Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
The Axis Bank FreeCharge Credit Card is a virtual credit card which gives you all the benefits of owning a card without the hassle of having to find space in your wallet to fit it in. This invite-only card can be yours at an annual fee of Rs.250 (excluding applicable taxes).
With this card, you get:
Charge a particular amount to your Axis Bank FreeCharge Credit Card each month and earn eDGE Rewards Points for milestone spends.
Here's how many points you can earn on your monthly spends:
| Monthly Spends | eDGE Rewards Points Earned |
|---|---|
| Rs.0 to Rs.1,999 | 0 |
| Rs.2,000 to Rs.4,999 | 100 |
| Rs.5,000 and more | 350 (100 + 250) |
You can check out all the details with respect to your credit card on the Axis Bank mobile application as well. When you select the 'View Card Details' section, you can check out the card's functionality.
The limit on your credit card will be intimated to you by the bank once your application has been approved or once you receive your credit card. It is important to remember that when it comes to the credit limit provided, the bank will look into a number of factors. As such, two people who have the same credit card may have different credit limits.
In general, the factors that determine the amount of credit that is extended to you include your credit repayment history, the number of credit cards you currently own, your current debt obligations, your employment status, your income, and your credit score.
As mentioned earlier, you earn 1eDGE Rewards Point on all eligible transactions made with your Axis Bank FreeCharge Credit Card.
Moreover, you also earn milestone rewards when you spend a certain amount each month.
| Monthly Spends | eDGE Rewards Points Earned |
|---|---|
| Monthly Spends | eDGE Rewards Points Earned |
| Rs.0 to Rs.1,999 | 0 |
| Rs.2,000 to Rs.4,999 | 100 |
| Rs.5,000 and more | 350 (100 + 250) |
You can redeem the eDGE Rewards Points that you earn on Axis Bank's website.
You can redeem the points you have earned on the bank's Rewards Store or at any of their partner brand outlets.
There are 4 ways by which you can redeem your points:
Via Internet Banking
Via the Axis Bank Mobile Application
Via the Axis eDGE Rewards Website
To use this method of redemption, you have to first sign-up for the programme by visiting the registration page on the bank's website.
Once you have registered successfully, you will receive an email confirming your user ID and password.
After registration, follow these steps:
If you have been auto-registered for the programme, you will receive an email from the bank stating the same.
Via the Contact Centre
You can call the contact centre and redeem your points by calling:
| Particulars | Amount |
|---|---|
| Joining fee/issuance fee | Rs.250 + taxes |
| Annual fee | Rs.250 + taxes |
| Interest rate | 3.4% per month |
| EMI interest rate | 1.5% per month |
| EMI processing fee | 1.5% of the amount |
| Minimum payment amount | 5% of the outstanding balance |
| Late payment fee |
- Up to Rs.100: Nil - Rs.101 to Rs.300: Rs.100 - Rs.301 to Rs.1,000: Rs.300 - Rs.1,001 to Rs.5,000: Rs.500 - Rs.5,001 to Rs.10,000: Rs.600 - Rs.10,001 and more: Rs.700 |
| Over limit fee | Rs.3% of the amount over the limit, subject to a minimum of Rs.500 |
| Cash advance fee | 2.5% of the amount withdrawn subject to a minimum of Rs.250 |
| Issuance of physical card (subject to terms and conditions being met) | Rs.250 + taxes |
The documents you may be required to submit will be mentioned to you by the bank. In general, the documents you may have to submit are:
As mentioned earlier, this credit card is an invite-only card. If you are one of the few customers who can see the banner invite on your free-charge app, all you have to do is click the image and follow the instructions provided.
No. You can use this card only on websites which offer FreeCharge as a payment option.
Your eDGE points are valid for three years from the date in which they are earned. So, if you earn points on 25 July 2023, they will expire on 25 July 2025.
eDGE points earned will expire if there is no activity in your account for over 365 days. This means that if you haven't made any transactions which have earned points, redeemed your points, or haven't logged into your account for 365 days, any accumulated points will expire on the 366th day.
No. The product for which you have redeemed your points will be delivered to your registered address. If you wish for it to be delivered to a different address, make sure you contact the bank, get your details changed, and then proceed with redeeming your points.
Yes, you can get a physical card. However, you will have to first meet the terms and conditions set out for physical issuance of the card. Additionally, you will have to make a payment of Rs.250 (excluding taxes) to get a physical card.
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