Axis Bank Magnus Credit Card is a super-premium credit card by Axis Bank which has been designed to target the high-net-worth individuals who would like to enjoy luxuries in their lifestyle. This card is a full package of all the premium services that a high-end credit card offers starting from travel and dining to medical and insurance benefits. This credit card offers you reward points on your regular spends through your credit card and higher rewards when you spend on some specific categories. As travel benefits, the cardholders will get unlimited access to the domestic and international airport lounges, and also with this credit card, you get a low foreign currency markup fee of 2% and additionally charges zero cash withdrawal fee. This credit card comes with a joining and renewal fee of Rs. 10,000 which though being on the higher side, is quite justified with respect to the benefits that this credit card.
On the other hand, giving a tough competition to the Axis Bank, HDFC Bank launched the HDFC Bank Diners Club Black Credit Card is also a super luxurious credit card that provides rewards to the cardholders while they spend using their credit card and accelerated reward points on SmartBuy portal. The cardholders will get amazing joining benefits once they pay the joining fee on this credit card. Additionally, the cardholders will also get unlimited access to the domestic and international airport lounges. For all international transactions, a low foreign currency markup fee of 1.99% is charged on all international transactions done using this credit card. The joining and renewal fee of this credit card is quite high, i.e., Rs. 10,000 but is in sync with the features of this credit card.
Both the credit cards i.e., the Axis Bank Magnus Credit Card and the HDFC Bank Diners Club Black Credit Card are very premium credit cards and might look similar to each other in terms of the benefits and features that these credit cards provide but are different from each other as well. Following are the detailed features and benefits of the individual cards to better understand them.
Axis Bank Magnus Credit Card
A top-end credit card by Axis Bank, the Axis Bank Magnus Credit Card has been specially designed for the premium section of the society providing them with unmatched services. The cardholders get exclusive welcome benefits and reward points with this credit card. Also, they get various travel benefits such as unlimited access to domestic and international airport lounges, discounts while staying at Oberoi Hotels, and 24×7 concierge services. You also get discounts while booking movie tickets and dining out at the partnered restaurants. Following are the detailed features and benefits of this credit card-
- As a welcome benefit to this credit card, the cardholder will get one of the following benefits-
– A complimentary domestic flight ticket (Maximum discount capped at Rs. 10,000), or
– A Tata CLiQ voucher worth Rs. 10,000.
- The cardholders will get these benefits every year the membership of the credit card is renewed. The cardholders will have to pick one among the 2 above-mentioned welcome benefits.
- You get 12 Axis EDGE REWARD Points for every Rs. 200 spent with this credit card.
- Accelerated 5x Axis EDGE REWRD Points for every Rs. 200 spent on travel-related spends via Travel Edge.
- All the primary, as well as the secondary credit cardholders, will get unlimited access to the domestic airport lounges using the Axis Bank Magnus Credit Card.
- Unlimited complimentary access to the international airport lounges with the Priority Pass Membership. You will also get 8 additional complimentary visits for the guests every year.
- Up to 15% discount on stays at Oberoi Hotels and a complimentary room upgrade.
- You also get 8 complimentary VIP assistance services for services related to airports including check-in, security check, immigration services, and porter services.
- The cardholders will also get medical concierge services with virtual health assistance which includes specialist appointments, teleconsultations, etc.
- But one movie ticket and get Rs. 500 off on the purchase of the next movie ticket. This offer can be availed 5 times in a month.
- Get 40% discount while dining at over 4,000 partner restaurants.
- The cardholders will get curated experiences from across the world with extraordinary weekends.
- 20% discount at 4,000+ restaurants across India under the Axis Bank Dining Delights program.
- As a milestone benefit, the cardholders will get 25,000 Bonus EDGE REWARD Points on spending Rs. 1 Lakh in a calendar month.
- 1% fuel surcharge waiver for transactions between Rs. 400 and Rs. 4,000 at all fuel stations across India. The maximum waiver is capped at Rs. 400 per month.
- This credit card charges a low foreign currency markup fee of 2% on the transacted amount which is quite low as compared to the existing rate in the market.
- The annual fee of Rs. 10,000 of the Axis Magnus Credit Card can be waived off on spending Rs. 15 Lakhs using this credit card in the previous year.
- The earned Axis EDGE REWARDS Points can be redeemed for instant vouchers, gifts, gadgets, fashion accessories, etc. on the Axis EDGE REWARDS redemption portal.
- For redemption purposes, 1 Edge Reward = Re. 0.20.
HDFC Bank Diners Club Black Credit Card
A super-premium credit card by HDFC Bank, the HDFC Diners Club Black Credit Card is a high-end credit card providing top-notch services and benefits to its members. This card has been designed keeping in mind the needs and lifestyle demands of the premium section of society. This credit card offers benefits across almost all categories starting from dining to travel to insurance. This card will be quite suitable for those who spend a considerable amount of their earnings on Zomato, Ola, Amazon Prime, etc. Keep reading the article to know more about this credit card in detail –
- As a welcome benefit, the cardholders will get complimentary annual memberships of Amazon Prime, Club Marriott, Forbes, Zomato Gold, MMTDOUBLEBLACK, and Times Prime
- The cardholders will be eligible for this membership on fulfilling either of the 2 conditions – spending 1.5 lakhs within the first 90 days of card issuance or upon realization of the joining fee.
- You can earn 5 Reward Points for every Rs. 150 spent on all retail purchases, except fuel
- You will get accelerated Reward Points i.e., 10X on the SmartBuy portal.
- The cardholders will get 2x Reward Points on weekend dining.
- A maximum of 5,000 Reward Points per day can be earned on insurance transactions
- The cardholders can enjoy unlimited access to the domestic and international airport lounges.
- As a milestone benefit, the cardholder will get a renewal of the subscriptions under the Welcome Benefits upon spending Rs. 8 Lakhs in an anniversary year.
- On spending Rs. 80,000 in a calendar month, you will get any two out of – Ola Select, a cure.fit Live, BookMyShow, and TATA CLiQ (worth Rs. 500 each).
- You get 6 complimentary golf rounds per calendar quarter at the best golf courses around the world.
- This card charges a low foreign currency markup fee of 2% on all your international transactions done using this credit card.
- 1% fuel surcharge waived on fuel purchases at all fuel stations across India, subject to a minimum transaction amount of Rs. 400 and a maximum cashback of Rs. 1,000 per statement cycle.
- This credit card comes with an annual fee of Rs. 10,000 which can be waived off on spending Rs. 5 Lakhs or more in the previous year.
- The reward points earned with this credit card can be redeemed as follows –
|Flights/ Hotels on SmartBuy||Re. 1|
|Product Catalogue (vouchers/ products)||Up to Rs. 0.50|
Now that we have discussed about the features of both the cards individually, let us now have a quick comparison between Axis Bank Magnus Credit Card and HDFC Bank Diners Club Black Credit Card-
|Basis||Axis Bank Magnus Credit Card||HDFC Bank Diners Club Black Credit Card|
|Reward Rate|| || |
|Reward Redemption|| || |
|Fuel Surcharge Waiver|| || |
|Milestone Benefit|| || |
|Lounge Access|| || |
|Golf benefits|| || |
|Joining Fee|| || |
|Renewal Fees|| || |
|Eligibility|| || |
Both the credit cards i.e., the Axis Bank Magnus Credit Card and the HDFC Bank Diners Club Balck Credit Card are high-end credit cards providing super premium services to the customers. They are specially designed for the high-net-worth individuals of society. Both the credit cards come with similar joining and renewal fees but if we talk about spend-based waivers, the spending amount of Axis Bank Magnus Credit Card is Rs. 15 Lakhs which is quite high as compared to the HDFC Bank Diners Club Black Credit Card is just Rs. 5 Lakhs. Both the credit cards provide unlimited access to the domestic and international airport lounges which is a great benefit for those who are frequent flyers. These credit cards can be owned by people who have quite a high and stable source of income. Both cards might look similar yet have differentiated features from each other. The customer will have to choose between the two after thoroughly analyzing his needs and wants.
For any more queries related to these cards, please feel free to ask us in the comment section below!