Axis Bank Privilege Credit Card Review 2020

Axis Bank launched the Privilege credit card for frequent travelers. Privilege card is one of the best travel credit cards among the other Axis bank credit cards.

The card offers 2 Yatra gift vouchers worth Rs 5000 each in the first year as welcome gift and 1 voucher from the second year onwards. All this leads a saving up to 6% of the money spent (up to 4% from the second year).

Know more about Axis Bank Privilege credit card from here

Fee & Charges

First Year – INR 1500

Renewal Fee – INR 1500

Interest Rate – 2.95% per month

Cash Advance Fee – 2.5%, min of INR 250

Welcome Gift Axis Bank Privilege Credit Card

Get a travel Yatra travel voucher worth Rs 5000 on swiping your card thrice in 60 days. The welcome gift is more than thrice times the annual fee. That’s amazing

You can use the voucher for domestic flights, international flights, hotels, and holiday bookings. The Voucher has a validity of 4 months.

Bank offers no welcome gift on the renewal. Even there is no clause of annual fee waiver.

Bonus Benefit with

Get another Yatra gift voucher worth INR 5000 on the minimum annual spend of INR 2.5 lakh. You can redeem this voucher on www.edgerewards.axisbank.com

The reward rate is 2% (5000/2.5L*100). That’s really great.

Reward Points & Other offers

  • 10 points on every Rs. 200 spent on the credit card domestically/internationally (except fuel).
  • Enjoy a minimum 15% discount at over 4,000 partner restaurants with Axis Bank Dining Delights.
  • 8 complimentary access to domestic lounges within India.
  • Complimentary Insurance Cover Upto Rs. 2.5 crores

Fuel Benefit

Get a 1% fuel surcharge waiver at all the fuel stations across India on the transaction between INR 400 and INR 4000. Maximum fuel surcharge waiver capped at INR 400 per statement cycle.

Redemption of Reward Points

Redeem your reward points on www.edgerewards.axisbank.com. The redemption value of one reward point is INR 0.40.

You get 10 points on every Rs 200 spent. The value of 10 points is INR 4 (10*0.40). Which turns reward rate at 2% ( 4/200*100).

Let’s Calculate Percentage of Saving with Axis Bank Privilege Credit Card

Bank also calculate the amount that you can save per annum

This is a screenshot taken from the bank’s website.

axis bank privilege card

Check Your Eligibility

  • Applicants should be of age between 18 years and 70 years.
  • Applicant should be Indian Resident.
  • Annual income should be INR 6 lakh.

Document Required

  • Pan Card.
  • Address proof.
  • 1 passport size photograph.
  • Salaried class- latest one-month salary slip.
  • Self Employed- Latest IT Return with the computation of income.

Should You Apply For Axis Bank Privilege Credit Card?

If your average monthly spend through the card is a little more than INR 20,000 then you can go with this card. This will lead your annual spending to INR 2,50,000 & you get Yatra gift voucher worth Rs 5000.

If your annual spending is less than Rs 2,50,000, then you wouldn’t be a frequent traveler because 3-4 travel bookings in a year easily bring annual spending at this limit. In this case, you should go for a general-purpose credit card.

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