The Axis Bank ACE Credit Card is a cashback-oriented credit card that aims to provide superior value on day-to-day expenses. One of its best features is the 5% cashback on bill payments and recharges done through Google Pay, which makes it an intelligent option for users who pay utilities online. Another best feature is the unlimited 1.5% cashback on all other eligible spends, providing uniform rewards without the concern of monthly limits. While a small annual fee of ₹499 can be waived by spending ₹2 lakh within a year, the ACE Credit Card is positioned as a high-utility card for salaried professionals and digital users who value rewards on necessary payments.
Table of Contents
Axis Bank ACE Credit Card Benefits
- 5% Cashback on Bill Payments– Cardholders earn 5% cashback on electricity, gas, internet, and other bill payments on utilities through Google Pay. This applies only to Android users and get cashback a considerable amount of money on monthly needs.
- 4% Cashback on Popular Apps – You get 4% cashback on transactions done on Swiggy, Zomato, and Ola. This makes the card ideal for frequent food delivery orders and daily riders on Ola.
- 1.5% Unlimited Cashback on All Expenses – Other spend categories earn 1.5% cashback flat with unlimited. These include shopping, groceries, and offline spends, which is an excellent daily cashback card.
- Free Lounge Access – The card offers 4 free domestic airport lounge visits in a calendar year. This adds comfort and convenience for frequent flyers.
- Fuel Surcharge Waiver – You are offered a 1% fuel surcharge rebate for transactions ranging from ₹400 to ₹4,000. The benefit is limited at ₹500 per statement cycle and suits individuals with frequent fuel bills.
- Dining Discounts via EazyDiner -Avail of up to 15% discount on dining bills at over 4,000 restaurants while reserving through EazyDiner. The benefit offers extra value for frequent diners.
- Annual Fee Waiver – The ₹499 annual fee is waived if you spend ₹2 lakh or more amount of purchases in a year, so it’s essentially free for mid to high users.
- Contactless Payment Enabled – Tap-and-pay transactions are supported by the card, allowing faster, secure, and easy payments at NFC-enabled terminals.
Reward Points Structure and Redemption
Axis Bank ACE Credit Card has a simple cashback scheme instead of a classic reward points system. All qualified purchases earn cashback in simple way, which gets credited in the next billing cycle no tracking or redeeming points manually. This is how the cashback is structured:
- 5% Cashback on utility bill payments and mobile/DTH recharges done via Google Pay (only on Android devices).
- 4% Cashback on Swiggy, Zomato, and Ola spends.
- 1.5% Cashback on all other retail spends, both offline and online.
Cashback is automatically credited in the subsequent month’s statement. Cashback does not apply on fuel, wallet reloads, EMI spends, rent payments, and gold/jewellery buys. The limit for 5% and 4% categories combined is ₹500 cashback per statement cycle, whereas the 1.5% cashback has no limit.
Fees and Charges
The Axis Bank ACE Credit Card has the following fees and charges:
- Joining Fee: ₹499 + GST (one-time).
- Annual Fee: ₹499 + GST (waived if annual spend is above ₹2 lakh).
- Finance Charges: 3.75% per month (at 45% per annum if the entire balance is not repaid).
- Cash Advance Fee: 2.5% of the amount withdrawn (min. ₹500).
- Foreign Currency Mark-up: 3.5% on the value of the transaction.
- Late Payment Fees: Between ₹0 and ₹1,200 as per the amount due.
- Overlimit Fee: ₹500 for every statement cycle (when total expenses go beyond the credit limit).
- Returned Payment Fee: ₹350 if the bank returns a payment.
The charges may change and can be verified on the website of Axis Bank for the current charges.
Comparision
| Feature | Axis Bank ACE Credit Card | HDFC MoneyBack+ Credit Card | ICICI Bank Coral Credit Card |
|---|---|---|---|
| Cashback on Utility Bills | 5% on Google Pay (Android only) | 1.5% on all utility bill payments | 1% on utility bill payments |
| Cashback on Dining | 4% on Swiggy, Zomato, and Ola | 2% on dining spends | 2% on dining spends |
| Cashback on Other Spends | 1.5% unlimited | 1% on all spends | 1% on all spends |
| Annual Fee | ₹499 + GST (waived on ₹2 lakh annual spend) | ₹500 + GST (waived on ₹50,000 annual spend) | ₹500 + GST (waived on ₹1.5 lakh annual spend) |
| Joining Fee | ₹499 + GST (one-time) | ₹500 + GST (one-time) | ₹500 + GST (one-time) |
| Fuel Surcharge Waiver | 1% waiver on fuel transactions between ₹400 and ₹4,000 (maximum ₹500 per month) | 1% waiver on fuel transactions between ₹400 and ₹5,000 (maximum ₹250 per month) | 1% waiver on fuel transactions between ₹400 and ₹5,000 (maximum ₹250 per month) |
| Late Payment Charges | ₹100 to ₹1,200 depending on the outstanding balance | ₹100 to ₹1,200 depending on the outstanding balance | ₹100 to ₹1,200 depending on the outstanding balance |
| Finance Charges | 3.75% per month (annualized at 45% if the balance is not paid in full) | 3.49% to 3.75% per month (annualized at 41.88% to 45%) | 3.40% to 3.60% per month (annualized at 40.8% to 43.2%) |
| Cash Advance Fee | 2.5% of the withdrawn amount (minimum ₹500) | 2.5% of the withdrawn amount (minimum ₹500) | 2.5% of the withdrawn amount (minimum ₹500) |
| Foreign Currency Mark-up | 3.5% | 3.5% | 3.5% |
| Welcome Benefit | None | 500 Cash Points (applicable only on payment of membership fee) | 2,000 PAYBACK Points on spending ₹2 lakh in a year |
| Milestone Rewards | None | Gift voucher worth ₹500 on spends of ₹50,000 and above per quarter (up to ₹2,000 annually) | 1,000 PAYBACK Points for every ₹1 lakh spent beyond the first ₹2 lakh in a year (up to ₹10,000 PAYBACK Points annually) |
My Thoughts – Axis Bank ACE Credit Card Review
The Axis Bank ACE Credit Card provides a strong cashback system with 5% cashback on utility bill payments through Google Pay (available on Android only), 4% cashback on Swiggy, Zomato, and Ola, and 1.5% unlimited cashback on everything else. It’s a perfect card for those who regularly pay bills or avail themselves of food delivery and rideshare services. But it doesn’t have a welcome bonus or milestone incentives, which may turn out to be a determining factor for users who are drawn to more benefits. Moreover, other purchases such as fuel, gas station transactions, and wallet recharges are not covered under the reward scheme, which limits the category of cashback earning. On the other hand, the card provides simple cashback without the inconvenience of keeping track of points, making it a simple way to earn and reclaim rewards. Although the card’s reward scheme is simple and efficient, the absense of additional rewards for milestones or welcome offers may reduce its appeal in contrast to the competition.
Overall, the Axis Bank ACE Credit Card is perfect for individuals looking for simple cashback and bill payment rewards, but not ideal for individuals who expect additional benefits or rewards on more than just expenses listed above.
FAQ
- What are the most important advantages of the Axis Bank ACE Credit Card?
The Axis Bank ACE Credit Card provides 5% cashback on payments for utility bills using Google Pay (on Android) only, 4% cashback on Ola, Zomato, and Swiggy, and 1.5% cashback without a limit on all other transactions. It also gives 1% fuel surcharge waiver and 4 complimentary airport lounge visits in a year. - Is there a welcome gift or milestone rewards with the Axis Bank ACE Credit Card?
No, the Axis Bank ACE Credit Card does not have a welcome gift or milestone rewards. It is more about simple cashback rewards on daily spends. - What is the annual fee of the Axis Bank ACE Credit Card?
The annual fee for Axis Bank ACE Credit Card is ₹499 + GST, which is waived if annual spend is ₹2 lakh. - What kind of purchases are not considered for cashback rewards?
Fuel buying, wallet reloads, and gold/jewelry spending are not included in the cashback program. - How is the cashback credited on the Axis Bank ACE Credit Card?
Cashback is posted automatically to your card account in the following billing cycle, rendering it easy and convenient for customers to earn rewards.
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