Axis Bank Privilege Credit Card – Benefits, Fees & Eligibility

Axis Bank Privilege Credit Card

Introduction

The Axis Bank Privilege Credit Card is designed to offer customers exclusive travel and shopping experiences, rewarding them with attractive benefits across various categories. For priority banking customers, the card is lifetime free, while for others, a joining fee of ₹1,500 is applicable. Cardholders can earn valuable EDGE Reward Points on their spending, alongside complimentary airport lounge access and special dining discounts. The card also offers a renewal fee waiver upon achieving specific annual spending thresholds, making it a rewarding choice for those seeking a credit card with comprehensive features.

Welcome Benefits

• Receive 12,500 EDGE Reward Points, valued at ₹2,500, redeemable against vouchers.
• This benefit is granted upon the levy of joining fees and completion of the first transaction within 30 days of card issuance.
• To be eligible for welcome benefits, cardholders must make 3 transactions within the first 60 days after card issuance.
• Free cards, first year free cards, and priority segment customers are not eligible for this activation benefit.

Fees

• Standard Joining Fee: ₹1,500 + GST. This fee is waived for First-Year Free Cards on Visa Network during selected promotional periods. For AmEx variant, it is Lifetime Free for a limited time.
• Standard Annual Fee (2nd year onwards): ₹1,500 + GST. This fee is waived upon achieving annual spends of ₹5 lakhs in a card anniversary year. Spends threshold for annual fee waiver will exclude transactions made on Utility & Telecom, Rent, Wallet, Government services, Insurance, Gold & Jewellery, Fuel, and Educational services.
• Standard Add-on Card Joining Fee: Nil
• Standard Add-on Card Annual Fee: Nil
• Finance Charges (Retail Purchases & Cash): 3.75% per month (55.55% per annum).
• Cash Withdrawal Fees: 2.5% of the cash amount, with a minimum of ₹500.
• Fee for Cash Payment: ₹175.
• Card Replacement Fee: Nil.
• Duplicate Statement Fee: Waived.
• 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 is applicable on missing payment of Minimum Amount Due (MAD) by the due date for two consecutive cycles, continuing until MAD is cleared.
• Over Limit Penalty: 2.5% of the overlimit amount, with a minimum of ₹500.
• Charge Slip Retrieval Fee or Copy Request Fee: Waived.
• Outstation Cheque Fee: Waived.
• Cheque Return or Dishonor 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.
• Fuel Transaction Surcharge: 1% of the transaction amount. This is refunded for fuel transactions between ₹400 and ₹4,000. Maximum benefits are capped at ₹400 per statement cycle. Service tax charged on fuel surcharge is non-refundable. The fuel surcharge may be levied as INR 10 + GST instead of 1% + GST in certain cases. Only applicable for fuel MCC 5541, 5542, 5983.
• Foreign Currency Transaction Fee: 3.50% of the transaction value + GST.
• Rent Surcharge Fee: 1% of the rental transaction amount, plus GST. Applicable on transactions identified through Merchant Category Code 6513, effective from December 20, 2024.
• Wallet Load Transaction Fee: 1% fee on cumulative spends of ₹10,000 or more on wallet loads per statement cycle.
• Fuel Transaction Fee (Cumulative): 1% fee on cumulative spends of ₹50,000 or more on fuel transactions per statement cycle.
• Education Transaction Fee: 1% fee on education payments made via third-party apps.
• Utility Transaction Fee: 1% fee on cumulative spends of ₹25,000 or more on utilities per statement cycle.
• Online Skill-based Gaming Transaction Fee: 1% fee on cumulative spends of ₹10,000 or more on online skill-based gaming platforms in a statement cycle.
• Dynamic Currency Conversion (DCC) Markup Fee: 1.5% of 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, plus taxes. Not applicable on Burgundy Private Credit Card. Effective from December 20, 2024.
• Mobile Alerts for Transactions: Waived.
• Hotlisting Charges: Waived.
• Balance Enquiry Charges: Waived.
• Reward Redemption Fee: Applicable.
• GST, as notified by the Government of India, is applicable on all fees, interest, and other charges, and is subject to change.

Rewards

• Rewards Rate: Earn 10 EDGE Reward Points on every ₹200 spent on the credit card, both domestically and internationally (equivalent to a 1% reward rate).
• Reward Exclusions: Spends on Insurance, rent, fuel, educational services, utilities, and government Merchant Category Codes (MCCs) will not be eligible for earning EDGE REWARDS. EDGE REWARD Points will be debited for credit card transactions converted to EMI; points will not be credited back for the original transaction upon EMI cancellation.
• Milestone Benefit:
  • Receive an additional 10,000 EDGE Reward Points (worth ₹2,000) upon achieving a spending milestone of ₹2.5 lakhs in a card anniversary year.
  • Transactions made on Utility & Telecom, Rent, Wallet, Government services, Insurance, Gold & Jewellery, Fuel, and Educational services will not count towards this spending threshold.
• Movies:
  • Enjoy a "Buy One Get One" offer on movie tickets.
  • Get a 100% discount on your second movie ticket booked via the District app using your card.
  • The offer provides up to ₹250 off and is valid once a month.
  • Apply the code AXISPRIVILEGE to get this discount. The offer will be valid starting June 20, 2025.
  • A minimum purchase of two movie tickets via the District app is required.
• Dining:
  • Enjoy exceptional dining experiences at top restaurants across India with the Axis Bank Dining Delights Program.
  • Get up to a 15% discount (up to ₹500) at more than 4,000 partner restaurants through the Axis Bank Dining Delights program.
• Travel (Lounge Access):
  • Receive 2 complimentary access passes per calendar quarter to select domestic lounges.
  • Eligibility requires a minimum spend of ₹50,000 in the prior three months to avail lounge access.
  • There is no international lounge access benefit with this card.
• Fuel Surcharge Waiver: Fuel surcharge refund is available on spends at all fuel stations across India. Valid on transactions between ₹400 and ₹4,000 only. Maximum benefits are up to ₹400 per statement cycle. No reward points are earned on fuel transactions.
• Insurance Benefits: Keep yourself, your family, and assets safe with comprehensive insurance coverage:
  • Purchase Protection Plan: Up to ₹1 Lakh.
  • Credit Shield: ₹1 Lakh.
  • Loss Travel Document Cover: Up to US $300.
  • Delay of Check-In Baggage Cover: Up to US $300.
  • Loss of Check-In Baggage Cover: Up to US $500.
• Lifestyle (Wednesday Delight): Beat mid-week blues with exciting offers every Wednesday:
  • Instant savings of up to 15% on flights & hotels via MakeMyTrip.
  • 10% off on orders via Swiggy.
  • 10% off up to ₹1,000 on Tira.

Rewards Redemption Guide

• EDGE Reward Points can be redeemed against a wide variety of products and vouchers available in the Axis EDGE REWARDS Catalogue.
• The value of 1 EDGE Reward Point is ₹0.20 when redeemed against a variety of products and vouchers.
• EDGE Reward Points can also be transferred to various partners, including SpiceJet, AirAsia, and ITC, among others.
• Conversion Ratios for Partner Points:
  • SpiceJet, AirAsia, and ITC: 5 EDGE Points = 1 Partner Point.
  • All Other Partners: 10 EDGE Points = 1 Partner Point.

Card Eligibility Criteria

• Age:
  • Primary Cardholder: Should be between 18-70 years of age.
  • Add-on Cardholder: Should be over 15 years of age.
• Residency: The individual should be a Resident of India.
• Income: The applicant's annual income should be ₹6 lakhs or more.
• Discretion: The bank reserves the right to approve or decline applications for the credit card, as the above criteria are only indicative.

Documents Required

• PAN Card: Photocopy of PAN Card or Form 60.
• Proof of Income: Latest payslip / Form 16 / IT Return.
• Residence Proof: Driving License / Electricity Bill / Landline Telephone Bill.
• Note: The above list is only indicative; documents required may vary on a case-to-case basis.

Card Review

The Axis Bank Privilege Credit Card stands out as a strong contender for individuals who prioritize shopping and travel benefits. It offers a rewarding experience, comparable to other premium cards in its segment. A key highlight is the welcome gift of 12,500 EDGE Reward Points, which effectively offsets the joining fee for those who opt for the fee variant. Beyond the initial perks, cardholders enjoy a suite of travel and dining privileges, including complimentary domestic airport lounge access and exclusive discounts at partner restaurants, enhancing luxury experiences. The card also provides significant savings opportunities through its spend-based renewal fee waiver and a 1% fuel surcharge waiver. With consistent reward offers and benefits spanning multiple categories, the Axis Bank Privilege Credit Card presents itself as a great choice for a wide range of consumers seeking a feature-rich credit card.

Pros

• For cardholders who choose the fee variant, welcome benefits valued at ₹2,500 are provided for a joining fee of ₹1,500, significantly benefiting the user and offsetting the charges.
• Offers a decent rewards rate of 10 EDGE Reward Points on every ₹200 spent.
• Includes comprehensive insurance benefits for purchase protection, credit shield, and travel.
• Provides opportunities for significant annual savings through various benefits and waivers.

Cons

• The card does not offer any international lounge access, which may be a drawback for frequent international travelers.
• Domestic lounge access is conditional on spending ₹50,000 or more in the preceding three months, which can be restrictive.

Important Product Details

• Total Annual Savings Potential: The card offers potential annual savings exceeding ₹27,600 (for illustrative purposes).
• Value Chart on Annual Spends of Rs. 2,91,000:
  • Shopping or Travel Vouchers on Welcome: ₹2,500.
  • Complimentary access to selected domestic lounges (2 times per calendar quarter, if availed once every quarter): ₹6,000 (assumes ₹1,500 per visit).
  • Rewards on Annual Spends (Milestone Benefit on ₹250,000 spend): ₹2,000.
  • Dining discounts (25% off up to ₹800 at select fine dining restaurants using Axis Bank Exclusive Dining Program with EazyDiner, on ₹16,000 annual spends, assuming two visits per quarter): ₹3,200.
  • 1% Fuel Surcharge Waiver on monthly fuel spends (on ₹25,000 annual spends): ₹250.
  • Buy one get one offer on movie tickets: ₹3,000.
  • Sub Total Savings: ₹12,450.
  • Sub Total Value of Axis EDGE Reward Points: ₹4,500.
  • Total Annual Savings: ₹16,950.00.
• Key Highlights:
  • Earn 10 EDGE Reward Points on every ₹200 spent.
  • Up to 25% discount on dining through the Axis Bank Dining Delights program (up to ₹800).
  • Complimentary domestic lounge access (2 per quarter, with prior spend condition).
  • Spend-based renewal fee waiver (on ₹5 lakhs annual spend).
  • Insurance benefits across several categories.
  • 1% fuel surcharge waiver (capped at ₹400 per month).

Other Details

• The terms and conditions of Axis Bank Privilege Credit Card will be updated effective June 20, 2025.
• Specific offers for the Amex Privilege variant may also be available.