Axis Bank Reserve Credit Card
The Axis Bank Reserve Credit Card is a premium card made for people who want luxury benefits and travel perks. You earn 1.5% rewards on spending in India and double points on spending abroad. These rewards come as Axis Bank Edge Reward Points. Along with this, the card gives free access to airport lounges (both in India and internationally), memberships at top hotels like ITC, Accor, and Marriott, dining benefits through EazyDiner Prime, and concierge services to help with bookings and reservations.
Even though the card has seen some changes in its features over time, it’s still one of the best options for travelers. One big plus is that add-on cardholders and a few guests also get free lounge access, which most other premium cards don’t offer. One downside is that converting points to air miles isn’t very rewarding, but the overall reward rate is still very high. For example, if you spend ₹15,000 on regular things like shopping or travel, you can earn 1,125 points.
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.
Does the Axis Bank Reserve Credit Card charge for cash withdrawals?
No, you can withdraw cash for free—there are no cash advance charges.
Is this card good for international use?
Yes, it’s great for global use. You get 2X reward points and a low 1.5% foreign currency markup.
What are the entertainment benefits on BookMyShow?
You can get one free movie ticket (up to ₹500) and one non-movie ticket (up to ₹1,000), up to 5 times per month.
Can the ₹50,000 annual fee be waived?
Yes, if you spend ₹35 lakhs or more in a year, the renewal fee is waived.
What's the interest rate on this card?
The monthly interest rate is 3%, which equals about 42.58% annually.
How do I increase the card's credit limit?
Just call customer care. Make sure you’ve used the card responsibly and have a good credit score.
Is the Axis Reserve Credit Card made of metal?
Yes, it’s a premium metal card.
How do I use the free concierge service?
Call 1800 103 4962 to access the concierge support.
What restaurant discount do I get with EazyDiner?
You get 25% off up to ₹800 at selected restaurants through the free membership.
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