Axis Bank has launched the new Axis Bank SELECT Credit Card following its recent Vistara co-branded cards. It’s encouraging to see Axis refresh its credit card lineup after several years of limited new offerings. The SELECT card brings a more competitive option to the premium segment.
Axis Bank SELECT Credit Card Review – Free for Axis Burgundy customers
The Axis Bank SELECT Credit Card is offered as a Visa Signature variant. It appears to be issued free for Axis Burgundy customers (annual qualifying balance: 10 lakhs), though it may also be available to other customers with a joining fee—details on broader eligibility and fees are not fully confirmed.
Benefits of Axis Bank SELECT Credit Card:
Welcome Bonus: A Rs. 1,000 voucher for Jabong as a one-time welcome reward.
Lounge Access:
- 6 complimentary Priority Pass lounge visits per year.
Priority Pass access is valuable for international travel, while Visa Signature typically grants access to Visa airport lounges domestically. This combination makes the card appealing for frequent flyers who want both international and domestic lounge coverage.
eDGE Loyalty Reward Points:
Axis Bank’s eDGE rewards program has matured and now competes well with other premium reward programs.
- Earn 10 eDGE points for every Rs. 200 spent (approx. 1% value).
- Earn 20 eDGE points for every Rs. 200 spent on retail shopping (approx. 2% value).
- Estimated value: 1 reward point ≈ Rs. 0.20.
Insurance Coverage:
- Air accident cover up to Rs. 2,50,00,000.
- Purchase protection cover up to Rs. 1,00,000.
- Lost card liability cover up to Rs. 3,00,000.
- Loss of travel documents cover up to 300 USD.
- Delay of check-in baggage cover up to 300 USD.
- Loss of check-in baggage cover up to 500 USD.
While insurance benefits are rarely the sole deciding factor, these limits are competitive and add meaningful protection for cardholders. The exact terms of purchase protection should be reviewed in the card’s policy document for precise coverage and exclusions.
Axis Bank SELECT Credit Card Features:
- Card Expert Rating: 4.5/5
- Reward Rate: 1% – 2% depending on category.
- Joining Fee: Complimentary for Axis Burgundy customers; fee for others may apply.
- Fuel Surcharge Waiver: 2.5% fuel surcharge waived on fuel transactions up to Rs. 4,000 per transaction at fuel stations.
- Complimentary Airport Lounge Access: 2 visits per quarter via Visa lounges and 6 visits per year via Priority Pass.
- Foreign Exchange Markup Fee: 3.5% plus applicable service tax.
- Other Benefits: 3 complimentary golf rounds per year, plus an additional golf round for every Rs. 1 lakh spent in the card anniversary year; Taj Epicure membership; enhanced insurance protections.
Overall, the Axis Bank SELECT Credit Card stands as a solid competitor to long-established premium cards such as the HDFC Regalia. It offers a compelling mix of lounge access, rewards, and travel-related insurance. One downside is the relatively high foreign exchange markup fee compared with some other products in the market.
Axis’s Burgundy debit card previously offered a very low forex markup that has since aligned with standard rates, but the SELECT credit card helps signal stronger competition in the premium credit card space.
Credit and debit card offerings in India are becoming more competitive, with issuers improving benefits and reward structures.
What are your thoughts on the new Axis Bank SELECT Credit Card? Share your views where comments are available.