Friday, July 19, 2024
HomeBusinessTop 5 Things You Should Know Before Applying for an Axis Bank...

Top 5 Things You Should Know Before Applying for an Axis Bank Credit Card

One of the largest private sector banks, Axis Bank, offers a wide range of financial products and services to individual customers. Among the gamut of financial products offered are credit cards.

In addition to allowing you to purchase all your favourite goods and services, Axis Bank credit cards also provide exciting rewards, discounts, and offers. Another significant advantage is that the benefits and features that you get to enjoy tend to vary depending on the card that you opt for.

That said, before you proceed to apply online for Axis Bank credit card, there are a few key things that you should first know. Continue reading to find out what they are. 

Axis Bank offers as many as 30 different credit cards, each with its own set of features and benefits. The credit cards offered by the bank are usually categorised according to the kind of rewards they provide.

For instance, you have travel cards, fuel cards, shopping cards, cashback cards, business credit cards, and a whole lot more. So, take a moment to check out the list of cards Axis Bank provides. This way, you will be able to better determine the card that’s more suitable for your kind of lifestyle. 

  • The features and benefits offered by the card 

As you may already know, the features and benefits tend to vary depending on your chosen credit card. For instance, some cards come with welcome bonuses, while others accumulate reward points on each purchase that you make. These reward points can be redeemed at a later point in time for exciting vouchers and discount coupons.

In fact, there are even credit cards that provide a percentage of your purchase value as cashback. Therefore, it is a good idea to first ensure that the features and benefits of a credit card match your needs and requirements before applying. This way, you will be able to enjoy all the rewards and benefits that the card has to offer. 

  • The fees and charges associated with the card 

This is one of the most important things that you should get to know before applying online for an Axis Bank credit card. Credit cards come with a host of different fees and charges, such as annual fees, late payment fees, and Annual Percentage Rate (APR), among others.

Some of these charges, like the Annual Percentage Rate (APR), which is essentially the interest rate, can be exorbitant. And so, it is essential to first read through the schedule of charges applicable for the credit card you’re looking to apply for. This way, you will be able to make a more informed decision. 

  • How interest-free period works on credit cards 

Every credit card, including Axis Bank credit cards, come with an interest-free period. You will not be charged any interest on your purchases during this period. The interest-free period begins on the first day of your credit card billing cycle and can range anywhere from 45 to 55 days.

This interest-free period will remain active as long as you continue to pay your credit card dues in full on or before the due date. You will lose the interest-free period if you fail to pay your dues before the stipulated due date or pay only the minimum amount due. And any purchases that you make after that will start to accrue interest right from the date of transaction till the date of payment.

Losing the interest-free period can be very detrimental since it can put you under significant financial stress. It can even lead you into a debt trap. So, if you’re planning to get an Axis credit card, remember to always make your Axis credit card online payments on time. 

  • The impact of credit cards on your credit score

Many individuals are unaware of the impact that credit cards have on their credit score. Credit cards can boost your credit score and build your credit history if you pay off all your dues before the due date regularly.

That said, failing to do so can have the opposite effect. Your credit score takes a huge hit even if you don’t clear off your dues in full. Also, it is recorded in your credit history and can make getting loans or other credit facilities a lot more difficult.

That’s not all. Over utilising your credit card till you reach your credit limit can also be detrimental to your score.

Read –


Now that you’re aware of these things go ahead and apply online for an Axis Bank credit card. And when you manage to get one for yourself, remember to use it responsibly. Always ensure that you make your Axis credit card online payments on time before the stipulated due date. This way, you can continue enjoying the card’s benefits and boost your credit score.



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments