Axis Primus, a new Super Premium credit card with ₹1.8L fee

[SubhankarSubhankar is verified member.]

Axis Bank has listed a Super Premium card, silently to their updated MITC, and they’re calling it Axis Primus.


What do we know as of now?

1. 1.8L fee
2. No DCC markup
3. No Forex markup
4. No cash withdrawals fee
5. Lowest finance charges, starting from 1%
6. No over limit fee
7. Add-on card: first one is free, from next one ₹15,000
8. No 1% rent payment fee

Except these as there’s no mention of any exclusion in reward points earning and milestone exclusion. So we can assume, there’s no exclusion. Good old Axis days for a price?


Added the MITC doc in the attachment.


What do you think of this card? Surely it’s not going to be easily available like other Axis cards in golden days, but does ₹1.8L fee justified as of now? Let us know below

 

[drsel]

Har bhai, itna sensible baat na karo, warna logo ko lagega we shilling for Magnus.
Har comment pe likho, Amex Zindabad.
Amex Zindabad tha, Zindabad hai aur Zindabad rahega.

No commission, no incentive for promoting Axis cards

 

[Anupama_Jha]

Primus base return is 5% with no MCC exclusions.
1 mile/100 = 5 partner points/100 spend
(Atlas/Olympus 4% return with 7/8 category exclusions)

On quarterly spend of 30,00,001 (no MCC exclusions)
get 25000 miles = 125000 partner points.

So 5.00 + 4.16 = 9.16% return on spends of 30,00,001 per quarter

Magnus Burgundy gives a much better 12.62% return on the same 10 lacs/month spend, but with 7 category exclusions

 

[sonuyos]

No commission, no incentive for promoting Axis cards

The day Axis will start a promo like Amex, either axis will go bankrupt or poverty in India will get over.

 

[drsel]

View attachment 62784

Thank you ma'am
You are an Ace, Kindly boost my reputation score by 5 points

 

[drsel]

The day Axis will start a promo like Amex, either axis will go bankrupt or poverty in India will get over.

Axis will go bankrupt, poverty in India will not get over.
Recently the share price crashed even though the market is so bullish, because the results are bad

 

[sonuyos]

Thank you sir
You are an Ace, Kindly boost my reputation score by 5 points

Madam*

Also me too pl0x.

 

[sonuyos]

Axis will go bankrupt, poverty in India will not get over.
Recently the share price crashed even though the market is so bullish, because the results are bad

Still still growing and profitable tho.

Should be fine in long run.

 

[archit120]

Primus base return is 5% with no MCC exclusions.
1 mile/100 = 5 partner points/100 spend
(Atlas/Olympus 4% return with 7/8 category exclusions)

On quarterly spend of 30,00,001 (no MCC exclusions)
get 25000 miles = 125000 partner points.

So 5.00 + 4.16 = 9.16% return on spends of 30,00,001 per quarter

Magnus Burgundy gives a much better 12.62% return on the same 10 lacs/month spend, but with 7 category exclusions

The caps on Magnus burgundy er redemptions are too low for that return% to be useful for too long. If primus doesn't have then it might still be better

 

[drsel]

The caps on Magnus burgundy er redemptions are too low for that return% to be useful for too long. If primus doesn't have then it might still be better

Very high caps for Primus, and it should well be

 

[sonuyos]

The caps on Magnus burgundy er redemptions are too low for that return% to be useful for too long. If primus doesn't have then it might still be better

If you can afford primus, you can surely afford 2 magnus burgs.

 

[Dragon_slayer]

If they change joining bonus from 25K miles to 50K miles, then only it would make sense to get the card. Atleast for 1st year.

 

[sonuyos]

If they change joining bonus from 25K miles to 50K miles, then only it would make sense to get the card. Atleast for 1st year.

Highly doubt they will

And even then it ain't worth it.

 

[BVCBVC is verified member.]

If they change joining bonus from 25K miles to 50K miles, then only it would make sense to get the card. Atleast for 1st year.

This card will be exclusive and Axis won’t approve it if eligible criteria is not met.

 

[Dragon_slayer]

This card will be exclusive and Axis won’t approve it if eligible criteria is not met.

And what would be the criteria?

 

[Dragon_slayer]

Highly doubt they will

And even then it ain't worth it.

Lets see. When Magnus came initially then it was also quite useless card until things changed

 

[BVCBVC is verified member.]

And what would be the criteria?

As it’s replacement for Citi Ultima, it should be invite only card for Ultra HNI migrated from Citi and existing Ultra HNI with Axis Bank.

 

[drsel]

If you can afford primus, you can surely afford 2 magnus burgs.

No one can get 2 Magnus Burgundy cards

 

[drsel]

If they change joining bonus from 25K miles to 50K miles, then only it would make sense to get the card. Atleast for 1st year.

Axis Bank Primus Credit Card Review July 2024

Detailed review of the super-premium Primus Credit Card by Axis Bank. Check all the features, fees, and benefits provided along with the card.

cardinsider.com

Joining fee 212400 gets 25k x 5 = 125000 points
So Rs. 87400 loss on payment of joining fee 212400

Renewal fee 212400 gets 15k x 5 = 75000 points
So Rs. 137400 loss on payment of renewal fee 212400.

They will not improve the joining bonus to 50k x 5 = 250000, it would be loss making for Axis.
Even the renewal fee of 212400 gives only 75000 return to make it more profitable for Axis.

No doubt Magnus Burgundy card is much better than Primus, both in terms of joining/renewal fee and returns--

MB joining/renewal fee 35,400
Return 12.62% on 10 lacs spend per month (7 excluded categories)
Vs
Primus joining/renewal fee 212,400
Return 9.16% on 30,00,001 spend per quarter (Zero excluded categories).
Spending more than this slightly reduces the return, spending less than this drastically reduces the return

 

[Wealth is my birth right!]

Primus base return is 5% with no MCC exclusions.
1 mile/100 = 5 partner points/100 spend
(Atlas/Olympus 4% return with 7/8 category exclusions)

On quarterly spend of 30,00,001 (no MCC exclusions)
get 25000 miles = 125000 partner points.

So 5.00 + 4.16 = 9.16% return on spends of 30,00,001 per quarter

Magnus Burgundy gives a much better 12.62% return on the same 10 lacs/month spend, but with 7 category exclusions

Whats the 7 for magnus card?
Gold
Insurance
Utility
What else
TIA

 

[drsel]

Whats the 7 for magnus card?
Gold
Insurance
Utility
What else
TIA

Wallet load, EMI, balance transfer, cash withdrawal, etc
Fuel
Rent over 50000/month
Government & taxes
Utilities
Insurance
Gold & jewellery