The Axis Bank Privilege credit card will provide benefits and discounts on a large range of categories like fuel, dining, shopping and many more. By making use of this credit card, you will be able to get access to Mastercard lounges as a complimentary for two times a year. This credit card will have a joining fee of Rs.1,000/- which will not be charged for its priority customers. The annual fee of this card is an amount of Rs.1,500/- which will be waived off if your annual spends are more than the amount of Rs.4 lakh. This Privilege credit card will have an interest rate of 41.75% per year.
A guide for Axis Bank privilege credit card benefits and features
- Axis Bank Privilege Credit card is a lifestyle card which offers benefits on categories of lifestyle like rewards, travel, dining etc.
- When you reach an amount of Rs.4 Lakh on your annual spends, then the annual fee for your coming year will be reversed.
Axis Bank privilege credit card lifestyle benefits
- You will get two complimentary access to lounges as a complimentary at certain domestic airports for every quarter.
- You will be able to receive the benefits of “Extraordinary weekends” provided by the Axis bank.
- You will receive a discount of up to 20% on selected restaurants which come with the scheme of “Dining delight”.
- You will receive a comprehensive insurance cover of up to an amount of Rs.2.5 crore.
Benefits on activation
Once you completed three transactions by making use of this credit card within 60 days of the card issuance, you will receive eDGE reward points of 12,500/- which you can later redeem for Yatra vouchers worth an amount of Rs.5,000/-.
Benefits on milestone
The eDGE reward points which you receive upon the transactions which are worth an amount of Rs.2.5 Lakh can be considered to convert into vouchers of Yatra which will have a value which is two times as much.
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Benefits upon renewal
Every time you renew the credit card, it will provide you with 3,000 Axis eDGE reward points.
Reward points from eDGE
For each amount of Rs.200/- spend using this credit card, you will be receiving 10 points. This will be applicable to both international and domestic transactions made using the card. The redemption of the reward points which you have accumulated can be done for an exclusive product list.
You will be able to receive the best of the premium privileges with “Extraordinary weekends” provided by the Axis bank.
A Waiver on fuel surcharge
For the transactions made on fuel between the amounts of Rs.400/- and Rs.4,000/- by making use of this Axis Bank privilege Credit card, you will be able to enjoy a waiver on a surcharge of fuel. Anyways, the maximum amount of waiver provided on the fuel surcharge will be an amount of Rs.400/-.
The security offered on card
This Privilege credit card has a feature called EMV which will protect the card from fraudulent behaviour. This payment method is completely dependent on a technical standard for smart credit cards and for merchant terminals and ATMs which can accept them. EMV cards will store their data on integrated circuits along with magnetic stripes.
The facility of EMI
You will also be able to receive an option to convert all of your transactions which are exceeding an amount of Rs.2,500/- into EMIs (Equated Monthly Income).
This Axis Bank Privilege Credit card comes with an insurance cover like ait accident cover which would be worth an amount of up to Rs.2.5 crore, purchase protection of an amount of Rs. 1 Lakh and lost card liability amount of up to Rs.3 lakh.
Axis Bank privilege credit card fees and charges
- An amount of Rs.1,500/- will be charged as a joining fee. This joining fee will not be charged for priority customers of Axis Bank.
- Annual fee of Rs.1,500/- will be charged from the second year of card issuance. And this annual fee can also be reversed if you are reaching an amount of Rs.4 lakh in terms of your annual spend.
- There would be 2.95% of charges made on purchases per month.
- The charges for cash withdrawal would be 2.5% of the amount of cash withdrawn which would be subjected to a minimum amount of rs.250/-.
- Fees on transactions made using cash is an amount of Rs.100/-.
- There will be no fees charged for re-issue of the card or card replacement.
- Late payment fee of Rs.300/- will be charged if the outstanding balance amount is up to an amount of Rs.2,000/-. If the outstanding balance is between the amounts of Rs.2,001/- and Rs.5,000/-, then an amount of Rs.400/- will be charged as a penalty for late payment. If the outstanding balance amount is more than the amount of Rs.5,001/-, then the late payment fee would be an amount of Rs.600/-.
- Charges for payments made in foreign currency would be 3.5% of the amount of transaction.
- Surcharge on the payments related to fuel is 1% of the amount which is paid.
- Dishonour fee charged for cheque bounce would be an amount of Rs.300/-.
- Penalty for over-limit would be 3% of the over-limit amount which would be subjected to a minimum amount of Rs.500/-.
Eligibility criteria for an Axis Bank privilege credit card
For being eligible for the Axis Bank Privilege Credit card, you will be required to meet the below criteria.
- The applicant should belong to the age group of 18 to 70 years. For the add-on cards, the applicants should be above 18 years of age.
- The applicant’s net income should be an amount of Rs.6 lakh per year.
- The applicant should be an Indian Resident.
The eligibility criteria mentioned in the above points are just indicative. Axis bank has all the rights to approve or decline the application for the credit card.
Required documentation for Axis Bank privilege credit card
You will be required to submit the following documents at the time of application of this Axis Bank credit card.
Proof of identity: Photocopy of your PAN Card or Aadhaar card or Form 60.
Proof of Income: Photocopy of your recent salary slip or Income Tax Return or Form 16.
Proof of Address: Photocopy of passport, any of the utility bills like electricity bill, telephone bill etc.