Axis Bank launched Axis Bank Rewards credit card

[TechnoFino]

Hi,
Axis bank launched axis rewards credit card, it might replace citi rewards credit card soon.



Charges:-
Joining Fees- Rs. 1000+GST
Annual Fees- Rs. 1000+GST
Annual fees reversal criteria- spend 2L in a year

Welcome Benefit:- Get 5000 bonus EDGE Points after spending Rs. 1000 within first 30 days.

Benefits:-
Lounge access- 2 domestic lounge access per quarter.
Swiggy- Get 30% instant discount on Swiggy up to INR 150 per month for a minimum transaction value of INR 200. Two times a month.
Fuel Surcharges Waiver- 1% fuel surcharge waiver on all fuel transactions between INR 400 to INR 5000, with a max cap of Rs.400 on wavier in the statement month.

Reward System-
2 EDGE reward point on every INR 125 spent.
No Reward Points On- Transportation & Tolls, Utilities, Insurance, Educational Institutions, Govt. Institutions, Wallet, Rent, Fuel.
10X (20 EDGE Points) EDGE Rewards on every INR 125 spent at Apparel & Department Stores.
Incremental 9X bonus points is subject to a cap of 1008 points, i.e. if you spend INR 7000 per statement month, you'll get maximum 1008 EDGE Points (9X)
1 Reward Point = Rs. 0.20
So,
core reward rate- 0.32%
10X reward rate- 3.2%
You can also transfer your EDGE points to partner airlines/hotels, transfer rate will be- 5 EDGE Points/10 EDGE Points= 1 Airmiles/Hotel Points (Just like Axis Select/Privilege Card).

Monthly Milestone Benefit- Earn 1500 bonus EDGE points every month after spending 30,000.
Excluded categories- Insurance, Wallet, Rent, EMI

My Opinion: Overall, the Axis Rewards Credit Card is a decent credit card option, but the reward rate may not be as attractive as some other cards at a similar price point. However, the card does offer some appealing benefits, such as lounge access, discount on Swiggy, the monthly milestone bonus and welcome bonus.

 

[RajBlr]

can we also transfer axis myzone credit card edge reward points to airmiles???

If you have a HNI card, then you get .8 conversation ratio or 5:4

Otherwise it is way way below to ~.20 (see the other Cards column)

Link - https://www.axisbank.com/miles-transfer/

 

[TechnoFino]

can we also transfer axis myzone credit card edge reward points to airmiles???

yes, but the transfer rate is very low. 20 EDGE Points = 1 miles & for few 10 EDGE points = 1 miles

 

[vaibhavpp0707]

I have CITI Rewards credit card, but it is paid and I am thinking to close it as no use.

Also, there is less chance Axis will replace it with any other Axis cards till end of 2024.

Make it LTF. CALL CC and ask make it LTF or close. They will retain u by crediting 1000₹. It will take 10 working days to credit. Once u get 1k call CC and ask same. If they denied then ask them to swap it to any LTF card. They will swap it to Citi Indian Oil Card. U can see card in app instantly. And u will get it in 5 working days. Use it for 1 month and if u want to keep it, keep Indian Oil Card or if u want Citi rewards only then call CC and ask them to swap it to LTF Citi Rewards. They will swap it immediately. Card will appear in app while u r on call with CC only. Card will be delivered to u within 5 working days.

 

[Patil007]

Make it LTF. CALL CC and ask make it LTF or close. They will retain u by crediting 1000₹. It will take 10 working days to credit. Once u get 1k call CC and ask same. If they denied then ask them to swap it to any LTF card. They will swap it to Citi Indian Oil Card. U can see card in app instantly. And u will get it in 5 working days. Use it for 1 month and if u want to keep it, keep Indian Oil Card or if u want Citi rewards only then call CC and ask them to swap it to LTF Citi Rewards. They will swap it immediately. Card will appear in app while u r on call with CC only. Card will be delivered to u within 5 working days.

This I will try as another youtuber got retention bonus from Citi bank as Rs. 1000.

I previously called them to make it LTF, but they said, waiver condition is just 30K/year so spend it.

Now that bonus n all depends on the customer representatives mood also.

 

[kkk]

I have Citi Reward card since 2013 and it's LTF. What will happen to this card now? Will it still remain LTF when Axis takes over Citi?

 

[Patil007]

I have Citi Reward card since 2013 and it's LTF. What will happen to this card now? Will it still remain LTF when Axis takes over Citi?

It should be else they will give you another Axis card, but that must be LTF.

 

[shubham__0720]

If you have a HNI card, then you get .8 conversation ratio or 5:4

Otherwise it is way way below to ~.20 (see the other Cards column)

Link - https://www.axisbank.com/miles-transfer/

yes, but the transfer rate is very low. 20 EDGE Points = 1 miles & for few 10 EDGE points = 1 miles

Thank you sir for your reply😄

 

[Unleash]

Got Citi rewards as LTF this year in Jan, hope they swap with this Axis rewards. Dont want to close Citi rewards as it has good limit.

 

[kkk]

It should be else they will give you another Axis card, but that must be LTF.

I already have 3 Axis credit card.

 

[DarkKnight]

I am assuming / hoping Citi Reward card holders may get this card as a replacement once the transition is completed!!

 

[RajBlr]

I am assuming / hoping Citi Reward card holders may get this card as a replacement once the transition is completed!!

Only if it is in Citi terms
Otherwise lot might close it, if not useful in what the accelerated point and Swiggy offer etc.

 

[RajBlr]

creative department in Axis made the following changes w.r.t Citi Rewards

- 30% swiggy offer (2 times per month on orders above 200).
- 3.2% reward rate on apparel and departmenta spends (v/ Citi 2.8%)
- 0.0032% reward rate on other categories (excluded - Utilities, Insurance, Wallet, Fuel) (v/ Citi 0.28%)

• Seriously 0.0032% (2 Edge/125)
• Poor categories not even providing that reward rate too.

- Customer shall receive bouquet of membership upto INR 1000 per anniversary year. 🤔
- 1% bonus on monthly spends of 30,000 (v/ Citi 0.35%).
- 3Y validity for Edge points (v/ Citi never expire).

- Increased fee waiver to 2L (v/ Citi 30,000)

• who spends 2L on this card?

https://www.axisbank.com/docs/default-source/default-document-library/cards/rewards-credit-card-terms-and-conditions.pdf

https://www.online.citibank.co.in/portal/newgen/cards/rewards/Terms-and-Conditions.pdf

Good thing is, they copy pasted Terms and conditions document from Citi.

Nice explanation...

AXIS is living by their Slogan

Some Sukh Some Dukh,
Dil Se AXIS

 

[HN74]

- 0.0032% reward rate on other categories (excluded - Utilities, Insurance, Wallet, Fuel) (v/ Citi 0.28%)

• Seriously 0.0032% (2 Edge/125)
• Poor categories not even providing that reward rate too.

2ER /125 is 0.32%

 

[Harry1]

creative department in Axis made the following changes w.r.t Citi Rewards

- 30% swiggy offer (2 times per month on orders above 200).
- 3.2% reward rate on apparel and departmenta spends (v/ Citi 2.8%)
- 0.0032% reward rate on other categories (excluded - Utilities, Insurance, Wallet, Fuel) (v/ Citi 0.28%)

• Seriously 0.0032% (2 Edge/125)
• Poor categories not even providing that reward rate too.

- Customer shall receive bouquet of membership upto INR 1000 per anniversary year. 🤔
- 1% bonus on monthly spends of 30,000 (v/ Citi 0.35%).
- 3Y validity for Edge points (v/ Citi never expire).

- Increased fee waiver to 2L (v/ Citi 30,000)

• who spends 2L on this card?

https://www.axisbank.com/docs/default-source/default-document-library/cards/rewards-credit-card-terms-and-conditions.pdf

https://www.online.citibank.co.in/portal/newgen/cards/rewards/Terms-and-Conditions.pdf

Good thing is, they copy pasted Terms and conditions document from Citi.

2/125 = 1.6% edge points and 0.32% Amazon voucher.

 

[vysakh]

This is a terrible card.

Their own card, the MyZone, does almost everything better than this at a lesser annual/renewal fee. It is being given as LTF now.
Except for the milestone benefit and the very limited accelerated rewards, what does it do better than MyZone? Even with the milestone benefit, is it comparable?

 

[sudhirsiddhi]

I already have 3 Axis credit card.

which card's??

 

[krishc]

Yes, that why I am waiting 2 months. lets see what they offer.

what is this thing with April 30?
What will be the different in retention process if I close Citi Rewards next week versus May 1st week ?

 

[HazelBlotch]

Nice. I'll be waiting for that LTF offer.

 

[Patil007]

I already have 3 Axis credit card.

what is this thing with April 30?
What will be the different in retention process if I close Citi Rewards next week versus May 1st week ?

Nothing, just hoping Axis will announce something in this two months period about Citi to Axis card upgrades 😜.

Retention anyhow they will not give me as I already tried.

I will try again in March and April else.

If they are not ready will close this card.

 

[Patil007]

This I will try as another youtuber got retention bonus from Citi bank as Rs. 1000.

I previously called them to make it LTF, but they said, waiver condition is just 30K/year so spend it.

Now that bonus n all depends on the customer representatives mood also.

I called Citi customer care today and told them to make it LTF, they said it is spend based 30/year to waive off renewal fee so use it .

I again called them after 10 minute and asked them to close my card, card closure team was reading card benefits and asked me for reason, I told them it is due to annual fee and card is not that useful to me. they said, renewal fee will come in Septmeber 2023 so use it as only 30K/year year condition + if you still feel it is not usefull, you call us in September will try to waive off that fee.

Let's see, I will try this in August.

What do you think.