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Axis Bank ACE Credit Card vs HDFC Millennia Credit Card
On net annual value, Axis Bank ACE comes out ahead for frequent travellers and high spenders (by up to ₹18,512 a year), and HDFC Millennia for everyday spenders and online shoppers (by up to ₹7,378 a year). Axis Bank ACE isn't taking new applications, while HDFC Millennia is open to applications. Axis Bank ACE costs ₹499 a year against ₹1,000. Figures as of .
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Who comes out ahead — by how you spend
Estimated net annual value for four typical spend profiles: the rewards each card earns on that spend (a merchant or portal bonus only on the share of spend it plausibly reaches), plus the perks and milestone bonuses that spender would use, less any annual fee the spend does not waive (with GST) and the forex markup on spending abroad. Lounge access carries no rupee value here.
| Spender | Axis Bank ACE Credit Card | HDFC Millennia Credit Card |
|---|---|---|
Everyday spender ≈ ₹40k/mo across groceries, bills, dining and fuel | ₹7,560/yr | ₹9,343/yr✓ +₹1,783/yr |
Online shopper ≈ ₹60k/mo, mostly e-commerce and subscriptions | ₹11,745/yr | ₹19,123/yr✓ +₹7,378/yr |
Frequent traveller ≈ ₹1.2L/mo with heavy travel and forex spend | ₹15,032/yr✓ +₹52/yr | ₹14,980/yr |
High spender ≈ ₹2.5L/mo across every category | ₹30,312/yr✓ +₹18,512/yr | ₹11,800/yr |
Not in these numbers: both include airport lounge access — real perks that can outweigh a small gap.
Illustrative profiles, not a personalised result — your categories decide the real winner. Run these two on my spending →
What your points are actually worth
A point's headline value means little without the earn rate behind it. Here's the real math — the value of a point by how you redeem it, the resulting return by category, and the net rupees for your own spend.
| Value of one point, by route | Axis Bank ACE Credit CardCashback | HDFC Millennia Credit CardCashback |
|---|---|---|
| Cash / statement credit | ₹1.00BEST | ₹1.00BEST |
Return by categoryearn rate × point value
Headline reward rate per category, before monthly caps.
Your spend, head to head
Enter your monthly spend — net value is the annual rewards after the card fee, at each card's best realistic redemption (our recommender's model, caps and fee-waivers included).
Total ₹60,000/mo · ₹7,20,000/yr
Want the money-first pick across your whole wallet? Run the recommender →
| Axis Bank ACE Credit Card | HDFC Millennia Credit Card | |
|---|---|---|
| Fees | ||
| Joining fee | ₹499 | ₹1,000 |
| Annual fee | ₹499/yr ✓ | ₹1,000/yr |
| Annual fee — all-in (incl. 18% GST) | ₹589 ✓ | ₹1,180 |
| Fee waiver at | ₹2,00,000/yr spend | ₹1,00,000/yr spend |
| Welcome benefit | — | ~₹1,000 |
| Rewards | ||
| Best everyday reward | 1.5% on everyday spends ✓ | 1% on everyday spends |
| Dining | 1.5% ✓ | 1% |
| Online Shopping | 1.5% ✓ | 1% |
| Base rate — other spends | 1.5% ✓ | 1% |
| Utility Bills | 1.5% ✓ | 1% |
| Charges | ||
| Forex markup | 3.5% | 3.5% |
| Finance charge | 3.75% p.m. | 3.75% p.m. |
| Cash advance | — | — |
| Add-on card | — | — |
| Perks | ||
| fuel waiver | — | ~₹600/yr · 1% fuel surcharge waiver at all fuel stations (₹400–₹5,000 per txn), capped ₹250/statement cycle |
| lounge access | ~₹2,000/yr · 4 complimentary domestic airport lounge visits a year — an annual allowance with no per-quarter limit — unlocked by spending ₹50,000 in the previous 3 calendar months | ~₹2,000/yr · A domestic lounge visit each quarter on ₹1 lakh of spend in the previous quarter, issued as a voucher. Widely reported as up to 4 a year and as an alternative to the ₹1,000 quarterly voucher rather than in addition to it, though HDFC publishes neither the count nor that either/or rule. |
| milestone bonus | — | ~₹4,000/yr · ₹1,000 voucher each calendar quarter on ₹1 lakh of spend in that quarter — ₹4,000 a year only if you clear the bar all four quarters; offered as an alternative to the quarterly lounge visit |
| Eligibility | ||
| Min income | — | ₹35,000/mo |
| Min age | — | 21+ yrs |
| UPI linked | — | — |
| Expert rating | 4.5 / 5 ✓ | 4.4 / 5 |
Reward rates above are the realistic value you keep — points earned × what a point is worth at each card's own best redemption, before monthly caps — so cards with different point values compare fairly. Bank-portal accelerators (earned only by booking through the issuer's own portal, on a slice of spend) are bounded upside, listed separately here rather than blended into the everyday rates.
Which should you pick?
Choose the Axis Bank ACE Credit Card if you want strong rewards on everyday spends at a lower annual fee. Consider the HDFC Millennia Credit Card if you spend more on everyday spends. Your actual best card depends on how you spend — run your numbers below.
Axis Bank ACE Credit Card vs HDFC Millennia Credit Card — FAQs
Which has a lower annual fee, Axis Bank ACE Credit Card or HDFC Millennia Credit Card?
As of 24 Oct 2026, Axis Bank ACE has the lower annual fee: ₹499 (₹589 with 18% GST), against ₹1,000 (₹1,180 with 18% GST) on HDFC Millennia. Axis Bank ACE waives it after ₹2,00,000 of spend in a card year, HDFC Millennia after ₹1,00,000.
Do Axis Bank ACE Credit Card and HDFC Millennia Credit Card offer airport lounge access?
As of 24 Oct 2026, Axis Bank ACE and HDFC Millennia both include airport lounge access, on different terms. Axis Bank ACE lists 4 domestic visits a year at airport lounges, unlocked by ₹50,000 of spend in the previous quarter. HDFC Millennia lists 1 domestic visit a quarter at airport lounges, unlocked by ₹1,00,000 of spend in the previous quarter. For spending abroad, Axis Bank ACE and HDFC Millennia both add a 3.5% forex markup.
Which card has lower forex markup, Axis Bank ACE Credit Card or HDFC Millennia Credit Card?
As of 24 Oct 2026, Axis Bank ACE and HDFC Millennia charge the same 3.5% forex markup. With 18% GST on the markup, each foreign-currency transaction on Axis Bank ACE or HDFC Millennia costs about 4.13% extra, roughly ₹4,130 on ₹1,00,000 spent abroad.
For a frequent traveller, is the Axis Bank ACE Credit Card or HDFC Millennia Credit Card better value?
On figures as of 24 Oct 2026, Axis Bank ACE comes out ahead for a frequent traveller (about ₹1.2 lakh a month with heavy travel and forex spend), with a net annual value (rewards, perks and milestones, less the annual fee and forex markup) of ₹15,032 against ₹14,980 on HDFC Millennia, a ₹52 gap. At this spend Axis Bank ACE and HDFC Millennia both waive their annual fees.
For everyday spending, which returns more: Axis Bank ACE Credit Card or HDFC Millennia Credit Card?
On figures as of 24 Oct 2026, HDFC Millennia comes out ahead for an everyday spender (about ₹40,000 a month across groceries, bills, dining and fuel), with a net annual value (rewards, perks and milestones, less the annual fee and forex markup) of ₹9,343 against ₹7,560 on Axis Bank ACE, a ₹1,783 gap. At this spend Axis Bank ACE and HDFC Millennia both waive their annual fees.
Which is better, Axis Bank ACE Credit Card or HDFC Millennia Credit Card?
As of 24 Oct 2026, Axis Bank ACE earns 1.5% on everyday spends outside merchant or portal bonuses, paid as cashback, and HDFC Millennia earns 1% on everyday spends outside merchant or portal bonuses, paid as cashback. Axis Bank ACE comes out ahead on net annual value for frequent travellers and high spenders, and HDFC Millennia for everyday spenders and online shoppers. Of the two, only HDFC Millennia takes applications today; Axis Bank ACE isn't taking new applications.