Axis Bank Ace Credit Card Review: How to Apply and Documents Needed?

The Axis Bank Ace Credit Card is a popular credit card offered by Axis Bank, one of the leading private sector banks in India. It is designed to provide a range of benefits and rewards to cardholders across various categories of spending.

Axis Bank ACE Credit Card
Axis Bank ACE Credit Card

Here are some key features and benefits of the Axis Bank Ace Credit Card:

1. Welcome Benefits: The card offers attractive welcome benefits to new customers, such as bonus reward points or cashback on the first few transactions made using the card.

2. Reward Points: Cardholders can earn accelerated reward points on their everyday spends, including dining, shopping, entertainment, and utility bill payments. These reward points can be redeemed for a wide range of options, including merchandise, travel bookings, and vouchers.

3. Milestone Benefits: The Axis Bank Ace Credit Card offers milestone benefits to customers who achieve certain spending targets. These benefits can include additional reward points, cashback, or vouchers.

4. Fuel Benefits: Cardholders can enjoy fuel surcharge waivers when they use the Ace Credit Card for fuel transactions at select fuel stations in India. This helps them save on their fuel expenses.

5. Dining Benefits: The card provides dining benefits in the form of discounts or cashback offers at partner restaurants and dining outlets across the country.

6. Global Acceptance: The Axis Bank Ace Credit Card is internationally accepted, allowing cardholders to use it for transactions worldwide, both at retail outlets and online platforms.

7. Contactless Payments: The card supports contactless payments, enabling customers to make quick and secure transactions by simply tapping their card on a contactless-enabled payment terminal.

8. Insurance Coverage: The Ace Credit Card offers insurance coverage, including air accident insurance and purchase protection, which safeguards your purchases against accidental damage or theft.

It’s important to note that the specific features, benefits, terms, and conditions of the Axis Bank Ace Credit Card may vary over time and can be updated by the bank.

It’s always advisable to check the latest information on the official Axis Bank website or by contacting the bank directly to get the most accurate and up-to-date details regarding the card.

Features and Benefits of Axis Bank ACE Credit Card

1. Earn cashback on every spend with the Axis Bank Ace Credit Card:

Enjoy 5% cashback* on bill payments such as electricity, internet, gas, and more, as well as DTH and mobile recharges made through Google Pay.

Get 4% cashback* on popular platforms like Swiggy, Zomato, and Ola.

Earn 2% cashback* on all other spends, ensuring rewards on every transaction you make.

2. Lounge Access

With your ACE Credit Card, you can avail yourself of the benefit of four complimentary lounge visits per calendar year at designated domestic airports. This perk allows you to relax and enjoy the comfort of airport lounges during your travels.

3. Benefit from fuel surcharge waiver with the Axis Bank Ace Credit Card:

Enjoy a 1% fuel surcharge waiver on fuel purchases made at all fuel stations across India.

The waiver is valid on transactions ranging from Rs. 400 to Rs. 4000, with a maximum benefit of up to Rs. 500 per statement cycle.

Please note that the GST charged on the fuel surcharge is non-refundable.

While you receive the fuel surcharge waiver, no cashback is earned on fuel transactions.

4. Savor the delights of dining:

Treat yourself to a wide range of mouthwatering cuisines with up to a 20% discount at over 4000 partner restaurants across India.

Experience the pleasure of exquisite dining while enjoying significant savings through this exclusive offer.

5.Conveniently convert your Credit Card purchases into EMI:

Don’t hesitate to make significant purchases with your Credit Card, as you have the flexibility to convert transactions of Rs. 2,500 or more into easy monthly installments (EMI).

Simply reach out to us, and we will assist you in converting your eligible transactions into manageable EMI options, making your big-ticket purchases more affordable and convenient.

Individuals eligible for Axis ACE Credit Card:

To be eligible for the ACE Credit Card, certain criteria should be met. It is important to note that these criteria are indicative, and the final decision to approve or decline applications rests with the bank.

The primary cardholder should fall within the age range of 18 to 70 years. This ensures that individuals within a broad spectrum of age groups can apply for the card and enjoy its benefits. Additionally, the individual should be a resident of India, which means that the card is specifically designed for those residing within the country.

It is crucial to remember that meeting these eligibility requirements does not guarantee automatic approval for the ACE Credit Card. The bank retains the right to assess each application on a case-by-case basis and make the final determination regarding approval.

Documents for ACE Credit Card application

To apply for the Axis Bank ACE Credit Card, you will generally need to submit specific documents. While there might be some variations based on individual cases, the following documents are typically required:

1. PAN Card photocopy or Form 60: This is necessary to verify your Permanent Account Number (PAN) or provide an alternative declaration if you do not have a PAN card.

2. Residence proof: You must provide a document to establish your residential address. Accepted proofs typically include a photocopy of your Passport, Driving License, Voter ID Card, or Aadhaar Card.

3. Identity proof: You need to submit a document that serves as proof of your identity. This can be a photocopy of your Passport, Driving License, Voter ID Card, or Aadhaar Card.

4. Colour photograph: A recent passport-sized color photograph is required for your credit card application.

5. Proof of income: You are generally required to provide supporting documents that validate your income. Accepted proofs of income can include your latest payslip, bank statement, Form 16, or Income Tax return copy.

It’s important to note that these document requirements are a general guideline, and there may be additional documents or variations depending on the specific circumstances and policies of Axis Bank. It’s advisable to contact the bank directly or visit their official website for the most accurate and up-to-date information regarding the documentation requirements for the ACE Credit Card application.

Axis Bank ACE Credit Card Fees and Charges

Here are the details of fees and charges associated with the Axis Bank ACE Credit Card, along with their rephrased versions:

1. Joining Fee: Rs. 499. The joining fee will be waived off if you spend more than Rs. 10,000 within 45 days of card issuance.

2. Annual Fee: From the 2nd year onwards, the annual fee is Rs. 499. However, it will be waived off if your annual spends exceed Rs. 2,00,000. Please note that rent transactions (MCC 6513) and wallet load transactions (MCC 6540) will not be eligible for spends counted towards the annual fee waiver.

3. Card Replacement Fee: No charges applicable.

4. Cash Payment Fee: Rs. 100 for cash payments.

5. Duplicate Statement Fee: No charges applicable for duplicate statements.

6. Charge Slip Retrieval Fee or Copy Request Fee: No charges applicable for charge slip retrieval or copy requests.

7. Outstation Cheque Fee: No charges applicable for outstation cheques.

8. Mobile Alerts for Transactions: Free of charge.

9. Balance Enquiry Charges: No charges applicable for balance enquiries.

10. Finance Charges (Retail Purchases and Cash): 3.6% per month (52.86% per annum).

11. Cash Withdrawal Fee: 2.5% of the cash amount, with a minimum of Rs. 500.

12. Overdue Penalty or Late Payment Fees:

  • No penalty if the total payment due is up to Rs. 500.
  • Rs. 500 if the total payment due is between Rs. 501 and Rs. 5,000.
  • Rs. 750 if the total payment due is between Rs. 5,001 and Rs. 10,000.
  • Rs. 1,200 if the total payment due is Rs. 10,001 and above.

13. Over Limit Penalty: 2.5% of the over limit amount, with a minimum of Rs. 500.

14. Cheque Return or Dishonor Fee or Auto-debit Reversal: 2% of the payment amount, subject to a minimum of Rs. 450 and a maximum of Rs. 1,500.

15. Surcharge on Purchase or Cancellation of Railway Tickets: As per the rates prescribed by IRCTC/Indian Railways.

16. Foreign Currency Transaction Fee: 3.5% of the transaction value.

17. Reward Redemption Fee: No charges for reward redemption.

18. Rent Transaction Fee (Applicable from 5th March 2023): 1% capped at INR 1,500 per transaction on rental transactions.

19. Dynamic Currency Conversion Markup (Applicable from 5th March 2023): 1% for international transactions performed in Indian currency at international locations or transactions performed in Indian currency with merchants located in India but registered in foreign nations.

Please note that all the above fees and charges are subject to applicable taxes as per government norms.

Conclusion: Should you apply for Axis Bank ACE Credit Card?

The Axis Bank Ace Credit Card offers a range of benefits, including cashback on various categories, lounge access, and the flexibility to convert purchases into EMI. With waived fees on specific spends and convenient features, this card is designed to enhance your lifestyle while providing rewarding experiences and financial convenience.

For those who loves cashback, Axis Bank ACE Credit Card is a great choice. Plus, joining fee is just Rs.499, making it a good entry level credit card.

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