What are the benefits of Axis bank credit card ?

Axis Bank offers a wide range of credit card options. Having a credit card is so convenient. Making payments and purchases becomes much easier and faster when you pay with your card. This saves you the burden of carrying huge amounts of cash with you when you shop or travel. The different types of credit cards offered by Axis Bank are specially cut out to meet the needs of you, the customer. Depending on your reasons for applying for a card, your affordability and other details, you can choose a card that would best meet your needs.

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When you apply for a credit card from Axis Bank, you get to make use of a whole lot of benefits such as payback points, rewards, cash benefits and other exclusive features. Among the large number of options available to you when you choose to apply for a credit card, the benefits you receive from an Axis Bank Card stand out from the rest. Here are some of the main benefits of Axis Bank Credit card:

1. Get cash back and discounts on ticket bookings: when you use your Axis Bank credit card to book flight tickets, bus or train tickets online; you receive a part of the base fair as a ‘cash back’ reward or you receive a discount on your booking amount. The amount or the percentage of cash you receive in return will depend on the type of Axis Bank credit card which you choose. There are platinum cards, My cards, Co-branded and other credit cards.
2. High level of security. One of the main concerns of the modern methods of banking is security and this is something Axis pays close attention to. Your Credit cards from Axis Bank will be pin and chip protected. This gives you additional protection against card frauds.
3. Enjoy discounts while dining. Axis Bank offer their credit card holders special discounts at a wide range of restaurants. Depending on the type of credit card you choose, you will be eligible for up to 33% discount on dining.
4. When you have an Axis bank credit card, you can easily convert large purchases to EMI. If a cash transaction costs more INR 2500 you can convert it into an Equated Monthly Installment by simply contacting the bank regarding the same.
5. With your Axis Bank Credit card, you will also receive exclusive access to VIP lounges in domestic and international terminals in major cities across India and the world.
6. One of the benefits of the Axis Bank’s credit cards is the ‘eDGE loyalty rewards program’ where in, you collect points in your rewards account every time you use your card to make a payment or purchase. The points you collect in your eDGE loyalty account can be redeemed to receive over 500 reward items. For ever INR 200 spent, you gather between 2 to 12 reward points, according to the type of credit card you choose. The number of points you earn are different all the types of credit cards offered by Axis.

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How Do Credit Cards Work India

Credit cards have come a long way from being a service reserved for the exclusive few to a commonly used financial instrument. Gone are the days when people used cash for purchases at stores, restaurants and other shopping activity. A large chunk of both brick and mortar store shopping as well as online purchase activity is conducted across the globe using credit cards.

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Credit card companies have refined the service offering specialized cards like travel centric cards, co-branded retail credit cards along with premium credit cards catering to the needs of wide sections of the society. Using a credit card while shopping is an easy breeze and card holders simply need to swap their credit card with the credit card swapping machine available with the retail merchant.

Have you ever wondered how the credit card works and delivers the financial transactions to the merchant? Read on to know the basic functionality of credit cards and their working operations.

Win-win situation for both merchants and customers:

Credit cards are a great financial tool gaining popularity across the globe because of their intrinsic beneficial nature. Credit cards offer a win-win situation for both the retail merchant and the credit card holder. For the credit card holder, firstly it cuts out the requirement of carrying cash while out shopping. Secondly, it offers the card holder the huge advantage of buying now and paying later making it possible for users to manage their spending wisely. For the merchant offering credit card services, it means an increase in the quantum of business as more and more credit card holders would be eager to shop at stores accepting credit card services.

Understanding credit card transactions:

The working mechanism of a credit card is divided into two distinct steps. The first step involves the verification of the credit card done at the merchant store while swapping the card. The second step relates to the final financial transaction between the card service provider, the retail merchant and the card holder. In the first step of credit card verification, a retailer swaps the users credit card on a dedicated machine connected to the computer. The electronic chip in the credit card displays all the credit related information of the card. The software tells the merchant if the card is available for purchase or is blocked. Once the card is approved for financial transaction, the merchant can swap the card at the credit card terminal to facilitate payments. Once the credit card is swapped, a paper receipt gets generated. The receipt must be signed by the card holder as an agreement to pay the credit card company.

Payment of credit card dues:

As a basic nature of credit card transaction, the credit card company pays the merchant instantly while the card holder pays the card holder over a period of time. If the card holder pays the bank or service provider within the credit free period, no extra interest is charged. In case the user repays after the expiry of the interest free grace period, a compounded daily interest is charged for pending amounts.

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Ways to Avoid Credit Card Fraud

While credit cards are a dream come true for many people, falling prey to a credit card fraud can be a serious issue. The banks will always alert you about the different types of frauds that might happen on the card. It is always better to know the different tips on how to avoid card fraud. 

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Some tips are :

• Security software: If you generally access your credit cards online, it is imperative to install security software on your computer. Whenever you visit any site, there might be a malicious website, which might just try to open. However, when you have security software, the site will be blocked by a firewall. This malicious site might just capture your credit card login details, which can be used for any fraudulent transaction.

• Notification to the card issuer: You should always update your latest information with the card issuer. The credit card issuer should have your residential and billing address and phone number. With the introduction of e-bills, it is very important to update your latest email address with the card issuer. If the wrong address is given, your credit card details might just fall into the wrong hands.

• Password and pin protection: With RBI’s regulation for the requirement of pin for all swipe transactions, fraudulent transactions on credit cards at the merchant’s place have dropped. However, you will still need to ensure that your passwords and pin numbers are strong enough. While it might be difficult to remember all of them, it is necessary for you to keep on changing them once every month. Always make long passwords with more than 8 characters. The longer the password, the more secure your credit card will be against fraud.

• Travel decisions: Always inform your bank about your travel plans. In case you are travelling to a foreign country, do let them know. This will ensure that you’re the credit card issuer knows about your whereabouts. Apart from this, they will not block any transaction on the card in case it is a huge amount. Banks block or confirm different foreign currency transactions to safeguard their customers from fraud.

• Receipts of your credit cards: There are many people who throw away their credit card receipts. However, you should store them with you so that you can verify it against your billing statement. If you see any unfamiliar transaction on the statement, you should contact your card issuer immediately to get it checked.

• Avoid phishing mails: No card issuer or bank will send emails to you asking for the credit card details. Hence, if you receive any such mail then delete it at once. These are phishing mails that scammers generally send to get the login details for your credit cards. Never click on any link that you do not recognize. Also, never sign in to any account that was sent to you through a link on email especially by an unknown source. If the link has come from someone you know then cross check with them before proceeding.

All the above tips can surely help you avoid credit cards fraud at all times. However, one of the best tips is to keep your eyes and ears open. Being cautious while handling your card is the best way to avoid any financial fraud.

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Benefits of Using Axis Bank Credit Card

Credit cards, in the recent years, have brought a revolutionary change in the face of business. With the entry of these cards, consumers’ spending habits have drastically changed, giving them an easy access to money. Credit cards have become a very useful tool for building credit for various purposes, when used responsibly. Banks are using lucrative offers to attract the customers to tap the growth opportunities in this sector.

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 Axis Bank Credit Cards

Axis bank, which is India’s third largest private bank, offers a range of financial services for all the segments, age and income profiles. Axis Bank Credit Card is one card that suits all your needs and comfort and offers exciting benefits and rewards for its loyal customers. The various benefits of axis bank credit cards are:

• Global Acceptance: Axis bank credit cards are globally accepted at over 23 million merchant establishments world-wide which helps the customers to buy in any currency across the world and pay later in rupees.
• Mobile Alerts: Customers using the axis bank credit card have the option to subscribe to enhanced mobile alerts and receive regular updates of their card account.
• PlusPoints Rewards: PlusPoints are a great way to earn rewards on every transaction you make using axis bank credit card. These points, when accumulated can be redeemed for various offers launched by the bank. Usually, one earns 2 points for Rs 100 spent on international transactions and 1 point for Rs.100 spent on domestic transactions.
• Exclusive Benefits: Each credit card is linked with their exclusive benefits to make it more lucrative for that segment of people. For e.g., fuel surcharge refund of 2.5%, complimentary movie tickets, discount on shopping, travel, etc.
• Revolve Facility: Axis Bank also offers extended credit facility to its premium customers owning their Signature Credit Card. This facility gives the customers an option to buy any product and pay in easy installments to the bank.
• Interest Free Period: Axis bank credit card holders are also entitled to up to 50 days free credit period on their purchases without any finance charge being levied to their card account.
• Auto Debit Facility: This facility gives the customers an added convenience of paying their monthly card bills directly through the Axis bank account.
• Balance Transfer: Balance transfer facility helps you transfer any balance from other cards to Axis bank credit card at a special rate.
• EMI Facility: By using an axis bank credit card, customers’ have the convenience of paying for high value transactions in easy EMIs.
• Cash Advance Facility: Axis bank gives privileges to its premium customers to withdraw cash (30% of the credit limit) from any ATM around the world.
• eShop Card: This card is an additional virtual card given to the card holders for secured online shopping as in this scenario, they will not be required to give their credit card details.

As an Axis bank credit card holder, one not only benefits from the credit facility, but also enjoys the best of all worlds as it offers exciting deals and schemes on all the categories making the experience more valuable. Additionally, this bank has also tie-ups and participates with various outlets to grab the best deals for their customers.

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