• Age: The minimum eligible age for this credit card is 21 years.
• Income: The applicant should have a stable source of income.
• Credit Score: The applicant’s credit score and their business credit score might also be considered important factors for approval.

Card Review

The Axis Bank MY Business Credit Card is an excellent choice for individuals and small businesses seeking an entry-level credit card with a nominal fee. It offers a foundational set of benefits, including complimentary airport lounge access for domestic travel and a fuel surcharge waiver, making business travel and daily expenses more manageable. The card further simplifies operations by allowing automatic utility bill payments and providing the flexibility to convert larger transactions into EMIs. With its reward points program for every business transaction, it provides tangible value. This card is best suited for businesses looking for essential credit card functionalities without a high annual commitment, offering a good balance of features and affordability.

Important Product Details

• Reward Points: Earn 4 Reward Points for every Rs. 200 spent.
• First Transaction Bonus: Get 100 points on your initial transaction.
• Birthday Month Offer: Receive double reward points during your birthday month.
• Fuel Surcharge Waiver: 1% waiver on fuel transactions between Rs. 400 and Rs. 4,000, with a maximum waiver of Rs. 400 per statement cycle.
• Domestic Lounge Access: Enjoy 2 complimentary airport lounge accesses quarterly within India (8 annually).
• Cash Withdrawal Facility: Withdraw cash up to 30% of your credit limit.
• Automated Bill Payments: Option to automatically pay utility bills.
• EMI Conversion: Convert purchases above Rs. 2,500 into EMIs with interest rates up to 2%.
• Joining Fee: Rs. 999 (plus applicable taxes).
• Annual Fee: Rs. 499 (plus applicable taxes) from the second year.
• Foreign Currency Markup: 3.5% of the transaction value.
• Interest Rate: 3.25% p.m. (46.78% p.a.).
• Cash Advance Charges: 2.5% of the withdrawn amount or Rs. 250 (whichever is higher).
• Rewards Redemption Fee: Nil.

Other Details

• Best Suited For: Movies, Fuel, Shopping.
• Reward Type: N/A (as specified in the card summary).
• Application Process: You can apply for the card both online and offline. For offline application, visit your nearest Axis Bank branch with the required documents. For online application, follow the "Apply Now" link and proceed accordingly.