Axis Bank and Visa launched the ultra-luxury credit card, Primus, specially tailored for high-net-worth individuals. The newly launched credit card of Axis Bank has increased the speculation in the market, let’s see what Primus has stored for HNIs.
Topics
Axis Primus Credit Card
Axis Bank partnered with Visa, the global leader in digital payments to release a credit card especially tailored for the elites of India. The bank launched the card in the presence of a Group & executive Head of Axis Bank Mr Arjun Chowdhry and Sandeep Ghosh, Group Country Manager, Visa India & South Asia on 12 August 2024.
The newly launched premium Card, Primus will be offered to only selected Axis Bank customers with ultra-high net worth up to $30 million by invitation. According to the press release, through PRIMUS, the elite class of India will get access to the Visa Infinite Privilege proposition, unique privileges like lounge access, rewards, globally accepted benefits, and elevated experience.
With the new premium card, Axis Bank aimed to serve the unique and complex banking needs of ultra-high-net-worth individuals (UHNWI) and provide them with specialized services. Axis Bank launched this card when the Indian economy is rising and it is estimated that in the next five years, the rate of UHNWI will rise to 58.4%.
Currently, the Axis Bank and Visa Primus Credit cards have been introduced to New Delhi and Mumbai clients through an elegant evening at Axis Bank Primus Soiree.
Axis Primus Credit Card Joining and Annual Fee
The Axis Primus Credit Card is one of the most expensive credit cards in the Indian market with high annual fees and renewal fees, however, the extraordinary benefits of the card make it worth the high costs. The Axis Bank customers will be charged with following joining and annual fees for the Primus credit card:
- Joining Fee: ₹5 Lakh + GST (comes with 1 primary and 1 add-on)
- Add-on in the Primus: ₹25k +GST
- Annual Fee for the Primus: ₹3 lakhs +GST (comes with 1 Primary and 1 Add on)
- Add-on on Card renewal: ₹25k +GST
The Axis Bank customers will get the joining/welcome benefits, such as an ITC gift voucher worth ₹40,000 or 25,000 Axis EDGE Miles which equals 125k air miles.
Axis Primus Credit Card Charges
As mentioned earlier, Axis Bank has designed this Card exclusively for HNIs customers, hence the Bank has featured it with flexible card charges that will attract high-net-worth individuals. The Axis Bank customers who will get the invitation for the PRIMUS card can check the card charges below:
- Interest rate: 12.68% per annum or 1% per month
- Late payment fee: Nil
- Reward Redemption fee: Nil
- Fuel Surcharge: 1% when the transaction amount is between ₹400 and ₹1000
- Foreign currency markup: Nil
- Dynamic currency conversion fee: Nil
- Cash Withdrawal fee: Nil
- Forex Markup Fees: 0%
Axis Primus Credit Card Benefits
The Axis Primus Credit cards unlock many extraordinary and world-class benefits for the ultra-wealthy people of India. The Axis Bank Customers can catch the details of all the benefits available with the Axis Bank Primus Credit cards below:
- Travel benefits:
- Primus offers 15% savings on airfare booking for individuals with 10% off on flight booking from the platform.
- The card offers global data roaming and car rental offers with 15% discounts.
- The cardholder can get complimentary offers for their companion on First/business class bookings. The complimentary companion’s airfare is unlimited for the cardholders, so they can easily get the best price on their bookings.
- The cardholders get exclusive access to travel itineraries, like ski vacations, flying safaris, exclusive access to private jets, private terminals, and so on to present the best traveling experience to the customers.
- Lounge Access: With a Primus card, the cardholder gets unlimited domestic Lounge access and 12 guest visits in a year for International and domestic each.
- Hotel Benefits: Primus cardholders receive the following hotel benefits:
- VIP guests and automatic room upgrade
- 1-night complimentary stay at over 900 luxurious hotels worldwide
- Early check-in and late check-out service
- Vouchers for food and beverages
- Complimentary breakfast for two
- The card grants you access to over 3000 properties globally with a 15% discount and superior rooms.
- Best Dining Experience:
- The card grants access to over 10,000 global restaurants at the world’s top 50 Michelin-starred restaurants to unlock the best dining experience at last-minute reservations as well,
- The cardholders will get a preference for prime tables with complimentary drinks and & discounts
- Best Memberships:
- The cardholders get the membership of Bloomberg and Taj Epicure with the Primus Card automatically to unlock the enriching experience.
Other than that, the Axis Bank Primus card offers unlimited meet & greet services and lost card liability up to ₹25k Lank insurance in case you lose your luggage during travel.
Reward System of Axis Bank Primus Credit Card
The Axis Bank Primus cardholders will get rewards for every transaction category, utility bills, rent payments, insurance premiums, and so on. Following is the reward system of the Axis Primus card:
- Reward system:
- The Primus cardholder gains 1 EDGE mile per ₹100 on all spends.
- The cardholder can redeem the 1 EDGE mile as ₹1, the 1 EDGE mile is equal to 5 partner points
- Milestone benefits: The Primus Cardholders can get milestone benefits on a quarterly, such as:
- Quarterly spends of ₹20 lakh to ₹30 lakh customers are warded with 15k EDGE miles
- Quarterly spends of ₹30 lakh to ₹50 lakh customers are warded with 25k EDGE miles
- Quarterly spends of over ₹50 lakh customers are warded with 35k EDGE miles
The Axis Bank Primus Credit card allows miles transfer with global partners, such as Air Canada, Air Asia, Accor, Air Vistara, Etihad Airways, KLM, Ethiopian Airlines, Air India, Japan Airlines, Singapore Airlines, SpiceJet, United Airlines, IHG, Qatar Airways, ITC, Marriott International Airways, Thai Airways, Wyndham Hotels Resorts, Turkish Airlines, and so on.
The Axis Primus credit card is invite-only, and for now, the Bank has introduced the card to the selected New Delhi and Mumbai clients, It is suitable for ultra-wealthy people.
Go to GMR Homepage To Get Relevant Topics.