Our Verdict
Axis Bank MY ZONE credit card is a point-based entry level credit card with basic features. There are no welcome benefits as such and there’s not much to offer as additional features. It is not very expensive and the upper limit on age is higher than the other credit cards, which is 70.
Axis Bank MY ZONE Credit Card
Joining Fee
INR 500 + 18% GST
Annual Fee
No fee for the first year; second year onwards INR 500
Joining Fee
INR 500 + 18% GST
Annual Fee
No fee for the first year; second year onwards INR 500
- Upper limit of age is 70 years.
- No welcome benefits
- Foreign currency markup is 3.5, which is on a higher side.
- No set interest rate on converting purchase to EMIs.
Reward Points:
4 EDGE REWARD points on spending is INR 200.
These reward points are not granted on EMI transactions, fuel and movie tickets.
Redeeming Rewards Points
EDGE reward points can be redeemed by buying merchandise from Myntra, Flipkart, and EDGE website. These points can also be used for booking hotels etc.
Additional Features of MY ZONE Credit Card
Fuel Surcharge waiver: A surcharge waiver of 1% on fuel purchase between a minimum cap of INR 400 and maximum of INR 4,000, upto a maximum rebate of INR 400 only.
Purchase to EMIs: Spends of more than INR 2,500 can be converted to easy monthly installments at a nominal 1.0% or 1.08% or 1.25% or 1.5% or 2% at monthly reducing balance. Interest charged on these EMIs will be decided by the bank as there is no standard interest on this.
Dining Delight: Up to 20% discount in partner restaurants in India.
Mastercard: Card holders are eligible to get the perks offered by Mastercard.
Paytm Movies: Buy one get one free movie tickets with the maximum discount per month limited to INR 200.
Swiggy: 40% off upto INR 120 (the order should not cost less than 200).
SonyLive premium annual subscription: SonyLive premium annual subscription worth INR 999 for free if the card holder makes the first transaction within 30 days of issuance of the card.
This offer is valid for the first year. For the consecutive year renewal, one will have to spend INR 1.5 lakh from MY ZONE credit card in an anniversary year to get this facility.
AJIO: INR 600 off at Ajio on minimum spends of INR 2,000.
Eligibility
- Minimum age: 18 years
- Maximum age: 70 years
- Nationality: Resident of India or non-resident Indian, both can apply.
Documents
Latest payslip, Form 16, IT return copy as income proof; any one of the following as residence proof:
- Passport
- Ration Card
- Electricity bill
- Landline telephone bill
- Identity proof (any one of the following):
- Passport
- Driving license
- PAN card
- Aadhaar card
Methodology
We have rated the Axis Bank MY ZONE credit card on the basis of five factors:
- Ease of Use: Where the system of cashback or reward points is clear to understand and it is easy to use those reward points. We have also taken into consideration caps on getting these reward points.
- Extra Facilities: These include extra benefits provided by a card other than the usual payment making, like airport lounge, welcome benefits, insurance covers, etc.
- Cost of the Card: The annual fee, add-on charges, hidden charges and rebates all make up for this.
- Availability: Is the card accessible to all and if the eligibility criteria is not very difficult to achieve.
- Acceptance: Universal acceptance of the card is a must and is another important factor with the credibility of the issuer.