Axis Bank Olympus Credit Card – Benefits, Fees & Eligibility

Axis Bank Olympus Credit Card

Introduction

The Axis Bank Olympus credit card is one of the latest additions to the Axis Bank credit card portfolio, boasting several advantages that position it to compete with many Indian super-premium cards. This card offers a high reward rate, earning 1 EDGE Mile for every ₹100 spent domestically and 2 EDGE Miles for every ₹100 spent internationally. With 1 EDGE Mile equating to 4 Partner Points, this translates to an effective 4% rewards on domestic spending and 8% on international spending. Despite a Forex markup fee of 1.8% + GST, the net reward rate on foreign spends impressively comes to 5.8%. Cardholders can convert up to 7.5 lakh EDGE Miles annually to various flight and hotel partners via Travel EDGE. Additionally, it provides exclusive airport privileges like unlimited domestic and international lounge access, airport transfers, and concierge services. Golf enthusiasts can enjoy eight complimentary golf sessions each year, with opportunities to earn more based on spending. The card also includes a complimentary Taj Epicure membership, unlocking new doors and offers for cardholders.

Welcome Benefits

• Taj/ITC Hotel vouchers worth ₹10,000 are provided as a welcome and annual renewal benefit.
• 2,500 EDGE Miles are offered as a welcome and annual renewal benefit.
• Both welcome and renewal benefits are unlocked upon making the first transaction with the Olympus card.

Fees

• Joining Fee: ₹20,000 + GST (effectively ₹23,600).
• Renewal Fee: ₹20,000 + GST.
• Foreign Currency Markup: 1.8% + GST (effectively costing 2.12%).
• Interest Rates: 3.6% Monthly (52.86% Annually).
• Fuel Surcharge: 1% Fuel Surcharge Waiver.
• Cash Advance Charges: 2.5% (minimum of ₹500).

Rewards

• Rewards Rate
  • Earn 1 EDGE Mile for every ₹100 spent on domestic purchases.
  • Earn 2 EDGE Miles for every ₹100 spent on international purchases.
  • No reward points are earned on the following categories: transportation and tolls, utilities, insurance, educational institutions, government institutions, wallet, rent, and fuel.
  • The effective reward rate is 4% on domestic spending (as 1 EDGE Mile = 4 Partner Points) and 8% on international spending before considering the forex markup.
  • The net reward rate on foreign spends, after accounting for the 1.8% + GST forex markup, is approximately 5.8%.
• Movies
  • Enjoy a Buy One Get One Free offer on movie ticket bookings through BookMyShow.
  • The second movie ticket is free or receives a discount of up to ₹650.
  • This offer is ongoing as long as the credit card is valid.
• Dining
  • Receive a 30% discount up to ₹1,000 on dining with Axis Dining Delights.
  • Complimentary Taj Epicure Membership offers:
    • Up to 10 persons can enjoy 25% off food and beverages for dine-in and takeaway at participating restaurants across hotels.
    • 25% off on orders via the Qmin App (unlimited usage).
• Travel
  • Complimentary Priority Pass membership.
  • Airport Transfer Service.
  • Concierge Services.
  • Complimentary Stay Program: Book a minimum of three nights with Hotels.com using the Olympus card and receive the third night’s stay for free.
    • This offer is valid for one room only.
    • The reservation must be made in the primary cardholder’s name, and the primary cardholder must be present during the stay at the property.
    • Customers can take advantage of this offer twice in a calendar year.
• Domestic Lounge
  • Unlimited domestic airport lounge access is provided for both primary and add-on cardholders at select airports nationwide.
  • Ten free guest visits are also offered each year.
• International Lounge
  • Both primary and add-on cardholders are eligible for a complimentary Priority Pass membership, allowing unlimited complimentary access to over 1,200+ international airport lounges worldwide.
  • Ten guest visits are also included with this membership.
• Golf
  • Get eight complimentary golf lessons or rounds across domestic courses each year.
  • Cardholders can earn one additional golf round on each ₹50,000 spent with their credit card.
  • Golfing experiences can be booked by visiting Axis Extraordinary Weekends or contacting Axis Olympus Concierge (1800 103 4962).
• Lifestyle
  • Complimentary Taj Epicure Membership, which is renewed upon completing the card anniversary, offers:
    • 20% discount on Spa Treatments at Jiva Spas across hotels (unlimited usage).
    • 20% savings on the best available rate on rooms/suites at participating hotels (valid for one stay voucher).
    • 20% off the Best Available Rate at Taj Palaces on rooms/suites for a maximum of 5 nights (valid for one stay voucher).
    • 20% savings on rooms/suites at Taj Safaris for a maximum of 5 nights (valid for one stay voucher).
  • Enjoy a Buy One Get One Free offer on non-movie ticket bookings through BookMyShow, with a maximum discount of ₹1,000 for the second non-movie ticket.
• Concierge Services
  • Benefit from eight complimentary airport concierge services.
  • This is considered a premium service, also provided with other super-premium Axis Bank credit cards like Burgundy Private and Axis Magnus for Burgundy.
• Airport Transfer Services
  • Receive 2 complimentary airport pickups and transfers each year, valid for the primary cardholder only.
  • These services can be booked by visiting Axis Bank Extraordinary Weekends.
  • Luxury Airport Transfers (Mercedes/BMW/Audi) are valid across Delhi, NCR, Mumbai, Bangalore, Hyderabad, Chennai, and Kolkata.
  • Sedan Airport Transfers are valid across a wider range of cities including Delhi, Gurgaon, Jaipur, Mumbai, Pune, Bengaluru, Hyderabad, Chennai, Kolkata, Noida, Faridabad, Ghaziabad, Navi Mumbai, Cochin, Goa, Ahmedabad, Vadodara, Surat, Chandigarh, Agar, Amritsar, Lucknow, Udaipur, Nagpur, Mangalore, Mysore, Madurai, Bhopal, Gwalior, Patna, Jodhpur, Leh, Srinagar, Pondicherry, Jammu, Vishakhapatnam, Trivandrum, Indore, Ranchi, Bhubaneswar, Dehradun, Aurangabad, Coimbatore, Nasik & Mangalore.

Rewards Redemption Guide

• EDGE Miles can be redeemed on the Travel Edge platform for booking flights, hotels, and experiences.
• The redemption value is 1 EDGE Mile = 4 Partner Points.
• A minimum of 500 EDGE Miles is required for redemption.
• Cardholders can convert a maximum of 7.5 lakh EDGE Miles per customer ID annually to various flight and hotel partners.
• Transfer Miles partners are divided into two groups with specific annual caps:
  • Group A (Annual Cap of 150,000 EDGE Miles):
    • Accor Hotels (Accor Live Limitless)
    • Air Canada (Aeroplan)
    • Ethiopian Airlines
    • Etihad (Etihad Guest)
    • Japan Airlines (JAL Mileage Bank)
    • Marriott International (Marriott Bonvoy)
    • Qatar Airways
    • Singapore Airlines (Krisflyer)
    • Turkish Airlines
    • Thai Airways (Royal Orchid Plus)
    • United Airlines (MileagePlus)
    • Wyndham Hotels (Wyndham Rewards)
  • Group B (Annual Cap of 600,000 EDGE Miles):
    • Air France-KLM (Flying Blue)
    • Air India (Maharaja Club)
    • Air Asia
    • ITC
    • IHG Hotels & Resorts (IHG One Rewards)
    • Qantas Airways (Qantas Frequent Flyer)
    • SpiceJet

Card Eligibility Criteria

• Applicants should have a monthly income of more than ₹75,000.

Card Review

The Axis Bank Olympus credit card serves many purposes and offers a wide range of benefits, positioning it as a true super-premium credit card. Whether it's the Buy One Get One offer on movies or a generous EDGE Mile transfer ratio, this card encompasses comprehensive advantages. With a compelling reward rate of 4% on domestic spends and a net reward rate of over 5% on international transactions (after considering forex markup), this card significantly enhances savings, particularly for those who frequently travel and spend abroad. Frequent travelers will greatly benefit from the unlimited international and domestic lounge access provided for both primary and add-on cardholders. For individuals seeking a premium credit card, the Axis Bank Olympus offers truly exciting and rewarding benefits that make it a compelling choice.

• Pros
  • Offers a wide range of benefits across various categories, including movies, dining, travel, and lifestyle.
  • Provides excellent reward rates, especially on international spending, with a high conversion value for EDGE Miles.
  • Includes extensive airport privileges such as unlimited lounge access, concierge, and airport transfer services for both primary and add-on cardholders.
  • Features valuable luxury benefits like complimentary Taj Epicure membership and a Hotels.com stay program.
• Cons
  • Lacks milestone benefits, which can be a drawback for a super-premium card of this caliber.

Important Product Details

• The Axis Bank Olympus is a super-premium credit card known for its high rewards and exceptional point redemption program.
• Cardholders earn 1 EDGE Mile for every ₹100 on domestic spending and 2 EDGE Miles for every ₹100 on international spending.
• It offers frequent travelers unlimited international and domestic airport lounge access for both primary and add-on cardholders.
• The card provides an effective reward rate of 4% on domestic and approximately 5.8% on international spending (after considering forex markup).
• A significant advantage is the ability to convert up to 7.5 lakh EDGE Miles annually to various airline and hotel partners.
• Includes valuable benefits such as complimentary Taj Epicure membership, Buy One Get One offers on BookMyShow, and comprehensive airport concierge/transfer services.
• A key negative highlight is the absence of milestone benefits, which might be expected from a card in its premium segment.

Other Details

• The Axis Bank Olympus Credit Card is best suited for individuals interested in Movies, Travel, and Shopping.
• The reward type offered by this card is Reward Points (EDGE Miles).
• The card has been introduced as a migration option for Citi Prestige Cardholders.
• Under this migration, Citi Prestige Cardholders will be moved to the Axis Bank Olympus Card, maintaining similar fees and reward structures but offering enhanced benefits, such as a new Buy One Get One (BOGO) offer in partnership with BookMyShow, which was not previously available.