"Are Super Premium cards really worth the fee they come with?"
"That's a huge fee to pay upfront to get such card"
"How I can value out the fee I am paying for a Super Premium card?"
"Super Premium cards are not as good as cash back cards as I am getting all the value back as cash"
I hope everyone of you are familiar with these thoughts or statements. Even if you hold one, you at least once gave a thought like this. Like that I'm not an exception, these thought came to my mind as well before opting for my first ever Super Premium card which is Axis Reserve. I do hold other Super Premium cards like SBI Aurum, SCB Ultimate etc which I got later on but in this post I will just discuss about how one can value out Axis Reserve.
I've chosen this card to discuss because it comes with a fee relatively higher than most of the cards available in India and in terms of Price Point it comes to the par of the mighty AMEX Platinum Charge card and ridiculously priced IndusInd Bank's Super Premium credit card which are Indulge, Crest, Celesta, Pioneer Heritage Metal as well as loved by many Citi Prestige. Though You can find all the feature and perks of Axis Reserve card's at the specially designed page by Axis Bank. So when evaluating the value of the card, let's start with the fee it comes with. So, for the people who don't know, let's hold the breathe, it's 50,000 INR + GST which is 59,000 INR. Ridiculous? Let's see!
Now I'll just point out the features which most of the people who hold this card can value out, adding to that, I'm COMPLETELY keeping the GOLF benefits out of the equation as even most of the people who hold this card will end up not using it.
The Highlighted Features:
1. Airport Transfers: So this card comes with Chauffeured Airport Transfers in cars like Merc E Class, BMW 5 Series, Audi A4 which is limited to Delhi, NCR, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata. For rest of the airports transfers gets cars like Swift Desire, Renault Logan, Toyota Etios. The value per transfer in terms of Luxury Airport Transfers can go upto 8,000 INR. There are 4 such transfers get offered by Axis. For average pricing, I'm keeping per transfers as 6,000 INR and people who hold this card can easily use this feature and can value out at max.
Total Value: 24,000 INR
2. Airport Concierge Service: It's the service commonly known as Airport Meet and Greet service. It helps you to skip long queue at airport and sometimes also provide the transfer with buggy at airport. Generally it costs around 4,000 to 8,000 INR. Axis Provide 8 such service, so on an average I can assume that a person can avail it at least 5 times in a year and the service cost is 5,000 INR.
Total Value: 25,000 INR
3. Joining/Renewal Bonus: Axis gives 50,000 edge reward points as joining/renewal benefit. It is even applicable if you hit the fee waiver spending milestone which is 25 Lakh INR.
Total Value: 10,000 INR
4. Club Marriott Membership:
Card Benefits:
i) Up to a 20% & 15% off on the food and beverage bill at the restaurants for up to a maximum of 10 guests. Most of the Marriott Property will charge on an average 2,000 INR and guessing once in a year a person is availing the 20% discount and going with a group of 5 people. So on a bill of 10,000 INR, the person is saving 2,000 INR.
ii) Up to a 20% off on the Best Available Rates on rooms at participating Marriott hotels in India and on Weekend Rates in Asia Pacific. Considering room rent is 7,000 INR and the person is staying for 3 days, thus on a 21,000 INR bill, there'd be a saving of 4,200 INR.
Food and Beverage Certificates' Benefits:
1 certificate to avail a 50% off on the food bill and a 30% off on the total beverage bill for up to a maximum of 10 guests at participating Marriott hotels in India. Considering the same scenario as above, 5 guests with food bills of 2,000 INR each and beverage bill of 1,000 INR each, after the discounts the saving will be 6,500 INR on a bill of 15,000 INR.
Accommodation Certificates' Benefits:
i) 1 certificate for an upgrade to the next category of rooms on Best Available Rate for a maximum of 2 nights stay. Can save you at minimum 8,000 INR at category 4 properties of Marriott hotels in India
ii) 3 certificates offering a 30% off on accommodation on the Best Available Rate on the base category of rooms, valid for a stay of a maximum of 2 consecutive nights per certificate. Assuming, one is availing 2 out of 3 certificates which can save approximately 8,400 INR on a bill of 28,000 INR.
Not going with the Spa benefit which provides 20% discount as better offers can be availed.
Total Value: 29,100
Note: Most of the people will end up not using most of the benefits except F&B benefits as better value can be earned through Marriott Bonvoy Gold membership which is available through AMEX Platinum Charge card or AMEX Centurion card. If you transfer points, it'd be better value. Though in near future it can change as Marriott is going to move to dynamic pricing for their properties through points, soon.
5. Accor Plus: Axis offers automatic enrolment to the Silver Tier membership of Accor Plus which comes with various benefits and which is generally achievable by spending 800 € which is roughly around 70,000 INR. Let's talk about the benefits
Accommodation:
i) Complementary stay of 1 night at all the participating hotels. The room category is Deluxe. It can easily save on an average 7,000 INR
ii) Member only rate with 10% discount even at Red Hot rooms which already goes with 40-60% discount. Though not counting it.
Dining:
Considering food bill per person is 1500 INR
i) 2 people dining 50% food discount. 1500 INR discount on 3000 INR bill
ii) 3 people dining 33% food discount. 1485 INR discount on 4500 INR bill
iii) 4 people dining 25% food discount and so on up to a minimum 10% discount. 1500 discount on 6000 INR bill
iv) 25% food discount when dining alone. 375 INR discount on 1500 INR bill
v) Flat 15% off on beverages (Alcoholic and Non Alcoholic) in Asia. 300 INR discount on 2000 INR bill
If it's considered that one is availing these benefits at least once a year, which will give approximately 5000 INR value back.
Total Value: 12,000 INR
Joining Benefits Through Certificates:
I'm sharing the joining benefits I got which is specially crafted for the city the card holder belongs to and thus comes with additional certificates.
i) Lunch Buffet All India for two (2 Certificates) = 6000 INR
ii) Birthday Cake (1kg): 1500 INR
iii) Novotel Kolkata Lunch or Dinner Buffet for two : 3000 INR
iv) Ibis Kolkata Lunch or Dinner Buffet for two: 3000 INR
v) Bottle of Red or White Wine at table of four at Novotel Kolkata: 6500 INR
vi) 500 INR off at 1000 INR bakery product purchase from Delice, Novotel Kolkata: 500 INR
vii) 50% discount at group dining of 6 - 12 people, Novotel Kolkata: Considering 6 people and bill of 9000 INR, saving is 4500 INR
viii) Complementary buffet breakfast for two when staying at Member's rate at Novotel Kolkata (2 Certificates): 6000 INR
ix) 40% discount on food bill of 4-10 people across India and Sri Lanka: considering 6 people and 1500 INR per people, 3,600 INR
x) 500 INR off on minimum 2000 INR food bill across India: 500 INR
xi) 40 % discount on food bill of 6 and more people as well as buy two get two starters at Novotel Goa Candolim or Novotel Goa Resort and Spa: 4400 INR
xii) 50% discount on food bill for 10-15 group of people at Ibis Kolkata (2 Certificates): 10 people, 1500 INR per person cost, saves 15000 INR
xii) Next Room Category upgrade (no capping on number of days of stays): Considering staying for 5 days, saves 15000 INR
xiii) 3999 + Tax for Standard Room for 2 adults and 1 child for one night including Breakfast buffet + Lunch or Dinner buffet at Ibis Kolkata (2 Certificates): Though not saving at all at room rate but those buffet can pull 6000 INR value, considering used 1 out of 2 certificates.
Total Value: 75,500 INR
Note: Even if I exclude all the benefits of AccorPlus, and just count the joining benefits, it compensate and add more value over the joining fee of Reserve.
6. ITC Culinaire: Though it comes with various certificates, I'm listing the useful ones. It comes at a cost of 12000 INR + Tax.
i) 50% on food & beverage for maximum of 4 people: Saving max 4000 X 2 Certificates= 8000 INR
ii) 20% on food & beverage for maximum of 4 people: Saving max 1600 X 2 Certificates = 3200 INR
iii) Third Night Complimentary stay: Considering you're staying at ITC One category rooms, you save 15000 INR
iv) Next Category Room upgrade includes suits for 3 consecutive nights: which can value out almost 60,000 INR
Total Value: 85,200 INR
Note: Most of the people will end up only using the F&B Certificates. Adding to that if you pay for the membership, you get 1 night 2 days complimentary stay at standard room for 2 includes buffet breakfast.
7. Book My Show Offer: BOGO 500 off on movie and 1000 off on non-movie tickets both 5 times in a month. Considering one is availing movie benefit 10 times in a year and non movie benefit 5 times in a year.
Total Value: 10000 INR
8. Airport Lounge: Reserve offers unlimited international lounge access with 12 complimentary guest visits. Flying international twice a year with group of 4 and domestic with group of 4. Every visit counts as 2000 INR per person.
Total Value: 16000 INR
Bottomline: If the joining only perks are not considered it's a value out of 2,11,300 INR. As a joining perk there's additional 75,500 INR value you can draw from this card on very first year. This value is without considering the reduced forex markup of 1.5%, various other benefits like: Oberoi Benefits which include offer like 50% off on suites, 15% off at Postcard Hotels, complementary annual membership of EazyDiner Prime, Welji benefits, Second Medical opinion from World's renowned Hospitals , discounted rate at Dr. Lal Pathlabs & Metropolis and also a hidden gem like Global Travel and Medical Assistance.
Though most of the benefits will not be availed by people holding this card, I'm going to do a strict valuation of it, without the Joining Benefits.
Let's check on the parameters being considered:
1. Airport Transfers: 24,000 INR
2. Airport Concierge: 25,000 INR
3. Joining/Renewal benefit of 50,000 edge points: 10,000 INR
4. Club Marriott: Considering F&B Certificate and Accommodation Certificate (Point ii): 14,900 INR
5. Accor Plus (Without Joining Benefits): Considering 1 night free stay and Dining (Point i): 8,500 INR
6. ITC Culinaire: Considering F&B benefits only (Point i & ii): 11,200 INR
7. BMS BOGO offer: 10,000 INR
8. Airport Lounge: 16,000 INR
Total Valuation: 1,19,600 INR
So even after paying 59,000 upfront, you'll still get 60,600 INR extra benefits. This would be the same even if you pay the renewal fee every year considering you're not hitting the 25L fee waiver milestone as all these memberships keep renewing with your card renewal till you hold the cards.
Now again this card is not for all, but if you have these usage and can avail these memberships, go ahead and grab it!
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