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Project report on :A comparative study on Credit Card facility offered by Axis bank

SUBMITTED BY :AMIT KUMAR SINGH / 15BSP0163


MANISH KUMAR / 15BSP1717

Axis bank
Axis Bank India, the first bank to begin operations as new private banks in 1994 after the Government
of India allowed new private banks to be established. Axis Bank was jointly promoted by the
Administrator of the specified undertaking of the

Unit Trust of India (UTI-I)

Life Insurance Corporation of India (LIC)

General Insurance Corporation Ltd.

Also with associates viz. National Insurance Company Ltd., the New India Assurance Company, The
Oriental Insurance Corporation and United Insurance Company Ltd.

Types of credit card


1.
1.

Premium Cards
Signature Credit Card with Life Style Benefits

With Signature Credit Card a world of privileges await you. One will only be delighted to get more
than they expect. Confused? Read on
Features & Benefits

One can avail the top most facilities while travelling, dinning, living, life style only with Axis
Banks Signature Credit Card.

Flexible spending limit (this is for the Burgundy Customers only)

Satya Pauls Gifts & Gift vouchers.

Taj Epicure Plan Membership.

50 % cash back on movie tickets among other features.

1.

Privilege Credit Card with Unlimited Travel Benefits

Make travelling more thrilling and memorable with this Privilege Card as it has a number of Travel
Privileges to make journeys magnificent!
Features & Benefits

Get Rs. 5, 000 Travel Voucher on the Activation itself.

Access to the Airport Lounges

Milestone Benefits

Buy 1 get 1 offer on the Movie Tickets and many more.


Both the cards have Fuel Surcharge Waiver feature!

2. MY Cards

1.

MY Choice Credit Card

Become a craftsman with the MY Choice Credit Card.


One gets a chance to not only design the card but also customize the card as per your requirements.
Make the best use of every transaction that you make.
Merits

5 % cash back on the most favourite spending categories but only 2 of them.

eDGE Loyalty Rewards Program

Highest level of Security

Convert purchases to EMI etc.

1.

MY Zone Credit Card

Features

Highest level of Security

25 % cash back on movie ticket bookings

5 X on shopping & 10 X on Dining eDGE Loyalty Rewards Point on week ends

Complimentary Lounge Access and various other rewards


Head out with your friends with this card where you get some nice exciting offers on shopping, ticket
book and a lot other stuff.

1.

MY Wings Credit Card

Loaded with some great benefits for not only Air Travel but also Buses and Railways this card
stands out as an ideal Travel Credit Card.
Characteristics

2 complimentary flight tickets

10, 000 worth Hotels & Holiday Vouchers

20 % cash back on base fare while booking any domestic flight (per sector)

Numerous cash backs or discounts on other travel booking across India etc
.

1.

MY Business Credit Card

Manage your Business in a methodical manner with this Business Credit Card as there are lower
interest rates, business savings plan among other benefits.

Company Name on the Card

Add on card

eDGE Loyalty Rewards Program

cash Advance Facility

Bill Pay

3. New Launches
1.

Neo Credit

Welcome Benefits

Power of 10 with you

Zero lost card liability up to the Credit Limit.

eDGE loyalty rewards program.

1.

Pride Platinum Credit Card serving the ones who Serve the Nation

15 % Discount with the Dining Delights at the Restaurants

1200 eDGE loyalty rewards points every year.

Free Add On cards for the near & dear ones.

1.

Pride Signature Credit Cards again for the ones who serve the Nation

Complimentary Lounge Access

1200 eDGE loyalty reward points every year.

Fuel surcharge waiver

A free Add On Card for the near & dear ones.

4. Co Branded Cards
Miles & More Credit Card
Miles & More being the frequent flyer program of about 9 air lines that include Lufthansa, Austrian
and SWISS among others. This card is linked to the Miles & More Mileage Account where there a
number of benefits to be earned.
Awesome Features

Earn unlimited miles

Redeem the miles for great rewards

Miles will never expire

Bill Payment from any bank account and many other top of the line features.

5. Other Credit Cards


1.

Titanium Smart Traveller Credit Card

Packed with some astounding features, this is one card that makes travelling more exciting.
Privileges

Fuel surcharge waiver

Travel benefits

Convert purchases to EMI

1.

Platinum Credit Card

Features Platinum Privileges

25 % Cash back on movie booking tickets

Global emergency assistance

Fuel surcharge waiver

Top level security

1.

Insta Easy Credit Card

Get hold of this card with minimum documentation as well as guaranteed approval.
Benefits

Up to 100 % cash withdrawal

Free credit period up to 50 days (T & C apply)

Fuel surcharge waiver

Customized credit limit

Tie-ups

BMTC ties up
The Bengaluru Metropolitan Transport Corporation (BMTC) in association with Axis Bank has
unveiled India's first open loop contactless card that will allow users to pay not only for bus
rides, but also use it at any other merchant outlet, similar to their debit or credit cards.

Ties up with insurance sector

LIC ties up with Axis Bank for credit card

Max Life Insurance Co. Ltd

Tie up with airlines

Vistara

The card comes in three variants


Infinite
Signature
Basic

Government ties up
Most of the State Governments in the country are now taking steps towards
redefining Citizen Services by setting up Integrated Citizen Facilitation Centres for
providing efficient G2C and B2C services to the citizens in an integrated manner.
These Citizen Facilitation Centres provide a 'One-Stop-Shop' to the citizens for
Payment of Sales Tax and Other Utility Bills, Issuing of certificates, permits,
licenses, Reservation of buses and several B2C services through various offline
and online modes

Govt. of Andhra Pradesh: eSeva Centres


Chandigarh Administration: Sampark Centres
Govt. of Karnataka: Bangalore One Centres
Govt. of Chhattisgarh: CHOICE Centres
Govt. of Uttar Pradesh: eSuvidha Centres

Cash withdrawal and Balance transfer facility and EMI facility

BALANCE TRANSFER FACILITY


Card member may make a single or multiple requests (not more than four) for
Balance Transfer from one or many card issuing banks subject to the available
credit limit assigned by Axis Bank Ltd. to the card member subject to the facility
being available at that time. The Balance Transfer request shall not be
processed for amounts less than Rs. 5000/- (or such amount as prescribed from
time to time).
The preferential rate of finance charges on the Balance Transfer (as specified by
the Bank from time to time) will be applicable only for a period of six months (for
0.75% plan) or three months (for 0% plan) from the date of issue of the Balance
Transfer draft. Processing fee will be applicable as follows:- For 3 months tenure

option : 2% of the Balance Transfer amount (subject to a minimum of Rs.


199/-),For 6 months tenure option : 1% of the Balance Transfer amount (subject
to a minimum of Rs. 100/-) The balance, if any, in the Balance Transfer account
will be transferred to the existing card account at the prevailing rate of finance
charges at the end of six months (for 0.75% plan) or three months (for 0% plan).

EMI FACILITY
HELLO-EMI options You have the option of converting your transaction of INR 2,500 or more into 3, 6,
9 or 12 month EMI.
EMI per Rs. 1000 for each of these tenures is given below:
Tenure Option Monthly Installments Per Rs. 1,000
3 Months

Rs. 343.38

6 Months

Rs. 175.53

9 Months

Rs. 119.68

12 Months

Rs. 91.67

Note: A onetime Processing Fee of 1.5% or Rs. 150, whichever is higher will be charged to your
Credit Card account on the rate of conversion.

Premium cards

MY Cards

New Launches

Co

Branded

Other Credit
Cards

Cards
Cash
withdrawal
Cash
Payment

2.5% (Min. Rs
250) of the
Cash Amount
Rs. 100/-

2.5% (Min. Rs
250) of the
Cash Amount
Nil if Total
Payment Due
is upto Rs. 100

2.5% (Min. Rs
250) of the
Cash Amount
Rs. 100/-

2.5% (Min. Rs
250) of the
Cash Amount
Rs. 100/-

2.5% (Min. Rs
250) of the
Cash Amount
Rs. 100/-

Waived

Rs. 300 if Total


Payment Due
is between Rs.
301 - Rs. 1000
Waived

Waived

Waived

Waived

Rs 300

Rs 300

Rs 300

Rs 300

Rs 300

Rs. 100 if Total


Payment Due
is between Rs.
101 - Rs. 300

Interest
chargeabl
e on
availing
revolving
facility
penalty for
cheque
returns etc

Security features
CHIP and PIN enabled Credit Cards
The CHIP present in your Card makes it far more reliable and secure, as compared to the traditional
magnetic stripe Cards. By storing data in a tamper-proof encrypted format, the CHIP protects your
Card against security threats such as Skimming or Counterfeiting, thereby offering the highest level of
security for your Card.
PIN feature on your Card enables you to additionally validate/authorize all your PoS transactions by
entering your Card's ATM PIN as well, making them more secure
What is Verified By Visa ?
Verified by Visa is a new service that will let you use a personal password with your
Axis Bank Visa card, giving you added assurance that only you can use your Axis Bank
Visa card to make purchases over the Internet. The process is simple to use and

secure:
To use the facility, you would:
- Connect to the Internet and shop online using your Axis Bank Visa card.
- You don't need any special software to use Verified by Visa.
- Using this facility is as easy as using a PIN for ATM transactions.

What is Master Card Secure Code?

MasterCard Secure Code is a new service that will let you use a personal password with
your Axis Bank MasterCard, giving you added assurance that only you can use your Axis
Bank MasterCard to make purchases over the Internet. The process is simple to use and
secure:
To use the facility, you would:
- Connect to the Internet and shop online using your Axis Bank MasterCard.
- You don't need any special software to use MasterCard Secure Code.
- Using this facility is as easy as using a PIN for ATM transactions.

What is Pay Secure?


Pay Secure is a payment service that allows you to use your Axis Bank RuPay Debit card for online
purchases. It uses a simplified yet secure architecture offering additional security. It allows you to use
your ATM PIN to make online payment with additional validation by selecting an image and phrase.

Reward points
List of transactions where you can earn points are:
Credit Cards

Points per Rs. 200


spent

First Online
Transaction

Birthday
Month

Add-on
Card

On Renewal

Silver Cards

2-4 Points

100 Points

2x Points

100 Points NA

Gold Cards

2-4 Points

100 Points

2x Points

100 Points NA

Titanium Cards

2-8 Points

100 Points

2x Points

100 Points NA

My Choice/ My Wings
Cards

4 Points

100 Points

2x Points

100 Points NA

My Business Cards

4 Points

100 Points

2x Points

100 Points NA

Platinum/ Insta Easy

6-12 Points

100 Points

2x Points

100 Points NA

Cards
Signature/ Infinite
Cards

10-20 Points

100 Points

2x Points

100 Points 5000 Points (only


for Burgundy
Customers)

My Zone Cards

4 Points

100 Points

2x Points

100 Points NA

Comparison

BEST CREDIT CARD OPTIONS 2016

Add-

Name of Credit Card

Annual

Renewal

Joining

EMI

on

Per Month Interest Rate

Fees

Fees

Fees

Options

fee

Charge

Standard

Monthly Interest Rate is

Chartered

3.1% pm and is

Platinum Rewards

annualized to arrive at an

Credit Card

NIL

750.00

399.00

Yes

NA

APR of 37.20%

Standard

Monthly Interest Rate is

Chartered Inner

3.1% pm and is

Circle Titanium

annualized to arrive at an

Credit Card

NIL

NIL

NIL

Yes

NIL

HDFC Platinum
Plus Credit Card

3.4%monthly and 40.8%


NIL

NA

NIL

NA

NA

HDFC Solitaire
Credit Card

APR of 37.20%

annually

3.4%monthly and 40.8%


NIL

NA

NIL

NA

NA

annually

Axis Bank
MYChoice Credit
250.00 NA

250.00

Yes

NA

NA

Card

200

500

yes

nil

3.25% per month

ICICI Bank Coral

500 +

Credit Card

GST

Card

Axis Bank
Platinum Credit
nil

1000 +
NIL

GST

3.4%monthly and 40.8%


Yes

NIL

annually

Conclusion
Axis bank has developed manifold in short period of time due to facilities and services provided to
their customer and this growth rate can be keep it up if they start to go in semi-urban areas. In last
couple of years they have opened new many branches and they should open many more. So they
can get customers in semi urban areas also.
Axis bank credit cards have tie ups with airlines, restaurant, hotels government and insurance
companies. For security of their customer they have got the cards with master card, visa and pay
secure.
Applying for axis bank credit card can also be done through their website, which provide full
information about the credit card.