Axis Bank ACE Credit Card vs HDFC Millennia Credit Card

Updated on: 24 Apr 2024 // 4 min read // Credit Cards

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In the ever-expanding universe of credit cards, selecting the one that aligns perfectly with your spending habits and financial goals can be overwhelming. Two of the most talked-about contenders in the Indian market are the Axis Bank ACE Credit Card and the HDFC Millennia Credit Card. In this blog post, we'll dive deep into the features, benefits, and potential drawbacks of each card, helping you make an informed decision.

Overview:

Axis Bank ACE Credit Card: Introduced as a collaboration between Axis Bank and Google Pay, this card targets digital payment users. With a focus on cashback and online utility bill payments, it's tailored for the tech-savvy consumer.
HDFC Millennia Credit Card: A part of HDFC Bank's premium credit card segment, the Millennia Credit Card is tailored for the digital age, offering benefits across online shopping, dining, and travel.

Rewards and Cashback:

Axis Bank ACE Credit Card:
- 5% cashback on bills paid via Google Pay.
- 4% cashback on Swiggy, Zomato, Ola, and more.
- 2% cashback on other retail spends.
- No cap on cashback earned.
HDFC Millennia Credit Card:
- 5% cashback on Amazon, Flipkart, flight and hotel bookings on shopping via PayZapp and SmartBUY.
- 1% cashback on offline spends and wallet reloads.
- Cashback is given in the form of Millennia Cash points which have to be redeemed.

Winner - While both cards offer substantial rewards, the ACE card's straightforward cashback without the need for points redemption makes it slightly more appealing for users who prefer simplicity.

Welcome Benefits:

Axis Bank ACE Credit Card: Get complimentary vouchers from partner brands on achieving spending milestones.
HDFC Millennia Credit Card: On payment of the membership fee, get gift vouchers from popular online platforms.

Winner - The choice largely depends on the value of the welcome vouchers and where you frequently shop.

Annual Fee and Waiver:

Axis Bank ACE Credit Card: ₹499 + GST, waived off on spending ₹2 lakh annually.
HDFC Millennia Credit Card: ₹1,000 + GST, waived off on spending ₹1 lakh in the previous year.

Winner - Axis Bank ACE Credit Card edges out slightly because of the lower annual fee.

Dining and Entertainment Benefits:

Axis Bank ACE Credit Card: Enjoy up to 20% off at partner restaurants.
HDFC Millennia Credit Card: Avail of a 20% discount on dining bills at partnered restaurants and offers on movie ticket bookings.

Winner: While both cards offer dining benefits, the HDFC Millennia's addition of movie ticket offers can be more attractive to entertainment buffs.

Fuel Benefits:

Axis Bank ACE Credit Card: 1% fuel surcharge waiver on fuel transactions.
HDFC Millennia Credit Card: 1% fuel surcharge waiver, capped at ₹250 every billing cycle.

Winner: It's a tie, as both cards offer similar fuel benefits.

Other Features:

Axis Bank ACE Credit Card: Provides comprehensive protection against fraudulent transactions.
HDFC Millennia Credit Card: Provides Lounge access, Comprehensive Insurance Coverage, and offers on wellness and healthcare.

Winner: HDFC Millennia Credit Card, due to the more diverse set of features.

Potential Drawbacks:

Axis Bank ACE Credit Card: Rewards are more skewed towards online spending; offline spenders might not derive maximum value.
HDFC Millennia Credit Card: The cashback structure might seem complex to some, especially with the need to redeem points.