Axis Bank Prestige Debit Card – Benefits, Fees & Eligibility

Introduction

The Prestige Debit Card, issued by Axis Bank, is a premium debit card specially designed for Prestige Savings Account holders. It positions itself as a high-value card with top-tier transactional privileges and comprehensive protection benefits. Key differentiators include up to 3% cashback on travel, shopping, and fuel; complimentary INOX movie tickets; and higher daily transaction limits of up to ₹1 lakh for withdrawals and ₹5 lakh for purchases.

Welcome Benefits

• Exclusive cashback offer of up to 3% on fuel, shopping, and travel purchases respectively.
• Complimentary movie ticket (Buy One, Get One up to ₹200) via INOX website, mobile app, and theatres.
• Accelerated reward earning with 2 EDGE REWARD points for every ₹200 spent on domestic and international transactions.
• Higher transactional limits: daily withdrawal limit of ₹1 lakh and daily purchase limit of ₹5 lakh.
• Special insurance cover of ₹10 lakh personal accident insurance for the cardholder and family.
• Complimentary domestic airport lounge access of 1 per quarter (subject to minimum eligible spend criteria).
• Dining benefits: INR 500 off and more via Axis Bank Dining Delights Program with EazyDiner.

Fees

• Primary Holder Issuance Fees: NIL.
• Joint Holder Issuance Fees: ₹500.
• Primary/Joint Holder Annual Fees: ₹500.
• Replacement Fee: ₹200.
• MyDesign charges: As per choice of image.
• Cross-currency mark-up: 3.5% on all international cash withdrawal and purchase transactions.
• Dynamic Currency Conversion (DCC) markup fee: 1% plus GST.
• Service tax applicable on all mentioned fees and charges.

Rewards

• Cashback categories:
  • 3% cashback on travel bookings (minimum transaction ₹1,000; max total applicable cashback ₹500 per month across all cashback categories).
  • 2% cashback on shopping at select merchant categories (minimum transaction ₹1,000; max total applicable cashback ₹500 per month across all cashback categories).
  • 1% cashback on fuel transactions across any fuel stations (minimum transaction ₹1,000; max total applicable cashback ₹500 per month across all cashback categories).
• EDGE REWARD points:
  • Earn 2 EDGE REWARD points for every ₹200 spent on domestic and international transactions.
  • Points are not awarded on cashback categories and certain merchant categories including charities, Mutual Funds, telecom bills, educational fees, utility bills, government insurance or public sector life insurance purchases, purchase of foreign currency, post office payments, and fuel and transportation cost.
• Complimentary domestic airport lounge access: 1 per quarter (minimum eligible spend of ₹5,000 in the previous 3 calendar months; waived for the month of issuance and following 3 months for newly issued cards).
• Dining: INR 500 off and more via Axis Bank Dining Delights Program with EazyDiner.
• Insurance benefits:
  • Personal accident insurance coverage up to ₹10 lakh.
  • Air accident insurance coverage up to ₹1 crore.
  • Price protection up to ₹50,000.
  • Purchase protection up to ₹50,000.
  • Insurance coverage on baggage loss/checked-in baggage and baggage delay up to USD 500.
• Security and convenience:
  • Contactless payments with increased payment limit up to ₹5,000.
  • Chip and PIN enabled card for enhanced security.
  • International usage enabled for transactions worldwide, including international websites.

Rewards Redemption Guide

• Cashback redemption process and related terms and conditions are detailed in the Prestige Cashback Redemption Terms and Conditions document.
• EDGE REWARD points structure and redemption details are outlined in the Axis Bank EDGE REWARD structure; changes effective from 15th June 2022 are noted in the frequently asked questions document.
• For specific redemption steps and eligible options, refer to the respective terms and conditions documents provided.

Card Eligibility Criteria

• The Prestige Debit Card is exclusively designed for Prestige Savings Account holders.
• Documentation is required as per Prestige Account holder criteria.

Card Review

• Ideal for Prestige Savings Account holders seeking a premium debit experience with high transaction limits, robust rewards, and comprehensive insurance.
• Pros:
  • High cashback percentages across travel, shopping, and fuel.
  • Complimentary movie tickets and dining discounts.
  • Strong insurance suite including personal accident, air accident, price protection, and purchase protection.
  • Elevated daily withdrawal and purchase limits.
  • Complimentary domestic lounge access.
• Cons:
  • Annual and issuance fees apply for joint holders and primary holders.
  • Cashback and rewards have category exclusions and monthly caps.
  • Lounge access is limited to once per quarter with minimum spend conditions.
• Value: Strong for users who can maximize cashback and insurance benefits while utilizing elevated limits and lounge access.

Important Product Details

• Cashback offers up to 3% on travel, shopping, and fuel with monthly cap of ₹500 across categories.
• Complimentary INOX movie ticket (Buy One, Get One up to ₹200).
• 2 EDGE REWARD points per ₹200 spent (excludes certain categories).
• Daily withdrawal limit: ₹1 lakh; daily purchase limit: ₹5 lakh.
• Insurance coverage: ₹10 lakh personal accident, ₹1 crore air accident, price protection and purchase protection up to ₹50,000 each, baggage loss/checked-in baggage and delay up to USD 500.
• Fees: Primary issuance free; joint issuance ₹500; annual fee ₹500; replacement ₹200; MyDesign as per image; 3.5% cross-currency markup; 1% DCC markup plus GST.
• Complimentary domestic airport lounge access: 1 per quarter (minimum spend ₹5,000 in prior 3 months, waived for issuance month and next 3 months for new cards).
• Contactless payment limit up to ₹5,000; Chip and PIN enabled; international usage enabled.
• Terms and conditions updates effective 1st May 2024; EDGE REWARD structure revised effective 15th June 2022.

Other Details

• Terms and Conditions, insurance terms and conditions, and specific benefit T&Cs apply as referenced in respective documents.
• Any variations in mentioned benefits will be communicated to respective customers via email on their registered email ID.
• Card blocking options available via SMS, emergency helpline, customer care, and internet banking.
• Disclaimer: Card not to be used for collecting/remitting payments directly or indirectly outside India for overseas foreign exchange trading; contravention may attract liability under FEMA, 1999 and KYC/AML regulations.