With most of the Axis Bank Credit Cards, the cardholders earn Edge Reward Points, which are redeemable against a wide range of options available on the Edge Rewards portal. Till now, the Axis Bank Credit Cardholders could redeem their earned Edge Rewards for free, but the redemption of Edge Points can not be done for free anymore. With the beginning of the new financial year, Axis Bank has come up with the decision to charge a reward redemption fee of up to Rs. 99 on the redemption of Edge Points. However, the fee can vary on the basis of the number of points you are redeeming. Keep reading the article to know more about the reward redemption charges on Axis Bank Credit Cards:
Axis Bank Credit Cards Reward Redemption Fee
If you have an Axis Bank Credit Card that earns you Edge Reward Points on your spends, you will be charged a reward redemption fee for redeeming your earned Reward Points from now on. The fees will vary on the basis of the number of Edge Reward Points that you are going to redeem. Refer to the following table to understand it in detail:
|No. Of Edge Reward Points||Reward Redemption Fee||No. Of Edge Reward Points|
|Less than 300||Nil||Less than 300|
|301 – 10,000||Rs. 25||301 – 10,000|
|More than 10,000||Rs. 99||More than 10,000|
From the above table, you might have understood that there is still no reward redemption fee if you are going to redeem less than 300 Edge Points. But, for a number of points more than 300, you will need to pay the redemption charges on every redemption request.
Comparison Between Reward Redemption Fee Charged By Some Major Card Issuers
Some of the other major credit card issuers like the HDFC Bank, SBI Card, ICICI Bank, etc, already charge a reward redemption fee. However, some of these have constant redemption charges irrespective of the number of points you are redeeming and others charge different fees on the basis of the number of points that are redeemable. In the following table, you can compare the reward redemption fee charges by some of the most popular credit card issuers in India:
|Card Issuer||Reward Redemption Fee|
Also Read: Axis Bank acquires Citibank’s Retail Business in India
Axis Bank, which was previously allowing a free redemption of Edge Points to its credit cardholders, has now imposed a redemption fee of up to Rs. 99 on every redemption request made by the cardholders. However, you can see from the above comparison table that the redemption fee that is being charged by Axis bank for up to 10,000 points is still very less compared to the other card issuers. So, you don’t need to worry about the redemption fee as it is quite affordable. Moreover, if you have any additional doubts regarding the information given below, you can freely ask us in the comment section below!