Axis Bank ACE Credit Card Vs. Myntra Kotak Credit Card

Any regular person will shop for their everyday needs and pay off the bill, not getting anything in return. But a person with financial prowess would love to have a decent return even on its expenses be it in any form. Some prefer cashback, whereas some would love to have discounts some people wish to have rewards that can redeemed as per their wishes. All these things are exactly the type of benefits you can receive with the help of credit cards. For shopping, the Axis Bank ACE Credit Card and Myntra Kotak Credit Card are two beginner cards with pretty decent features.

Both these cards are great examples of good beginner cards that cover all the necessary features and benefits. These cards can become your first step towards financial freedom itself. Both these credit cards are great value additions to your financial portfolio, especially increasing the purchasing power of their cardholders. These cards are incorporated with remarkable rewarding programs including cashbacks on a few categories and points on the rest.

Axis Bank ACE Credit Card

The Axis Bank ACE Credit Card was launched in partnership with GPay and Visa aiming to capitalize on the heavy growth of online payments. The feature for these credit cards starts with the cashback rewards and the dining benefits. Many pretty assuring features make this card pretty assuring.

Features and Benefits

Rewards

• 5% cashback on utility bill payments via GPay.
• 4% cashback on Zomato, Swiggy and Ola.
• 2% cashback on all the other types of spending.

Travel Benefits

• 4 complimentary domestic airport lounge access every year at the selected airports.
• 4% accelerated cashback on Ola rides.

Dining Benefits

• 20% discount on dining bills across 4000+ restaurants with the Dining Delights program.
• 4% accelerated cashback on Swiggy and Zomato.

Spend Based Waiver

• Joining fee waiver upon spending more than Rs. 10,000 within the initial 45 days.
• Renewal fee waiver from the second year upon spending more than Rs. 2 Lakhs in the preceding year.

Fuel

• 1% fuel surcharge waiver at all fuel stations across the country.
• Maximum waiver of Rs. 500 per month.

Fees and Charges

• Joining Fee – Rs. 499 + Taxes.
• Interest Rates – 3.6% per month or 52.86% annually.
• Foreign Currency Markup – 3.5% of the transacted amount.
• Cash Advance Fee – 2.5% of the withdrawn amount or Rs. 500 whichever is less.

The Axis Bank ACE Credit Card is a good shopping credit card that comes at a decent price. One of the best things about this card is the number of cashback this credit card provides in different categories. Although there are many categories where there is a limit there are also areas where you can earn as much.

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Myntra Kotak Credit Card

As we are aware Myntra is one of the leading E-Commerce fashion companies right now in India, they have also secured a few ways to keep their popularity as such by launching a co-branded credit card. This Myntra Kotak Credit Card is highly favorable to those shoppers who prefer Myntra over any other brand. There are many great advantages of this card starting from the welcome benefits.

Features and Benefits

Welcome Benefits

• A voucher from Myntra worth Rs. 500.

Rewards

• 5% instant discount on all your spending on the Myntra website or app (max capped at Rs. 750 per order)
• Unlimited cashback of 1.25% on all other spends made with online and online merchants

Dining and Movie Benefits

• 5% cashback on all spends with Swiggy, Swiggy Instamart, Cleartrip, Urban Company and PVR
• Max capped at Rs. 1,000 per month

Memberships

• Complimentary membership to Myntra’s Insider Program

Travel Benefits

• 1 complimentary domestic lounge access per quarter

Milestone Benefits

• 2 complimentary PVR movie tickets worth Rs. 250 each upon spending rs. 50,000 in a calendar quarter.

Spend Based Waiver

• Annual fee waiver upon spending Rs. 2 Lakhs or more in a year.

Fuel

• 1% fuel surcharge waiver
• Max capped at Rs. 3,5000 a year

Fees and Charges

• Joining Fee – Rs. 500 + Taxes
• Interest Rate – 3.7% per month and 44.4% per annum.
• Foreign Currency Markup – 3.5% of the transacted amount.
• Cash Advance Fee – 2% or Rs. 500 on every Rs. 10,000 withdrawn
• Add on Card Fee – Rs. 299
• Card Replacement – Rs. 200

Myntra Kotak Credit Card has much to offer to their customers. Youngsters especially can use this credit card in their favor much more efficiently. Earning extremely amazing cashback on your every spend and being able to get discounts and offers with different brands can be fascinating.

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Quick Comparison

Here is a quick comparison between both cards to simplify the process of understanding them

Also Read: BookMyShow RBL Bank Play Credit Card vs PVR Kotak Gold Credit Card

Conclusion

The Axis Bank ACE Credit Card and Myntra Kotak Credit Card, both cards are similar to each other but their offering can be considered different. Since the Myntra Kotak Credit Card is co-branded, it has benefited from both the bank and the shopping app. Die-hard shoppers can take great advantage of it. Whereas Axis Bank ACE Credit Card has great cashback opportunities with utility bill payments, making it a great choice for people with many bills to manage.