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HDFC Bank Millennia vs Axis Bank ACE

Verified 11 sources

Your monthly spend

Axis Bank ACE beats HDFC Bank Millennia by ₹1,700 a year at ₹30,000 a month: ₹5,100 against ₹3,400, after fees

Axis Bank ACE and HDFC Bank Millennia are ₹200 a year apart at ₹75,000 a month: ₹12,700 against ₹12,500, after fees

Axis Bank ACE beats HDFC Bank Millennia by ₹9,400 a year at ₹1.5 lakh a month: ₹25,400 against ₹16,000, after fees

Axis Bank ACE beats HDFC Bank Millennia by ₹34,800 a year at ₹3 lakh a month: ₹50,800 against ₹16,000, after fees

Axis Bank ACE beats HDFC Bank Millennia by ₹68,600 a year at ₹5 lakh a month: ₹84,600 against ₹16,000, after fees

HDFC Bank Millennia credit card

HDFC Bank

HDFC Bank Millennia

Our verdict: Keep

Axis Bank ACE credit card

Axis Bank

Axis Bank ACE

Our verdict: Keep

Axis Bank ACE vs HDFC Bank Millennia: which should you pick?

The two cashback cards every first-card thread weighs. Millennia pays 5% at ten named merchants and 1% elsewhere, each capped at 1,000 CashPoints a calendar month; ACE pays 5% on bills and recharges paid through Google Pay and 4% on Swiggy, Zomato and Ola, sharing one ₹500 cap a statement, and 1.5% on everything else with no cap. From ₹75k a month up, ACE out-earns Millennia, and below it the two trade places — ACE ahead at ₹25k, Millennia at ₹50k. ₹499 waived at ₹2,00,000 of spend against ₹1,000 waived at ₹1,00,000; both charge 3.5% abroad. ACE opens four domestic lounge visits a year on ₹50,000 of spend in the previous three months, and Millennia's only lounge is a quarterly voucher you take instead of ₹1,000 of brand vouchers.

The better card changes with your spend: Axis Bank ACE ahead at ₹25,000, HDFC Bank Millennia ahead at ₹50,000, Axis Bank ACE ahead from ₹75,000 to ₹5 lakh a month. At ₹75,000 a month the gap is mostly what each card earns on your spend: Axis Bank ACE returns ₹12,700 a year in rewards to HDFC Bank Millennia's ₹12,500. On the rows below, HDFC Bank Millennia has no clear edge over Axis Bank ACE.

HDFC Bank Millennia's ongoing earn stops at ₹1,00,000 of spend a month, where Axis Bank ACE's doesn't.

HDFC Bank Millennia review Axis Bank ACE review

Side by side

HDFC Bank Millennia and Axis Bank ACE, fact by fact
FactHDFC Bank MillenniaAxis Bank ACE
Can you get itOpen to applyOpen to apply
Fee (joining · annual, + GST)₹1,000/yr₹499/yr✓ Better
Fee waiverSpend ₹1,00,000 a yearSpend ₹2,00,000 a year
Reward rate on everyday spend1.0%1.5%✓ Better
PointsHDFC Bank CashPointsAxis Bank Cashback
Our value per point₹1.00 †₹1.00
Transfer partnersNoneNone
Lounges it gets you into0 of 79212 of 792✓ Better
Forex markup3.5% + GST3.5%
Welcome benefit1,000 CashPoints (₹1,000 as statement credit) on payment of the joining fee — and nothing at all on renewalNot published — Axis lists no welcome or activation benefit for ACE on the product page or in the Key Fact Sheet

✓ Better marks the side that wins a row; rows that compare unlike things are not scored. Axis Bank ACE is ahead on 10 of the 10 rows we can call.

More facts 8 rows
Rank, verdict, lounge visits and fine print
FactHDFC Bank MillenniaAxis Bank ACE
Our rank#137#127✓ Better
Our verdictKeepKeep
Lounge visits in India1 HOI lounge voucher per calendar quarter — but only INSTEAD of the ₹1,000 milestone voucher, never as well4/year at the 11 rooms on Axis's Set A list
Lounge visits abroadNoneNone
Forex, in the bank’s words3.5% + GST3.5% of the transaction value, plus a 3.5% dynamic-currency-conversion markup — raised from 1.5% on 28 August 2026.
Interest (APR)3.75%/mo (45%/yr)3.75%/mo (55.55%/yr) — Axis standard tier
Income needed (salaried)₹35,000+/month netnot published
Income needed (self-employed)ITR ₹6L+/yrnot published

† HDFC Bank Millennia: Millennia's CashPoints are worth ₹1 each — but only against the statement, only above a 500-point minimum, only 3,000 points a calendar month, and only after a ₹50 redemption fee HDFC added on 1 August 2024. Point them at travel and they collapse to ₹0.30: that is the rate on SmartBuy flights and hotels, on the rewards catalogue, and on Airmiles, and the catalogue route adds ₹99 + taxes of handling on top. Flight and hotel bookings can absorb at most 50% of the fare in points, capped at 50,000 points a month. There is no transfer partner — this currency does not reach an airline programme at all.

Our value per point is what we think a point is worth when you use it well; every currency's figure and its reasoning is on points values.

What each is worth to you

A year of rewards and bonuses, after the fee
Monthly spendHDFC Bank MillenniaAxis Bank ACE
At ₹30,000 a month₹3,400₹5,100✓ Better
At ₹75,000 a month₹12,500₹12,700✓ Better
At ₹1.5 lakh a month₹16,000₹25,400✓ Better
At ₹3 lakh a month₹16,000₹50,800✓ Better
At ₹5 lakh a month₹16,000₹84,600✓ Better
Pays for itself from₹9,000 a month₹3,000 a month✓ Better

On an everyday mix of spending (groceries, bills, travel, fuel and the rest), using each card's own rules for each kind of spend. The same figures as each card's own page.

Every spend from ₹25,000 to ₹5 lakh 20 steps
HDFC Bank Millennia and Axis Bank ACE at each ₹25,000 step
Monthly spendHDFC Bank MillenniaAxis Bank ACEAhead
₹25,000₹2,800₹4,200✓ BetterAxis Bank ACE by ₹1,400
₹50,000₹9,600✓ Better₹8,500HDFC Bank Millennia by ₹1,100
₹75,000₹12,500₹12,700✓ BetterAxis Bank ACE by ₹200
₹1 lakh₹15,300₹16,900✓ BetterAxis Bank ACE by ₹1,600
₹1.25 lakh₹16,000₹21,200✓ BetterAxis Bank ACE by ₹5,200
₹1.5 lakh₹16,000₹25,400✓ BetterAxis Bank ACE by ₹9,400
₹1.75 lakh₹16,000₹29,600✓ BetterAxis Bank ACE by ₹13,600
₹2 lakh₹16,000₹33,800✓ BetterAxis Bank ACE by ₹17,800
₹2.25 lakh₹16,000₹38,100✓ BetterAxis Bank ACE by ₹22,100
₹2.5 lakh₹16,000₹42,300✓ BetterAxis Bank ACE by ₹26,300
₹2.75 lakh₹16,000₹46,500✓ BetterAxis Bank ACE by ₹30,500
₹3 lakh₹16,000₹50,800✓ BetterAxis Bank ACE by ₹34,800
₹3.25 lakh₹16,000₹55,000✓ BetterAxis Bank ACE by ₹39,000
₹3.5 lakh₹16,000₹59,200✓ BetterAxis Bank ACE by ₹43,200
₹3.75 lakh₹16,000₹63,500✓ BetterAxis Bank ACE by ₹47,500
₹4 lakh₹16,000₹67,700✓ BetterAxis Bank ACE by ₹51,700
₹4.25 lakh₹16,000₹71,900✓ BetterAxis Bank ACE by ₹55,900
₹4.5 lakh₹16,000₹76,100✓ BetterAxis Bank ACE by ₹60,100
₹4.75 lakh₹16,000₹80,400✓ BetterAxis Bank ACE by ₹64,400
₹5 lakh₹16,000₹84,600✓ BetterAxis Bank ACE by ₹68,600
How we work out the yearly value

We put each card through the same everyday mix of spending, apply that card's own rules for each kind of spend (some earn nothing on fuel or bills), add its milestone and renewal bonuses at our value per point, and take off the fee unless that spend waives it. Bonus categories that need you to shop a certain way are not counted. Your own mix will differ: try your numbers in the calculator, or read how we value cards.

Before you choose

Transfer partners 0 and 0

HDFC Bank Millennia's HDFC Bank CashPoints cannot be moved to any airline or hotel; Axis Bank ACE's Axis Bank Cashback cannot be moved to any.

Every partner and ratio is on each card's page; the best value for your points is on the transfer optimizer.

Watch out 6 points

HDFC Bank Millennia

  • The lounge is an EITHER/OR: one HOI lounge voucher or a ₹1,000 brand voucher per quarter, never both — 4 visits a year at absolute best
  • Complimentary lounge access was withdrawn on 30 Nov 2023; walk-in visits on the card are now charged at the lounge's own rate
  • Points are ₹1 only as statement credit — ₹0.30 on SmartBuy flights, hotels, catalogue and Airmiles

6 more on its page

Axis Bank ACE

  • The lounge visits are gated on ₹50,000 of spend in the previous 3 calendar months — new cards get the issuance month plus three free, then the gate bites
  • The 5% and 4% categories share ONE ₹500-per-statement ceiling, so the accelerators cap out around ₹6,000 a year
  • The 5% exists only through Google Pay on Android; utility bills paid anywhere else have earned zero since 20 Apr 2024

4 more on its page

Common questions 5 answered

Which is better, HDFC Bank Millennia or Axis Bank ACE?

The better card changes with your spend: Axis Bank ACE ahead at ₹25,000, HDFC Bank Millennia ahead at ₹50,000, Axis Bank ACE ahead from ₹75,000 to ₹5 lakh a month. At ₹75,000 a month the gap is mostly what each card earns on your spend: Axis Bank ACE returns ₹12,700 a year in rewards to HDFC Bank Millennia's ₹12,500. On the rows below, HDFC Bank Millennia has no clear edge over Axis Bank ACE.

HDFC Bank Millennia or Axis Bank ACE: which is worth more at ₹3 lakh a month?

Axis Bank ACE beats HDFC Bank Millennia by ₹34,800 a year at ₹3 lakh a month. Both figures are a year's rewards and bonuses on an everyday spending mix, after the fee.

Which costs less to get, HDFC Bank Millennia or Axis Bank ACE?

Axis Bank ACE: ₹499/yr against ₹1,000/yr. HDFC Bank Millennia waives its fee if you spend ₹1,00,000 a year; Axis Bank ACE waives its fee if you spend ₹2,00,000 a year.

Which gets you into more airport lounges, HDFC Bank Millennia or Axis Bank ACE?

Axis Bank ACE: 12 of the 792 lounges we track, against 0 for HDFC Bank Millennia. Visit limits and guest charges differ by card; each card's page lists them.

How current is this comparison?

HDFC Bank Millennia was last checked against its bank's own documents on 24 Oct 2026, Axis Bank ACE on 26 Oct 2026. Every figure here is worked out again from those records each time the site is built, so a change to either card shows up the day we log it.

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Sources

HDFC Bank Millennia was last checked against its bank's own documents on 24 Oct 2026, Axis Bank ACE on 26 Oct 2026. Every fact above comes from these 11 documents; the banks' own are marked official. A fact a bank does not publish shows as "not published", never as zero.

The documents 11 sources
  1. Official HDFC Bank's Millennia product page — the 5%/1% CashBack structure, the quarterly milestone, and the redemption grid (₹1 statement, ₹0.30 SmartBuy, ₹0.30 Airmiles) read
  2. Official Millennia product T&C, published 20 July 2026 — the 1,000-CashPoint monthly cap on both earn buckets, and "1 CashPoint = ₹1 for Millennia Credit Card Holders" read
  3. Official "HDFC Bank Millennia Credit Card — Lounge Access", published 6 Feb 2026: the lounge is one option on the quarterly voucher list, and the old 2-a-quarter quota is gone read
  4. Official HDFC Bank personal-cards MITC, version 4.15 dated October 2026 — Millennia at ₹1 lakh annual-spend waiver, 3.5% forex, and lounge access "via vouchers" read
  5. Official Millennia fees & charges page — "Joining/renewal membership fee: ₹1,000 plus applicable taxes", waived on ₹1 lakh of spend before the renewal date read
  6. Official Revision of Axis Bank Credit Card Terms and Conditions — the bank-wide notice: DCC 1.5% to 3.5%, and gift cards, Bridge Fees, Road Fees and Tolls out of rewards, from 28 Aug 2026 read
  7. Official Axis Bank ACE product page — the 5%/4%/1.5% cashback grid, four lounge visits a year, and the fee table with ₹499 joining read
  8. Official ACE cashback Terms & Conditions — the ₹500-per-statement ceiling shared by the 5% and 4% categories, and the exclusion list read
  9. Official Axis Bank Domestic Airport Lounge Access Program — ACE is a Set A card at 4 complimentary visits a year, gated on ₹50,000 of spend in the previous 3 months read
  10. Official Axis Bank Key Fact Sheet, last updated 8 Oct 2026 — ACE joining ₹499 and annual ₹499, waived at ₹2,00,000 of preceding-year spend read
  11. Official Axis Travel EDGE Program eligible cards — ACE does not appear, so there is no transfer route out of this card read

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