Are you looking to apply for a new credit card but can’t decide between the Cashback SBI Card and Axis Bank Ace Credit Card? Both cards have unique features and benefits that cater to different needs. In this article, we’ll compare and contrast the two cards to help you make an informed decision.
Cashback SBI Card Features and Benefits
The Cashback SBI Card offers cashback rewards on various categories such as grocery, departmental stores, dining, and movies. The card also provides an attractive welcome gift of Rs. 5000 upon spending Rs. 100,000 within the first 90 days of card issuance. Additionally, the cardholder can earn up to 5% cashback on utility bills payment and 1.25% cashback on all other retail purchases. The card also comes with a milestone benefit where the cardholder can earn an additional cashback of up to Rs. 4500 on achieving annual spends of Rs. 4 lakhs and Rs. 5 lakhs.
Pros and Cons of Cashback SBI Card
Pros:
- Attractive welcome gift and milestone benefits
- High cashback rewards on various categories
- Annual fee waiver on spending more than Rs. 1 lakh
- No restriction on cashback earning or redemption
Cons:
- High-interest rate
- Limited acceptance in some countries
- Cashback can take up to 90 days to reflect in the statement
Axis Bank Ace Credit Card Features and Benefits
The Axis Bank Ace Credit Card is a lifestyle credit card that offers rewards and discounts on entertainment, shopping, dining, and travel. The card comes with a welcome gift of Rs. 500 worth of Flipkart vouchers and 5000 EDGE Reward points. The cardholder can earn 2 EDGE Reward points on every Rs. 200 spent on the card, and these points can be redeemed for a variety of options such as flight tickets, hotel bookings, and merchandise. The card also provides complimentary lounge access and a fuel surcharge waiver at select petrol pumps.
Pros and Cons of Axis Bank Ace Credit Card
Pros:
- Wide range of rewards and discounts on various categories
- Welcome gift and EDGE reward points
- Complimentary lounge access and fuel surcharge waiver
- Low-interest rate
Cons:
- Annual fee of Rs. 499
- EDGE reward points can only be redeemed through the Axis Bank website
- Limited acceptance in some countries
Which One is Right for You?
When choosing between the Cashback SBI Card and Axis Bank Ace Credit Card, it’s essential to consider your spending habits and requirements. If you’re someone who spends a lot on groceries, departmental stores, dining, and movies, the Cashback SBI Card would be a better choice due to its high cashback rewards in these categories. Additionally, if you’re someone who can spend more than Rs. 1 lakh annually on the card, the annual fee waiver would be an added advantage.
On the other hand, if you’re a frequent traveler or someone who spends a lot on shopping, entertainment, and dining, the Axis Bank Ace Credit Card would be a better fit due to its EDGE reward points and wide range of discounts and offers in these categories. Additionally, the low-interest rate and complimentary lounge access, and fuel surcharge waiver would be an added advantage for frequent travelers.
How to Apply for Cashback SBI Card and Axis Bank Ace Credit Card?
To apply for the Cashback SBI Card or Axis Bank Ace Credit Card, you can either visit the respective bank’s website or use their credit card apply app. You
will include a few more details on the application process for both cards. To apply for the Cashback SBI Card, you’ll need to visit the SBI Card website or download their credit card apply app. You’ll need to fill in your personal and financial details, along with submitting KYC documents such as PAN card, Aadhaar card, and address proof. Once the application is submitted, SBI Card will verify your details and approve the application if you meet their eligibility criteria.
Similarly, to apply for the Axis Bank Ace Credit Card, you can visit the Axis Bank website or download their credit card apply app. You’ll need to provide your personal and financial details, along with submitting KYC documents. Axis Bank will review your application and approve it if you meet its eligibility criteria.
Conclusion
Both the Cashback SBI Card and Axis Bank Ace Credit Card offer unique features and benefits that cater to different needs. The Cashback SBI Card provides high cashback rewards on specific categories and attractive milestone benefits, while the Axis Bank Ace Credit Card offers a wide range of rewards and discounts on various categories, along with low-interest rates and complimentary lounge access, and fuel surcharge waiver.
Ultimately, your choice between the two cards will depend on your spending habits and requirements. Before making a decision, ensure that you compare and contrast the features and benefits of both cards to find the one that suits you the best. You can apply for either card by visiting the respective bank’s website or using their credit card apply app.
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