Axis Bank Neo Credit Card – Benefits, Fees & Eligibility

Axis Bank Neo Credit Card

The Axis Bank Neo Credit Card is an entry-level credit card designed primarily for young individuals and millennials, offering a variety of discounts, cashback, and reward points on popular shopping and utility categories. It provides exciting discounts on partner brands like Zomato, Myntra, Blinkit, and Paytm, along with benefits on movie ticket bookings via BookMyShow. Cardholders also earn Edge Reward Points on eligible spends, which can be redeemed for a wide range of products and vouchers. The card prioritizes affordability with potentially nil annual fees under specific conditions and incorporates essential security features such as EMV chip and Zero Lost Card Liability.

Welcome Benefits

• 100% cashback up to ₹300 on the first utility bill payment.
• To avail this benefit, the first utility bill payment must be made within the first 30 days of card issuance.

Fees

• Joining Fee: ₹250. This fee is Lifetime Free for select channels.
• Annual Fee (Second year onwards):
  • 1st Year: Nil
  • 2nd Year onwards: ₹250
  • This fee is Lifetime Free for select channels.
• Add-on Card Joining Fee: Nil
• Add-on Card Annual Fee: Nil
• Card Replacement Fee: Nil
• Cash Payment Fee: ₹175
• Duplicate Statement Fee: Waived
• Charge Slip Retrieval Fee or Copy Request Fee: Waived
• Outstation Cheque Fee: Waived
• Mobile Alerts for Transactions: Free
• Hotlisting Charges: Nil
• Balance Enquiry Charges: Waived
• Finance Charges (Retail Purchases & Cash): 3.75% per month (55.55% per annum)
• Cash Withdrawal Fees: 2.5% of the cash amount, subject to a minimum of ₹500.
• Overdue Penalty or Late Payment Fee:
  • Nil if Total Payment Due is less than ₹500
  • ₹500 if total payment due is between ₹501 - ₹5,000
  • ₹750 if total payment due is between ₹5,001 - ₹10,000
  • ₹1200 if total payment due is greater than ₹10,000
  • An additional ₹100 charge will be levied if the 'Minimum Amount Due (MAD)' is not paid for two consecutive cycles and will apply until the MAD is cleared.
• Over Limit Penalty: 2.5% of the over-the-limit amount, subject to a minimum of ₹500.
• Cheque return or dishonour Fee or Auto-debit Reversal: 2% of the payment amount, subject to a minimum of ₹500.
• Surcharge on purchase or cancellation of Railway Tickets: As prescribed by IRCTC/Indian Railways.
• Foreign Currency Transaction Fee (Markup): 3.50% of the transaction value.
• GST: As per existing Government norms.
• Reward Redemption Fee: A redemption fee applies. (Note: One source indicates 'Nil' for this fee, while another indicates 'Yes'.)
• Rent Transaction Fee: 1% fee per transaction will be applicable on each rental transaction, plus applicable taxes.
• Dynamic Currency Conversion Markup: 1.5% plus taxes will be applicable 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.
• Fuel Transaction Surcharge: 1% of the transaction amount. A 1% fuel surcharge is waived at all petrol pumps across India on transactions between ₹400 and ₹4,000, with a maximum waiver of ₹400 per month.
• Education Payment Charges: 1% fee per transaction will be applicable on education payments made via third-party apps.
• Wallet Load Transaction Fee: 1% fee will be applicable on cumulative spends of ₹10,000 or more on wallet loads per statement cycle.
• Fuel Transaction Fee (Cumulative Spends): 1% fee will be applicable on cumulative spends of ₹50,000 or more on fuel transactions per statement cycle.
• Utility Transaction Fee (Cumulative Spends): 1% fee will be applicable on cumulative spends of ₹25,000 or more on utilities per statement cycle.
• Online Skill-Based Gaming Transaction Fee: 1% fee will be applicable on cumulative spends of ₹10,000 or more on online skill-based gaming platforms in a statement cycle.

Rewards

• General Spends: Earn 1 EDGE REWARD Point for every ₹200 spent on the card (Reward Rate 0.10%).
• Food Delivery (Zomato):
  • Get a flat ₹120 off on food delivery.
  • Use Coupon Code ‘AXISNEO’ to avail the discount.
  • Maximum discount is capped at ₹120 per order.
  • Offer applicable on a minimum order value of ₹499.
  • Discount is valid two times per month.
  • Offer effective from 1st July 2025.
• Utility Bill Payments (Paytm):
  • Get 5% off on mobile recharges, broadband payments, and DTH recharges done through Paytm.
  • Enjoy a maximum discount of ₹150 each month.
  • Minimum transaction requirement of ₹299.
  • Customers may take advantage of this discount once monthly.
  • Use Coupon Code: AXISNEO to avail the discount.
• Grocery Shopping (Blinkit - Power of 10):
  • Get 10% off on Blinkit, up to ₹250 off.
  • Minimum spends of ₹750 required.
  • Valid once per month.
• Movies (BookMyShow - Power of 10):
  • Get 10% off on every purchase of a movie ticket on BookMyShow.
  • Maximum monthly benefit is up to ₹100.
• Online Shopping (Myntra - Power of 10):
  • Get ₹150 off on Myntra.
  • Minimum spends of ₹999 required on selected styles.
• Dining Delights:
  • Enjoy exceptional dining experiences at top restaurants across India with the Axis Bank Dining Delights Program, including 15% off on dining at partner restaurants.
• Wednesday Delights:
  • Instant savings of up to 15% on flights & hotels via MakeMyTrip.
  • 10% off on orders via Swiggy.
  • 10% off up to Rs. 1000 on Tira.

Rewards Redemption Guide

• EDGE REWARD points can be redeemed for various options.
• Redemption categories include vouchers, mobile & accessories, home decor items, and other exciting products.
• The redemption value is 1 Edge Reward Point = ₹0.20.
• Points can be redeemed through the dedicated EDGE REWARDS Catalogue.

Card Eligibility Criteria

Eligibility Rules

• Primary Cardholder should be between 18-70 years of age.
• Add-on cardholder should be over 18 years of age.
• The applicant should either be a Resident of India or a Non-Resident Indian.
• The applicant should have a stable source of income.
• The above criteria are only indicative; the bank reserves the right to approve or decline applications.

Documents Required

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

Card Review

The Axis Bank Neo Credit Card is a highly affordable entry-level card well-suited for young individuals who frequently shop online and make utility payments. It provides a decent set of benefits, especially in categories like food delivery, online shopping, and bill payments. The card offers significant discounts on Zomato, Blinkit, Myntra, and BookMyShow, which align with the spending habits of its target audience. The 5% cashback on Paytm utility bills is also a notable advantage. While the general reward rate of 0.10% (1 Edge Reward Point for every ₹200 spent) is considered low, the specific category discounts and cashback offers provide more value. A notable drawback is the absence of insurance benefits and complimentary lounge access, making it less suitable for frequent travelers. Overall, it serves as a good starting point for building a credit history while enjoying practical everyday spending benefits.

Important Product Details

• Positive Highlights:
  • 100% cashback up to ₹300 on first utility bill payment as a welcome benefit.
  • Flat ₹120 off on Zomato food delivery (twice a month, min spend ₹499, coupon AXISNEO, effective 1st July 2025).
  • 5% off on utility bill payments via Paytm (up to ₹150 monthly, min transaction ₹299, once monthly, coupon AXISNEO).
  • 10% off on Blinkit (up to ₹250 off, min spend ₹750, once a month).
  • 10% off on BookMyShow movie tickets (up to ₹100 monthly).
  • ₹150 off on Myntra (min spend ₹999 on selected styles).
  • Access to Axis Bank Dining Delights Program with 15% off at partner restaurants.
  • Additional Wednesday Delights offers including discounts on MakeMyTrip, Swiggy, and Tira.
  • 1% fuel surcharge waiver on transactions between ₹400-₹4,000 (max cap ₹400/month).
  • EMV certified chip and PIN system for enhanced security.
  • Zero Lost Card Liability protection from the moment loss is reported.
  • Option to convert transactions above ₹1,500 into EMIs.
  • Available in RuPay variant, allowing UPI payments.
  • Potential annual savings of up to ₹10,000.
• Negative Highlights & Exclusions:
  • Very low general reward rate of 0.10% (1 Edge Reward Point for every ₹200 spent).
  • No insurance benefits provided with this card.
  • No complimentary domestic or international airport lounge access.
  • Reward points are not earned on fuel, utilities, insurance, EMI, wallet reloads, rent, government, and education transactions.
  • A fee applies for reward redemption.
  • 1% fee on rent transactions.
  • 1.5% Dynamic Currency Conversion markup.
  • Specific fees apply for education payments, wallet loads, fuel transactions (above certain cumulative spends), and online skill-based gaming transactions.

Other Details

• The terms and conditions of the Axis Bank Neo Credit Card will be updated effective June 20, 2025.
• All Axis Neo Credit Cards are equipped with an EMV certified chip and PIN system, significantly lowering the risk of counterfeit and skimming fraud, ensuring secure spending.
• With zero lost card liability, cardholders are protected against any fraudulent use of their card from the moment the loss is reported. To report a misplaced or stolen card, contact Axis Bank customer service at 18605005555 or 18604195555.
• Cardholders can easily convert substantial credit card expenditures into EMIs using Internet Banking, the Mobile App, or Customer Service. This conversion option is available for transactions exceeding ₹1,500.
• The Axis Bank Neo Credit Card is a basic card, and the initial credit limit may not be very high. The credit limit varies based on the cardholder's income, credit history, and other factors. It can be improved by maintaining a good credit history.
• Application for the card can be done online or by visiting the nearest Axis Bank branch with the required documents. Application status can also be tracked online or offline.