Axis Bank on Wednesday, December 20, announced its strategic partnership with American Express with the launch of the Axis Bank Privilege Credit Card on the American Express network. With this partnership, Axis Bank customers will get the local and global benefits of the American Express network, the lender said in a statement.
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Features and benefits
The card has an activation benefit worth ₹5,000 and two complimentary domestic lounge access per calendar quarter.
Card members can get activation vouchers from marquee merchants on defined spend thresholds on the card, and instant discounts on online merchants including Swiggy, Blinkit and Zomato.
It also offers access to a host of local and global benefits like dining discounts, and privileges at hotels and retail outlets around the world, and Card member experiences including pre-ticketing access to sporting and entertainment events.
Axis Privilege Credit Card offers bonus reward points as a welcome benefit, which are redeemable against multi-brand vouchers. Cardholders must make the first transaction within 30 days of card setup to avail of this benefit, according to Paisabazaar.
More details
For priority banking customers: 6,250 EDGE reward points redeemable against 1 multi-brand voucher worth ₹2,500
For other customers: 12,500 EDGE reward points that can be redeemed against two multi-brand vouchers worth ₹5,000, i.e., ₹2,500 each
As part of the milestone benefits on the Axis Bank credit card, customers can earn bonus EDGE reward points and double their cash value on their redemption against vouchers.
Fees and charges
| Fee/Charge | Amount |
| Joining Fee | ₹1,500 (Nil for Priority Customers) |
| Annual/ Renewal Fee | ₹1,500 (Reversed on spending ₹2.5 lakh in a year) |
| Finance Charges | 3.6% p.m. (52.86% p.a.) |
| Late Payment Fee | For Outstanding Amount- |
| Less than ₹500: Nil | |
| From ₹501 to ₹5,000: ₹500 | |
| From ₹5,001 to ₹10,000: ₹750 | |
| Greater than ₹10,000: ₹1,200 | |
(Source: Paisabazaar)
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