Axis Bank Ace Credit Card vs HDFC Millennia Credit Card- Which One Should You Pick?

Axis Bank Ace Credit Card and HDFC Millennia Credit Card are two of the best shopping credit cards in the Indian credit card market. Both these cards are entry-level credit cards and have a cashback reward structure. While the Axis Bank Ace Credit Card comes with a membership fee of just Rs. 499 per annum. HDFC Millennia Credit Card comes with a slightly higher fee. In this article, we will discuss the reward rate and other benefits that these two cards offer, one by one, in detail, and finally give you a quick comparison between the two credit cards so that it becomes easier for you to pick one based on your needs.

Axis Bank Ace Credit Card

Axis Bank Ace Credit Card is a shopping credit card launched by Axis Bank in collaboration with Google Pay. It is an entry-level cashback credit card and comes with a membership fee of Rs. 499 per annum. The card offers a high reward rate of 5% on mobile recharges and utility bill payments via the Google Pay app. Some of the key features of the Axis Bank Ace Credit Card are as follows:

• 5% cashback on mobile recharges and utility bill payments made with the card via Google Pay.
• 4% cashback on Zomato, Swiggy, and Ola, and 2% cashback on all other transactions made with the card.
• Both of the above categories have a combined capping of Rs. 500 cashback per statement cycle.
• 4 complimentary lounge access at select domestic airports across India.
• Up to 20% discount on dining bills at over 4,000 partner restaurants across India under the bank’s Dining Delights program.
• The joining fee of Rs. 499 is waived off on the expenditure of Rs. 10,000 within the first 45 days of card issuance, and the annual renewal fee (second year onwards) is waived off if a minimum of Rs. 2 lakh is spent in the previous year.

HDFC Bank Millennia Credit Card

The Millennia Credit Card by HDFC Bank is another very popular shopping credit card in the Indian credit card market, particularly among young professionals and millennials. Just like Axis Bank Ace Credit Card, HDFC Millennia Credit Card also has a cashback reward structure.

HDFC Millennia Credit Card is an entry-to-mid-level card and comes with a higher membership fee of Rs. 1,000 per annum. The card offers a high reward rate of 5% on some of the most popular e-commerce websites, including Amazon, Flipkart, Myntra, BookMyShow, Swiggy, and Zomato. Here are some of the salient features of the HDFC Millennia Credit Card-

• The cashback earned on the HDFC Millennia Credit Card is processed as CashPoints, which can either be redeemed against the card’s statement balance (1 CP = Re. 1), product purchases (1 CP = Rs. 0.30), flight/hotel bookings (1 CP = Rs. 0.30) or can be transferred to partner airlines’ frequent flyer programs (1 CP = Rs. 0.30).
• You earn 5% cashback on partner e-commerce websites, including popular brands like Amazon, Flipkart, Myntra, BookMyShow, etc., and 1% cash back on all other online and offline spends. The maximum number of CashPoints that can be earned in a given month is capped at 1,000 CashPoints.
• The minimum income requirement to be eligible for HDFC Millennia Credit Card is Rs. 35,000 per month for salaried applicants and Rs. 6 lakh per annum for self-employed applicants.
• The annual membership fee of Rs. 1,000 is waived on the expenditure of Rs. 1 lakh in the preceding membership year.

Quick Comparison

The following chart gives you a quick comparison between Axis Bank Ace Credit Card and HDFC Millennia Credit Card-

Basis	Axis Bank Ace Credit Card	HDFC Millennia Credit Card
Reward Rate	Cashback can be directly transferred to the cardholder’s account. On bill payments, you get 5% cashback Via Google Pay. 4% cashback on applications like Swiggy, Zomato and Ola. 2% cash back on all other types of spending.	5% cashback on brands like Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Uber, Tata CLiq, and Zomato 1% cashback on all other spends
Reward Redemption	Cashback is directly adjusted towards the card’s statement balance every month.	For cashback, 1 CP = Re. 1 For product catalog, 1 CP = Rs. 0.30 For flight/hotel booking on SmartBuy 1 CP = Rs. 0.30 Airmiles 1 CP = Rs. 0.30
Additional Benefits	Four complimentary domestic lounge visits every year Up to 20% off at 4,000 partnered restaurants	4 domestic airport lounge access in a year on meeting the minimum spend requirement. 20% discount at the partnered restaurants.
Membership Fee	Rs. 499 + GST The annual fee is waived upon spending over Rs. 10,000 within 45 days of card issuance. Upon spending over Rs. 2 Lakh in the preceding year, you receive the joining fee waiver.	Rs. 1,000 + GST

Must Read: Axis Bank ACE Credit Card Vs My Zone Credit Card

Conclusion

As is evident from the comparison above, although the HDFC Millennia Credit Card comes with a higher annual fee than the Axis Bank Ace Credit Card, the reward rate and benefits that it offers justify the higher annual fee.

However, as far as utility bill payments and mobile/DTH recharges are concerned, the Axis Bank Ace Credit Card, with a reward rate of 5% (compared with just 1% on the Millennia Credit Card), has the upper hand.

Keeping in mind all the pros and cons of both credit cards, it can be concluded that if the majority of your online spends is for bill payments, mobile/DTH recharges, and food orders, and you’re not a very big fan of online shopping, Axis Bank Ace Credit Card which comes with a lower annual fee should be your pick. Otherwise, HDFC Millenia Credit Card is definitely more rewarding, and you simply can not go wrong with it.