Axis Bank My Zone Easy Credit Card – Benefits, Fees & Eligibility

Axis Bank My Zone Easy Credit Card

Introduction

The Axis Bank My Zone Easy Credit Card is a secured credit card issued against a fixed deposit, making it accessible even to individuals without a credit history, with guaranteed approval and minimal documentation. While it shares a similar annual fee with its unsecured counterpart, the Axis Bank My Zone Credit Card, it is designed primarily for credit building. This card offers key benefits such as 25% cashback on movie tickets, a minimum of 15% discount on dining, a 1% fuel surcharge waiver, and the ability to withdraw cash up to your credit limit. It also features a decent reward rate, earning 4 Edge Reward Points for every Rs. 200 spent, which can be redeemed through the Edge Rewards portal.

Welcome Benefits

• Assured approval for the credit card upon application.

Fees

• Joining Fee: ₹500 + GST
• Renewal Fee: ₹500 + GST
• Spend-Based Waiver: Not applicable.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% of the total transaction amount.
• Interest Rates:
  • 3.75% per month (55.55% yearly) on outstanding balances.
  • (An FAQ section also mentions an interest rate of 3.4% per month).
  • Enjoy free credit for up to 50 days on purchase transactions. This is applicable only if there is no outstanding balance on the card account, meaning the previous bill has been settled in full by the payment due date. This benefit is not applicable to cash transactions.
• Fuel Surcharge:
  • 1% fuel surcharge waiver on all fuel transactions in India.
  • This waiver is valid on transactions between Rs. 400 and Rs. 4,000.
  • The maximum benefits from the fuel surcharge waiver are capped at Rs. 400 per statement cycle.
  • GST charged on the fuel surcharge is non-refundable.
  • On certain fuel transactions, the fuel surcharge may be levied as INR 10 instead of 1% (with additional GST) by the card issuing bank.
  • No reward points are earned on fuel transactions.
• Cash Advance Charges: 2.5% of the withdrawn amount, subject to a minimum of Rs. 500.

Rewards

• General Spends:
  • Earn 4 Edge Reward Points on domestic spends for every Rs. 200 spent.
  • No reward points are earned on fuel transactions or movie offer transactions where cashback is availed.
• Movies:
  • Get 25% cashback on online and box office movie ticket purchases all week.
  • The amount of cashback in a calendar year is limited to Rs. 1,000.
  • Only transactions made at merchants registered as MCC 7832 or MCC 7922 are eligible for movie cashback.
• Dining:
  • Indulge in delectable cuisines with Axis Bank Dining Delights, offering a minimum of 15% off at partner restaurants in India.
• Travel: Not applicable.
• Domestic Lounge Access: Not applicable.
• International Lounge Access: Not applicable.
• Golf: Not applicable.
• Insurance: Not applicable.
• Lifestyle:
  • Wednesday Delight offers:
    • Instant savings of up to 15% on flights & hotels via Goibibo and Makemytrip.
    • 10% off on orders via Swiggy and Amazon Fresh.
    • 10% off up to Rs. 1000 on Tira.

Rewards Redemption Guide

• The Edge Reward Points earned can be redeemed against a wide array of options, including products, gift vouchers, flight/hotel bookings, and more.
• Points can be redeemed at the Edge Rewards portal.
• The value of 1 Edge Reward Point is Re. 0.20.

Card Eligibility Criteria

• Eligibility Rules:
  • Applicants must have a fixed deposit (FD) of Rs. 20,000 or more in Axis Bank. The FD amount can range from Rs. 20,000 to Rs. 25,00,000.
  • The applicant's age should be 18 years or above.
• Documents Required:
  • Identity Proof (any one): Aadhar Card, PAN Card, Voter ID, Driving License, or Passport.
  • Address Proof (any one): Aadhar Card, Utility Bills, Passport, or Driving License.

Card Review

The Axis Bank My Zone Easy Credit Card stands out as a secured credit card, making it an excellent gateway for individuals without a credit history to begin building one. Its guaranteed approval process and minimal documentation requirements are significant advantages for new-to-credit users. While its benefits might be fewer compared to unsecured credit cards, it still offers substantial value through a decent reward rate on general expenditures, a generous 25% cashback on movie tickets (up to Rs. 1,000 annually), and a minimum of 15% discount on dining. The 1% fuel surcharge waiver and the flexibility of cash withdrawals up to the credit limit further enhance its appeal. This card is an ideal choice for anyone looking to establish a credit score, enabling them to potentially qualify for more feature-rich unsecured credit cards in the future. However, for those who already possess a good credit history, exploring other Axis Bank credit card options might provide a more extensive range of benefits tailored to their spending habits.

Important Product Details

• A secured credit card, issued against a fixed deposit, with guaranteed approval.
• Designed for individuals looking to build or improve their credit score.
• Minimal documentation is required for application.
• Equipped with Platinum Chip contactless technology, offering clear authentication of credit payments and easy fraud detection.
• The chip cannot be duplicated, ruling out counterfeiting and skimming, making transactions safer.
• Features Chip and PIN protection for additional security.
• Allows cash withdrawals up to 100% of your credit limit from day one.
• Any transaction over Rs. 2,500 can be converted into EMIs by contacting the bank.
• Offers zero liability protection against lost or stolen cards.
• Earn 4 Edge Reward Points on every Rs. 200 spent on domestic transactions.
• Enjoy 25% cashback on movie tickets, capped at Rs. 1,000 per calendar year.
• Receive a minimum of 15% discount on dining through the Dining Delights program.
• Benefit from a 1% fuel surcharge waiver on transactions between Rs. 400 and Rs. 4,000, with a maximum waiver of Rs. 400 per statement cycle.
• Enjoy up to 50 days of interest-free credit on purchase transactions, provided the previous bill is paid in full by the due date.

Other Details

• Contactless Payments: Tap the card for secure transactions up to Rs. 5000 without swiping.
• Application Process:
  • Online: Visit the Axis Bank official website, navigate to the 'Credit Cards' section, locate the 'Axis Bank My Zone Easy Credit Card', click the 'Apply Now' button, fill in all required details, and submit the form.
  • Offline: Visit your nearest Axis Bank branch with the necessary documents and fill out a physical application form.
  • A prerequisite for application is having a fixed deposit of Rs. 20,000 or more at any Axis Bank branch.