Axis Bank Ace Credit Card Review

The Axis Bank ACE credit card, launched in collaboration with Google Pay and Visa, has emerged as a promising contender in the Indian credit card market. With a keen focus on the rapidly expanding realm of online payments, particularly in the wake of the COVID-19 pandemic, this card aims to capitalise on the growing internet penetration and changing consumer behaviour in the country.

One of the key highlights of the Axis Bank ACE credit card is its enticing cashback program, specifically designed to cater to the evolving needs of young professionals. Cardholders can enjoy a generous 5% cashback on essential utility bill payments such as electricity, gas, water, and internet when made through the Google Pay Android application. Additionally, a noteworthy 4% cashback is offered on popular merchant platforms like Swiggy, Zomato, and Ola, making it an attractive choice for those who frequently engage with these services.

The Axis Bank ACE credit card aims to entice individuals who are new to the world of credit, primarily targeting young professionals who heavily rely on the aforementioned popular merchants. This strategic approach acknowledges the preferences and habits of this specific demographic, seeking to provide them with tailored benefits and rewards that align with their lifestyle.

Beyond the cashback rewards, the ACE credit card offers an array of valuable perks. Cardholders can enjoy complimentary access to domestic airport lounges, enhancing their travel experience. Additionally, a substantial 20% discount on dining at over 4,000 partner restaurants further adds to the appeal of this credit card. These supplementary benefits, among others, contribute to a comprehensive offering that aims to meet the diverse needs and desires of its users.

In our comprehensive Axis Bank ACE credit card review, we delve deeper into the features, benefits, and potential drawbacks of this card. Whether you are a young professional seeking a credit card that aligns with your lifestyle or an individual interested in maximizing your online payment experiences, our review provides valuable insights to help you make an informed decision.

Discover the perks, assess the value, and explore the potential of the Axis Bank ACE credit card in our detailed review, assisting you in your journey to find the ideal credit card that meets your specific requirements and preferences.

Features and Benefits

• Generous Cashback Rate: The Axis Bank ACE Credit Card is widely recognized as one of the most popular cashback credit cards available in the market. With an impressive cashback rate, it offers a rewarding experience for cardholders.
• Exciting Travel Benefits: Cardholders can enjoy the luxury of 4 complimentary airport lounge accesses every year at selected domestic airports, enhancing their travel experience with comfort and convenience.
• Accelerated Cashback on Rides: For those who rely on Ola for their transportation needs, the Axis Bank ACE Credit Card offers an accelerated 4% cashback on Ola rides, ensuring savings with every journey.
• Delightful Dining Privileges: Indulge in gastronomic delights with up to a 20% discount on dining bills at over 4,000 partner restaurants under Axis Bank’s Dining Delights program. Whether it’s a casual outing or a special occasion, this benefit adds value to your dining experiences.
• Accelerated Cashback on Food Delivery: For food enthusiasts who frequently use food delivery platforms, such as Swiggy and Zomato, the Axis Bank ACE Credit Card offers an accelerated 4% cashback on transactions, making your meals even more satisfying.
• Spends Based Waiver: The joining fee for the Axis Bank ACE Credit Card can be reversed by simply making an expenditure of Rs. 10,000 within 45 days of card setup. This feature allows new cardholders to enjoy the benefits of the card without any initial joining fee.
• Annual Fee Waiver: Cardholders can have their annual membership fee waived off from the second year onwards by achieving an annual spend of Rs. 2,00,000 in the preceding year. This incentive encourages regular card usage and rewards loyal customers.
• Fuel Surcharge Waiver: Save on fuel expenses with a 1% fuel surcharge waiver at all fuel stations across the country for transactions ranging from Rs. 400 to Rs. 4,000. The maximum waiver is capped at Rs. 500 per month, offering substantial savings on regular fuel purchases.

The Axis Bank ACE Credit Card presents a compelling package of features and benefits, including an attractive cashback rate, exclusive travel privileges, delightful dining discounts, convenient spends based waiver, annual fee waiver, and fuel surcharge waivers. With its comprehensive offerings, this credit card caters to the diverse needs and preferences of individuals seeking a rewarding and versatile financial tool.

Axis Bank ACE Credit Card Fees & Charges

• Joining & Annual Membership Fee: Axis Bank ACE Credit Card has a joining fee and an annual membership fee of Rs. 499. This fee allows cardholders to access the card’s exclusive benefits and rewards throughout the year.
• Interest Rate: In case you are unable to clear your outstanding balance by the due date, an interest rate of 3.6% per month (equivalent to 52.86% annually) is levied on the remaining amount reflected in your card’s statement balance. It is advisable to make timely payments to avoid incurring interest charges.
• Cash Advance Fee: For cash withdrawal transactions made using the Axis Bank ACE Credit Card at ATMs, a cash advance fee of 2.5% of the withdrawn amount is applicable. The fee is subject to a minimum charge of Rs. 500. It is important to note that cash advances typically accrue interest from the date of withdrawal, so it’s advisable to use this feature sparingly.
• Foreign Currency Mark-up: When making transactions in foreign currency with the Axis Bank ACE Credit Card, a Forex mark-up charge of 3.5% of the transaction amount is applicable. This charge covers the conversion of foreign currency to Indian Rupees and is a standard industry practice.
• Card Replacement Fee: In the unfortunate event of misplacing or losing your credit card, Axis Bank provides a free card replacement service. There is no fee charged for replacing your card, ensuring a hassle-free process for cardholders.

Pros of Axis Bank ACE Credit Card

• High Reward Rates: The Axis Bank ACE Credit Card offers an impressive reward rate of 5% on mobile/DTH recharges and bill payments made through Google Pay. Additionally, it provides a competitive reward rate of 4% on spends at popular platforms like Zomato, Swiggy, and Ola. These attractive reward rates allow cardholders to earn substantial cashback on their everyday expenses.
• Complimentary Airport Lounge Access: One standout feature of the ACE Credit Card is the inclusion of 4 complimentary lounge access passes at domestic airports across the country. This benefit sets it apart from most other entry-level credit cards, providing cardholders with a touch of luxury and comfort during their travels.
• No Maximum Capping on Cashback: Unlike many other credit cards, the Axis Bank ACE Credit Card does not impose a maximum capping on the regular 2% cashback that can be earned within a given payment cycle. This feature allows cardholders to earn unlimited cashback rewards on their eligible transactions, providing flexibility and value.
• Low Annual Fee with Waiver Option: While the Axis Bank ACE Credit Card comes with an annual fee of Rs. 499, it is significantly lower compared to many other credit cards in the market. Furthermore, this fee can be easily waived off by achieving a minimum expenditure of Rs. 2 lakhs in the preceding year. This provides an opportunity for cardholders to enjoy the card’s benefits without any additional financial burden.

Cons of Axis Bank ACE Credit Card

• Limited Cashback Categories: The Axis Bank ACE Credit Card does not offer cashback on certain categories of spends. These excluded categories include fuel spends, wallet reloads, purchases converted into EMIs, gold items, and cash advances. Cardholders may find it disappointing that these common spending categories do not contribute to earning cashback rewards.
• Lower Cashback Rate at Non-Partner Merchants: While the card provides attractive cashback rates for transactions made at partner merchants such as Google Pay, Zomato, Swiggy, and Ola, the cashback rate drops to just 2% for transactions at non-partner merchants. This discrepancy in cashback rates may be perceived as a drawback for individuals who frequently make purchases from non-partner merchants.

Who should get Axis Bank ACE Credit Card?

The Axis Bank ACE Credit Card is an ideal choice for individuals who fit certain criteria and seek a cashback-based entry-level credit card with additional benefits. Consider applying for the Axis Bank ACE Credit Card if:

• Frequent Google Pay Users: If you frequently utilize Google Pay for bill payments and mobile/DTH recharges, the Axis Bank ACE Credit Card offers an attractive cashback rate on such transactions. This makes it a suitable option for individuals who rely on Google Pay as their preferred payment platform.
• Dining Enthusiasts: If you enjoy dining out or ordering food online through platforms like Swiggy and Zomato, the Axis Bank ACE Credit Card provides a good cashback rate for these transactions. This feature adds value to your dining experiences and allows you to earn rewards on your food expenses.
• Airport Lounge Access: Individuals who desire the convenience and comfort of complimentary airport lounge access will find the Axis Bank ACE Credit Card appealing. With 4 complimentary lounge access passes at domestic airports, it caters to those seeking a touch of luxury during their travels.

Who should look for a better alternative?

While the Axis Bank ACE Credit Card offers several benefits, there are specific cases where individuals may want to explore alternative options. Consider looking for a better alternative if:

• Preference for Alternative Payment Platforms: If you do not prefer using Google Pay for mobile/DTH recharges and bill payments, the cashback benefits of the Axis Bank ACE Credit Card may not align with your payment habits. Exploring other credit cards that cater to your preferred payment platforms may be more suitable.
• Apple Smartphone Users: As the cashback benefits of the Axis Bank ACE Credit Card are valid only on the Google Pay Android application, individuals with Apple smartphones may not fully utilize the card’s rewards. In such cases, considering credit cards that offer cashback benefits on a broader range of platforms can be a better option.
• Frequent EMIs Purchases: If you frequently make purchases on EMIs, it’s important to note that the Axis Bank ACE Credit Card does not provide any cashback on such transactions. Individuals who prioritize cashback benefits on EMI purchases may want to explore credit cards that offer rewards in this category.

Assessing your payment preferences, spending habits, and specific requirements will help determine whether the Axis Bank ACE Credit Card aligns with your needs. It’s essential to consider these factors to make an informed decision and choose a credit card that maximizes your rewards and benefits.

Eligibility Criteria

To be eligible for the Axis Bank ACE Credit Card, you need to meet certain basic requirements. While Axis Bank has not explicitly specified income criteria for this card, you must fulfill the following eligibility conditions:

• Age Requirement: You should be between 18 years and 70 years of age. This age bracket ensures that applicants are of legal age and fall within the acceptable range for credit card issuance.
• Residency Status: To be eligible for the ACE Credit Card, you must be a resident of India. This requirement ensures that the card is available to individuals residing in India and can benefit from the card’s features and services within the country.

How to Apply for Axis Bank ACE Credit Card?

Applying for the Axis Bank ACE Credit Card is a simple and convenient process. To get started, follow these steps:

• Click on the Apply Now button: Use the provided Apply Now button above to initiate the application process for the Axis Bank ACE Credit Card.
• Select the ACE Credit Card: On the application page, choose the ACE Credit Card option from the available credit card options. This ensures that you are applying specifically for the ACE Credit Card.
• Complete the Application Form: Fill out the application form with accurate and up-to-date information. The form will typically require details such as your personal information, contact details, employment details, and financial information.
• Submit Required Documents: As part of the application process, you will need to provide certain documents to support your application. These may include:
• Identity Proof: Submit a valid identity proof document such as Voter card, Aadhar card, PAN card, etc.
• Address Proof: Provide an address proof document, which can include Aadhar card, Voter card, PAN card, driving license, etc.
• Proof of Income: Submit proof of your income, which may include salary slips, audited ITR acknowledgement, or other relevant documents.
• Submit the Application: Once you have completed the form and attached the necessary documents, review the application to ensure accuracy. Then, submit your application online.

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FAQs

What is the annual fee for the Axis Bank ACE Credit Card?

The Axis Bank ACE Credit Card comes with an annual fee of Rs. 499. However, this fee can be waived off on achieving a minimum expenditure of Rs. 2 lakhs in the preceding year.

Are there any charges for cash withdrawals with the Axis Bank ACE Credit Card?

Yes, a cash advance fee of 2.5% of the withdrawn amount is applicable on cash advance transactions made from ATMs using the Axis Bank ACE Credit Card.

Is the Axis Bank ACE Credit Card available for Apple smartphone users?

The cashback benefits of the Axis Bank ACE Credit Card are valid only on the Google Pay Android application. Therefore, individuals with Apple smartphones may not fully utilize the card’s rewards.

Can I apply for the Axis Bank ACE Credit Card if I am not an Axis Bank customer?

Yes, individuals who are not existing Axis Bank customers can also apply for the ACE Credit Card. The application process is open to both Axis Bank customers and non-customers.

Conclusion

The Axis Bank ACE Credit Card is a preferred option among individuals looking for an entry-level credit card that offers cashback rewards and additional advantages. It distinguishes itself by providing appealing reward rates on mobile/DTH recharges, bill payments, and transactions conducted on popular platforms such as Google Pay, Zomato, Swiggy, and Ola. This translates into substantial savings on everyday expenditures. Moreover, the card’s complimentary airport lounge access, dining discounts, and other perks add to its allure.

Although the Axis Bank ACE Credit Card has notable advantages, it is crucial to acknowledge its limitations. One limitation is the absence of cashback on specific spend categories, including fuel spends, wallet reloads, purchases converted into EMIs, gold items, and cash advances. This might be a drawback for individuals who frequently engage in such transactions. Additionally, it is important to consider the lower cashback rate at non-partner merchants, which should be taken into consideration when assessing the card’s overall value proposition.

The eligibility criteria for the Axis Bank ACE Credit Card are relatively straightforward, making it accessible to a wide range of individuals. The application process is simple, and existing Axis Bank customers may benefit from a smoother experience.

Overall, the Axis Bank ACE Credit Card proves to be a competitive choice for those who frequently use Google Pay, dine out or order food online, and desire the convenience of airport lounge access. It provides an opportunity to earn cashback rewards and enjoy additional privileges, making it a worthy consideration for young professionals and individuals new to the credit card scene. However, it’s important to assess your spending patterns and preferences to determine if this card aligns with your financial needs and goals.

Author: Vedanti KiranVedanti is a female finance writer, currently pursuing her studies at Hansraj College. She has a passion for writing and travelling, and her articles on the stock market, finance, investment, and cryptocurrency are well-researched and informative. With her unique perspective on the world of finance, Vedanti is a go-to source for those seeking insights into the world of finance.