Axis Bank Platinum Credit Card – Benefits, Fees & Eligibility

Introduction

The Axis Bank Platinum Credit Card is positioned as a basic or entry-level offering from Axis Bank. While it has been discontinued, it provided a range of benefits including up to 12 Edge reward points on every Rs. 200 spent, a 25% cashback on movie tickets (capped at Rs. 1,000 annually), and a minimum 15% discount on dining experiences. The card also featured a 1% fuel surcharge waiver and spend-based waivers for both joining and renewal fees. It was best suited for shopping.

Welcome Benefits

• Earn 100 Edge Reward points on your first online transaction.

Fees

• Joining Fee:
  • Rs. 500 (for cards setup on or after February 07, 2011). This fee is waived on spending Rs. 5,000 within 45 days of card setup.
  • Nil (for cards setup before February 07, 2011).
• Renewal Fee:
  • Rs. 200 (from the 2nd year onwards, for cards set up on or after February 07, 2011). This fee is waived on spending Rs. 1,00,000 in the preceding year.
  • Nil (for cards setup before February 07, 2011).
• Spend-Based Waiver:
  • The joining fee of Rs. 500 is waived if you spend Rs. 5,000 or more within 45 days from the card activation date.
  • The renewal fee of Rs. 200 is waived if you spend Rs. 1 lakh or more in the previous year.
  • Rent transactions (MCC 6513) and wallet load transactions (MCC 6540) will not be eligible for spends calculated in availing annual fee waiver.
• Rewards Redemption Fee:
  • Nil (as per one source).
  • Yes (as per another source).
• Foreign Currency Markup: 3.5% of the transaction value on all foreign currency transactions. For Dynamic Currency Conversion, a markup of 1.5% + taxes applies 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.
• Interest Rates (Finance Charges):
  • 3.4% per month (40.80% per annum) (as per one source).
  • 3.75% per month (55.55% per annum) for Retail Purchases & Cash (as per another source).
• Fuel Surcharge Waiver:
  • 1% fuel surcharge waiver on all fuel transactions in India for transactions between Rs. 400 and Rs. 4,000.
  • Maximum benefit through fuel surcharge waiver is capped at Rs. 400 per month/statement cycle.
  • GST charged on fuel surcharge is non-refundable.
  • On certain fuel transactions, the fuel surcharge may be levied as Rs. 10 instead of 1% with additional GST.
• Cash Advance Charges (Cash Withdrawal Fees): 2.5% of the withdrawn amount, subject to a minimum charge of Rs. 500.
• Add-on Card Joining Fee:
  • Rs. 100 (for cards setup before February 07, 2011).
  • Nil (for cards setup on or after February 07, 2011).
• Add-on Card Annual Fee: Nil.
• Fee for Cash Payment: Rs. 175.
• Card Replacement (lost or stolen or re-issue): Nil.
• Emergency Card Replacement Fee when overseas (through VISA): As per VISA Global Customer Assistance Services (GCAS).
• Duplicate Statement Fee: Waived.
• Overdue Penalty or Late Payment Fee:
  • Nil if Total Payment Due is less than Rs. 500.
  • Rs. 500 if total payment due is between Rs. 501 - Rs. 5,000.
  • Rs. 750 if total payment due is between Rs. 5,001 - Rs. 10,000.
  • Rs. 1200 if total payment due is greater than Rs. 10,000.
  • An additional charge of Rs. 100 will be applicable on missing payment of Minimum Amount Due (MAD) by the due date for two consecutive cycles. This charge will continue to be applicable for every payment cycle until the MAD is cleared.
• Over Limit Penalty: 2.5% of over the limit amount (Minimum Rs. 500).
• Charge Slip Retrieval Fee or Copy Request Fee: Waived.
• Outstation Cheque Fee: Waived.
• Cheque return or dishonour Fee or Auto-debit Reversal Bank A/c out of Funds: 2% of the payment amount, with a minimum fee of INR 500 and no maximum cap on the fee.
• Surcharge on purchase or cancellation of Railway Tickets: As prescribed by IRCTC/Indian Railways.
• Mobile Alerts for Transactions: Waived.
• Hotlisting Charges: Nil.
• Balance Enquiry Charges: Waived.
• Rent Transaction fee: 1% (+GST) capped at Rs. 1,500/transaction will be applicable on each rental transaction done on MCC 6513.
• Convenience fee for cash payment of credit card bills at branches: Rs. 50 per payment (effective from March 1, 2012).

Rewards

• Reward Rate:
  • Earn 6 Edge Reward Points on every domestic spend of Rs. 200.
  • Earn 12 Edge Reward Points on every international spend of Rs. 200 (2x Edge Rewards).
  • No reward points are earned on movie-related transactions.
  • No EDGE REWARD Points are earned on fuel transactions.
• Movie Benefits:
  • Get 25% cashback on movie tickets (online and box office purchases) on all days of the week.
  • The maximum cashback is capped at Rs. 1,000 per calendar year.
  • Only transactions made at merchants registered as MCC 7832 or MCC 7922 are eligible for movie cashback.
• Dining Benefits:
  • Enjoy a minimum discount of 15% on dining at partner restaurants in India with the Axis Bank Dining Delights Programme.
• EMI Conversion:
  • Convert any transaction over Rs. 2,500 into EMIs through multiple options (Internet Banking, Mobile App, or Customer Service channel).
• Security:
  • The card is EMV certified chip and PIN protected for unrivaled protection.
  • EMV certified chip reduces the possibility of counterfeit and skimming fraud.
• Global Emergency Assistance:
  • Easy access to Visa’s International Global Card Assistance Services.
• Wednesday Delight Offers:
  • Instant savings of up to 15% on flights & hotels via MakeMyTrip.
  • 10% off on orders via Swiggy.
  • 10% off up to Rs. 1,000 on Tira.

Rewards Redemption Guide

• The accumulated EDGE REWARD points can be redeemed for purchasing vouchers, mobiles & accessories, home & decor, gadgets, appliances, and many more exciting offers via the Edge Rewards portal.
• 1 Edge Reward Point is equivalent to Re. 0.20.
• You can also convert your Edge points against InterMiles and Club Vistara points, where 5 Edge points are equivalent to 1 InterMile or 1 Club Vistara point.

Card Eligibility Criteria

• Age: The applicant's age should be between 18 years and 70 years.
• Employment Status: The applicant should either be salaried or self-employed.
• Credit History: The applicant should have a decent credit history.

Documents Required

• ID Proof: Aadhar Card, Passport, Voter’s Id, Driving license, etc.
• Address Proof: Aadhar Card, electricity/telephone bill, driving license, Passport, etc.
• Income Proof: Salary Slip, audited ITR, or Form 60.
• Passport-sized photograph of the applicant.
• Copy of PAN Card.

Card Review

The Axis Bank Platinum Credit Card is considered a popular entry-level offering from Axis Bank. It is a suitable choice for individuals looking to start their credit journey, providing exclusive rewards and discount offers across categories like movies and dining. A key advantage is the 2x reward points earned on all international transactions. Cardholders can achieve significant savings through reward points, cashback, and discounts. However, as a basic card, it does not offer premium benefits such as travel lounge access, golf privileges, or extensive insurance benefits.

Important Product Details

• Earn 100 EDGE REWARD points on your first online transaction.
• Earn 6 Edge Rewards on every Rs. 200 spent on domestic purchases.
• Earn 12 Edge Rewards (2x) on international transactions.
• Get 25% cashback on movie tickets, with a maximum cap of Rs. 1,000 per calendar year.
• Receive a minimum of 15% off on dining at partnered restaurants in India.
• Benefit from spend-based waivers for both joining and annual fees.
• Enjoy a 1% fuel surcharge waiver, capped at Rs. 400 per month.
• The card offers high security with an EMV certified chip and PIN protection.
• Option to convert purchases over Rs. 2,500 into EMIs.
• Provides easy access to Visa’s International Global Card Assistance Services.
• The card is best suited for shopping.
• The reward type is Reward Points.

Other Details

• The Axis Bank Platinum Credit Card has been discontinued.
• Application Process: You can apply for the card either online via the Axis Bank’s official website (by navigating to 'Explore Products' > 'Cards' > 'Credit Cards' > 'Platinum Credit Card' and clicking 'Apply Now') or offline by visiting an Axis Bank branch and filling out a physical application form.
• Note for Platinum Advantage Credit Card Holders: Effective from January 1, 2012, the annual fee for Platinum Advantage Credit Card Holders was reduced to Rs. 200 from Rs. 500. Concurrently, cashback offers on dining and fuel spends were discontinued, while the 25% cashback on movie spends (with a limit of Rs. 1,000 per calendar year) and 1% surcharge waiver on fuel spends remained.
• Card member agreements and Most Important Terms (MITs) are applicable and available for review.