The Axis Bank My Business Credit Card is specifically designed for small business owners and self-employed professionals who seek a convenient and efficient way to manage their business expenses. This card offers a range of benefits tailored to business needs, including rewards on everyday spending, expense management tools, and flexibility in payments. The Axis Bank My Business Credit Card is an excellent choice for those who want to streamline their financial operations while earning rewards on their business transactions.
Overview
| Feature | Details |
|---|---|
| Card Type | Business Credit Card |
| Reward Rate | 1 Reward Point per ₹100 spent |
| Reward Value | 1 Reward Point = ₹0.20 when redeemed |
| Joining Fee | ₹999 + GST |
| Unique Selling Points | Business-centric benefits, expense management tools, flexible repayment options |
| Rating | ★★★★☆ (4.2/5) |
Axis Bank My Business Credit Card Fees and Charges
| Fee Type | Details |
|---|---|
| Joining Fee | ₹999 + GST |
| Annual Fee | ₹499 + GST (waived on spending ₹2 lakh annually) |
| Finance Charges | 3.6% per month (43.2% per annum) |
| Foreign Transaction Fee | 3.5% + GST |
| Cash Advance Fee | 2.5% of the amount withdrawn (min ₹500) |
| Late Payment Fee | ₹300 to ₹1,000 depending on the outstanding balance |
| Fuel Surcharge Waiver | 1% on transactions between ₹400 and ₹4,000 |
Axis Bank My Business Credit Card Benefits
Rewards and Cashback
- 1 Reward Point per ₹100 Spent: Earn 1 Reward Point for every ₹100 spent on business-related expenses such as office supplies, travel, and more.
- Cashback Option: Convert your Reward Points into cashback, offering direct savings on your business expenditures.
Business-Focused Features
- Expense Management Tools: The card provides tools for detailed expense tracking and reporting, making it easier for businesses to manage and control their spending.
- Credit Period: Enjoy up to 50 days of interest-free credit on your purchases, helping you manage cash flow better.
Welcome Benefits
- Welcome Gift: Get 500 Reward Points as a welcome benefit upon activating the card and making your first transaction within 30 days.
Fuel Surcharge Waiver
- Fuel Benefits: Get a 1% waiver on fuel surcharge on transactions between ₹400 and ₹4,000, with a maximum waiver of ₹400 per month.
Security Features
- EMV Chip Security: The card comes with an EMV chip, providing enhanced security for your transactions.
- Instant Card Blocking: In case of loss or theft, you can block your card instantly through the Axis Bank mobile app or internet banking.
Rewards
| Spending Category | Reward Points Earned |
|---|---|
| Business Expenses | 1 Reward Point per ₹100 spent |
| Other Purchases | 1 Reward Point per ₹100 spent |
Redemption
- Cashback: Convert Reward Points into cashback, with 500 Reward Points equaling ₹100.
- Gift Vouchers and Merchandise: Redeem your Reward Points for a variety of gift vouchers and merchandise through the Axis Bank rewards catalog.
Axis Bank My Business Credit Card Usage
- Business and Personal Expenses: Use the Axis Bank My Business Credit Card for both business and personal expenses, maximizing rewards and benefits on all your spending.
- Bill Payments: Pay your utility bills, mobile recharges, and other regular expenses using the Axis Bank My Business Credit Card and earn Reward Points on every transaction.
Airport Lounge Access
The Axis Bank My Business Credit Card does not offer complimentary airport lounge access, focusing instead on providing rewards and cashback on business-related expenses.
Foreign Transaction Fee
| Feature | Details |
|---|---|
| Foreign Transaction Fee | 3.5% + GST |
Eligibility
- Age: 21 to 65 years.
- Income: Minimum annual income of ₹3 lakh.
- Business Status: Available to self-employed professionals and small business owners.
How to Apply?
Online Application
- Visit the Axis Bank website.
- Complete the application form with your business and personal details.
- Submit the required documents for verification.
- If eligible, you’ll receive approval, and the card will be delivered to your address.
Axis Bank My Business Credit Card Review
Editor’s Rating
- Benefits: 4.2/5
- Fees: 4.0/5
- Customer Service: 4.1/5
Summary
The Axis Bank My Business Credit Card is a versatile financial tool for small business owners and self-employed professionals who want to manage their business expenses effectively while earning rewards. With 1 Reward Point per ₹100 spent and the option to convert points into cashback, this card offers tangible savings on everyday business expenses. The card’s business-centric features, such as expense management tools and detailed statements, make it easier for businesses to track and control their spending. Although it lacks premium features like airport lounge access, the Axis Bank My Business Credit Card provides practical rewards and financial management tools, making it a valuable asset for any business owner.
Pros and Cons
| Pros | Cons |
|---|---|
| 1 Reward Point per ₹100 spent on business expenses | No airport lounge access or premium travel benefits |
| Cashback option for Reward Points | Foreign transaction fee of 3.5% + GST |
| Low joining and annual fees, with potential for waiver | Limited premium features compared to high-end business credit cards |
| Expense management tools and detailed statements | No insurance coverage or additional security features |
Similar Cards to Axis Bank My Business Credit Card
| Feature | Axis Bank My Business Credit Card | HDFC Business MoneyBack Credit Card | SBI Platinum Corporate Credit Card |
|---|---|---|---|
| Annual Fee | ₹999 + GST (waived on spending ₹2 lakh annually) | ₹500 + GST (waived on spending ₹50,000 annually) | ₹499 + GST (waived on spending ₹2 lakh annually) |
| Reward Rate | 1 Reward Point per ₹100 spent | 2 Reward Points per ₹150 spent | 2 Reward Points per ₹100 spent |
| Cashback Option | Yes, via Reward Points | Yes, via Reward Points | No |
| Eligibility | Available to self-employed professionals and business owners | Available to self-employed professionals and business owners | Available to self-employed professionals and corporate employees |
| Foreign Transaction Fee | 3.5% + GST | 3.5% + GST | 3.5% + GST |
HDFC Business MoneyBack Credit Card vs Axis Bank My Business Credit Card
The HDFC Business MoneyBack Credit Card offers 2 Reward Points per ₹150 spent and a cashback option similar to the Axis Bank My Business Credit Card. However, the Axis card provides a higher reward rate for general spending. Both cards are well-suited for small business owners looking for rewards and cashback on business expenses.
SBI Platinum Corporate Credit Card vs Axis Bank My Business Credit Card
The SBI Platinum Corporate Credit Card offers a higher reward rate with 2 Reward Points per ₹100 spent and additional benefits like complimentary lounge access. However, the Axis Bank My Business Credit Card’s low annual fee and cashback option make it more appealing to small business owners who prefer direct savings.
FAQ
What is the annual fee for the Axis Bank My Business Credit Card?
The annual fee is ₹999 + GST, which is waived if you spend ₹2 lakh annually.
How do I earn rewards with the Axis Bank My Business Credit Card?
You earn 1 Reward Point for every ₹100 spent on business-related expenses. These points can be converted into cashback or redeemed for gift vouchers and merchandise.
Does the Axis Bank My Business Credit Card support international transactions?
Yes, the card supports international transactions with a foreign transaction fee of 3.5% + GST.
How do I manage my Axis Bank My Business Credit Card account?
You can manage your card through the Axis Bank mobile app or internet banking, which offers real-time tracking, spending insights, and easy redemption of rewards.
Are there any hidden fees with the Axis Bank My Business Credit Card?
No, the Axis Bank My Business Credit Card has no hidden fees, and all charges are transparently communicated through the bank’s official channels. For more details you can visit official website.
