Axis Bank has launched the Burgundy Private program for ultra rich individuals with high total relationship value (TRV). As part of this program, Axis Bank has launched Burgundy Private Credit Card which focuses more on lifestyle and hospitality privileges than rewards. Zero forex markup fee, no cash withdrawal and interest charges, airport lounge access for guests are some of the not-so-common benefits provided by this credit card.
Axis Bank Burgundy Private Credit Card comes in metal form factor with minimalistic design which gives it a premium look. This card is available on Visa Infinite platform and is enabled for contact-less transactions.
Eligibility Criteria
Burgundy Private program targets Ultra HNIs and hence eligibility criteria has been set accordingly.
- Total Relationship Value: Rs. 5 Crore or more
- Burgundy Private Savings Account
Fees
Axis Bank Burgundy Private Credit Card comes with following fees:
- Joining Fee: Nil
- Annual Fee
- With Burgundy Private Savings Account: Nil
- Without Burgundy Private Savings Account: Rs. 50,000 + GST
There is no mention of welcome and renewal benefits which is little strange.
Features
Axis Bank Burgundy Private Credit Card focuses more on convenience than rewards. Some of the prominent benefits include no forex mark-up charges, no cash withdrawal and interest charges, airport lounge access for guests, golf privilege and meet & greet services. Let’s explore the benefits provided by this card in detail.
Reward Points
- 1 reward point = Rs. 0.20
-
15 reward points per Rs. 200 spent, 1.5% reward rate
1.5% reward rate is little disappointing, but I believe, the targeted segment doesn’t care much about reward points.
Transaction Benefits
- No cash withdrawal charges or interest levied till payment due date
- No forex mark-up on international transactions
- Flexibility to increase credit limit during foreign travel
No forex mark-up on international transactions is first of it’s kind in India and will benefit immensely to those who travel outside India a lot.
Airport Lounge Access
- Primary and add-on card members
- Domestic: Unlimited
- International: Unlimited using Priority Pass
- Guests
- Domestic: 12 on primary card
- International: 12 on primary Priority Pass
12 domestic and 12 international airport lounge access for guests is a really great benefit.
Golf Program
- 50 complimentary rounds of golf per year
That’s a pretty generous number and should suffice for most.
Movie Benefits
- Buy 1 Get 1 on movie tickets
- Limit: 5 per month
- Maximum Cap on ticket value: Rs. 500
- Buy 1 Get 1 on non-movie tickets
- Limit: 5 per month
- Maximum Cap on ticket value: Rs. 1,000
Movie Benefits on this card should suffice most movie buffs and inclusion of non-movie tickets is a welcome move.
Dining Benefits
- Complimentary EazyDiner Prime membership
- Taj Epicure membership
- 20% savings at over 4000+ restaurants across India using Dining Dilights
The dining benefits are okayish and nothing great here. Addition of DineOut Plus and Zomato Gold should have definitely helped here.
Hotel Benefits
- 15% to 50% off at Oberoi Hotels
- 20% off at Postcard Hotels
- Club Marriott (APAC) membership
- Accor Plus (APAC) membership
The hotel benefits are little underwhelming and I would have expected addition of more hotel membership programs.
Airport Benefits
- 8 complimentary airport meet and assist services per year
- 25% off on international 30% off on domestic transfers via concierge
Complimentary meet and assist services are really a great addition and can come in handy when you’re traveling with huge baggage.
Concierge
24/7 Concierge Services for following requests:
- Flight bookings
- Table reservations
- Gift deliveries
- Styling and shopping
- Exclusive dining experiences
- Global travel and medical assistance during international travel
Insurance
- Travel insurance
- Air accident cover of Rs. 4.5 Crore
- Lost card liability
- Purchase protection.
Other Benefits
- Concessions on health and wellness coaching at Weljii
- Discounts at select preventive healthcare/ pathology test centers
- Dr. Lal Pathlabs
- Metropolis
- SRL Diagnostics
Drawbacks
Though Axis Bank Burgundy Private Credit Card comes with all bells and whistles, it lacks in certain aspects.
- Low reward rate: The reward rate of 1.5% is really low and many entry level cards provide this rate. I wish Axis Bank should have come up with a reward rate of at least 3% to make is even more attractive.
- Limited hotel memberships: Axis Bank Burgundy Private Credit Card provides membership only to Club Marriott and Accor Plus which is quite less. I wish this card should have provide memberships and better status to other hotels too.
Verdict
The main USP of this card is zero forex mark-up and no cash withdrawal and interest charges. This means, Axis Bank Burgundy Private Credit Card can act as a Forex Card, Debit Card along with Credit Card. This is a huge convenience factor and saves one from headache of maintaining multiple cards especially for those who travel internationally a lot.
Though it’s a good attempt by Axis Bank, I personally feel, they could have done better, especially in reward rate segment. It can be a good secondary card, but not the primary one. For individuals in this segment, I would suggest them to checkout Amex Centurion or Citi Ultima for their primary driver.
What do you think of new Axis Bank Burgundy Private Credit Card? Let me know in comments below.
