Every time we use credit cards as payment methods, we are highly concerned about security. Again, many of us think of the credit card’s annual fee as an “extra” expense. Axis bank Insta easy credit card serves both the two things. It consists of a platinum chip and comes with pin enabled feature- making the security factor move to the next level. And the credit card comes with the facility of zero annual fees. Yes! You heard it right! The annual fee is free up to a certain credit transaction limit. To know more, let’s have a detailed review of Axis bank Insta credit card.
In this point, we will discuss all the attractive features which make the card unique from other cards.
- Being equipped with a platinum chip and having pin enabled feature, it is the best-secured card.
- The annual charge is free.
- Facilities for applying for an emergency replacement card are also good. Just an FD account is required.
- 1% refuelling cost waives off on everywhere + 15% off on dining at selected partners.
- You can convert any purchases above Rs 2500 into an EMI scheme.
- Applying for the card is very simple – Just an FD account is required. And the documentation required is almost nothing, and everything is done on behalf of the Fixed deposit account.
- 6 and 12 reward points on the domestic transaction and international transactions, respectively.
- The free credit period (grace period) is higher than any other bank, and here the grace period is 50 days. Also, get 100 reward points on a transaction of Rs 100 for the first time.
- Facilities of withdrawing 100% of the credit limit even in one day is a unique feature.
Don’t expect cashback as the reward type. But you will get discounts and reward points which will reduce the transaction cost every time you pay. Note that the reward points and discounts are available on selected categories as usual. The Axis bank Insta credit card introduces the eDGE loyalty rewards program, which gives a good reward to its customers in a different way.
Let’s check it out.
One thing you might be thinking is why they are not giving the reward as cashback directly. Basically, banks give rewards to attract customers to use their credit cards, not for your convenience! They want to track every item you purchase. The whole system is like chain-everything is linked with one another. They give the rewards if you do any transaction via credit card. When you purchase or book something using your card to avail yourself of the reward they can track your purchase record. So, you cannot escape from income tax!
What are the reward points?
This is not a direct cash reward. Every time you use the card for a transaction, bonus points are added to your account. These bonus points are worth up to 2 cents each, and they can be redeemed during any transaction, booking – even in cash transactions.
Why Is This Credit card better than others?
Some other same-level credit cards like HSBC regalia credit card, SBI IRCTC credit card, and others. The basic system like service and reward points is almost the same for all of them, but none of them offers the best security provided by Axis Bank Insta easy credit card. Let’s differentiate them.
The above table confirms that the Axis insta easy credit card does a good job than others. So better to go for this if you can maintain all the terms and conditions of it.
Who Should Opt For The Credit Card?
There is no such rule or policy for choosing credit cards. It is totally up to you. Know your usage pattern – this means how frequent a customer you are. Make the comparison between your preferred one with the others [already available the comparison in point 3 ]. See where you can be benefited more. It also happens that – besides benefits, security factors may be a great concern for some users. They are not a frequent customer, but they deal with a bigger amount of money using a credit card. They look for the best security, and rewards do not matter at all to them.
Also, some users do not wish to pay the annual or renewal fee. Because they think that all the benefits they have got from the card are lost in paying the annual fee! Axis bank Insta credit card is for these two types of people. It emphasizes the security factor. It is pin-enabled, and there is a Platinum chip inside it. So, it is highly secured for transactions. On the other hand, the annual charges are free. But the credit card is issued against a fixed deposit account in Axis Bank. If you have no problem with that, you are good to go.
Features And Benefits
This should be the most important aspect of the topic. Check the benefits always before applying for any credit card. The key benefits are –
1. Withdraw up to 100% in one day
Many credit cards do not allow you to withdraw all of the credit card limits in one day. Here is the difference between Axis bank insta and other credit cards. Axis Bank insta credit card allows you to withdraw as much you wish up to 100% of the credit limit even from day one.
2. The credit limit is your choice
One of the main advantages of using Axis Bank insta credit card is you can enjoy a credit limit of your choice up to a maximum of 80% of the fixed deposit principal value.
3. Partial waive off on refuelling cost
Every time you refuel your engine, you can waive 1% of the refuelling cost. This offer is applicable for transactions between rupees 400 and rupees 4000. If you calculate 1% on the transaction, discounts will be rupees 4 and rupees 40. But the maximum offer is rupees 400 – means you can refuel 10 times in a month to get the offer.
No reward points can be awarded on behalf of refuelling costs.
4. Grace period is awesome
If you compare other bank credit cards, you can see that the grace period is less than or equal to 50 days. And here it is strictly 50 days. But in this grace period, you cannot enjoy free credit in cash transactions.
5. Restaurant dining special offers
Axis Bank introduces “dining delights,” which offer a minimum of 15% off the selected restaurant. You can check the list of restaurants by clicking here:
6. Assistance and support are top-notch
No one takes responsibility after selling the goods to you. But everything has an exception which is insta credit card here. Axis Bank insta easy credit card offers you the best service and assistance. For example, if you lost the card you can easily claim an emergency replacement card for emergency cash advances wherever you are. And of course, this service is not free!
7. Secured transaction
As I told you earlier, the card is equipped with a platinum chip that can easily detect fraud. And the more interesting thing is that this platinum chip cannot be duplicated- making it a secured transaction than any other card.
8. Convert purchase into EMI
You can convert any purchases over rupees 2500 into an EMI scheme. Remember this feature is also available in American Express smart earn credit card.
All credit cards apply charges for using that. But here, the charges are not too much. You can find the whole details in the table below:
Eligibility Criteria And Documents Required
The axis bank has put a minimum and simple eligibility criteria for availing the credit card. We should see both the criteria as well as the necessary documents required to do so.
i. You have to be an Indian.
ii. You have to open a Fixed deposit account in Axis bank. The minimum balance should be Rs 20000, and the maximum one is Rs 25,00,000. The card is issued against this FD account.
iii. The only document required for applying for the card is the FD account documentation. The simplicity of required documents and the process makes it a hassle-free experience for users.
iv. Any other documents required?
If all of the personal details (like the address) are the same at the time of applying for the card, no documents are required. The bank will not ask you to bring Income proof, identity proof, and so on.
How to Apply for a Credit Card?
The application is pretty simple. But before doing anything, make sure that you have an FD account in the axis bank. If not, create it first. Then follow the steps given below:
- Go to the official site https://clctab.axisbank.co.in. You will found that some questions are asking for details. Fill very carefully.
- On the second step, you have to fill in some other fields – mobile number, PAN number, pin code, Net annual income, and so on. Keep all the documents ready in your hand to avoid an error.
- Fill the forms very carefully. And also, read all the disclaimer terms and conditions before applying.
I am not describing all the points for applying for the card. It is a very simple process. Fill the form and go to the next step by clicking on “next.” Remember- forms will be rejected in case of any false information.
Frequently Asked Questions
1. What are the joining and annual fees?
The joining fee is Rs 500 only. It will be charged only once. And the annual or renewal fee is absolutely free.
2. What is the charge of an emergency replacement card?
If you report within 3 or 5 days from the day you lost, there is no charge. But in some cases, you have to pay Rs 100. The VISA global customer assistance services may decide the fees sometimes.
3. Where can I use the reward points?
Axis bank has made the partnership with many restaurants, almost every fuel station. As the charges are not much, many merchants like to use the card. You can use the reward points in online shopping, dining, etc. By the way, you will get 1% off on the cost of refuelling.
4. Can minors apply for this card?
Unfortunately, Axis bank has not kept any options for minors to apply for this card.
Similar Credit Cards
As I mentioned the differences of other cards in another point, there are many similar cards which offer the almost same value. Let’s have a look over the details.
Here is the time for the conclusion – should we go for this card or not? As I told you before if you are not a frequent customer, this card suits you perfectly. And we know that everything has some plus points, minus points also. Our goal is not to judge any card by seeing only the advantages or disadvantages. We should see the risk/return ratio. We should observe whether the proper balance of plus points and minus points are maintained or not. Every bank is trying to do its best to provide the best value. But comparing all the aspects, a general, mid-budget person can obviously go for this card. Moreover, he or she need not have to invest money anywhere. There is already an FD account in Axis Bank. Monthly income is the bonus advantage of using Axis Bank insta easy credit card!
I hope that you have learned some basic ideas. Happy credit!