Credit cards are distributed in different categories to cater to the needs of individuals from different classes. Everyone has a different living style; some people live in contempt whereas others might live in abundance. Anyhow a person’s lifestyle depicts their expenses and income, making it necessary to understand their financial stance. For individuals running towards high-end or luxurious living, cards like Axis Bank Magnus Credit Card and ICICI Bank Emerald Credit Card are great options. Although both the cards give each other tough competition, it is nonetheless to say that owning one of them would enhance your purchasing power.
Since the Magnus and Emeralde are both super-premium offerings by two top-notch banks it is regardless to say that the features and benefits these cards hold excel in every field. Hence, this makes it important to completely understand and use such a card. Having a thorough knowledge of your card’s advantages and the parameters it follows will only help enhance the benefits. Looking at such cards you can compare both their qualities and choose which one is more suitable for your taste.
Axis Bank Magnus Credit Card
Currently, the most premium offering from the bank itself, Axis Bank Magnus Credit Card is a sought-after card. This card is very suitable for high-income individuals to enjoy the privileges of a luxurious lifestyle. This card incorporates benefits revolving around movies, travel, dining, and shopping, in other words, all the categories. There are many features in this card which can be noted.
Features and Benefits :
You can choose your gift voucher worth Rs. 12,500 from Luxe, Postcard Hotels, or Yatra.
- 12 Axis EDGE Rewards points for every 200 INR spent for up to Rs. 1.5 Lakhs in a month
- After spending Rs. 1.5 Lakhs, you get 35 EDGE RPs on every Rs. 200 spent.
- 60 EDGE RPs for every Rs. 200 spent on Travel Edge Porta up to Rs. 2 Lakhs per month.
- Earn 35 on every Rs. 200 spent over Rs. 2 lakhs.
- 5X RPs on purchases from the brands present at Axis Banks Gran Deals website
- 5X RPs along with a great discount on Gyfts
- The reward points can be redeemed or transferred to the Partner Airlines/ Hotel Reward Program through the EDGE Rewards portal.
- 1 EDGE RP = Re. 0.20
- 8 complimentary end-to-end VIP services at the airport i.e., assistance throughout the airport which includes your check-in, security check, immigration process, etc.
- Unlimited complimentary domestic lounge access across the country.
- Unlimited complimentary international lounge access.
- Additional 8 guest visits per year with Priority Pass Card across the globe.
Movie and Dining :
- BookMyShow gives the special benefit of buying one and get up to Rs. 500 off on your next movie/non-movie ticket and max capped at 5 times in a month
- 20% discount with over 4000 restaurants with the Axis Bank Dining Delights program.
Milestone Benefit :
- Clain 25,000 bonus EDGE reward points upon spending more than Rs.1 lakh in a calendar month.
- All your spending except for wallet reloads and insurance will be considered under your milestone spend calculation.
Spend Based Waiver :
The annual or renewal fee can be waived upon spending a minimum of 15 Lakh INR in a previous year.
1% fuel surcharge waiver at all fuel stations.
Fees and Charges :
- Joining fee / Annual Fee = Rs. 12,500 + GST
- Interest rate = 3.0% per month and 42.58% on an annually
- Foreign currency markup fee = 2% on the total transacted amount
The Axis Bank Magnus credit card gives you unlimited access to domestic and international lounges with end-to-end VIP benefits. From a low forex markup fee and interest rates to the spend-based waiver, a super-premium card with this many benefits is surely worth it.
ICICI Bank Emeralde Credit Card
The ICICI Bank Emeralde Credit Card is also among the most premium cards offered by ICICI bank. This is a perfect card for high-net-worth individuals who are frequent in their travels. This card has benefits like complimentary airport lounge access, concierge services, great rewards and much more. Ther are many other features of such a card which are mentioned below.
Feature and Benefits
- 4 RPs upon each Rs. 100 spent on all retail purchases except few.
- 1 RP on every Rs. 100 spent on selected categories
- Rewards can be redeemed against a variety of options or statement credit
- 1 RP = Re. 0.25
- Under AmEx/MasterCard/Visa lounge and Dreamfolks membership program, you can get complimentary airport lounge access for domestic and international.
- Unlimited complimentary domestic airport spa access.
- No cancellation charges on hotel and flight booking for up to Rs. 12,000 and a maximum of 2 transactions in a year.
Dining and Movies :
- Up to Rs. 750 off on movie from second ticket onwards from BookMyShow at a max of 4 tickets per month.
- 750 off the second movie/non-movie ticket on BookMyShow at a max cap of 4 tickets per month.
- Minimum 15% off on dining bills at well-known partnered restaurants.
- 1 complimentary lesson each month for every Rs. 50,000 spent in previous month
- Maximum 4 rounds in a month can be availed.
Spend Based Waiver :
- Upon spending Rs. 1,00,000 in a month, monthly fee will be reversed
- Annual fee waiver upon spending Rs. 15,00,000 in an anniversary year.
1% fuel surcharge waiver on all fuel stations across the country.
Fees and Charges :
- Joining Fee / Annual Fee = Rs. 1000 + GST for monthly plan and Rs. 12,000 + GST for yearly plan.
- Interest Rae = 3.40% per month or 40.8% annually
- Foreign Currency Markup = 1.5% of the transacted amount
- Reward Redemption Fee = Rs. 99 + GST on every request
The ICICI Bank Emeralde Credit Card is probably one of the best credit cards present in the market today. You can see that the features are diverse and divided in the most productive manner.
Quick Comparison :
Here is a quick comparison between both the cards based on a few key features :
|Axis Bank Magnus Credit Card
|ICICI Bank Emeralde Credit Card
|Foreign Currency Markup
|Movies and Dining
|Spend Based Waiver
The Axis Bank Magnus Credit Card and ICICI Bank Emeralde Credit Card both have their advantages. You can compare both the cards with your daily needs and then compare again the similar benefits. Choosing the right option will take a lot of strategic thinking and comparisons of features one by one but in the end it will be all worth it.