Axis Bank Privilege Credit Card: Earn Unlimited Rewards on All Spends

As card activation benefit, users get 12,500 EDGE reward points worth Rs. 2,500. This is subject to making the first transaction within 30 days of card set up.

Click here for detailed terms and conditions.

The welcome benefit offered by Axis Privilege is worth more the annual fee charged which is quite rare as most cards provide welcome benefits up to the joining fee. As per their preference users can ensure utilizing the rewards against brand vouchers at the Axis EDGE rewards portal. The flexibility to choose between multiple redemption options, gives users a free-hand to ensure the maximum utilization, as the welcome benefit is not brand-bounded as in most cases.

Axis Bank Privilege Credit Card offers 10 EDGE reward points on every Rs. 200 spent domestically or internationally, excluding insurance, rent, fuel, education, utilities and government MCC spends.

As compared to other popular rewards credit cards, such as SBI Card PRIME and HDFC Millennia, where cardholders would get accelerated earning on select categories, Axis Bank Privilege provides a good reward rate across all transactions. Moreover, there is no rewards capping, so you can earn unlimited EDGE reward points depending on your spends. This somehow covers up for the exhaustive list of exclusion from the rewards program.

The Axis EDGE reward points earned via the Axis Privilege Credit Card can be redeemed as follows:

• 1 EDGE Reward Point = Rs. 0.20, if redeemed against other deals, products, shopping and travel vouchers against Axis EDGE Rewards Portal.
• You can also redeem the accumulated rewards under the Miles Transfer Program for up to 5 Lakh reward points. The partners are classified as Group A and Group B, with a capping of 1 Lakh and 4 Lakh respectively.For redemption against Vistara, ITC, SpiceJet, Air Asia, 5 EDGE REWARD Points = 1 Partner Point. For other partners, 10 EDGE REWARD Points = 1 Partner Point.

Prior to the devaluation, Axis Privilege offered double the value of rewards for redemption against travel or shopping vouchers, in comparison to other deals and products. The accelerated benefit across both shopping and travel ensured more practical usage for users. While the redemption value has reduced, the devaluation has introduced another major option for Axis Privilege users, the redemption of rewards under the Miles Transfer Program for up to 5 Lakh points in a year. While this comes as a positive outbreak for frequent travelers, for others who to-and-fro between multiple categories, this would not be of much use. Besides, this has also put in stop the card’s status as a general rewards credit card neutral to all categories and spends. 

The card comes with the following benefits in this category:

(i) 10,000 bonus rewards points worth Rs. 2,000, covering spends done on both Primary as well as add-on cards
(ii) Annual fee waiver on spending Rs. 5 Lakh

 Amongst all the features offered on the card, the milestone benefits were of huge importance for maximizing the savings on the card. Prior to the April 2024 devaluation, users could not just earn bonus EDGE reward points, but also get double their cash value on redemption against vouchers. This turned out to be a great motivating factor for users to put most expenses on this credit card. When clubbed with the low annual fee waiver criteria of Rs. 2.5 Lakh, ( now revised to Rs. 5 Lakh), users could earn benefits as follows:

• Annual fee reversal for the next year
• 3,000 EDGE reward points
• Convert the earned EDGE reward points into multi-brand vouchers worth twice their value, that is at the conversion rate of 1 reward point = Rs. 0.40

With the list of added exclusions around major everyday and big-ticket purchases like rent, utility, jewelry, fuel, insurance, etc. from rewards earning and milestone calculation;  a higher annual fee waiver limit of Rs. 5 Lakh, and low redemption value of maximum Rs. 0.20 per rewards, the overall savings potential has substantially reduced. 

The card offer access to 2 domestic airport lounge visits in India per calendar quarter, thus, a total of 8 such lounge visits annually. This is subject to spending Rs. 50,000 in the previous quarter.

In comparison to other mid-level credit cards, like SBI Card Prime and HDFC Diners Club Privilege Credit Card which come with complimentary international lounge visits as well, only domestic lounge access is given to the card users. Besides, the spend-based condition of Rs. 50,000 in a quarter, might be tedious for moderate spenders, or for those owning multiple credit cards. With the extensive list of exclusions, the target seems more for for such users.

Click here to get the list of lounges where you can avail your free access via Axis Privilege card.

You can consider getting this card, if:

(i) You want reward benefits not specific to merchants or transaction type (online/offline)
(ii) You own another credit card offering rewards on utilities, fuel, etc.
(iii) You want a card with unlimited reward points
(iv) You are comfortable with the reward rate of 1%
(v) 2 domestic airport lounge visits  per quarter are sufficient for you
(vi) You can spend up to Rs. 5 Lakh in  a year to meet the annual fee waiver
(vii) You are comfortable paying a fee of Rs. 1,500 every year

Check other options, if:
(i) You want all round reward benefits covering everyday and big-ticket expenses like fuel, utilities, insurance, jewelry etc
(ii) You want a card with a high reward rate
(iii) You want extensive travel benefits
(iv) You prefer a low annual fee waiver criteria