Head-to-head

HDFC Millennia Credit Card vs Axis Bank ACE Credit Card

The ₹1,000-class everyday cashback decision is a ceiling: Millennia's 5% is capped at ₹20,000 of partner-brand spend a month, while ACE pays 1.5% on everything with no cap — so a month concentrated at the ten brands goes to Millennia, and a broad one goes to ACE.

HDFC Millennia Credit Card

HDFC Bank

4.2

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Axis Bank ACE Credit Card

Axis Bank

4.5

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Our verdict

Provisional comparison: some conditions or reward ceilings still need verification. Treat the figures as examples, not a definitive winner.

On estimated renewal-year value (rewards + milestones − applicable fee including GST), the HDFC Millennia Credit Card wins 2 of our 3 modelled spending patterns. The Axis Bank ACE Credit Card takes the rest — so the right answer still depends on your mix. For a personal answer, put your real numbers into the recommender.

Net annual value, three ways

Ordinary eligible purchases, with no specific merchant channel assumed. Fees include GST after modelled waivers; only modelled milestones are included. Unsupported UPI earns zero. Welcome bonuses, transaction rounding and redemption costs are excluded. Methodology

Spending pattern	HDFC Millennia Credit Card	Axis Bank ACE Credit Card	Higher estimate
Everyday spender₹35,000/mo	₹3,120/yr	₹3,960/yr	Axis Bank ACE
Online-first shopper₹55,000/mo	₹9,640/yr	₹7,560/yr	HDFC Millennia Credit
Frequent traveller₹1,10,000/mo	₹14,440/yr	₹14,220/yr	HDFC Millennia Credit

Side by side

	HDFC Millennia Credit Card	Axis Bank ACE Credit Card
Joining fee	₹1,000	₹499
Annual fee	₹1,000	₹499
Fee waiver	Renewal fee waived on annual spends of ₹1,00,000 or more	Renewal fee waived only when eligible annual spending exceeds ₹2 lakh; rent and wallet loads excluded.
Top reward rate	5%	5%
Base reward rate	1%	1.5%
Welcome bonus value	₹1,000	—
Forex markup	3.5%	3.5%
Lounge access	1/qtr domestic	1/qtr domestic
Min salaried income	₹35,000/mo	—
Our rating	4.2 / 5	4.5 / 5

Verified 2026-09-10 (HDFC Millennia) · 2026-09-10 (Axis Bank). Confirm current terms on the issuer's site.

Frequently asked

Is the HDFC Millennia Credit Card better than the Axis Bank ACE Credit Card?

For most of the spending patterns we model, the HDFC Millennia Credit Card comes out ahead on net annual value (rewards minus fees). The Axis Bank ACE Credit Card still wins for some profiles — check the persona table for the pattern closest to yours.

Which card has the lower annual fee?

Axis Bank ACE Credit Card has the lower annual fee (₹499 vs ₹1,000), before any waiver conditions.

Can I hold both cards?

Yes — banks assess each application independently, and pairing complementary cards is a common strategy. Mind the combined fees, your credit utilisation, and space out applications so multiple hard enquiries don't dent your score.

How is the net value calculated?

We estimate eligible ordinary rewards and modelled milestones, then subtract the renewal fee including GST after any modelled qualifying-spend waiver. Welcome bonuses and unconfirmed conditions are excluded. No merchant channel is assumed. Incomplete rules or caps make a comparison provisional; see the methodology.

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