Axis Bank Neo Credit Card Review and Application Details

The Axis Bank Neo Credit Card is a great option for those looking to build or rebuild their credit score. It's a secured credit card, which means you'll need to make a deposit to get approved.

The card is designed for individuals with no credit history or a poor credit score, and it offers a relatively high credit limit of up to ₹1 lakh. You can choose from a range of repayment tenures, from 6 to 36 months.

The interest rates on the Axis Bank Neo Credit Card are quite competitive, ranging from 13.99% to 19.99% per annum. This is lower than many other credit cards on the market.

For more insights, see: Credit Score for Us Bank Credit Card

The Axis Bank NEO Credit Card is an attractive option for those looking for a credit card with a range of discounts and offers.

You can get the card with a joining fee of ₹250, although some channels may offer it for free.

The card offers a 40% discount on Zomato food delivery, which is a significant perk for foodies.

You can also earn 1 EDGE reward point on every ₹200 spent.

The card is suitable for shopping and dining offers, making it a great choice for those who frequently dine out or shop online.

Here's a breakdown of the key features:

The card also offers a 5% discount on Amazon Bill Payment, which is a great perk for frequent online shoppers.

The Axis Bank Neo Credit Card is a great option for those who want to start their credit journey with an affordable card. You can earn 1 EDGE REWARD point on every Rs. 200 spent on this card.

With this credit card, you can save 10% on Grofers, Myntra, and movies. You can also save 40% on Zomato orders and receive a 15% discount at participating restaurants. Additionally, you can waive 1% gasoline levy at all Indian petrol stations.

Here are some of the key benefits and features of the Axis Bank Neo Credit Card:

You can also earn reward points and redeem them for over 500 different items.

The Axis Bank Neo Credit Card comes with a range of charges and fees that you should be aware of. The joining fee is Rs. 250, which is also the annual fee, although it's often waived for select channels.

You'll also pay an interest rate of 3.6% per month on retail purchases and cash, which translates to 52.86% per annum. The cash advance fee is 2.5% of the withdrawn amount, with a minimum of Rs. 500.

Here's a breakdown of the fees and charges associated with the Axis Bank Neo Credit Card:

The Axis Bank Neo Credit Card comes with a range of charges and fees that you should be aware of.

The joining fee for this card is Rs. 250, although it's often offered as a Lifetime Free card.

You'll also need to pay an annual fee of Rs. 250, although this can be waived for select channels.

The interest rate on this card is 49.36% p.a., which is quite high.

Late payment charges are applicable, but the exact amount is not specified.

Cash advance charges are 2.50% or a minimum of Rs. 500.

Here's a breakdown of the fees and charges associated with the Axis Bank Neo Credit Card:

The foreign currency markup fee on this card is 3.5% of the transaction amount.

The cash advance fee on this card is 2.5% of the withdrawn amount, subject to a minimum of ₹500.

The finance charges for retail purchases and cash are 3.6% per month (52.86% p.a.).

You'll also need to pay a cash payment fee of Rs. 100.

The overdue penalty or late payment fee can go up to Rs. 1,200, depending on the total due payment.

The overlimit penalty is 2.5% of the over the limit amount, with a minimum of Rs. 500.

The cheque return/dishonour fee or auto-debit reversal is 2% of the amount, with a minimum of Rs. 450 and a maximum of Rs. 1,500.

Worth a look: Citi Bank Credit Card Minimum Payment

One of the downsides of the Axis Bank Neo Credit Card is that you won't receive any insurance benefits with this card.

You can't use this card to access airport lounges in India, whether you're traveling domestically or internationally.

Here are some specific limitations to be aware of:

Earn 1 EDGE REWARD point every time you spend ₹200 with your Axis Bank Neo Credit Card. This can add up quickly, especially with regular purchases.

To put this into perspective, a ₹4,800 Zomato order would earn you 24 EDGE REWARD points, saving you ₹240.

You can redeem your EDGE REWARD points against a wide range of products and services, including vouchers, mobile & accessories, home decor items, and more.

A different take: Citi Bank Credit Card Reward Points Redeem

With the Assured Rewards program, you can earn EDGE REWARD points on every ₹200 spent on your card.

You earn 1 EDGE REWARD point for every ₹200 spent, making it easy to accumulate points over time.

For another approach, see: Pnc Bank Points Credit Card

Some transactions, like fuel purchases, EMI transactions, and wallet reloads, don't earn you any points.

However, you can redeem your earned EDGE REWARD points for a variety of exciting products, including vouchers, mobile accessories, and home decor items.

The redemption value of each EDGE REWARD point is ₹0.20, making it a great way to treat yourself to something new.

Here's a quick summary of the redemption options:

You can redeem your reward points at participating outlets and merchants by paying with your points, where ₹1 will be charged to your card and the rest debited from your points.

To redeem your points, you can log in to your credit card account through NetBanking or the 'open' mobile app. This allows you to shop from brands such as XIAOMI, KAMA Ayurveda, Pigeon, Dyson, Samsung, and more.

A rewards redemption fee is chargeable based on the number of reward points you plan to redeem. Here's a table that indicates the applicable reward redemption charges:

You can also redeem your points against hotel bookings, flight tickets, experiences, and e-vouchers.