What are the chances that two leading credit card issuers use the same name for their cards? Slim to none. But here we have a brand name that both HDFC Bank and Axis Bank use – Diners Club Privilege and Axis Bank Privilege. The Axis Bank Privilege is a mid-segment offering that comes with decent rewards and benefits. It also has an amazing feature that can boost the rewards on your other Axis Bank credit cards. 🙂 Here is a review of the Axis Bank Privilege credit card and everything you need to know about it.
Fees and Charges
| Joining and Annual Fee | Rs 1500 plus taxes (FYF for Priority Accounts) |
| Welcome Gift | 12500 EDGE Reward Points if joining fee is paid ~Rs 5000 Value 6250 EDGE Reward Points if joining fee is waived ~Rs 2500 Value |
| Renewal Benefit | 3000 EDGE Reward Points ~Rs 1200 Value (if the fee is charged) |
| Annual Fee Waiver | On spends of Rs 2.5 Lakhs in a membership year |
The normal value of 1 EDGE Reward is 20 paise. But with Privilege, we can get a 40-paise value for selected redemptions. More on this in the rewards section.
Rewards
- 10 EDGE Reward Points for every Rs 200 spend ~1% to 2% return
While the base reward rate seems low, we have Axis Bank Grab Deals to get a higher return on spending. Here are some ways:
- 5X Rewards on Amazon/Flipkart vouchers on GIFT EDGE ~5% to 10% return
- 5X Rewards on Croma, TataCLIQ ~5% to 10% return
- 10X on Myntra purchases ~10% to 20% return
Excluded Transactions for Rewards
× Fuel
× Rent
× Utilities
× Educational Services
× Government Institutions
Rewards Redemption
- The rewards can be redeemed from the Axis Bank EDGE Rewards Portal. Each EDGE Reward Point is worth Rs 20 paise for these redemption options. We have Amazon and Flipkart gift vouchers for redemption as well.
- The USP of the Privilege card is what Axis Bank calls a ‘multi-brand voucher’. The normal value of an EDGE Reward point is 20 paise when redeemed for awards like an Amazon GV. For Privilege, we have the option to get a multi-brand voucher worth Rs 5000 for 12500 EDGE Reward points. This boosts the value of 1 EDGE Reward point to 40 paise
- The brands available against the Multi-Brand voucher are below. Myntra, Shoppers Stop, and fashion vouchers can be useful. We can redeem points on the EDGE Rewards portal.
Online: Shoppers Stop, Myntra, Prestige/BB Star
OTT: Zee 5, Sony LIV
Dining: Pizza Hut, Costa Coffee
Fashion: Louis Philippe, Vero Moda, The Raymond Shop, W for Woman, United Colors of Benetton, Levi’s, Woodland, Puma, Lifestyle, Bata, Hidesign, Hush Puppies, Aldo
Beauty & Healthcare: The Body Shop, Kama Ayurveda, Apollo Pharmacy
Complimentary Airport Lounge Access
We get 2 complimentary domestic airport lounge visits per quarter. The list of eligible lounges is in this list.
Final Thoughts
- Planned redemption is the multi-brand voucher where we get a higher return
- You can use Grab Deals to get accelerated rewards
Frequently Asked Questions
Are all spends included for milestone benefit?
No, rent and wallet spends will not be included as eligible spends for calculating milestone spends.
Are all spends included for annual fee waiver calculation?
No, rent and wallet spends will not count as eligible spends for annual fee waiver calculation.
