Axis Bank Privilege Credit Card – Benefits, Eligibility & Application Process

Lazy days of vacation with a drink of your choice, perhaps in an airport lounge that is chic and fine dining restaurants with a healthy 20% discount. Shop happily with all your favourite brands, earning points without even trying. Sounds like a dreamy life, right? 

The dream of the Axis Bank Privilege Credit Card is finally a reality, specifically for the lifestyles of the rewards and benefits for those seeking something more from their credit cards: privileges in a card designed just for those seeking more. 

Want to redeem some dining discounts, earn rewards points for your travels and shopping, or gain free airport lounge access? The Axis Bank Privilege Credit Card has all of this for you. So, let's explore the features of this credit card that make it imperative for anyone wanting to upgrade his or her spending. 

What Is the Axis Bank Privilege Credit Card?

The Axis Bank Privilege Credit Card is a premium credit card for those wishing to enjoy high rewards and luxury services. It grants benefits best suited for the lifestyle you lead—from reward points on almost all purchases to airport lounge access and discounts in fine dining restaurants. The Axis Bank Privilege Credit Card gives access to an array of lifestyle benefits, including.

• Reward points for every ₹200 spent.
• Discounts at more than 4,000 partner restaurants.
• Free access to domestic airport lounges.
• Insurance coverage for purchases and travel accidents.
  
  

In short, this card offers many avenues for earning and saving and is thus an ideal choice for people who enjoy the finer things in life.

Axis Bank Privilege Credit Card: Key Features

The Axis Bank Privilege Credit Card is one of those cards that will stand out for a host of attractive benefits. However, in the following lines, a few key highlights of the card have been given:

These features ensure that you enjoy premium benefits that are both practical and rewarding.

Benefits of the Axis Bank Privilege Credit Card

The Axis Bank Privilege Credit Card has various benefits catering to lifestyle, travel, and shopping needs. Let’s take a closer look at each of them:

1. Reward Points

You get 20 EDGE Reward Points for every ₹200 spent on the Axis Bank Privilege Credit Card, regardless of spending in India or abroad. Such points can be redeemed to gain shopping and travel vouchers, gift cards, etc.

The more you use your card, the more reward points you accumulate, which can be redeemed for exciting rewards.

2. Dining Delights Program

One of the significant advantages of this Axis Bank Privilege Credit Card is that it comes with a fantastic Dining Delights Program offering up to 20 per cent rebate at over 4,000 partner restaurants in India, saving for you while tempting those taste buds either with that favourite local eatery or with this lavish meal.

3. Airport Lounge Access

Home Airports Lounge: 2 complimentary accesses each quarter (8 accesses in a year). This is best used for frequent travellers since, at times, they require rest before boarding flights. You must have spent at least ₹50,000 in the last quarter to earn this privilege.

4. Insurance Coverage

The Axis Bank Privilege Credit Card comes with full insurance coverage. Some of them are:

• Purchase Protection: It will cover loss or damage to the purchase.
• Travel Insurance: It protects against baggage loss, travel documents, and delays.
• Credit Shield: Against outstanding dues due to disability or death.
  
  

5. Milestone Benefits

You will be accruing 10,000 extra EDGE Reward points, equivalent to ₹2,000 in a year if you spend ₹2.5 lakh or more each year on your Axis Bank Privilege Credit Card. That is another nice way of getting rewards for overspending.

Credit Card Cashback & Rewards

The reward system is the best attribute of the Axis Bank Privilege Credit Card. One earns 20 EDGE Reward Points for every spending of ₹200. These rewards can be converted into shopping vouchers, travel experiences, cashbacks, and rewards in different categories.

You can redeem these points for gift vouchers, cashback, travel tickets, or even luxury items, making your spending more rewarding.

Axis Bank Privilege Credit Card Fees & Other Charges

While there are some pretty amazing benefits in the Axis Bank Privilege Credit Card, there are some fees and charges involved. So here are the primary fees you need to know about:

Late Payment Fee

If you miss a payment, you may be charged a late payment fee, which will hike depending on the outstanding balance amount. Here's how it goes as follows:

To avoid these fees, paying your credit card bills on time is crucial.

Pros and Cons of the Axis Bank Privilege Credit Card

All credit cards have some disadvantages along with advantages associated with them. Let us go to the advantages and disadvantages column of the Axis Bank Privilege Credit Card:

Pros:

• Reward points high: Get 20 EDGE Reward Points per every ₹200
• Restaurant discount: Relish Up to 20% at more than 4,000 restaurants.
• Airport lounge: Access free lounge airport (8 times in a year)
• Insurance cover: It offers purchase insurance and travel insurance. 
• Milestone benefits: Earning reward points on spending toward the target.

Cons:

• The annual fee is very high: ₹1,500 with a waiver applicable when the spending is more.
• Lounge access is restricted: Only domestic and international lounges are unavailable.
• Utility bills: Excluded categories wherein spending on utility payments of bills does not generate reward points.
• Monthly interest rate: At 3.4% on overdue.
  
  

Eligibility Criteria for the Axis Bank Privilege Credit Card

Before applying for the Axis Bank Privilege Credit Card, you should know whether you are eligible to apply or not. Here are the eligibility criteria:

• Age: Between 18 to 70 years
• Income: Minimum ₹6 lakh per annum
• Employment: Salaried or self-employed
• Credit Score: A good credit score (750+ recommended)
• Residency: Indian residents only

If you meet these criteria, you are eligible to apply for this credit card.

How to Apply for the Axis Bank Privilege Credit Card?

You can apply for the Axis Bank Privilege Credit Card through two methods: online and offline.

1. Online Application:

• Visit the Axis Bank official website.
• Click “Explore products” in the top left corner of the home page.
• In the drop-down menu, click on the” Card” > “Credit Card” section.
• You will be directed to all the credit card pages.
• Click the “Axis Bank Privilege Credit Card” or “Apply Now” option.
• On the next page, answer this question yes or no: “Are you an existing Axis Bank customer?”
• The application process has 3 steps: 
  • Check eligibility
  • Offers for you
  • Complete the application
• Fill out the application form with your personal and financial details.
• Upload the required documents (identity proof, address proof, income proof).
• Complete your application, and you’ll be contacted by the bank for further processing.
  
  

2. Offline Application:

• Visit your nearest Axis Bank branch.
• Request the credit card application form.
• Fill out the form and submit the necessary documents.
• Once the bank verifies your documents, you’ll be notified of the approval status.

Axis Bank Privilege Credit Card vs. Other Premium Cards

A premium credit card comes with numerous privileges. Before taking a decision for a premium credit card, options in the market need to be weighed. Luxury benefits are not unique to most credit cards, but what makes the Axis Bank Privilege Credit Card stand out?

Comparing Axis Bank Privilege Credit Card to Other Premium Cards

Axis Bank Privilege Credit Card vs. HDFC Diners Club Privilege Card

• Rewards Points: Both the cards offer fabulous rewards points programmes; however, with the Axis Bank Privilege Credit Card, there are 20 EDGE Reward Points per ₹200 spent as compared to 3 reward points per ₹150 spent with HDFC Diners Club. Hence, for an avid shopper, the Axis card is likely going to give you more bang for your spending bucks.
  
  
• Dining Privileges: The Axis Bank Dining Delights Program offers discounts up to 20% at over 4,000 restaurants, and HDFC Diners Club offers the same dining privileges with discounts up to 15% at some restaurants.
  
  
• Airport Lounge Access: Both offer lounge access, but Axis Bank Privilege Credit Card offers 2 free visits a quarter, so 8 every year, against HDFC Diners Club of 6 a year.
  
  

Axis Bank Privilege Credit Card vs. Standard Chartered Manhattan Platinum Card

• Reward Points: AXIS Bank Privilege gives 20 EDGE Reward points per ₹ 200; on the other hand, Standard Chartered Manhattan awards 5 reward points for every ₹ 150 spent.
  
  
• Cashback & Discounts: While Axis Bank offers great discounts at partner restaurants and lounges, Standard Chartered focuses on cashback on grocery and supermarket purchases. However, Axis Bank Privilege is the best in overall rewards and exclusive benefits.
  
  
• Insurance & Protection: The Axis Bank Privilege card offers full insurance coverage, including purchase protection and travel insurance. Standard Chartered's card offers protection but does not offer all the detailed benefits that Axis Bank offers, such as travel inconvenience insurance.
  
  

Key Takeaways

• Axis Bank Privilege Credit Card offers a more rewarding points system, better dining discounts, and insurance coverage than many other premium cards.
  
  
• For those who require frequent lounge visits and enjoy more rewards on retail purchases, the Axis Bank Privilege Credit Card is highly recommended.

How to Maximise the Benefits of the Axis Bank Privilege Credit Card?

Understanding the key features and advantages of the Axis Bank Privilege Credit Card, let's discuss some essential tips on how to maximise your benefits with this card to its full potential:

Redeem All Your Reward Points

• Use the Card for Everything: You can use the Axis Bank Privilege Credit Card to pay for your daily grocery bill and the enormous shopping bills in one place and earn the maximum reward points possible.
  
  
• Redeem Points Wisely: Redeem your points for high-value rewards such as travel tickets, shopping vouchers, and cashback, rather than redeeming them on low-value items. Keep track of special redemptions to get better value for your points.
  
  

Make use of the Dining Delights Program

• Dine Out Often: If you are a frequent diner out, do not forget to use the 20% discount at more than 4,000 restaurants. For this, check Axis Bank's website or mobile application for the list of restaurants.
  
  
• On Special Occasions: Use your Axis Privilege Credit Card on special occasions to enjoy dining discounts and also earn points on your meals.

Avail Lounge Access End

• Use Lounge Access When Travelling: Axis Bank Privilege Credit Card provides 2 complimentary lounge visits in a quarter. Try to use that during your travel before your flight to relax there.
  
  
• Keep Count of Lounge Visits: The lounge visits are available on the Axis Bank app or website; you can check the number of visits and use all 8 trips in the year.

Apply Milestone Rewards to Unlock Better Benefits

• Use Milestone Spend: Use Milestone Spend if you have expenses over ₹2.5 lakhs annually because you can save 10,000 more reward points. For this feature alone, if you spend on such high-value stuff, record all the spending.

Option of Insurance Cover

• Know Your Coverage: Familiarise yourself with the purchase protection and travel insurance benefits. Ensure you activate these services whenever you make a high-value purchase or book your travel tickets to ensure you are covered in emergencies such as baggage loss or travel delays.
  
  

Tips for Managing Your Axis Bank Privilege Credit Card

Managing premium credit cards, such as the Axis Bank Privilege Credit Card, is necessary because you will incur unnecessary fees if not managed properly. Here are some tips on how to handle your card responsibly:

1. Pay Your Bills on Time

• Avoid Late Fees: One of the most important factors when managing credit cards is that your bills get paid on time. The interest on late payments can also bring a hit to your credit score. So remind yourself about due dates or just enable automated bill payments.
  
  

2. Monitor Your Expenditures

• Stay Within Your Limit: Track your expenses to keep yourself within the credit limit. High spending might result in more interest, so time should be taken to track purchasing habits.
  
  
• Use the Axis Bank Mobile App: The Axis Bank mobile app provides real-time updates on all transactions, spending, and remaining available credit limits. This is a very valuable tool for operating the card effectively.
  
  

3. Healthy Use of Your Credit Card

• Avoid Cash Advances: Huge fees and interest charges on cash advance transactions that go through your Axis Bank Privilege Credit Card. Make a habit of paying everything by card, not using the card for cash advances.
  
  
• Keep a Low Balance: Always pay off your balance fully so that you're not paying for any interest on your balance. This will give you maximum reward value without attracting any heavy interest. 

4. Beware of Sneaky Fees

• Foreign Transaction Fee: If you are going abroad, observe the 3.5% foreign transaction fee, which will be added if you spend on foreign currency. Just note it in your budget.
  
  
• Over-limit Charges: Make sure not to exceed the credit limit and be watchful of over-limit charges. Avoid crossing your credit limit to prevent both over-limit charges and damaged credit scores.
  
  

5. Take advantage of Promotional Offers

• Promotions and Offers: The Axis Bank will often run bonus reward points or exclusive offers at select outlets. Keep yourself updated with those offers and get the most benefit.
  
  

How the Axis Bank Privilege Credit Card Enhance Your Travel Experience?

The Axis Bank Privilege Credit Card is there to provide you with comfort. Whether it is for business or leisure travel, this card takes your travel experience to an altogether different level with these features:

1. Airport Lounge Access

• With 2 complimentary visits per quarter to domestic airport lounges, you can enjoy a calm, comfortable environment before your flight, with most lounges offering refreshments, Wi-Fi, charging stations, and even showers to ensure refreshing on your journey.

2. Travel Insurance

• As a cardholder, you get coverage under an Axis Bank travel insurance policy for issues such as baggage delays, flight delays, and trip cancellations. Internationally, it may frequently happen that your travel is interrupted at short notice.

3. Discounts on Travel Bookings

• Axis Bank has partnered with travel agents, such as Yatra and MakeMyTrip, to save money on hotel bookings, flight tickets, and holiday packages. This is one of the best discounts for frequent travellers to reduce their travelling costs.
  
  

Conclusion

Ideally suited for anyone who wants to get the maximum out of what they spend, the Axis Bank Privilege Credit Card offers all premium benefits—from rewards on each transaction, fine dining discounts, and airport lounge privileges to immense insurance coverage—which makes the card a phenomenal value. 

Despite the fees on the higher side, it is worth what one pays to make the best of the available privileges. The Axis Bank Privilege Credit Card helps make your lifestyle more enjoyable by providing several significant savings and benefits, especially if you are an avid traveller or foodie or enjoy accumulating rewards from purchases.

FAQs Related to Axis Bank Privilege Credit Card

What is the annual fee for the Axis Bank Privilege Credit Card? 

The annual fee is ₹1,500, which can be waived on spending ₹4 lakh annually.

How do I earn reward points?

You earn 20 EDGE Reward Points for every ₹200 spent on domestic and international purchases.

How many airport lounge visits can I avail? 

You can enjoy 2 domestic airport lounge visits per quarter, totaling 8 visits annually.

Can I redeem my reward points for cashback?

Yes, you can redeem reward points for shopping vouchers, cashback, or even travel rewards.

How can I apply for the Axis Bank Privilege Credit Card? 

You can apply online through the Axis Bank website or offline at a branch near you.

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