Axis Bank Ace Credit Card – Bonus Cashback Limited to Rs. 500/month

The ACE credit card by Axis Bank was launched in partnership with Visa and Google Pay in a bid to capitalize on the growth of online payments and heavy internet usage in India after the COVID-19 pandemic. The card offers great cashback on bill payments via Google Pay app, partner merchants, and other purchases, making it a nice credit card choice for young professionals.

The ACE credit card also provides cardholders with complimentary domestic lounge access and exclusive dining discounts at premium restaurants across the country. Recently, Axis Bank announced revisions to the cashback terms and conditions of the ACE credit card, which will come into effect from 15th June 2023. Read on to know more about the new terms and conditions.

Axis Bank ACE Credit Card Cashback Terms

Axis Bank ACE Credit Card – Revised Terms and Conditions

Axis Bank has announced some revisions to the ACE credit card which will take effect from 15th June 2023. All spends made by you, excluding refunds and returns, will be eligible for cashback based on the following terms –

  • 5% cashback on water, gas, electricity, broadband, LPG, DTH, and mobile recharge payments made via Google Pay application. 4% cashback on partner merchants Ola, Swiggy, and Zomato. Both these categories will have a combined capping of Rs. 500 cashback in a month.
  • 2% cashback on other merchants and cardholders can earn unlimited cashback on this category.

The total amount of cashback earned by the cardholder is credited against the outstanding balance of the credit card’s next monthly statement. Every month, an SMS is sent to the cardholder with the total amount of cashback earned during the month. There is no SMS sent after every transaction about the cashback earned.

Exclusions on Cashback

The following categories are excluded from earning cashback –

  • Fuel spends
  • EMI transactions
  • Purchases later converted to EMIs
  • E-wallet reloads
  • Cash advances
  • Rent payment
  • Purchase of gold and jewellery
  • Insurance spends
  • Educational spends
  • Outstanding card balance payment
  • Card fee and other charges payment

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Axis Bank Ace Credit Card – Cashback Example

Let’s understand the cashback terms revision with this example. If a cardholder spends Rs. 20,000 in the billing cycle with the following spends –

  • Recharge and bill payments via Google Pay – Rs. 5,000
  • Ola, Zomato, and Swiggy spends – Rs. 5,000
  • Other Spends – Rs. 10,000 (including Rs. 5000 EMI purchase)

Out of other spends, the EMI purchase will not earn cashback and only Rs. 5000 will earn the 2% cashback.

The total cashback in the billing cycle is calculated as follows –

  • 5% of Rs. 5000 = Rs. 250
  • 4% of Rs. 5000 = Rs. 200
  • 2% of Rs. 5000 = Rs. 100

Thus, the total amount of cashback earned by the cardholder will be Rs. 550.


The Axis Bank ACE credit card is highly popular among people new to the credit scene as it offers amazing cashback on recharge and bill payments via Google Pay and on popular merchants like Ola, Zomato, and Swiggy. If you own this credit card or are planning to apply for it, keep the above revisions to its cashback terms and conditions in mind.

The total cashback on Google Pay and partner merchants spends is capped at Rs. 500 per statement cycle, with effect from 15th June 2023. You can still earn unlimited 2% cashback on other spends, excluding some categories.

Do let us know your thoughts regarding this revision of terms and conditions for the Axis Bank ACE credit card in the comments.

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  1. One Word – I am hugely disappointed, they launch with big eye catchy campaign with unlimited cashback and people buy these cards like a herd of goats. Once it becomes your daily driver the corporate tactics start hitting by devaluating the benefits. To compensate for the takeover cost of CITI Banking retail, AXIS has taken these steps. There will be many blows to AXIS customers and this will be one of them. May be comment is too exaggerated but its a harsh reality.

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