If you’re looking for a credit card that gives you good cashback on your everyday spends, both the Axis Bank Cashback Credit Card and the HDFC Millennia Credit Card are worth considering. These entry-level cards are designed to reward users for online shopping and regular spending. While both have similar annual fees, they offer different cashback rates, reward structures, and extra perks. Let’s compare them to help you pick the one that suits your lifestyle better.
Annual Fee and Welcome Benefits
Axis Cashback and HDFC Millennia both charge an annual fee of ₹1,180 (inclusive of GST). They grant welcome benefits in the form of reward points to counterbalance the annual fee. Each card also offers a spend-based waiver for the annual fee. For example, if a user spends ₹4 lakh on the Axis Cashback credit card or ₹1 lakh on the HDFC Millennia card, the annual fee will be waived.
While Axis Cashback does not offer milestone rewards for high spending, HDFC Millennia offers gift vouchers worth ₹1,000 once the cardholder reaches a spend of ₹1 lakh per quarter. In total, that amounts to vouchers worth ₹4,000 upon achieving spends of ₹4 lakh in a year.
| Particulars | Axis Cashback | HDFC Millennia |
| Annual Fee | ₹1,000 + GST | ₹1,000 + GST |
| Joining Perks | 5,000 EDGE Reward Points Worth ₹1,000 on Making the First Transaction | 1,000 CashPoints |
| Spend-Based Annual Fee Waiver | Annual Fee is Waived on Spends of ₹4 Lakh+ in the Previous Year | Annual Fee is Waived on Spends of ₹1 Lakh+ in the Previous Year |
| Milestone Benefits | N/A | On Spending ₹1 Lakh or More per Quarter, Receive Gift Vouchers Worth ₹1,000 |
Cashback Accrual and Redemption
The two cards offer cashback on spending, with the cashback for both based on different categories. For instance, with the Axis Cashback, cardholders can earn a maximum cashback of 7% on online transactions after spending ₹40,000. In contrast, the HDFC Millennia offers a maximum of 5% cashback on transactions made with partner online merchants, including Flipkart, Myntra, Sony LIV, Swiggy, Amazon, and more. The tables below illustrate the reward structure with both the cards.
| Particulars | Axis Cashback |
| Earning Cashback |
|
| Cashback Redemption | Credited to the Cardholder’s Account by Default |
| Particulars | HDFC Millennia |
| Earning Cashback |
|
| Cashback Redemption | Credited as CashPoints to the Cardholder’s Account
|
Dining Benefits
The only lifestyle benefit provided by the cards is related to dining. The Axis Cashback Credit Card offers an immediate 25% discount, capped at ₹800, on EazyDiner for a minimum spend of ₹2,500. In contrast, HDFC Millennia offers a discount of ₹200 on dining bills via Swiggy Dineout.
Bottom Line
Both the Axis Bank Cashback Credit Card and the HDFC Millennia Credit Card serve users who want to earn rewards in the form of cashback, but they do so in different ways. The Axis Cashback Credit Card stands out for those who spend heavily online, especially above ₹40,000 per month, as it offers a high cashback rate of up to 7%. Plus, the cashback is directly credited to your card account, making it simple and easy to track and use.
On the other hand, the HDFC Millennia Card offers more balanced benefits. While its highest cashback rate is 5% and only applies to select partner merchants, it also provides milestone rewards in the form of gift vouchers worth up to ₹4,000 annually, which is a nice bonus for consistent spenders. Additionally, HDFC offers more flexibility in cashback redemption through CashPoints, which can be used for travel bookings, shopping, or to offset your card bill.
Click the “Apply Now” button below to begin your HDFC Millennia application today.