Here’s a comprehensive review of the Axis Bank Ace Credit Card, focusing on its features, benefits, and how it’s perceived by users:
Overview:
The Axis Bank Ace Credit Card is designed for consumers looking for straightforward cashback rewards on everyday spends, with a particular emphasis on utility bill payments and certain online platforms. It’s popular among users for its cashback structure, although it has undergone devaluations over time, affecting its overall appeal.
Key Features:
- Cashback System:
- 5% Cashback: On utility bill payments (like electricity, gas, water) and mobile/DTH recharges through Google Pay, with a monthly cap of ₹500.
- 4% Cashback: On spends at Zomato, Swiggy, and Ola, with the same cap of ₹500 per month when combined with the 5% category.
- 1.5% Cashback: On all other spends, with no monthly cap mentioned for this category but typically not earned on fuel, insurance, wallet loads, etc.
- Welcome Benefits:
- Often includes cashback or vouchers on the first transaction, but specifics can vary.
- Other Benefits:
- Airport Lounge Access: Complimentary domestic lounge access, typically 4 visits per year.
- Dining: 20% off at 4,000+ partner restaurants through the Dining Delights program.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹400 to ₹4,000, max ₹500 per statement cycle.
- Fees:
- Joining/Renewal Fee: ₹499 + GST, which can be waived on spending ₹2 lakh annually.
Pros:
- High Cashback on Utilities and Daily Use: The 5% on utility payments via Google Pay is a significant advantage, especially for those with high utility bills.
- Simple Cashback Structure: Direct cashback credited to the card account avoids the complexity of point redemption systems.
- Dining and Travel Perks: Offers some lifestyle benefits like dining discounts and lounge access for a card at this price point.
Cons:
- Devaluation: Over time, the card has seen reductions in cashback rates (from 2% to 1.5% on general spends) and capping of previously uncapped benefits, which has affected its value proposition.
- Google Pay Limitation: The 5% cashback is only available if payments are made through Google Pay, which might not be ideal for iOS users or those not using digital wallets.
- Capped Rewards: The monthly caps on high cashback categories can limit the card’s benefits for high spenders.
- No International Lounge Access: Only domestic lounge access is provided, which might not appeal to international travelers.
User Feedback:
- Positive:
- Users appreciate the direct cashback on utility bills and daily use platforms like Swiggy and Zomato, especially when these align with their spending habits.
- The card’s simplicity in earning and using rewards is often highlighted as a plus.
- Negative:
- There’s feedback regarding the devaluation of the card, particularly the reduction in the base cashback rate.
- Some users have expressed frustration over the Google Pay requirement for utility bill cashback, especially for non-Android users.
- There are occasional mentions of issues with cashback not being credited correctly or delays in crediting.
Conclusion:
The Axis Bank Ace Credit Card remains a good option for:
- Regular Users of Google Pay for Utilities: If you pay utility bills through Google Pay frequently, this card can offer substantial savings.
- Online Shoppers and Food Orders: If your spending includes a lot of Zomato, Swiggy, or Ola, the card’s cashback structure is beneficial.
However, its value has decreased with recent changes, and it’s now more critical to align your spending with where the card offers the highest rewards. If your usage patterns don’t match these categories or if you seek a card with broader or uncapped rewards, you might consider other options. Remember to check if you can meet the spending threshold for fee waivers to maximize the card’s benefits.