Quick Verdict

  • The ICICI Bank HPCL Coral Credit Cardⓘ wins for everyday spend with a higher base reward rate of 0.5% versus Axis Bank My Zone Credit Card’s 0.4%.
  • For category-specific rewards, Axis Bank My Zone Credit Cardⓘ dominates dining and online spends with 15% and 5% returns respectively, while ICICI HPCL Coralⓘ is better for fuel at 5%.
  • Both offer 4 domestic lounge visits annually, but Axis Bank My Zoneⓘ requires a lower quarterly spend gate (Rs 50,000) compared to ICICI HPCL Coralⓘ’s Rs 75,000.
  • The ICICI HPCL Coralⓘ card is cheaper to hold with a Rs 199 annual fee and a waiver at Rs 1.5 lakh annual spend, versus Axis Bank My Zoneⓘ with Rs 500 annual fee and no waiver.
  • Choose Axis Bank My Zoneⓘ if your spend tilts towards dining or online shopping and lounge access at moderate spends. Pick ICICI HPCL Coralⓘ if you want better base rewards, fuel benefits, and a lower fee with waiver.

Side by Side

DetailAxis Bank My Zone Credit CardⓘICICI Bank HPCL Coral Credit Cardⓘ
Annual feeRs 500Rs 199
Joining feeRs 500Rs 199
Fee waiver on spendRs 1.50 lakh
Reward rate0.4%0.5%
Reward typepointspoints
Domestic lounge4 per year4 per year
International loungeNoneNone
Forex markup3.5%3.5%
Best suited fordining, first-card, cashback, shoppingfuel, first-card, shopping

Rewards Compared

Spending Rs 10,000 on the Axis Bank My Zone Credit Cardⓘ earns Rs 40 back at the base reward rate of 0.4%. However, if your spend is concentrated on dining, this card shines with a 15% return, giving Rs 1,500 back on Rs 10,000 spent. For online purchases, a 5% return yields Rs 500 on the same spend. This makes it highly attractive for users prioritizing dining and online shopping categories.

On the other hand, the ICICI Bank HPCL Coral Credit Cardⓘ offers a superior base reward rate of 0.5%, resulting in Rs 50 back on every Rs 10,000 spent, making it more rewarding for general spends. Its key category is fuel, where it provides a 5% return or Rs 500 on Rs 10,000 spent, which is beneficial for regular drivers. Thus, ICICI Coralⓘ is better for everyday and fuel spends, while Axis My Zoneⓘ excels in dining and online spends.

Fees Compared

The Axis Bank My Zone Credit Cardⓘ levies an annual fee of Rs 500 and a joining fee of Rs 500, with no fee waiver for annual spending. Its break-even annual spend to cover the fee at base rewards is about Rs 1,25,000.

The ICICI HPCL Coral Credit Cardⓘ has a much lower annual and joining fee of Rs 199 each. The annual fee can be waived if you spend Rs 1.5 lakh annually, which translates to Rs 12,500 per month. The break-even annual spend to cover the base fee is Rs 39,800, making this card significantly cheaper to hold if you meet the waiver requirement.

Which One Should You Pick

The Axis Bank My Zone Credit Cardⓘ is ideal for someone looking for strong dining and online rewards, occasional domestic lounge access with a lower spend gate, and who prefers cashback-like points. It suits first-time credit card users who want category-heavy rewards and are comfortable paying a moderate annual fee without waiver benefits. Skip this card if you want better base rewards or cheaper fees.

The ICICI Bank HPCL Coral Credit Cardⓘ suits users who want a higher base reward rate on all spends, fuel-specific benefits, and a low-cost card with an annual fee waiver on reasonable spends. It’s a good first card for those who spend regularly on fuel and want to avoid high fees. Avoid this card if you do not meet the Rs 1.5 lakh annual spend for fee waiver or if you prioritize dining rewards.

Overall, if you prioritize category-specific dining and online rewards with moderate lounge access, go for Axis Bank My Zoneⓘ. If you want higher base returns, fuel benefits, and a cheaper fee structure with waiver, ICICI HPCL Coralⓘ is your pick.

What to Check Before You Apply

  • Confirm the quarterly lounge spend gates (Rs 50,000 for Axis My Zoneⓘ and Rs 75,000 for ICICI Coralⓘ) fit your spending habits.
  • Understand the redemption process and point value since both cards use points but have different reward structures.
  • Calculate the monthly spend needed to waive fees, especially Rs 12,500 per month for ICICI Coralⓘ.
  • Beware of the 3.5% forex markup if you plan to use these cards abroad.
  • Verify which domestic lounge networks each card grants access to and if they align with your travel routes.

FAQ

What is the annual fee on both cards?+
The Axis Bank My Zone Credit Cardⓘ charges Rs 500 annually with no waiver. The ICICI HPCL Coral Credit Cardⓘ charges Rs 199 annually, which can be waived if you spend Rs 1.5 lakh annually.
Do these cards offer international lounge access?+
No, neither card offers international lounge access. Both provide 4 domestic lounge visits per year subject to quarterly spend gates.
Which card has better rewards for fuel spending?+
The ICICI HPCL Coral Credit Cardⓘ offers 5% rewards on fuel, making it preferable for fuel expenses. The Axis Bank My Zone Credit Cardⓘ does not have a fuel category bonus.
How much do I pay on forex transactions abroad?+
Both cards charge a forex markup of 3.5% on foreign currency transactions, which can add significant cost on international spends.
Can first-time credit card users choose either card?+
Yes, both cards are suited for first-time users, but pick Axis Bank My Zoneⓘ if you want strong dining and online rewards, or ICICI HPCL Coralⓘ for better base rewards and fuel benefits.