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Choosing the right credit card is very important whether you want to handle finances better, earn rewards, or enjoy travel perks. That’s why comparing credit cards, such as the HSBC Premier and Axis Bank Magnus Credit Card, is essential in finding the best fit for our needs. The HSBC Premier Credit Card is designed for people who enjoy luxury. It offers perks such as free memberships, dining benefits, and access to golf courses for an expensive fee. It’s great for travelers, too, with unlimited lounge access and low fees on foreign transactions.
On the other hand, The Axis Bank Magnus Credit Card is designed for those who want to enjoy the good life. It offers unique welcome gifts and a high reward points system for spending. This card is great not only for people seeking luxury but also for those who spend on travel and dining, as it offers significant discounts and benefits in these areas. It also rewards users with a fee waiver, making it an attractive option for cardholders.
Both cards have their own benefits designed for different lifestyles and spending habits. Let’s explore the details to determine which one best suits your needs.
HSBC Premier Credit Card
The Premier Metal Credit Card is a premium credit card aimed at high-net-worth HSBC Bank clients in India who love luxury. For an issuance fee of ₹12,000 with taxes, cardholders access several exclusive perks, including complimentary memberships to Taj Epicure and EazyDiner Prime, alongside ₹12,000 worth of Taj gift vouchers. This card rewards spending with 2 points per ₹100 spent, which can be redeemed for airline miles, products, or vouchers. Travel enthusiasts will appreciate the unlimited free access to both domestic and international airport lounges, combined with golf privileges all over India. It also offers essential travel insurance while on a trip. Despite an expensive renewal fee of ₹20,000 with taxes, this card has no spend-based waiver. This card offers a low foreign currency markup fee of 0.99% and a low interest rate of 2.49% per month for a premium experience.
Axis Bank Magnus Credit Card
The Magnus Credit Card from Axis Bank offers a wide range of premium benefits designed for travel enthusiasts and those who like luxury. Upon signing up, a welcome offer that includes a Luxe gift card, a gift voucher for The Postcard Hotels, or a Yatra gift voucher, all valued at ₹12,500. The card provides unlimited international lounge access and 8 guest visits annually. It also offers unlimited domestic airport lounge access as well.
The Magnus Credit Card offers lifestyle perks such as exclusive offers at International and Domestic Oberoi & Trident Hotels, up to 30% dining discounts at over 4,000 restaurants across India, and a rewards program where you can earn 12 EDGE Reward points for every ₹200 spent on purchases, and 5x EDGE Reward points on travel spends. The card also provides insurance benefits for wellness and security. If you spend ₹25 lakhs in the preceding year, you won’t have to pay annual fees. It also offers a lower interest rate of 3% and reduced fees of 2% for transactions in foreign countries.
Comparing HSBC Premier and Axis Bank Magnus Credit Card
| Features | HSBC Premier Credit Card | Axis Bank Magnus Credit Card |
| Joining Fee | ₹12,000 + GST | ₹12,500 + GST |
| Renewal Fee | ₹20,000 + GST | ₹12,500 + GST |
| Reward Rate | 2 RP for every ₹100 spent |
|
| Reward Redemption | RP can be redeemed for AirMiles, hotel loyalty programs, shopping vouchers, products, etc. |
|
| Welcome Benefits |
|
Gift Voucher worth ₹12,500 on Luxe, Yatra, Postcard Hotel |
| Dining/ Movies |
|
|
| Travel Benefits | Unlimited access to international and domestic airport lounges | Unlimited access to international and domestic airport lounges |
| Insurance Coverage | Emergency services and international travel insurance | Credit shield protection and purchase protection |
| Foreign Currency Markup | 0.99% | 2% |
Bottom Line
Choosing between the HSBC Premier Metal Credit Card and Axis Bank Magnus Credit Card depends on your lifestyle and spending habits. If you love luxury and don’t mind paying a high fee for exclusive perks like Taj membership and lower foreign transaction fees, the HSBC Premier Credit Card is for you. But if you prioritize travel benefits and dining discounts and have a chance to waive the annual fee by spending a certain amount, the Axis Bank Magnus card might suit you better. Both cards offer great rewards, but the Axis Bank Magnus provides slightly much better benefits for regular spenders.