Axis Bank Olympus Credit Card
The Axis Bank Olympus Credit Card is a new premium card made for people who love travel and luxury. You get 1 EDGE Mile for every ₹100 you spend in India and 2 EDGE Miles for every ₹100 you spend abroad. At first, that might not sound like much, but it gets better—each EDGE Mile is worth 4 points when you use them with Axis Bank’s travel partners. So basically, you get 4% back on domestic spends and 8% on international spends. Even after adding the 1.8% + GST foreign transaction fee, you still get about 5.8% value when you spend internationally, which is pretty good. You can also use Travel EDGE to easily book flights and hotels, and transfer up to 7.5 lakh EDGE Miles a year to travel partners.
Apart from the rewards, the card comes with great travel perks. You get unlimited free access to airport lounges in India and abroad, free airport transfers, and concierge help when you need it. If you play golf, you also get 8 free sessions a year, and you can unlock more if you spend ₹50,000 or more in a billing cycle. This Axis Bank Olympus Credit Card was mainly launched for people who had the Citi Prestige card, so it comes with similar features. The annual fee is ₹20,000, and the card is packed with lifestyle and travel benefits, making it a strong option if you’re looking for a high-end credit card.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
How much is the annual fee for the Axis Olympus Credit Card?
The card has a yearly fee of ₹20,000 plus GST, which comes to a total of ₹23,600.
How can I use the EDGE Miles earned on this card?
You can redeem your EDGE Miles by transferring them to airline and hotel partners through the Travel EDGE platform.
Is the Taj Epicure membership limited to just the first year?
No, the Taj Epicure membership gets renewed every year on your card anniversary.
Does the card offer access to airport lounges?
Yes, the Axis Olympus Credit Card gives unlimited access to both domestic and international airport lounges.
What kind of rewards can I expect on spending?
You earn 1 EDGE Mile for every ₹100 spent in India and 2 EDGE Miles for every ₹100 spent abroad. These can be converted for high-value travel rewards.
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