Here’s a detailed review of the Axis Bank MyZone Credit Card, focusing on its features, benefits, and how it’s perceived by users:
Overview:
The Axis Bank MyZone Credit Card is often positioned as an entry-level or lifestyle card, targeting young adults or those who enjoy dining, entertainment, and online shopping. It’s known for offering benefits like discounts on Swiggy and movie tickets, alongside a complimentary SonyLiv subscription.
Key Features:
- Rewards and Discounts:
- 4 Reward Points: Per ₹200 spent on all purchases, which translates to a reward rate of 0.4%.
- Swiggy Discount: 20% off up to ₹120 on Swiggy twice a month, on orders of ₹200 or more.
- Movie Offers: Buy One Get One (BOGO) offer on movie tickets via Paytm, with a maximum discount of ₹200 per month.
- Welcome Benefits:
- SonyLiv Subscription: Complimentary annual premium SonyLiv membership on your first transaction within 30 days of card issuance.
- Other Benefits:
- Airport Lounge Access: One complimentary domestic lounge access per quarter.
- Dining Benefits: Through the Dining Delights program, offering discounts at partner restaurants.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹400 to ₹4,000, with a maximum of ₹400 per statement cycle.
- Fees:
- Joining/Renewal Fee: ₹500 + GST, which might be waived on spending ₹2 lakh annually or during promotional periods where it’s offered as Lifetime Free (LTF).
Pros:
- Entertainment and Dining Discounts: The Swiggy and movie ticket offers are significant draws for those who enjoy these activities.
- OTT Subscription: The free SonyLiv membership adds value, especially for entertainment seekers.
- Affordable: With the potential for fee waivers, it’s an accessible card for many, particularly when offered LTF.
Cons:
- Low Reward Rate: 4 points per ₹200 isn’t particularly competitive in the market for general spending.
- Limited Benefits: The card’s perks are heavily centered around entertainment and dining, potentially limiting its utility for broader spending categories.
- Changes in Offers: The Swiggy discount has seen changes from higher percentages to the current 20%, which might affect its attractiveness over time.
- Lounge Access: Only one visit per quarter might not meet the needs of frequent travelers.
User Feedback:
- Positive:
- Users often commend the card for its Swiggy discounts and the BOGO movie offer, seeing these as tangible benefits for everyday entertainment.
- The SonyLiv subscription is appreciated by those who value OTT platforms.
- When offered as LTF, the card’s value proposition increases significantly.
- Negative:
- Some feedback includes disappointment over the reduction in Swiggy discounts from previous higher rates.
- There’s a sentiment that the reward points system isn’t very rewarding compared to other cards at similar price points.
- Users occasionally report issues with the implementation of offers or discrepancies in reward point crediting.
Conclusion:
The Axis Bank MyZone Credit Card is well-suited for:
- Entertainment and Dining Enthusiasts: If you regularly use Swiggy for food delivery or enjoy movies, this card can offer real savings.
- OTT Content Consumers: The complimentary SonyLiv subscription adds value if you’re interested in their content.
However, if you’re looking for a card with a more robust rewards program or broader benefits across various spending categories, you might find this card lacking. It’s also worth noting that its value can fluctuate based on promotional offers or changes to its benefits structure. Review your spending habits to see if the card’s specific perks align with your lifestyle.