Choosing the right credit card can significantly impact your finances, especially when it comes to earning cashback on everyday purchases. Among the myriad of options available, the Axis Bank Cashback Credit Card and the HDFC Millennia Credit Card stand out as popular choices for individuals seeking to maximize their returns on regular spending. Both cards offer attractive benefits, but understanding their differences is crucial to selecting the one that aligns best with your spending habits and financial goals.
This comprehensive comparison delves into the features, benefits, and drawbacks of each card, providing you with the insights needed to make an informed decision. Whether you’re an avid online shopper, a frequent diner, or someone looking to optimize your credit card rewards, this guide will help you navigate the nuances of these two offerings. By the end of this article, you’ll have a clear understanding of which card suits your lifestyle and spending patterns, ensuring you make the most out of your credit card experience.
🆚 Axis Bank Cashback Credit Card vs HDFC Millennia Credit Card
💳 Annual Fee & Welcome Benefits
Axis Bank Cashback Credit Card:
- Annual Fee: ₹1,180 (inclusive of GST)
- Joining Benefit: 5,000 EDGE Reward Points worth ₹1,000 upon first transaction
- Annual Fee Waiver: Waived if annual spends exceed ₹4 lakh
HDFC Millennia Credit Card:
- Annual Fee: ₹1,180 (inclusive of GST)
- Joining Benefit: 1,000 CashPoints
- Annual Fee Waiver: Waived if annual spends exceed ₹1 lakh
- Milestone Benefit: ₹1,000 gift voucher for every ₹1 lakh spent per quarter
Note: The Axis Bank Cashback Credit Card offers a higher threshold for annual fee waiver compared to the HDFC Millennia Credit Card. However, HDFC provides additional milestone benefits, rewarding consistent spending.
💰 Cashback Structure & Redemption
Axis Bank Cashback Credit Card:
- Online Spends:
- Up to ₹5,000: 2% cashback
- ₹5,001 to ₹40,000: 5% cashback
- Above ₹40,000: 7% cashback
- Offline/Travel Spends: 0.75% cashback
- Utility Bill Payments: 0.5% cashback
- Cashback Redemption: Credited directly to the cardholder’s account before the next statement
HDFC Millennia Credit Card:
- Partner Online Merchants (e.g., Amazon, Flipkart, Myntra, Zomato): 5% cashback
- Other Spends: 1% cashback
- Cashback Redemption: Credited as CashPoints
- 1 CashPoint = ₹1 for statement balance
- 1 CashPoint = ₹0.30 for travel bookings, product catalog, or airmiles
- Redemption Fee: ₹50 + GST per request
Note: Axis Bank offers higher cashback rates, especially for high-value online transactions. HDFC provides flexibility through CashPoints, which can be redeemed for various purposes.
🍽️ Dining & Lifestyle Benefits
Axis Bank Cashback Credit Card:
- Dining Discount: 25% instant discount (up to ₹800) on EazyDiner for a minimum spend of ₹2,500
HDFC Millennia Credit Card:
- Dining Discount: Up to 20% discount at partner restaurants via Swiggy Dineout
- Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹400 and ₹5,000 (max ₹250 per statement cycle)
Note: Both cards offer dining benefits, with Axis Bank providing a higher discount on EazyDiner and HDFC offering broader dining options via Swiggy Dineout.
📊 Comparison Table
| Feature | Axis Bank Cashback Credit Card | HDFC Millennia Credit Card |
|---|---|---|
| Annual Fee | ₹1,180 | ₹1,180 |
| Joining Benefit | ₹1,000 worth EDGE Reward Points | 1,000 CashPoints |
| Annual Fee Waiver | ₹4 lakh spends | ₹1 lakh spends |
| Milestone Benefit | None | ₹1,000 gift voucher per quarter |
| Online Cashback | Up to 7% | 5% on partner merchants |
| Other Cashback | 0.75% (offline/travel), 0.5% (utilities) | 1% on other spends |
| Cashback Redemption | Direct credit to account | As CashPoints |
| Dining Benefit | 25% off on EazyDiner | Up to 20% off via Swiggy Dineout |
| Fuel Surcharge Waiver | Not specified | 1% waiver (max ₹250) |
✅ Bottom Line
- Choose Axis Bank Cashback Credit Card if:
- You frequently make high-value online purchases.
- You prefer direct cashback credited to your account.
- You want higher cashback rates on online transactions.
- Choose HDFC Millennia Credit Card if:
- You prefer flexibility in redeeming rewards as CashPoints.
- You want additional milestone benefits and dining discounts.
- You make regular purchases with partner merchants like Amazon, Flipkart, and Zomato.
❓ Frequently Asked Questions (FAQs)
Q1: Which card offers higher cashback on online purchases?
Axis Bank Cashback Credit Card offers up to 7% cashback on online spends above ₹40,000, whereas HDFC Millennia Credit Card offers 5% cashback on partner online merchants.
Q2: How can I waive the annual fee on these cards?
Axis Bank Cashback Credit Card’s annual fee is waived on spends of ₹4 lakh or more in the previous year. HDFC Millennia Credit Card’s annual fee is waived on spends of ₹1 lakh or more in the previous year.
Q3: What are the milestone benefits offered by HDFC Millennia Credit Card?
HDFC Millennia Credit Card offers gift vouchers worth ₹1,000 for every ₹1 lakh spent per quarter, totaling ₹4,000 annually.
Q4: How is cashback credited on these cards?
Axis Bank Cashback Credit Card’s cashback is credited directly to the cardholder’s account before the next statement. HDFC Millennia Credit Card’s cashback is credited as CashPoints, which can be redeemed for various purposes.
Q5: Are there any dining benefits associated with these cards?
Axis Bank Cashback Credit Card offers a 25% instant discount (up to ₹800) on EazyDiner for a minimum spend of ₹2,500. HDFC Millennia Credit Card offers up to 20% discount at partner restaurants via Swiggy Dineout.
In conclusion, both the Axis Bank Cashback Credit Card and the HDFC Millennia Credit Card offer compelling benefits tailored to different spending habits. Assessing your spending patterns and preferences will guide you in selecting the card that best aligns with your financial goals
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