Axis Bank My Zone Credit Card: Here are its rewards, benefits and more

The Axis Bank My Zone Credit Card presents an ideal entry point into the bank's credit offerings. With a modest annual membership fee of just ₹500, cardholders are greeted with a complimentary premium subscription to SonyLiv, valued at ₹999. Despite its nominal fee, this card boasts an array of value-added perks. These include enticing movie and dining offers, complimentary access to domestic airport lounges, and more.

In terms of rewards, users accrue 4 EDGE points for every ₹200 spent, where 1 Edge reward equals ₹0.20. Additionally, there's a monthly 'buy 1 get 1 free' offer on movie tickets via Paytm Movies. To cater to dining preferences, Axis Bank extends up to a 15% discount, capped at ₹500, for dining experiences using this credit card. Moreover, cardholders enjoy complimentary access to domestic airport lounges every quarter. Milestone benefits, along with enticing discounts from renowned brands like Ajio, further augment its appeal.

This version aims to maintain clarity and conciseness while highlighting the benefits and features of the Axis Bank My Zone Credit Card.

Eligibility criteria

The primary cardholder should fall within the age bracket of 18 to 70 years. Add-on cardholders must be at least 15 years old. A stable and verifiable source of income is necessary and the cardholders need to be either Indian residents or NRIs.

Fees

Enrollment fee: ₹500 + applicable taxes.

Annual fee: ₹500 + GST

Annual waiver: None

Rewards and benefits

• Welcome benefit: Upon your first transaction within 30 days of receiving the card, you're entitled to a complimentary annual premium membership of SonyLiv valued at ₹999.
• You accrue 4 EDGE points for every Rs. 200 spent using the card. However, please note that Edge Rewards are not earned on transactions related to movies, fuel, wallet reloads, insurance, education, government payments, and EMIs.
• Milestone benefit: The complimentary SonyLiv membership is extended annually upon reaching a minimum spend of ₹1.5 lakhs within the anniversary year. The voucher code will be dispatched to you within 60 days following the payment of the annual fee.

Movie and dining benefits

• Enjoy a 'Buy One Get One' offer on movie tickets through Paytm movies, granting up to a 100% discount on the second ticket (maximum benefit of ₹200 per month per customer). Simply use the coupon code "AXIS200" to redeem this offer.
• Receive Rs. 120 off on Swiggy orders totalling a minimum of ₹500, available twice a month. Gain a 15% discount, capped at ₹500, on orders of at least ₹1500 through the EazyDiner program, applicable twice per month.

Other key benefits and charges

• Receive up to ₹1000 off on AJIO purchases when spending a minimum of ₹2999. Simply utilise the coupon code ‘AJIOAXISMZ‘ to avail of this offer.
• Enjoy a waiver of the 1% fuel surcharge at all fuel stations nationwide for transactions ranging between ₹400 and 4,000 (with a maximum waiver capped at ₹400 per statement cycle).
• The credit card's interest rate stands at 3.6% per month (equivalent to an annual rate of 52.86%).
• For foreign currency transactions, there's a markup fee of 3.5% applied to the card.
• In case of cash advances made using your card, a fee of 2.5% of the transacted amount is levied, with a minimum charge of ₹500.

Travel benefits

With the MY Zone card, you receive one complimentary domestic airport lounge access per quarter. The available lounge options are limited and vary based on the card variant (Visa/Mastercard). Check the list of lounges for Visa and Mastercard, you can access with this card.

In conclusion, the Axis Bank My Zone Credit Card is an excellent choice for millennials new to credit or first-time cardholders, particularly those whose spending largely centres around movies and dining. This card extends discounts on Swiggy orders, offers dining benefits at select restaurants, provides a complimentary SonyLiv membership, and includes a valuable Buy One Get One offer on Paytm Movies.

What's noteworthy about this credit card is its secured variant, the 'Axis Bank My Zone Easy Credit Card.' Even without income proof or a credit history, you can obtain this card by placing a fixed deposit of ₹20,000 at your nearest Axis Bank branch. The card is issued against the deposited amount, offering a great entry point into credit.

Rohit Gyanchandani is Managing Director at Nandi Nivesh Private Limited