Introduction:

The Axis Bank My Zone Credit Card is tailored for those who enjoy entertainment, dining, and shopping. With numerous benefits, such as complimentary subscriptions and discounts, it is designed to enhance everyday spending experiences.

Key Highlights:

  • Welcome Benefits:
    • Free SonyLiv Premium Annual Subscription on the first spend within 30 days.
  • Reward Points/Cashback:
    • 4 EDGE Reward Points per Rs. 200 spent.
    • No reward points on fuel, rent, utilities, educational services, government institutions, and wallet transactions.
  • Entertainment and Dining:
    • Buy One Get One (BOGO) offer on movie tickets booked via Paytm Movies.
    • Flat Rs. 120 off on Swiggy orders (twice per month, minimum order value of Rs. 500).
    • Up to 15% off at partner restaurants with the Axis Bank Dining Delights program.
  • Shopping Perks:
    • Rs. 1000 off on select styles at AJIO for spends over Rs. 2999.
  • Travel Benefits:
    • 1 complimentary domestic lounge access per quarter (4 per year).

Fees and Charges:

  • Joining Fee: Rs. 500 + GST.
  • Annual Fee: Rs. 500 + GST (Lifetime Free for online applications).
  • Interest Charges: 3.6% per month (52.86% annually).
  • Foreign Currency Markup: 3.5% of the transaction amount.
  • Cash Advance Fee: 2.5% of the withdrawal amount, subject to a minimum charge of Rs. 500.

Additional Benefits:

  • Fuel Surcharge Waiver: 1% waiver on fuel surcharge for transactions between Rs. 400 and Rs. 4,000, capped at Rs. 400 per month.
  • Utility Bill Payment: Pay your utility bills using the EasyBillPay facility.
  • Balance Transfer on EMI: Transfer the outstanding balance of other banks’ credit cards to your My Zone Card and pay back in EMIs at a lower interest rate.

Pros and Cons:

Pros

  • Free SonyLiv Premium subscription.
  • High value on entertainment and dining benefits.
  • Complimentary lounge access.
  • Affordable joining and annual fees with a waiver for online applications.

Cons

  • Low reward rate on general spending.
  • No reward points on specific categories like fuel, rent, and utilities.
  • Limited travel benefits.

Eligibility Criteria:

  • Age: 18 to 70 years.
  • Income: Minimum annual income of Rs. 2.4 lakhs for salaried individuals and Rs. 3 lakhs for self-employed individuals.
  • Credit Score: Good credit history required.

Reward Redemption:

  • EDGE Rewards:
    • Redeem EDGE Reward Points for a variety of options including travel, shopping vouchers, and merchandise.
    • 4 EDGE Reward Points per Rs. 200 spent translates to 0.4% cashback.

Comparison with SimplyCLICK SBI Credit Card:

Feature Axis Bank My Zone Credit Card SimplyCLICK SBI Credit Card
Joining Fee Rs. 500 + GST Rs. 499 + GST
Annual Fee Rs. 500 + GST (waived for online applications) Rs. 499 + GST (waived on annual spends of Rs. 1 lakh)
Welcome Benefits Free SonyLiv Premium Subscription Rs. 500 Amazon voucher
Reward Points/Cashback 4 EDGE Reward Points per Rs. 200 spent 10X on partner websites; 5X on other online spends; 1X on other spends
Entertainment Benefits BOGO on movie tickets via Paytm Movies None
Dining Benefits Flat Rs. 120 off on Swiggy orders None
Complimentary Lounge Access 1 per quarter (4 per year) None
Fuel Surcharge Waiver 1% (Rs. 400 – Rs. 4,000) 1% (Rs. 500 – Rs. 3,000)
Foreign Currency Markup 3.5% + GST 3.5% + GST
Cash Advance Fee 2.5%, min Rs. 500 2.5%, min Rs. 500

Conclusion:

The Axis Bank My Zone Credit Card is an excellent choice for individuals who frequently indulge in movies, shopping, and dining. With attractive benefits such as a free SonyLiv subscription, BOGO movie tickets, and discounts on Swiggy orders, it offers significant value for its users. However, its low reward rate on general spending and lack of travel perks might not make it ideal for everyone.