Axis Bank Rewards Credit Card – Benefits, Fees & Eligibility

Introduction

The Axis Bank Rewards Credit Card, issued by Axis Bank, is positioned as a mid-range credit card designed for individuals seeking substantial rewards on their everyday spending. Its primary differentiating benefits include accelerated 10X EDGE Reward Points on departmental and apparel store purchases, significant discounts on Swiggy food orders, and a valuable welcome benefit of 5,000 EDGE Reward Points. The card also offers complimentary domestic lounge access, dining privileges, and comprehensive insurance coverage, making it a suitable choice for avid shoppers and foodies.

Welcome Benefits

• Get 5,000 EDGE Reward Points on cumulative net spends of ₹1,000 or more within 30 days of card issuance. These reward points are worth ₹1,000, effectively offsetting the joining fee.
• Customers who swap their existing Axis Bank card for the Rewards credit card are not eligible for the welcome benefit.

Fees

• Joining Fee: ₹1,000 + GST
• Renewal Fee: ₹1,000 + GST
• Spend-Based Waiver: The renewal fee is waived off on spending ₹2 Lakhs or more in the card anniversary year.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% of the Transaction Value
• Interest Rates (Finance Charges): 3.75% Per Month or 55.55% Per Annum
• Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹400 and ₹5,000 at all fuel stations across India. The maximum benefit is ₹400 per statement cycle. GST charged on the fuel surcharge is non-refundable. No reward points are earned on fuel transactions.
• Cash Advance Charges: 2.5% of the Amount Withdrawn or ₹500, whichever is higher.
• Add-on Card Joining Fee: Nil
• Add-on Card Annual Fee: Nil
• Fee for Cash Payment: ₹175
• Card Replacement Fee: Nil
• Duplicate Statement Fee: Waived
• Overdue Penalty or Late Payment Fee:
  • Nil if outstanding amount is less than ₹500.
  • ₹500 if outstanding amount is between ₹501 and ₹5,000.
  • ₹750 if outstanding amount is between ₹5,001 and ₹10,000.
  • ₹1,000 if outstanding amount is greater than ₹10,001.
  • An additional charge of ₹100 will be levied if the Minimum Amount Due (MAD) payment is not made prior to the Payment Due Date (PDD) for two consecutive billing periods.
• Overlimit Penalty: 2.5% of the over-limit amount (Minimum ₹500).
• Charge Slip Retrieval 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.
• Mobile Alerts for Transactions: Waived
• Balance Enquiry Charges: Waived

Rewards

• Reward Points Accrual:
  • Unlimited 2 EDGE Reward Points on every ₹125 spent on all eligible spends.
  • Accelerated 10X EDGE Reward Points (total 20 Edge Rewards) on every ₹125 spent at departmental and apparel stores.
  • Accelerated reward points are capped at 1,008 points per month on spending a maximum of ₹7,000 in specific categories. On spending over ₹7,000, reward points are earned at the normal rate.
  • Spends on utilities, insurance, wallet reloads, rent, fuel, transportation, tolls, government, and educational institutions do not earn reward points.
  • Reward points are credited automatically to the cardholder’s EDGE account.
• Milestone Benefits:
  • Get 1,500 EDGE Reward Points on net spends of ₹30,000 or more every card statement cycle.
  • EMI transactions, wallet, rent, and cash withdrawal transactions are not eligible for the milestone benefit.
• Membership Benefits:
  • Enjoy a bouquet of memberships worth up to ₹1,000 every card anniversary year.
  • Eligible customers will receive the membership link via SMS on their registered mobile number within 60 days of becoming eligible, after payment of the card renewal fee.
  • The membership benefit is not available to those who have a lifetime free card.
• Movie & Dining:
  • Get an exclusive 30% off on Swiggy orders by using the “AXISREWARDS” coupon code. A minimum order value of ₹500 is required for the offer, with a maximum discount of ₹150. The offer is available twice per month.
  • Avail a 15% discount up to a maximum of ₹500 at various partner restaurants across India through the Dining Delights Program. Cardholders should notify the restaurant about their Rewards credit card before the bill is generated.
• Domestic Lounge Access:
  • Cardholders get 2 complimentary domestic lounge accesses every quarter at select domestic airports.
  • Eligibility for free domestic lounge access in the next quarter requires a minimum spend of ₹50,000 in the previous quarter. This criterion is waived for the first three months for newly issued cards.
• International Lounge Access: Not provided with this card.
• Golf Benefits: Not provided with this card.
• Insurance Benefits:
  • ₹1 Lakh Purchase Protection Cover for the cardholder.
  • $300 cover for loss of travel documents and check-in baggage delay.
  • $500 cover for loss of check-in baggage.
  • ₹1 Lakh Credit Shield for the cardholder.
• Wednesday Delight:
  • 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

• 1 EDGE Reward Point = ₹0.20.
• Cardholders can redeem their EDGE reward points through mobile or net banking on the product catalog listed on the EDGE platform. A minimum of 300 reward points are needed for any redemption.
• Cardholders can convert or transfer their EDGE reward points to partner miles or points at a rate of 10 RP = 1 Partner Mile/Point.
• Cardholders can redeem their reward points through Pay with Points via SMS at online and offline merchants on eligible transactions. The redemption rate is 1 RP = 20 paise, and a minimum of 300 reward points are needed for this type of redemption.
• Cardholders can redeem their reward points online using mobile or net banking through Online Pay with Point Redemption. The redemption rate is 1 RP = 20 paise, and a minimum of 300 reward points are needed for this type of redemption.

Card Eligibility Criteria

• Eligibility Rules:
  • The primary cardholder must be between 18 and 70 years old.
  • The applicant must have a stable income source.
  • The applicant must be a Resident of India.
• Documents Required:
  • PAN Card photocopy or Form 97.
  • Proof of income: Latest payslip / Form 16 / IT return copy.
  • Residence proof: Passport / Ration Card / Electricity bill / Landline telephone bill.
  • Please note that this list is indicative, and documents required may vary on a case-to-case basis.

Card Review

The Axis Bank Rewards Credit Card is an excellent choice for individuals who frequently shop, especially at departmental and apparel stores, and enjoy dining out. It offers a robust rewards program with accelerated points on specific categories and a decent base reward rate on all other eligible spends. The card's annual fee of ₹1,000 + GST is reasonable, especially considering it can be waived by spending ₹2 Lakhs annually. The welcome benefit, monthly milestone rewards, and annual membership benefits further enhance its value proposition. While it lacks international lounge access and golf benefits, its strong focus on shopping and dining rewards, coupled with insurance benefits and fuel surcharge waiver, makes it a rewarding option for its target audience.

Important Product Details

• Welcome benefit of 5,000 EDGE reward points (worth ₹1,000).
• 2 EDGE reward points on every spend of ₹125.
• Accelerated 10X EDGE reward points on every spend of ₹125 on departmental and apparel stores (capped at 1,008 accelerated points per month).
• Membership benefits worth ₹1,000 per card anniversary year.
• 30% off on Swiggy orders (max ₹150, twice a month) and 15% off at partner restaurants with the Dining Delights Program (max ₹500).
• 2 complimentary domestic airport lounge accesses per quarter, subject to spending ₹50,000 in the previous quarter (waived for first 3 months for new cards).
• 1% fuel surcharge waiver with a maximum benefit of ₹400 every statement cycle.
• ₹1 Lakh purchase protection cover and cover for loss of travel documents and baggage.
• 1,500 EDGE reward points on spending ₹30,000 or more every card statement cycle.

Other Details

• The terms & conditions of Axis Bank Rewards credit card will be updated with effect from 20th June, 2025.
• An illustrative value chart suggests total annual savings of more than ₹22,000 on annual spends of ₹2,00,000, based on certain assumptions:
  • Welcome Benefit: ₹1,000
  • Complimentary access to selected Domestic Lounges (if offer availed 2 times a quarter, assumed cost ₹1,500/visit): ₹12,000
  • Swiggy Discounts (twice a month on minimum order value of ₹200): ₹3,600
  • Rewards on Annual Spends (₹1,50,000, excluding restricted categories): ₹480
  • Accelerated Rewards of 10X (on ₹1,00,000 spends): ₹2,880
  • Milestone Benefit (₹30,000 per month achieved 3 times a year): ₹900
  • Bouquet of Membership Benefits: ₹1,000
  • Fuel Surcharge (on ₹20,000 spends): ₹200
  • The redemption value of each EDGE Reward Point is ₹0.20.