Once Axis ACE credit card was a revolutionary beginner credit card in the market. Even it was competing with some high-end credit cards in terms of cashback rates. Currently it is still one the best beginner credit card which gives us best-in-class unlimited 2% cash back on offline spending and 5% on paying bills via Google Pay. But do we really need this card in 2024?
Let’s find out with this updated Axis ACE credit card review.
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Editor’s note: This is a recurring post, regularly updated with new information and offers. Last Updated 1st Jan 2024.
Axis Ace Charges and Welcome Benefits
| Joining Fees | ₹499 + 18% GST ~ ₹589 |
| Welcome Benefits | ₹500 cashback in bank account if applied via Google Pay App |
| Annual Fees | ₹499 + 18% GST ~ ₹589 |
| Annual Fee Waiver | Spend ₹2 Lakh on your Ace credit card in a year for an annual fee waiver*. |
| Add-on Fees | NIL |
| Card Category | Cashback |
*Rental and Wallet Transactions not included in annual fee waiver.
So now you have got the info about
Cashback Reward Rate for Axis Ace Card
| Spends Category | Cashback Rate | Capping |
| Cashback on bill payments (electricity, water, gas, LPG and broadband), DTH and mobile recharge through Google Pay Android App Only | 5% | ₹500 in monthly statement cycle combined of 5% & 4% Cashback rate category |
| Swiggy, Zomato and Ola** | 4% | |
| Other Eligible Spends including Offline stores | 2% | Unlimited |
**4% Cashback rate valid on the website as well as mobile application of Swiggy, Zomato and Ola. The list of merchants and their respective offers are subject to change from time to time without any prior notice by Axis Bank.
Not Eligible Transactions for Cashback
When Axis Ace came to market they were giving cashback on almost all kind of transactions but then many credit card users started using the card in the wrong way like for money rotation, and business transactions instead of personal, and thus Axis Bank became aware of the same and started new restrictions to cashback on such category transaction.
Currently, Cashback shall not be eligible for the below transactions:
- Fuel spends
- EMI transactions
- Purchases converted to EMI post facto
- Wallet loading transactions
- Cash advances
- Rental payments
- Purchase of gold/jewelry items
- Insurance Premium payments
- Educational services
- Payment of outstanding balances
- Payment of card fees and other card charges.
- Payments made towards government services (all transactions made on MCC – 9399).
So now you know where you can get cashback or not using an Axis Ace credit card and are still confused about whether you should go with this card or not? then let me tell that even after so many restrictions, Axis ace is still the leading cashback credit card which you can get in 2024 since it offers 2% cashback on offline spending along 5% cashback on recharge and bill payments via the Google Pay app.
Your Cashback earned for the purchases during the current billing cycle will be credited in the next billing cycle 3-4 days before the statement generation date. For example, if your billing cycle is 15th of every month then cashback earned in 16th Jan to 15th Feb will be credited in the next statement cycle around 12th March.
Other Benefits & Charges of Axis Ace Credit Card
Along with cashback on offline spends, recharges and bill payments, you will also get some benefits which is mentioned below.
Complimentary Lounge Access
Domestic Airport Lounge Access
Complimentary Limit – 4 Visits/ Calendar year within India only for primary cardholders.
Access Via – Credit Card
Card Network supported– Visa Signature/ MasterCard World
Fuel Surcharge Waiver
1% waiver for transactions between ₹400 to ₹4000. Maximum surcharge waiver of ₹500 per statement cycle.
Forex Markup
Forex markup charges are applicable of 3.5% +18% GST.
Cards Banking Tip for Axis Ace Credit Card
Spending Rs.10000 on recharge and bill payments via the Google Pay Android app or a mix of spending on bil payments and 4% cashback category can give you the Rs.500 cashback per month. Along with it if you can spend Rs.7000 on other online or offline merchants can give you 2% cashback which Rs.140 per month. So you will get Rs.640 cashback on spend of Rs.17000 and eventually in 1 year cycle you have spend Rs.2 lakh + which will also give you an annual fee waiver. Total cashback earned in 1 year will Rs.7680 which is not that bad on spend of 2 lakh. So average effective cashback you are getting is 3.8%.
ACE Credit Card Eligibility Criteria
For getting any credit card there is some eligibility criteria and of course, for the Ace credit card, Axis Bank have some well-defined income criteria for the card clearly. So, you must qualify for the following basic eligibility conditions to get Axis Ace credit card-
- You must be within the age bracket of 18 years and 70 years.
- You must be a resident of India. NRI not eligible for this card.
- You must have a steady income from either salary or self-employed along with a decent credit score.
Documents Required for Axis Ace credit card
In order for your Axis Ace credit card application to be processed by the bank, you need to submit the below documents to the Axis Bank via offline or online methods-
- Proof of Identity: Aadhaar Card, Voter ID Card, PAN Card, Driving license, Passport, etc.
- Proof of Address: Aadhaar Card, Voter ID, driving license, passport, any bank account statement, and latest telephone/electricity bill.
- Proof of Income: Salary slip & account statement in which salary gets credited (for salaried applicants) or ITR acknowledgment (for self-employed individuals)
Axis Bank ACE Credit Card Limit
Usually, banks don’t reveal the exact parameters that they take into consideration for giving the credit limit. However, some of the important things that define how much credit limit you will get on your credit card like your income, a good credit score of 750+, the existing no of credit cards, and their credit limits. The Axis Bank usually provides good credit limits for even its beginner credit cards such as ACE Credit Card. For example in my case when I was a salaried employee and had a salary of Rs.35000 per month then I had got a limit of Rs.55000 on my Axis Ace credit card. And after 6 months, it’s increased to Rs.120000. So even if you get the low credit limit initially then no issue with good usage of the card, and timely bill payment will give you a credit limit enhancement offer from Axis bank. The credit card limit is not a particular fixed amount for each & every cardholder. Still, it varies based on their income, relationship with the bank, credit history, and some other factors.
How to Apply for an Axis Bank ACE Credit Card?
👉Apply for Axis Ace Credit Card Online
In the world of the internet now doing things online has become very easy. Axis Bank also gives you the option to choose the application process of Axis Ace credit card via online and offline methods. But we suggest you go with the online method as you can submit your Ace credit card application process in just 5 minutes. Going offline method takes time and may be not an easy task for everyone. You can very easily apply for the Axis Bank ACE credit card by clicking on the Apply Now link above. The online process will be smoother for you if you are already an Axis Bank customer. You will also need to submit a few documents to complete your application, including identity & address proof (Voter card, Aadhar card, PAN card, and proof of income (salary slips, audited ITR acknowledgment).
Axis Bank ACE Credit Card Customer Care
I have personally experienced the Axis Bank customer services and i would say they provide great customer support services to their credit card customers. In case you need any help or want to report unauthorized transactions on your Axis ace credit card, you can simply dial 18604195555/18605005555. These numbers are reachable 24×7. You can also block your card by simply sending an SMS – BLOCK XXXX to 5676782.
Axis Ace Credit Card Review Final Verdict
Amid all the latest devaluations, the Axis Ace credit card still has some juice left especially the 2% unlimited cashback on offline spending. At such a low fee point, easy-to-achieve fee waiver for many customers, and reasonable cappings on a usually low rewarding category like bill payments this card is a still showstopper as of now in 2024.
Currently, the Axis Bank Ace credit card is being issued only by Google Pay App on an invite-only basis. You can also apply it on the Axis Bank mobile app if you have a pre-qualified offer. Of if you already hold an Axis Ace cedit card then you can call Axis Bank customer care and ask for this card. I am still using this Ace card quite extensively along with the Axis Flipkart credit card since its launch.
The only con I found is Axis Ace card is Apple iOS users can’t get the benefit of this card Google Pay iOS app.
Using SBI Cashback for online and Axis Ace credit card for offline is also good if you like to over-optimize your spending and don’t want to spend much on joining/annual fees. Don’t forget to check out more review on credit cards.
