The Axis Bank Olympus Credit Card and the ICICI Bank Times Black Credit Card, both priced at ₹20,000 annually, are designed for high-net-worth individuals who expect more than just standard benefits from their credit cards. While they share several similarities, including identical fee structures and a reward system based on the geographical nature of spending (with accelerated rewards on international transactions), the two cards begin to differ in the details. From the absence of milestone benefits on Olympus to the flexible and lifestyle-friendly redemption options offered by Times Black, these minor differences can significantly impact the value you get. Here’s a closer look at how they compare.
Annual Fee & Welcome Benefits
Both cards have a high annual fee of ₹20,000 (plus GST), but their ways of offering value to offset that fee are different.
Axis Olympus offers a welcome package that includes 2,500 EDGE Miles and Taj/ITC hotel vouchers worth ₹10,000. There is no spend-based waiver on the annual fee, meaning the fee remains fixed every year regardless of usage.
ICICI Times Black, on the other hand, offers a mix of welcome benefits: a ₹10,000 hotel voucher via EaseMyTrip, ₹10,000 in Visa concierge benefits (OneVasco & More), ₹3,000 in lifestyle vouchers (Toni & Guy, Interflora), and a complimentary Zomato Gold membership. The fee waiver is only available on Times Black, but at a very steep ₹25 lakh annual spend.
| Particulars | Olympus | Times Black |
| Annual Fee | ₹20,000 + GST | ₹20,000 + GST |
| Welcome Benefits |
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| Spend-Based Waiver | Nil | Annual Fee Waiver on Spending ₹25 Lakh in a Year |
Milestone Benefits
Both Axis Olympus and Times Black ICICI are premium cards from their respective banks, designed for high-net-worth individuals. It’s reasonable to expect that these cards reward high spending. Times Black offers additional ₹40,000 in rewards annually if you spend ₹20 lakh. Axis Olympus surprisingly has no milestone benefits, despite its high fee, which reduces its long-term value.
| Spend-Based Milestone Benefits – Times Black ICICI | |
| Spends | Reward |
| ₹2 Lakh | ₹10,000 Klook Voucher |
| ₹10 Lakh | ₹10,000 Tata CLiQ Luxury Voucher |
| ₹20 Lakh | ₹20,000 Stay Voucher from Ayatana |
Reward Structure Comparison
Here’s how both cards let you accumulate reward points on your spending:
| Reward Points Earning | ||
| Nature of Spends | Olympus | Times Black |
| Domestic Spends | 1 EDGE Mile/₹100 Spent | 2% Reward Points |
| International Spends | 2 EDGE Miles/₹100 Spent | 2.5% Reward Points |
When it comes to reward earning, both cards follow very different structures. Axis Olympus offers 1 EDGE Mile for every ₹100 spent on domestic transactions and 2 EDGE Miles for every ₹100 spent on international transactions.
Meanwhile, Times Black ICICI offers flat 2% rewards on domestic transactions and 2.5% on international spends. However, the actual benefit you receive depends heavily on how you redeem these rewards.
EDGE Miles can be redeemed through Axis Bank’s EDGE Rewards platform, which offers options like flights, hotel stays, and premium vouchers, but the exact value per mile can vary widely. Similarly, Times Black ICICI’s reward points can be redeemed across ICICI’s catalog, with categories like travel and luxury usually providing better value. So while Times Black seems to offer a higher earning rate on paper, the final value you get from either card depends on your redemption choices.
Other Lifestyle Perks
| Particulars | Olympus | Times Black |
| Airport Lounge Access |
|
|
| Airport Transfers | 2 Complimentary Airport Pickups & Transfers Each Year (Primary Cardholder Only) | 2 Cab Transfers Twice a Year or 1 Helicopter Transfer on Spends of ₹5 Lakh or More |
| Golf | 8 Free Golf Lessons/Rounds Across Domestic Courses | N/A |
Axis Olympus offers standard, unlimited lounge access across both domestic and international terminals, and includes 8 complimentary golf rounds or lessons, making it ideal for golf lovers. It also offers 2 complimentary airport transfers in a year.
Times Black ICICI matches lounge access and adds a unique travel perk: a helicopter ride if you spend ₹5 lakh in a year, or alternatively, 2 cab rides annually.
Forex, Interest, and Other Charges
Times Black ICICI has a lower foreign exchange markup, making it slightly more affordable for international travelers. The zero cash advance charge is another feature, rare even among premium cards.
| Particulars | Olympus | Times Black |
| Forex Markup | 1.8% + GST | 1.49% + GST |
| Interest Rates | 3.6% Monthly | 3.75% Monthly |
| Cash Advance Charges | 2.5% (Minimum of ₹500) | Nil |
Bottom Line
On the surface, both cards are positioned similarly, with same annual fees, unlimited lounge access, and a premium branding focus. However, the actual value is impacted with usage. The ICICI Times Black Credit Card brings more to the table in terms of spending perks: tiered milestone benefits, better earning rates, and more flexible reward redemption opportunities. Meanwhile, the Axis Olympus Credit Card, though refined in its positioning, offers limited reward potential and skips milestone incentives altogether, which can feel underwhelming given its price point. For those who spend big and prefer lifestyle-driven perks, Times Black presents a more rewarding and practical choice in the long run.