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Axis Bank Horizon Credit Card vs SBI Card MILES
On net annual value, Axis Bank Horizon beats SBI Card MILES in all four spend profiles we model, from ₹5,790 a year for everyday spenders to ₹41,060 for high spenders. SBI Card MILES costs ₹1,499 a year against ₹3,000 and charges 3% on foreign-currency spend against 3.5%. 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 Horizon Credit Card | SBI Card MILES |
|---|---|---|
Everyday spender ≈ ₹40k/mo across groceries, bills, dining and fuel | ₹5,521/yr✓ +₹5,790/yr | −₹269/yr |
Online shopper ≈ ₹60k/mo, mostly e-commerce and subscriptions | ₹11,041/yr✓ +₹7,992/yr | ₹3,049/yr |
Frequent traveller ≈ ₹1.2L/mo with heavy travel and forex spend | ₹18,022/yr✓ +₹17,682/yr | ₹340/yr |
High spender ≈ ₹2.5L/mo across every category | ₹38,550/yr✓ +₹41,060/yr | −₹2,510/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 Horizon Credit CardAxis EDGE Miles | SBI Card MILESSBI Card Travel Credits |
|---|---|---|
| Cash / statement credit | ₹0.20 | — |
| Gift vouchers | — | ₹0.25 |
| Travel portal | ₹1.00BEST | ₹0.50 |
| Airline / hotel transfer | ₹1.001:1BEST | ₹1.076:1BEST |
Return by categoryearn rate × point value
Headline reward rate per category, before monthly caps. Switch the redemption strategy above to see how the picture shifts.
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 Horizon Credit Card | SBI Card MILES | |
|---|---|---|
| Fees | ||
| Joining fee | ₹3,000 | ₹1,499 |
| Annual fee | ₹3,000/yr | ₹1,499/yr ✓ |
| Annual fee — all-in (incl. 18% GST) | ₹3,540 | ₹1,769 ✓ |
| Fee waiver at | — | ₹6,00,000/yr spend |
| Welcome benefit | ~₹5,000 | ~₹750 |
| Rewards | ||
| Best everyday reward | 2% on everyday spends ✓ | 0.5% on Travel |
| Base rate — other spends | 2% ✓ | 0.25% |
| Travel | 2% ✓ | 0.5% |
| Charges | ||
| Forex markup | 3.5% | 3% ✓ |
| Finance charge | 3.75% p.m. | 3.75% p.m. |
| Cash advance | — | — |
| Add-on card | — | — |
| Perks | ||
| fuel waiver | — | ~₹2,000/yr · 1% fuel surcharge waiver on transactions of ₹500–₹3,000 at all petrol pumps, capped at ₹250 per statement cycle. Fuel spends still earn no Travel Credits |
| lounge access | ~₹24,000/yr · Up to 32 domestic (6-8 per quarter) and 8 international airport lounge visits a year | ~₹2,000/yr · 4 complimentary domestic airport lounge visits a year (max 2 in any quarter), plus 1 extra visit for every ₹1 lakh of spend, up to 8 more a year. Complimentary Priority Pass membership worth $99 free for the first 2 years — the membership only; each Priority Pass visit costs $27 plus taxes |
| milestone bonus | ~₹1,500/yr · 1,500 EDGE Miles on every renewal (the 5,000-mile welcome benefit is a one-off joining bonus, counted separately) | ~₹2,500/yr · 5,000 bonus Travel Credits on ₹5 lakh of annual spend |
| Eligibility | ||
| Min income | — | — |
| Min age | 18+ yrs | — |
| UPI linked | — | — |
| Expert rating | 4.0 / 5 ✓ | 3.8 / 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.
Bonus via the bank's own portal
- 5 EDGE Miles per ₹100 on the Axis Travel EDGE portal and direct airline bookings — hotels and online travel agencies earn the base 2 per ₹100. Miles transfer 1:1 to most partners, 2:1 to British Airways, Finnair, IndiGo BluChip, Vietnam, Qatar, Cathay and Accor.
Which should you pick?
Choose the Axis Bank Horizon Credit Card if you want strong rewards on everyday spends. Consider the SBI Card MILES if you spend more on travel and prefer a lower fee. Your actual best card depends on how you spend — run your numbers below.
Axis Bank Horizon Credit Card vs SBI Card MILES — FAQs
Which has a lower annual fee, Axis Bank Horizon Credit Card or SBI Card MILES?
As of 11 Oct 2026, SBI Card MILES has the lower annual fee: ₹1,499 (₹1,769 with 18% GST), against ₹3,000 (₹3,540 with 18% GST) on Axis Bank Horizon. SBI Card MILES waives its fee after ₹6,00,000 of spend in a card year; Axis Bank Horizon has no spend-based waiver.
Do Axis Bank Horizon Credit Card and SBI Card MILES offer airport lounge access?
As of 11 Oct 2026, Axis Bank Horizon and SBI Card MILES both include airport lounge access, on different terms. Axis Bank Horizon lists up to 32 domestic visits a year and 8 international visits a year at airport lounges. SBI Card MILES lists 4 domestic visits a year (up to 2 a quarter) at airport lounges, plus a Priority Pass membership with paid visits.
Which card has lower forex markup, Axis Bank Horizon Credit Card or SBI Card MILES?
As of 11 Oct 2026, SBI Card MILES has the lower forex markup: 3%, against 3.5% on Axis Bank Horizon. With 18% GST on the markup, ₹1,00,000 spent abroad costs about ₹3,540 extra on SBI Card MILES and ₹4,130 on Axis Bank Horizon, a ₹590 difference.
For a frequent traveller, is the Axis Bank Horizon Credit Card or SBI Card MILES better value?
On figures as of 11 Oct 2026, Axis Bank Horizon 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 ₹18,022 against ₹340 on SBI Card MILES, a ₹17,682 gap. That figure includes the forex markup on this traveller's spend abroad, where SBI Card MILES charges 3% against 3.5% on Axis Bank Horizon.
For everyday spending, which returns more: Axis Bank Horizon Credit Card or SBI Card MILES?
On figures as of 11 Oct 2026, Axis Bank Horizon 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 ₹5,521 against −₹269 on SBI Card MILES, a ₹5,790 gap. Best everyday rates: 2% on everyday spends for Axis Bank Horizon, 0.5% on travel for SBI Card MILES.
Which is better, Axis Bank Horizon Credit Card or SBI Card MILES?
As of 11 Oct 2026, Axis Bank Horizon earns 2% on everyday spends outside merchant or portal bonuses, paid as Axis EDGE Miles, and SBI Card MILES earns 0.5% on travel at best, paid as SBI Card Travel Credits. Axis Bank Horizon comes out ahead on net annual value in all four spend profiles we model. The case for SBI Card MILES is that it costs ₹1,499 a year against ₹3,000 and charges 3% on foreign-currency spend against 3.5%.