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

Introduction

The Axis Bank MY Business Credit Card is an entry-level business credit card offered by Axis Bank, designed to facilitate smooth business operations and hassle-free transactions. It is a suitable option for small businesses due to its nominal annual fee. Key differentiating benefits include complimentary airport lounge access within India, a fuel surcharge waiver, and reward points on business transactions, alongside features like automatic utility bill payments and EMI conversion options for purchases.

Welcome Benefits

• Receive 100 points on your first transaction.

Fees

• Joining Fee: Rs. 999 plus applicable taxes.
• Annual Fee: Rs. 499 plus applicable taxes, applicable from the 2nd year onwards.
• Spend-Based Waiver: Not applicable.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% of the transaction value plus applicable taxes.
• Interest Rates (Finance Charges): 3.25% per month (46.78% per annum) on the due amount if not cleared by the payment due date.
• Fuel Surcharge Waiver: 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• Cash Advance Charges: 2.5% of the amount withdrawn or Rs. 250, whichever is higher.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

• General Reward Rate: Earn 4 Reward Points for every Rs. 200 spent.
• Birthday Month Rewards: Receive double reward points on every transaction made during your birthday month.
• Travel Benefits:
  • Domestic Lounge Access: Enjoy 2 complimentary airport lounge accesses within India every quarter, totaling 8 complimentary accesses annually.
  • International Lounge Access: Not applicable.
• Fuel Benefits: Get a 1% fuel surcharge waiver on fuel purchases made with the card, applicable on transactions between Rs. 400 and Rs. 4,000, with a maximum refund of Rs. 400 per statement cycle.
• Lifestyle Benefits:
  • Utility Bill Payments: Automatically pay utility bills such as telephone and electricity.
  • Easy EMI Conversion: Convert any transaction above Rs. 2,500 into EMIs with a minimal interest rate of up to 2%.
• Cash Withdrawal: Withdraw cash up to 30% of the credit limit.

Rewards Redemption Guide

• Accumulated EDGE REWARD points can be redeemed on the exclusive reward redemption catalogue on EDGE Loyalty Rewards.
• Redemption options include purchasing vouchers, mobile & accessories, home & decor, and many other exciting offers via the Edge Rewards portal.
• The value of 1 Edge Reward Point is Re. 0.20.
• You can also convert your Edge points against InterMiles and Club Vistara points.

Card Eligibility Criteria

• The minimum eligible age for the applicant is 21 years.
• The applicant should have a stable source of income.
• The applicant’s credit score and their business credit score might also be considered important factors.

Card Review

The Axis Bank MY Business Credit Card is a strong option for businesses seeking an entry-level credit card with a nominal fee. It provides essential benefits for business operations, including complimentary domestic lounge access for travel and a fuel surcharge waiver. The card also offers the convenience of automatic utility bill payments and the flexibility to convert transactions into EMIs. With its reward points on every business transaction, it serves as a great choice for small businesses looking for a basic yet effective financial tool.

Important Product Details

• Earn 4 Reward Points for every Rs. 200 spent.
• Receive 100 points on your first transaction.
• Get double reward points during your birthday month.
• Enjoy a 1% Fuel Surcharge Waiver on fuel transactions between Rs. 400 and Rs. 4,000, with a maximum refund of Rs. 400 per statement cycle.
• Benefit from 2 complimentary airport lounge accesses within India every quarter.
• Cash withdrawal facility available up to 30% of the credit limit.
• Option to pay utility bills automatically.
• Convert purchases above Rs. 2,500 into EMIs at an interest rate of up to 2%.
• Joining Fee: Rs. 999 plus applicable taxes.
• Annual Fee: Rs. 499 plus applicable taxes (from the 2nd year onwards).
• Foreign Currency Mark-up Fee: 3.5% of the transaction amount plus applicable taxes.
• Finance Charges: 3.25% per month (46.78% per annum).
• Cash Advance Charges: 2.5% of the amount withdrawn or Rs. 250, whichever is higher.

Other Details

• Unused airport lounge access cannot be carried forward to the next quarter.
• The card can be applied for both online and offline. For offline application, visit the nearest Axis Bank branch with required documents and fill out a physical application form. Online application involves clicking "Apply Now" and following the subsequent steps.