Samsung Axis Bank Infinite Credit Card – Benefits, Fees & Eligibility

Introduction

The Samsung Axis Bank Infinite Credit Card is a premium co-branded credit card offered by Axis Bank in collaboration with Samsung, an electronics corporation. This card is specifically designed to provide extensive benefits for Samsung shoppers, offering 10% cashback on Samsung product purchases. Beyond Samsung-specific advantages, it welcomes new cardholders with 30,000 EDGE Reward Points and provides excellent travel benefits, including complimentary domestic and international airport lounge access, along with dining privileges.

Welcome Benefits

• Receive 30,000 EDGE Reward Points upon making 3 successful transactions within 30 days from the card issuance date. The points will be credited to the cardholder’s EDGE Loyalty account within 60 days of fulfilling the condition.

Fees

• Joining Fee (Primary Card): ₹5,000 + GST
• Joining Fee (Add-on Card): Waived
• Annual Fee (Primary Card): ₹5,000 + GST (from 2nd year onward)
• Annual Fee (Add-on Card): Waived
• Spend-Based Waiver: The annual fee of ₹5,000 is waived if you spend ₹7 Lakh or more in the previous year. Rent transactions (MCC 6513) and wallet load transactions (MCC 6540) are not eligible for spends counted in availing the annual fee waiver.
• Rewards Redemption Fee:
  • ₹99 + GST per transaction on the EDGE REWARDS platform.
  • ₹199 per transaction for converting or transferring EDGE REWARDS Points to partner loyalty programs.
• Foreign Currency Markup: 3.5% of the transaction amount.
• Dynamic Currency Conversion (DCC): 1.5% markup plus taxes will be applicable for international transactions performed in Indian currency at international locations or transactions performed in Indian currency with merchants located in India but registered in a foreign nation.
• Interest Rates (Finance Charges): 3.75% per month (55.55% per annum) on retail purchases and cash advances.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on fuel transactions between ₹400 and ₹5,000, capped at ₹500 per statement cycle (or per month). GST on fuel surcharge is non-refundable.
• Cash Advance Charges: 2.5% of the amount withdrawn or a flat ₹500, whichever is higher (Minimum ₹500).
• Late Payment Fees:
  • 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 charge will be levied if the 'Minimum Amount Due (MAD)' is not paid for two consecutive cycles and will apply until the MAD is cleared.
• Over Limit Penalty: 2.5% of the over limit amount (Minimum ₹500).
• Cheque Return or Dishonor Fee or Auto-debit Reversal: 2% of the payment amount, subject to a minimum of ₹500.
• Rent Transaction Fee: 1% per transaction will be applicable on each rental transaction (MCC 6513), plus GST.
• Transaction Fees:
  • A transaction fee of 1% will be applicable on education payments made via third-party apps. Payments and transactions made directly through education institutional websites or their POS machines will not incur this fee.
  • Cumulative spends exceeding ₹10,000 on wallet loads, ₹50,000 on fuel, ₹25,000 on utilities, and ₹10,000 on online skill-based gaming platforms within a statement period will attract a 1% transaction fee.
• Card Replacement Fee: ₹100 (for Primary and Add-on Cards).
• Cash Payment Fee: ₹175.
• Duplicate Statement Fee: Waived.
• Charge Slip Retrieval Fee or Copy Request Fee: Waived.
• Mini Statement SMS: Waived.
• Outstation Cheque Fee: Waived.
• Transaction Alert SMS: Waived.
• Balance Enquiry Charges: Waived.
• GST: As per existing Government norms.

Rewards

• Cashback on Samsung Purchases:
  • Get 10% cashback on all purchases made for Samsung Products at physical stores and Samsung service centers, including EMI transactions.
  • The cashback earned will be credited to the Card’s statement balance within 60 days of the transaction date.
  • Maximum cashback is capped at ₹5,000 in one calendar month and ₹20,000 in the whole year.
• Accelerated EDGE REWARD Points:
  • 15 EDGE REWARD Points per ₹100 spent on BigBasket, Tata1mg, UrbanCompany, Zomato, and Myntra.
  • 15 EDGE REWARD Points per ₹100 spent on all international transactions.
  • 5 EDGE REWARD Points per ₹100 spent on all other domestic transactions.
• Reward Point Exclusions: EDGE Points are not applicable to transactions such as fuel, EMIs (non-Samsung purchases), wallet loading, cash advances, jewellery purchases, insurance, education, telecom, utility payments, government transactions, outstanding balance payments, and rental payments.
• Dining Benefits:
  • Enjoy a 1-year complimentary EazyDiner Prime Membership. The membership is subject to activation of the card within 30 days from the date of issuance. The bank will share a unique membership code with the credit card welcome kit; activate by entering the code in the EazyDiner application under "Have Prime Activation Code".
  • Avail 15% off up to ₹500 on dining bills, once per month, at 4000+ partner restaurants in India, with a minimum order value of ₹2,500.
• Travel Benefits:
  • Domestic Lounge Access: Enjoy 8 complimentary lounge visits per calendar year at select domestic airports. Access to domestic airport lounges will be based on a minimum eligible spend of ₹50,000 in the previous 3 months (effective May 01, 2024).
  • International Lounge Access: Get complimentary Priority Pass Membership (worth $99) with 6 complimentary international airport lounge visits each year. The complimentary Priority Pass membership can be activated upon making one successful transaction within the first 30 days of the card issuance date.
• Convert Purchases to EMI: Convert transactions of ₹2,500 or more into easy EMIs by contacting the bank.

Rewards Redemption Guide

• EDGE Reward Points earned with the Samsung Axis Bank Infinite Credit Card are redeemable for vouchers, gifts, products, etc., on the Axis EDGE REWARDS redemption portal.
• 1 Edge Reward Point = ₹0.20.
• EDGE Points can also be transferred to partner Airlines/Hotels Rewards Programs, subject to a fee of ₹199 per transaction.

Card Eligibility Criteria

• Age: The primary cardholder should be between 18 and 70 years of age.
• Residency: The individual must be a Resident of India.
• Income: The applicant should have a good and stable income.
• Documents Required:
  • PAN card photocopy or Form 97.
  • Colour photographs.
  • Proof of income: Latest payslip / Form 16 / IT return copy.
  • Residence proof (any one of the following): Passport, Driving License, Voter ID Card, Aadhaar card.
  • Identity proof (any one of the following): Passport, Driving License, Voter ID Card, Aadhaar card, PAN card.
• Note: These criteria are indicative, and documents required may vary on a case-to-case basis. The bank reserves the ultimate right to approve or decline applications.

Card Review

The Samsung Axis Bank Infinite Credit Card is positioned as a premium offering, particularly beneficial for individuals who frequently purchase Samsung products, owing to its substantial 10% cashback on such spends. Beyond its core Samsung-centric advantage, the card provides a robust suite of lifestyle and travel benefits, including complimentary access to both domestic and international airport lounges, a complimentary EazyDiner Prime Membership for dining discounts, and accelerated reward points on popular brands like Zomato, Myntra, and BigBasket. While the card carries a significant annual fee, it offers a spend-based waiver, making it a valuable proposition for high-spenders who can leverage its diverse reward structure and premium perks.

Important Product Details

• 30,000 EDGE Reward Points as a welcome benefit upon meeting initial transaction criteria.
• 10% cashback on all Samsung purchases, capped at ₹5,000 per month and ₹20,000 per year.
• Up to 15 EDGE Reward Points for every ₹100 spent on preferred partners and international transactions.
• 8 complimentary domestic airport lounge visits per year, subject to a minimum spend of ₹50,000 in the previous three months.
• Priority Pass Membership with 6 complimentary international airport lounge visits per year.
• Complimentary 1-year EazyDiner Prime Membership and 15% off on dining bills at partner restaurants.
• 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000, capped at ₹500 per month.
• Annual fee of ₹5,000 + GST, with a waiver on spending ₹7 Lakh or more in the previous year (excluding rent and wallet load transactions).
• High foreign currency markup of 3.5% and a Dynamic Currency Conversion markup of 1.5% plus taxes.
• Reward points are not earned on several transaction categories including fuel, wallet loads, and rent payments.
• A redemption fee of ₹99 + GST applies for EDGE REWARDS points, and ₹199 for transferring points to partner loyalty programs.

Other Details

• The Samsung Axis Bank Infinite Credit Card is currently not accepting applications.
• Add-on credit cards can be obtained for family members with no annual or joining fee.
• Transactions above ₹2,500 can be converted into Easy EMIs.