By Rajat Gaur
Updated On May 4, 2022

In an attempt to capitalize on the exponential growth in online transactions owing to the increasing internet penetration in the country, even more so during the pandemic, Axis bank launched their ACE credit card in collaboration with Google Pay and Visa. The card gives you very good returns on utility bill payments and recharges made via the Google Pay Android app and you also get a 4% cashback on popular food delivery apps like Zomato and Swiggy and on Ola rides. Since all these apps have majorly a young customer base, Axis Bank seems to be targeting young professionals with this credit card.

Along with the exclusive cashback offers, the Axis Bank Ace credit card comes with travel benefits, such as complimentary airport lounge access. Keeping the dining requirements of its customers in mind, the card provides a discount of up to 20% on dining. Read on to learn more about this offering by Axis Bank.

Best Suited For

Shopping |

Joining Fee

Rs. 499 (plus applicable taxes)

Reward Type

Cashback |

Product Details

  • 5% cashback on bill payments and mobile recharges on Google Pay.
  • 4% cashback on Zomato, Swiggy, and Ola.
  • 2% cashback on all other spends (with a few exceptions).
  • 4 complimentary domestic lounge visits every year.
  • 1% fuel surcharge waiver with a maximum cap of Rs. 500 per month.
  • A discount of up to 20% on dining.
  • Spend-based joining & annual fee waiver.

Rewards and Benefits

Welcome Benefits

N/A

Movie & Dining

Up to 20% off on dining at 4,000+ restaurants under the Axis Bank Dining Delights program.

Rewards Rate

5% cashback on bill payments & recharges via Google Pay, 4% cashback on Zomato, Swiggy & Ola, 2% cashback on all other spends.

Reward Redemption

Cashback is automatically credited to credit card.

Travel

Complimentary lounge access per year at domestic airports, accelerated (4%) cashback on Ola rides with Axis Bank Ace Card.

Golf

NA

Domestic Lounge Access

4 complimentary domestic lounge visits per year

International Lounge Access

NA

Insurance Benefits

NA

Zero Liability Protection

Cardmember not liable for any unauthorized transaction if loss of card reported within 3 days.

Fees & Charges

Joining Fee

Rs. 499 (plus applicable taxes)

Renewal Fee

Rs. 499 (plus applicable taxes)

Spend based Waiver

Joining fee reversed on spends of Rs. 10,000 within 45 days of card issuance, annual fee (2nd year onwards) waived on annual spends of Rs. 2,00,000.

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

3.5% (plus applicable taxes)

Interest Rates

3.4% per month (49.36% annually)

Fuel Surcharge

1% fuel surcharge waived for transactions between Rs. 400 and Rs. 4,000 (max waiver of Rs. 500/month).

Cash Advance Charge

2.5% of the withdrawn amount, subject to a minimum amount of Rs. 500.

Add-on Card Fee

Nil

Axis Bank ACE Credit Card Cashback:

  • You get a 5% cashback on utility bill payments (electricity, water, gas, LPG, and broadband), and DTH & mobile recharges via Google Pay. Offer applicable only if the payment is made via the Google Pay Android app using the ACE credit card.
  • You get a 4% cashback on Zomato, Swiggy, and Ola.
  • You get a 2% cashback on all other spends.
  • No cashback on certain categories of spends including fuel spends, purchases converted to EMI, wallet reloads, purchase of gold items, cash advances, payment of the card’s outstanding balances, and payment of card fees and other card charges.

Axis Bank ACE Credit Card Features and Benefits

Travel Benefits:

  • 4 complimentary lounge access every year to selected domestic airports.
  •  Accelerated (4%) cashback on Ola rides.

Dining Benefits:

  • Up to 20% off on dining bills at 4000+ restaurants under the bank’s Dining Delights program.
  • Accelerated (4%) cashback on Swiggy and Zomato.

Spends Based Waiver:

  • The joining fee is waived off on the expenditure of Rs. 10,000 within 45 days of card setup.
  • Annual membership fee waived off (second year onwards) on achieving an annual spend of Rs. 2,00,000 in the preceding year.

Fuel Surcharge Waiver:

  • 1% fuel surcharge waived off at all fuel stations across India for transactions between Rs. 400 and Rs. 4,000.
  • The maximum waiver is capped at Rs. 500 per month.

Axis Bank ACE Credit Card Fees & Charges

  • Annual Fee: Axis Bank charges a membership fee of Rs. 499 per annum for Axis Bank ACE Credit Card.
  • Interest Rate: If you are unable to clear all your dues by the payment due date, an interest rate of 3.4% per month (or 49.36% annually) is levied n the due amount on your card’s statement balance.
  • Cash Advance Fee: A cash advance fee of 2.5% of the withdrawn amount (subject to a minimum of Rs. 500) is applicable on cash withdrawals from ATMs with Axis Bank Ace Credit Card.
  • Foreign Currency Mark-up: A forex mark-up fee of 3.5% of the transaction amount is applicable on all foreign currency transactions made with Axis Bank Ace Credit Card.
  • Card Replacement Fee: In case you misplace/lose your credit card, Axis Bank will replace your card with a new one for free (no replacement fee applicable).

Advantages of Axis Bank ACE Credit Card

  • Axis Bank ACE Card offers a high reward rate of 5% on mobile/DTH recharges and bill payments via Google Pay and also a good reward rate of 4% on spends at Zomato, Swiggy and Ola.
  • ACE Credit Card entitles you to 4 complimentary lounge access at domestic airports across the country- a benefit that you do not get with most other entry-level credit cards.
  • One of the best features of the Axis Bank ACE Credit Card is that there is no max capping on the cashback that can be earned in a given payment cycle.
  • Although Axis Bank ACE Credit Card is not a lifetime free card- it comes with an annual fee of Rs. 499- the annual fee is waived off on a minimum expenditure of Rs. 2 lacs in the preceding year.

Drawbacks of Axis Bank ACE Credit Card

  • The card does not earn any cashback on certain categories of spends including fuel spends, wallet reloads, purchases converted into EMIs, gold items and cash advances.
  • The cashback earned at non-partner merchants (except Google Pay, Zomato, Swiggy and Ola) is just 2%.

Who should get Axis Bank ACE Credit Card?

You should consider applying for Axis Bank ACE Credit Card if-

  • You are looking for a cashback-based entry-level credit card and use Google Pay frequently for bill payments and mobile/DTH recharges.
  • You frequently dine in and order food online via Swiggy/Zomato.
  • You want an entry-level credit card that also provides the complimentary airport lounge access benefit.

You should look for a better alternative if-

  • You do not prefer Google Pay for mobile/DTH recharges and bill payments.
  • You make a lot of purchases on EMIs- as you do not get any cashback on EMI purchases.

Credit Cards Similar to Axis Bank ACE Credit Card

HDFC Millennia Credit Card and HDFC MoneyBack+ Credit Card are two credit cards that are very much similar to the Axis Bank ACE Credit Card in terms of the rewards and benefits that they offer-

Axis Bank ACE Credit Card HDFC Millennia Credit Card HDFC MoneyBack+ Credit Card
Reward Structure Cashback Cashback (credited as CashPoints) Cashback (credited as CashPoints)
Reward Points/Cashback 5% cashback on bill payments (electricity, gas, internet, etc.) and mobile and DTH recharge with the card via Google Pay.

4% cashback on Swiggy, Zomato and Ola.

2% cashback on all other spends with the card.
5% Cashback on Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber and Zomato.

1% cashback on all other spends.
2 CsashPoints per Rs. 150.

5x Points on purchases converted into EMIs.

10x CashPoints on Amazon, Flipkart, Swiggy, Reliance Smart Store.
Max Cap on Rewards/Cashback No max capping on cashback. Maximum 2,000 CPs in a month- 1,000 at 5% rate and 1,000 at 1% rate. Maximum 2,500 CPs at 5x rate and 2,500 CPs at 10x rate.

No max capping applicable on CPs earned at normal rate
Reward Points/Cashback Redemption Cashback is adjusted against the card’s statement balance. 1 CP = Re. 1 (cashback)

1 CP = Rs. 0.30 (product catalog)

1 CP = Rs. 0.30 (flight/hotel bookings via SmartBuy)

1 CP = Rs. 0.30 (AirMiles)
1 CP = Rs. 0.25 (cashback)

1 CP = Rs. 0.25 (product catalog)

1 CP = Rs. 0.25 (flight/hotel bookings via SmartBuy)

1 CP = Rs. 0.25 (AirMiles)
Milestone Benefits N/A Gift voucher worth Rs. 500 on quarterly expenditure of Rs. 50,000. Gift voucher worth Rs. 1,000 on quarterly expenditure of Rs. 1 lac.
Additional Benefits 4 complimentary domestic airport lounge access every year.

Up to 20% off at partner restaurants.
8 complimentary domestic airport lounge access every year (max 2 per quarter).

Up to 20% off at select restaurants.
Up to 15% discount at select restaurants.
Membership Fee Rs. 499 (plus GST) waived off on an annual expenditure of Rs. 2 lacs. Rs. 1,000 (plus GST), waived off on an annual expenditure of Rs. 1 lac. Rs. 500, waived off on an annual expenditure of Rs. 50,000.
Eligibility No minimum criteria stipulated by the bank. Minimum income of Rs. 35,000 per month for salaried employees and Rs. 6 lacs per annum for self-employed applicants Minimum income of Rs. 20,000 per month for salaried applicants and Rs. 6 lacs per annum for self-employed applicants.

ACE Credit Card Eligibility and Documentation

Axis Bank has not clearly stipulated any well-defined income criteria for the card. Although you must qualify the following basic eligibility conditions-

  • You must be within the age bracket of 18 years and 70 years.
  • You must be a resident of India.

Documents Required

In order for your credit card application to be processed, you need to submit the following documents to the bank-

  • Identity Proof: Aadhar Card, Voter ID, PAN Card, driving license, passport, etc.
  • Address Proof: Aadhar Card, Voter ID, driving license, passport, telephone/electricity bill.
  • Proof of Income: Salary slip (for salaried applicants) or ITR acknowledgment (for self-employed individuals)

How to apply for Axis Bank ACE Credit Card?

You can apply for the Axis bank ACE credit card by simply visiting the card’s home page and selecting the ACE credit card. You will be prompted to fill up a form and submit your application. The process will be smoother for you if you are already an Axis Bank customer. You will need a few documents to complete your application including identity proof (Aadhar card, Voter card, PAN card, etc.), an address proof (Aadhar card, PAN card, Voter card, driving license, etc.), and proof of income (salary slips, audited ITR acknowledgment).

Axis Bank ACE Credit Card Customer Care

Axis Bank has a dedicated helpline for their credit card customers. In case you need any assistance, or to report the loss of a card, you may dial 18604195555/18605005555. These numbers are operational 24×7. You can also block your card by simply sending an SMS- BLOCK to 5676782.

Conclusion

Considering the extra cashback benefits that it offers on Google Pay (bill payments only) and on other popular platforms like Zomato, Swiggy, and Ola at a nominal annual membership fee of Rs. 499, it certainly seems to be a decent entry-level credit card. On top of these cashback benefits, you also get 4 complimentary domestic lounge access, which very few entry-level cards offer. If you’re a noob and just planning to start your credit journey, you can certainly consider this one by Axis bank.

FAQs:

There is no upper limit to the cashback amount that can be earned in a given month.

You won’t get accelerated (5%) cashback on Google Pay iOS app (only Android app supported). However, you will earn the regular 2% cashback.

No. Fuel spends don’t earn you any cashback. However, you do get a waiver of 1% on the fuel surcharge for transactions between Rs. 400 and Rs. 4,000 (max cap of Rs. 500/month).

No. You earn 5% cashback only on bill payments (electricity, gas, internet, etc.) and mobile and DTH recharges processed via the Google Pay Android app.

No. You get only domestic lounge access with the ACE credit card.

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