Please Note: Axis Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.
|Axis Bank Neo Credit Card Rating|
|Reward Points ★|
Offers & Discounts ★★★
Annual Fee ★★★
Other Benefits ★★
|Overall Rating ★★★|
Axis Bank NEO Credit Card is designed for online shoppers and frequent movie watchers. From discounts on movie tickets and online shopping to special vouchers, Axis NEO covers an array of benefits for its users. Let’s understand if this card is suitable for you, or not, with a detailed review.
Key Highlights of Axis NEO Credit Card
Exclusive Welcome Benefits with Axis Bank Neo Card
The welcome benefits with Axis Neo are quite impressive. The card gives vouchers for online shopping and movies too.
- Amazon Gift Voucher: On your first transaction, get a gift voucher worth Rs.250 from Amazon within the first 30 days.
- BookMyShow offer: Movie lovers can make use of this welcome gift from BookMyShow worth Rs.300. A unique voucher code will be sent separately via email/SMS. The voucher can be redeemed on the BookMyShow website or the mobile application.
Special Discounts with Axis Bank Neo Credit Card
Axis Bank NEO Credit Card covers a number of popular brands, across categories, to provide its users with a 10% discount on every transaction. categories such as online shopping, movie ticket booking, dining, online groceries, and more are included under this program. Here are the participating deals of this scheme-
|Myntra||Get 10% off every time on shopping with Myntra||A minimum value of Rs.500 required|
|BookMyShow||10% off on every purchase of a movie ticket on BookMyShow||Maximum monthly benefits up to Rs.100|
|Grofers||10% off on Grofers on Groceries||Discount up to Rs.250, on min. transaction of Rs.750.|
Applicable once per month per card
|Zomato||40% off on Zomato on food delivery||Discount up to Rs.120, on min. transaction of Rs.200.|
Applicable 2 times per month per card
|Paytm||5% Off on Paytm on Utility Bill Payments||Discount up to Rs.150, includes Mobile Recharges/DTH/Electricity Bill|
Applicable once per month per card
This is indeed a good attempt to capture the customer segment that shops online frequently. In fact, very few credit cards offer such a discount deal. However, if you do not preferably use the above-mentioned brands, then this feature may not be very beneficial for you.
Other benefits you can enjoy
- Dining Discounts: You can enjoy dining discounts of 15% applicable to partnered restaurants.
- Joining Fee Waiver: Joining fee of Rs. 250 is waived upon spends of Rs. 2500 in 45 days of card issuance.
Axis Neo Reward Points
As far as the reward points are concerned, you will earn 1 EDGE rewards point on every Rs.200 spent. These rewards can be used or redeemed from Axis Bank’s rewards catalogue.
Want to Understand how reward points work? Click here.
How much will Axis Neo Credit Card cost you?
The card comes with joining and an annual fee of Rs.250 each. However, the joining fee is waived off on spending Rs.2,500 in the first 45 days of the card issuance. In case you are unable to reach the spending milestone of Rs.2,500, your joining fee would still be compensated with the welcome gift Amazon voucher of Rs.250, received after 1st transaction within 30 days of the card issuance. Keeping the benefits in mind, the annual fee is justifiable for Axis Neo.
Should you get this credit card?
If you often shop online from Amazon, Myntra, Zomato, or any other merchant mentioned above, Axis NEO Credit Card can be a viable option for you. Cardholders are entitled to a 10% discount on specific merchants including Myntra, Zomato, BookMyShow movie tickets, and utility payments via Paytm under the card’s “power of 10” programme. Aside from the vouchers and discounts, the card has a below-average rewards structure i.e. 1 EDGE point per Rs. 200 spent in all categories. This is why it may not be suitable for high spenders.
Multiple beginner level cards have impressive reward points along with the benefits across similar categories. You can perhaps consider ICICI Amazon Pay, RBL Monthly Treats or even American Express SmartEarn credit cards as an alternative to Axis Neo.
You can apply for Axis Neo credit cards if your answer to the questions below is YES.
- You don’t have a credit card but want to apply for one
- You want a card with maximum benefits on online shopping and purchases via Myntra, Amazon, Zomato, Paytm, and Grofers
- A low rewards rate does not bother you
- You don’t wish to spend a lot on the annual fee
Alternate credit cards you can apply for
Axis Neo is a beginner level credit card. Perhaps even better for those who are looking for their very first credit card. If you feel this card won’t meet your requirements, we have compiled a list of cards with the same or better benefits.
|Card||Annual Fee||Reward Points||Key Benefit|
|Rs.500 + applicable taxes||Get 500 reward points on paying the renewal fee.||Get a gift voucher worth Rs.1000 on spending Rs.90,000 in a year|
|Rs.499 + applicable taxes||10x reward points on dining and movies.||2000 bonus reward points on spending Rs.2000 or more within the first 60 days of card issuance|
|Rs.750 + applicable taxes||1.5% cashback on all online spending (excluding transfer to online wallets)||No joining fee with this credit card|
Some Drawbacks of Axis Neo Credit Card
Like everything has its pros and cons, we noticed some shortcomings with Axis Neo too:
- The reward rate is low. There are multiple beginner level cards that have impressive reward points along with the same benefits. So, this can turn out a disappointment for people who want to earn reward points.
- There is no annual fee reversal on Axis Neo. While the fee reversal is only applicable to the joining fee, there are many cards that come with an annual fee reversal.
- Surprisingly, this card doesn’t even come with a fuel surcharge waiver.
Axis Bank Neo credit card is ideal as your first credit card. The card offers some great value for money welcome benefits and cashback, however, because of some of the above-mentioned drawbacks, this might not be suited for everyone.
The reward rate should improve since there are many entry-level credit cards that come with a great reward point system. You can perhaps consider ICICI Amazon Pay, RBL Monthly Treats or even American Express SmartEarn credit cards in alternate to Axis Neo. Our final call would be you can give Axis Neo credit card a go-ahead only if your interest lies in the cashback offers. Other than cashback, sadly, the card doesn’t have much to offer.