Synopsis: ₹8 for every ₹100 spent, that is the strength of the Airtel Axis Bank Credit Card in optimal use. By offering high cashback on bills, groceries and daily expenses, it can make ₹2 lakh of annual expenses become ₹16000+ in actual savings. This card manages to offer serious value in a world of devaluations.
Credit cards are no longer an instrument of borrowing; it is a powerful financial instrument that can give real returns when used in a strategic manner. In a low-value and low-cap world, a decision on the right card may help earn 1% in basic cashback and save 8% in significant ways.
The Airtel Axis Bank Credit Card, a joint venture between Airtel and Axis Bank, is one such high value cashback card. It is a partnership that combines the banking incentives with the telecom expenditure, and hence it is particularly potent when the households are already subscribers to the Airtel mobile, broadband or DTH services.
This card is constructed around the most basic cash needs, such as telecom bills, utility bills, groceries, and food delivery as opposed to generic cashback cards. Making the value practical is that. When used effectively, it can give a customer a 6-8% payback on every 100 bucks they spend which translates to approximately 16,000 on an annual expenditure of 2 lakh rupees without the yearly fee being substantial and even free.
The Airtel Axis Bank Credit Card is free with a joining fee of ₹500 and an annual fee of ₹500 (both inclusive of GST). The second year annual fee is not charged provided that you spend ₹2,00,000 last year. On the international transactions, the card has a 3.5% forex mark up fee together with GST. This implies that should you be spending 10,000 in a foreign country, you will end up paying an extra ₹350 to pay the forex.
The requirement to apply is to be a resident of India aged 18 to 70 years. Both the salaried and self-employed individuals are eligible, but the income and credit score of applicants have to meet the requirements of Axis Bank. Individual will be required to provide PAN, valid identity and address documents and income documents during the application.
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The Airtel Axis Bank credit card has a series of rewards and benefits related to daily purchases and lifestyle value including Welcome and Instant Rewards such as ₹500 Amazon e-voucher on the first transaction made within the first 30 days of card issuance and a cashback on Key Spends, such as 25% cashback on Airtel mobile, broadband, Wi-Fi and DTH bill payments through the Airtel Thanks app, 10% cashback on utility bill payment such as electricity, gas, water, etc. through the Airtel Thanks app, 10% cashback on food delivery and online groceries, Zomato, Swiggy, BigBasket and 1% cashback on all other qualifications.
Travel and convenience benefits are also offered with credit card, like 4 free visits of domestic airport lounge per annum with minimum expenditure of ₹50,000 within past 3 months.
and 1% waiver of the fuel surcharge on petrol pumps purchases between ₹400, to ₹4000 and Lifestyle Perks, like the availability of food and beverage pleasures provide deals and even midweek discounts (flights, hotels and food via partner applications).
An individual can also transfer massive purchases into EMIs in case of necessity and the amount of cashback received is directly added to the card statement the following billing cycle.
Value chat
If ₹2,00,000 spend earns about ₹16,000 back, that is, 16,000/2,00,000 = 8%return. This implies that we make ₹8 for every 100 rupees we spend given that we maximize the high-cashback categories.
Conclusion
Airtel Axis Bank Credit Card is one of the most viable cashback cards to use in daily lives and particularly those who already use Airtel services. When it is applied strategically in its expedited categories, it can actually achieve approximately 8% effective returns which is a good number in the current undervalued credit card market. This card is not only a payment tool to the right user, but also a regular savings tool.
Written by Boyapati Sai Jasmitha
