Axis Bank Olympus Credit Card – Benefits, Fees & Eligibility

Introduction

The Axis Bank Olympus Credit Card, issued by Axis Bank, is a super-premium offering designed to compete with top-tier cards in India. It stands out with a high reward rate, offering 4% on domestic spending and an effective 5.8% on international spending after accounting for the Forex markup. Key differentiating benefits include easy redemption methods through Travel EDGE with a generous conversion rate of 1 EDGE Mile to 4 Partner Points, unlimited domestic and international airport lounge access, and eight complimentary golf sessions annually. Cardholders also receive a complimentary Taj Epicure membership, unlocking exclusive dining and stay offers.

Welcome Benefits

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

Fees

• Joining Fee: ₹20,000 + GST (effectively ₹23,600).
• Annual Fee: ₹20,000 + GST (effectively ₹23,600).
• Spend-Based Waiver: Not applicable.
• Rewards Redemption Fee: Not applicable.
• Foreign Currency Markup: 1.8% + GST (effectively costing 2.12%).
• Interest Rates: 3.6% Monthly (52.86% Annually).
• Fuel Surcharge Waiver: 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.
  • This translates to 4% rewards on domestic spending and 8% on international spending (before considering Forex markup).
  • The effective reward rate on foreign spends is 5.8% after accounting for the 1.8% + GST Forex markup.
  • No reward points are earned on categories such as transportation and tolls, utilities, insurance, educational institutions, government institutions, wallet, rent, and fuel.
• Movie & Dining:
  • Enjoy a 30% discount up to ₹1,000 on dining with Axis Dining Delights.
  • Buy One Get One Free on movie ticket bookings with BookMyShow, with the second ticket free or a discount of up to ₹650.
  • Buy One Get One Free on non-movie ticket bookings with BookMyShow, with a maximum discount of ₹1,000 for the second ticket.
  • These BookMyShow offers are ongoing as long as the credit card is valid.
• Travel:
  • Domestic Lounge Access: Primary and add-on cardholders receive unlimited domestic airport lounge access at select airports nationwide, along with ten free guest visits each year.
  • International Lounge Access: Primary and add-on cardholders receive a complimentary Priority Pass membership, granting unlimited complimentary access to over 1,200+ international airport lounges worldwide, including ten guest visits.
  • Airport Concierge Services: Eight complimentary concierge services are available.
  • Airport Transfer Services: Two complimentary airport pickups and transfers each year for the primary cardholder only, bookable via 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 wide range of cities including Delhi, Gurgaon, Jaipur, Mumbai, Pune, Bengaluru, Hyderabad, Chennai, Kolkata, and many more.
• Golf:
  • Eight complimentary golf lessons/rounds across domestic courses annually.
  • Cardholders can earn one additional round on each ₹50,000 spent with their credit card.
  • Golfing experiences can be booked via Axis Extraordinary Weekends or Axis Olympus Concierge (1800 103 4962).
• Taj Epicure Membership:
  • Complimentary Taj Epicure membership, which is renewed upon completing the card anniversary.
  • Benefits include:
    • Up to 25% off food and beverages for dine-in and takeaway for up to 10 persons at participating restaurants.
    • 20% discount on Spa Treatments at Jiva Spas (unlimited usage).
    • 25% off on orders via the Qmin App (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).
• Complimentary Stay Program:
  • Receive the third night's stay for free when booking a minimum of three nights with Hotels.com.
  • This offer is valid for one room only, and the reservation must be in the primary cardholder’s name, with the primary cardholder present during the stay.
  • Customers can take advantage of this offer twice in a calendar year.

Rewards Redemption Guide

• Redemption Value: 1 EDGE Mile equals 4 Partner Points when redeemed on Travel EDGE.
• Redemption Platform: Redeem on Travel EDGE for booking flights, hotels, and experiences.
• Minimum EDGE Miles for Redemption: 500 EDGE Miles.
• Transfer Partners: EDGE Miles can be transferred to various flight and hotel partners, divided into two groups with annual caps:
  • Group A (Annual Cap of 150,000 EDGE Miles): Aeroplan, The British Airways Club, Ethiopian Airlines, Etihad Guest, Finnair Plus, JAL Mileage Bank, Singapore Airlines (Krisflyer), Royal Orchid Plus, Turkish Airlines, United MileagePlus, Lotusmiles (Vietnam Airlines), Wyndham Rewards.
  • Group B (Annual Cap of 600,000 EDGE Miles): Air Asia, Flying Blue, Air India (Maharaja Club), IHG One Rewards, ITC, Orchid Rewards, The Postcard Sunshine Club, Qantas Frequent Flyer, Radisson Rewards, SpiceJet.
• Annual Transfer Limit: A maximum of 7.5 lakh EDGE Miles can be converted per customer ID annually.

Card Eligibility Criteria

• Monthly income more than ₹75,000.

Card Review

The Axis Bank Olympus Credit Card is a super-premium offering that provides a wide range of benefits across various categories. It offers a rewarding experience with a 4% reward rate on domestic spends and an effective rate of over 5% on international spends, making it highly beneficial for those who travel and spend abroad. The unlimited domestic and international lounge access for both primary and add-on cardholders is a significant advantage for frequent travelers. While the card is quite rewarding, a drawback is the absence of milestone benefits, which are often associated with cards in this premium segment. Overall, it is an excellent choice for individuals seeking a premium credit card with strong travel, dining, movie, and lifestyle benefits.

Important Product Details

• A super-premium credit card with high rewards and a great point redemption program.
• Earn 1 EDGE Mile/₹100 on domestic spending and 2 EDGE Miles/₹100 on international spending.
• Offers frequent travelers unlimited international and domestic airport lounge access for both primary and add-on cardholders.
• Provides a wide range of benefits from movies to dining.
• A significant advantage is the ability to convert 7.5 lakh EDGE Miles annually per customer ID.
• The card does not offer milestone benefits.

Other Details

• Axis Bank has introduced the Olympus Credit Card as part of its migration strategy for Citi Credit Cardholders.
• Existing Citi Prestige Cardholders are being migrated to the Axis Bank Olympus Credit Card.
• The fees and reward structure for migrated customers will remain the same, but the Olympus card offers enhanced benefits, such as a new Buy One Get One (BOGO) offer in partnership with BookMyShow, which was not previously available.