Looking for premium credit card perks but lack the required income proof or CIBIL score? The Axis Privilege Easy Credit Card solves this by offering high-end rewards and lounge access against a simple Fixed Deposit.
Reward Mechanics & Main Benefits
- No Income Proof Required: Being an “Easy” variant, you get guaranteed approval against a Fixed Deposit of ₹20,000 or more.
- Welcome Benefit: Earn 12,500 EDGE Reward points (worth ₹2,500) upon completing 3 transactions within the first 60 days of card issuance.
- Base Reward Rate: Earn 10 EDGE Reward Points per ₹200 spent on general categories.
- Accelerated Rewards: Get 2X (20 EDGE points per ₹200) on domestic dining and retail shopping.
- Lounge Access: Enjoy 2 complimentary domestic airport lounge visits per quarter (up to 8 visits per year).
- Annual Fee Waiver: The ₹1,500 renewal fee is fully waived on annual spends of ₹2,50,000.
Hidden Traps & Gotchas
- Locked Funds: Your FD is locked as collateral. If you default on your credit card bill, the bank will liquidate the FD to recover the dues.
- Redemption Fees: A standard ₹99 + GST fee applies every time you redeem your accumulated EDGE points.
- Exclusions: Rent payments, wallet reloads, fuel, and government transactions do not earn reward points and may not count towards the annual fee waiver threshold.
- Markup Fee: A high forex markup of 3.5% + GST makes this unsuitable for international usage.
ROI Calculation
Let’s assume a realistic monthly spend of ₹25,000 (₹10,000 on retail/dining and ₹15,000 on general spends).
- Annual Spends: ₹3,00,000 (Easily qualifies for the ₹1,500 fee waiver)
- Base Rewards (₹15,000/mo): 750 points/month = 9,000 points/year
- Accelerated Rewards (₹10,000/mo): 1,000 points/month = 12,000 points/year
- Total Points: 21,000 points. At a redemption value of ₹0.20 per point = ₹4,200
- Welcome Benefit: 12,500 points = ₹2,500 (First year only)
- Lounge Value: Assuming 4 visits used out of 8 = ₹4,000
Net ROI (Year 1): ₹4,200 + ₹2,500 + ₹4,000 = ₹10,700 (This is effectively a 3.5% return on ₹3L spend, excluding the standard interest you earn on your FD).
Verdict
Get this if: You want a premium rewards and lounge access card but lack the credit history, or if you already have surplus cash to park in an FD.
Skip this if: You already have an excellent CIBIL score to get unsecured premium cards, or if your monthly spends are under ₹10,000.