Quick Verdict

  • For everyday spend, the Makemytrip ICICI Bank Signature Credit Card ⓘ wins with a higher base reward rate of 1.25% versus 0.8% on the Axis Bank Privilege Credit Card ⓘ.
  • For travel benefits and lounge access, the Makemytrip ICICI Bank Signature Credit Card ⓘ again takes the lead, offering 4 international lounge visits annually in addition to 8 domestic lounges, compared to only 8 domestic lounges on the Axis card.
  • The Axis Bank Privilege Credit Card ⓘ has a higher annual and joining fee of Rs 1,500 each, compared to Rs 999 each on the Makemytrip ICICI Bank Signature Credit Card ⓘ, making the latter cheaper to hold.
  • Choose the Axis Bank Privilege Credit Card ⓘ if you prefer a card focused on online shopping rewards and are comfortable with a higher fee for premium benefits. Opt for the Makemytrip ICICI Bank Signature Credit Card ⓘ if you prioritize travel rewards, lounge access abroad, and a lower fee structure.

Side by Side

DetailAxis Bank Privilege Credit Card ⓘMakemytrip ICICI Bank Signature Credit Card ⓘ
Annual feeRs 1,500Rs 999
Joining feeRs 1,500Rs 999
Fee waiver on spendRs 2.50 lakhNot recorded
Reward rate0.8% base, 2% online1.25% base, 6% travel, 2.5% dining
Reward typePointsPoints
Domestic lounge8 per year8 per year
International loungeNone4 per year
Forex markup3.5%3.5%
Best suited forRewards, lounge, first-card, travel, shoppingTravel, lounge, rewards

Rewards Compared

On a Rs 10,000 spend, the Axis Bank Privilege Credit Card ⓘ offers Rs 80 back at its base reward rate of 0.8%. However, if you spend online, the return jumps to Rs 200 per Rs 10,000 due to the 2% category rate, making it attractive for online shoppers. The card also provides a welcome benefit of 12,500 EDGE Reward Points worth Rs 2,500, adding upfront value.

The Makemytrip ICICI Bank Signature Credit Card ⓘ delivers Rs 125 per Rs 10,000 spent at its base rate of 1.25%, which is significantly higher than the Axis card’s base rate. Its rewards shine in travel and dining categories, with 6% and 2.5% returns respectively, translating to Rs 600 and Rs 250 per Rs 10,000 spent. This makes it an excellent choice for frequent travelers and diners. It also includes a welcome benefit of a Rs 1,000 MMT voucher and MMTBLACK Gold Tier Membership, enhancing travel-related perks.

Fees Compared

The Axis Bank Privilege Credit Card ⓘ charges a joining fee and annual fee of Rs 1,500 each. The annual fee is waived if you spend Rs 2.50 lakh annually, which breaks down to about Rs 20,833 monthly. The card’s break-even spend at the base reward rate to cover the fee is roughly Rs 1.88 lakh annually. This means if you spend below this, the rewards won’t offset the fees fully.

On the other hand, the Makemytrip ICICI Bank Signature Credit Card ⓘ has a lower joining and annual fee of Rs 999 each. No explicit fee waiver threshold is mentioned, but its higher base reward rate means you need to spend about Rs 79,920 annually at the base rate to cover the fee, which is more achievable for moderate spenders. This makes the Makemytrip ICICI Bank Signature Credit Card ⓘ more cost-effective for most users.

Which One Should You Pick

Choose the Axis Bank Privilege Credit Card ⓘ if you are a heavy online shopper or want a first premium card with solid online rewards and a substantial welcome benefit. It suits those who can comfortably meet the Rs 2.50 lakh annual spend to waive fees and want access to domestic lounges with a quarterly spend gate. However, skip this card if you travel internationally often or want a lower-fee card with better base rewards.

Pick the Makemytrip ICICI Bank Signature Credit Card ⓘ if you prioritize travel rewards, frequent international and domestic lounge access, and a lower fee structure. It is ideal for travelers and diners who can maximize the higher category returns on travel and dining spends. Avoid this card if your spend is mostly outside these categories or if you do not value the MMT-specific benefits.

Overall, the Makemytrip ICICI Bank Signature Credit Card ⓘ is the stronger all-rounder for travel and everyday rewards at a lower cost, while the Axis Bank Privilege Credit Card ⓘ is better for focused online spenders willing to pay a premium.

What to Check Before You Apply

  • Carefully check the quarterly Rs 50,000 spend gate on domestic lounges for the Axis Bank Privilege Credit Card ⓘ.
  • Confirm the redemption value of points and how easily you can convert them to vouchers or travel benefits.
  • Calculate the monthly spend required to waive the annual fee, especially Rs 20,833 per month for the Axis card.
  • Be aware of the 3.5% forex markup on both cards when using them abroad.
  • Verify the lounge locations and availability, particularly the 4 international lounges on the Makemytrip ICICI Bank Signature Credit Card ⓘ.

FAQ

What is the forex markup fee on these cards?+
Both the Axis Bank Privilege Credit Card ⓘ and the Makemytrip ICICI Bank Signature Credit Card ⓘ charge a forex markup of 3.5% on foreign currency transactions.
Are there any fee waivers available on these credit cards?+
The Axis Bank Privilege Credit Card ⓘ offers an annual fee waiver if you spend Rs 2.50 lakh annually, about Rs 20,833 per month. The Makemytrip ICICI Bank Signature Credit Card ⓘ does not specify a fee waiver threshold.
How many lounge visits do these cards provide?+
The Axis Bank Privilege Credit Card ⓘ allows 8 domestic lounge visits per year with a quarterly spend gate. The Makemytrip ICICI Bank Signature Credit Card ⓘ offers 8 domestic and 4 international lounge visits annually.
Which card is better for travel rewards?+
The Makemytrip ICICI Bank Signature Credit Card ⓘ is better for travel rewards with a 6% category rate on travel spends and additional international lounge access.
Is the welcome benefit significant on both cards?+
Yes, the Axis Bank Privilege Credit Card ⓘ offers 12,500 EDGE Reward Points worth Rs 2,500, while the Makemytrip ICICI Bank Signature Credit Card ⓘ provides a Rs 1,000 MMT voucher plus MMTBLACK Gold Tier Membership, both adding upfront value.