Airtel Axis Bank Credit Card: Convenience Fee Hiked to 1.75%
Airtel Axis Bank Credit Card users, please note a significant change in the convenience fee structure. The convenience fee has been increased from 1.24% to 1.75%, impacting your effective cashback returns.
This revision means that the effective cashback for transactions will now be less than the advertised 10%, potentially dropping to 8.25% or lower. For example, a monthly spend of ₹3000, initially yielding ₹3000 annual cashback, will see reduced net returns after accounting for the higher convenience fee (approx. ₹630) and the ₹590 annual fee. Your overall return could be as low as 4.94% to 6.28% depending on your spending pattern.
Stay informed about these changes to better manage your card benefits and expenses.