SBI AURUM Credit Card Vs AXIS Bank Magnus Credit Card

SBI and AXIS Bank are both two giants of the Indian Finance Market handling a large number of customers in the market. There can be times when you wish to open an account or get a credit card with either of the two banks. At that time, the most important question would be which bank or financial institution would be a better fit for you. For beginners, opening a new account they might follow the hearsay, but for people who are already aware of most of the pros and cons of having a credit card, the decision might not be as easy as it seems.

SBI has so many different credit cards in the market, and so the amount for AXIS is not very different either. While trying to find a great credit card from both these banks, we tend to compare them with one another. When looking at the finest credit cards by both these banks, there is no doubt that AURUM from SBI and Magnus from AXIS stand out the most. The SBI AURUM Credit Card and AXIS Bank Magnus Credit Card are two credit cards that are popular among all the other cards in the premium and super-premium categories.

There are many benefits that these two credit cards can provide their cardholder. However, all the benefits not being exactly different from one another can cause some misunderstanding and confusion as to which card would be perfect. As there is no best credit card in the market, just a credit card best fitted for you, it will be up to the cardholder to decide on which one they will have. To dig a little deeper into both these credit cards, keep reading the article –

SBI AURUM Credit Card

The SBI AURUM Credit Card is the card through which SBI entered the Super Premium section of the credit card. This makes the AURUM the most premium offering by the SBI itself. Along with this, AURUM has given direct competition to the other premium cards from other banks as well. Since it is a premium credit card, there are many other complimentary privileges and benefits you can get with this credit card. The list of features is as follows –

Welcome Benefit

• 40,000 reward points worth Rs 10,000 as a welcome gift.
• Complimentary membership towards Zomato Pro, Eazydiner Prime, Discovery Plus, Amazon Prime, BBStar, and Lenskart Gold for 6 months.

Rewards

• 4 reward points on every Rs. 100 spent using the credit card.
• 4 RP is equal to Re. 1
• The reward can be redeemed against the catalog on things like gift vouchers, flight bookings, etc.

Dining and Movie

• Complimentary membership of Zomato Pro and Eazydiner Prime
• 4 movie tickets per month from BookMyShow (each capped at Rs. 250). A maximum of 2 tickets can be booked in 24 hours

Travel Benefit

• 4 complimentary domestic lounge access with Visa/MasterCard domestic lounge program.
• Unlimited International airport lounge access
• Complimentary Dreamfolks lounge access membership.
• Flight Cancellation benefits like a cover of Rs. 3,000 per ticket on non-refundable tickets and Rs. 3,000 per ticket on refundable tickers (max capped two times in a year)

Milestone Benefits

• TataCliq voucher worth Rs. 1,500 upon spending over Rs. 1 Lakh in a month
• Tata CLiQ Luxury Vouchers worth Rs. 5,000 upon spending over Rs. 5 Lakhs in a year.
• The Taj Voucher worth Rs. 10,000 upon spending over Rs. 10 Lakhs as an annual spend.

Fees And Charges

• Joining/Annual fee – Rs. 9,999 + GST, which can be waived upon spending over Rs. 12 Lakhs.
• Interest Rates = 3.5% per month or 42% annually
• Forex markup fee = 1.99% of the total transacted amount
• Cash Advance fee = 2.5% of the total withdrawn amount
• Reward Redemption fee = Rs. 99 on each redemption request

The SBI AURUM Credit Card is especially a card well versed in almost every category like shopping, travel, dining, and even for movies. Since this is a premium offering, there is hardly any limitation towards all these features. This credit card surely deserves its glory of being the most premium offering by SBI bank.

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AXIS Bank Magnus Credit Card

The AXIS Bank Magnus Credit Card is a super-premium credit card that is one of the most sought-after credit cards in the bank’s portfolio. This credit card is specially built for high-end individuals, and the benefits are curated to blend with their lifestyle. This credit card has many benefits and all these benefits are categorized in major movies, travel, dining, and shopping. Along with these, there are additional features such as complimentary services, rewards, and other added benefits that you can get with the help of this credit card. The benefits are as follows –

Welcome Benefit

• Choose a gift voucher worth Rs. 12,500 from any one of Luxe, Yatra, or Postcard Hotels.

Reward and Reward Redemption Rate

• On every Rs. 200 spent, you earn 12 Axis EDGE REWARDS
• 5X EDGE Reward Points on travel-related expenses through Travel Edge.
• For rental transactions, the reward accrues only up to Rs. 50,000 per month
• 10X RP on purchases from the brands present at the Axis Bank Grab Deals (max cap 5000 EDGE RPs) and max cashback Rs. 1,000 per month
• Up to 10X RP with great discounts on Gyftr.
• Accumulated RPs can be redeemed against instant vouchers, gifts, gadgets, fashion accessories, etc.
• EDGE RPs can also be transferred to partnered airlines and hotels rewarding programs at a ratio of 5:4
• 1 EDGE RP = Re. 0.20

Travel Benefits

• Unlimited domestic airport lounge access across the country with Priority Pass at selected airports for both primary and supplementary cardholders.
• Unlimited international airport lounge access with Priority Pass Membership for primary cardholders with 8 guest visits per year

Movie Benefits

• Get Rs. 500 off on the next ticket after buying one movie ticket from BookMyShow.
• Offer is to be availed a maximum of 5 times in a month.

Dining Benefits

• Get up to 20% off with the partnered restaurants (max capped Rs. 1,000)
• Get up to 50% off on your Birthday with partnered restaurants (max capped Rs. 3,000)

Milestone benefits

• 25,000 bonus EDGE RP upon spending over Rs. 1 Lakh
• Annual or Renewal fee waived off upon spending over Rs. 15 Lakh in the previous year

Fuel

• 1% Fuel Surcharge waived on transactions between Rs. 400 and Rs. 4,000 at all the fuel stations across the country

Fees and Charges

• Joining / Annual Fee = Rs. 12,500 + GST
• Interest Rate = 3.0% per month / 42.58% annually
• Foreign Currency Markup fee = 2% on the total transaction amount
• Cash Advance Fee = Nil.

AXIS Bank Magnus Credit Card is so popular because this credit card covers almost every aspect of a luxurious lifestyle. So, be it for the rewards or the complimentary services, this credit card has it all.

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Quick Comparison

To take a deeper view of what card has what benefit and the difference between both these credit cards, here is a table for a quick comparison –

Basics	SBI AURUM Credit Card	Axis Bank Magnus Credit Card
Joining Fee	Rs. 9,999 + GST	Rs. 12,500 + GST
Welcome Gift	40,000 reward points worth Rs 10,000 as a welcome gift.	Gift voucher worth Rs. 12,500 from any one of Luxe, Yatra, or Postcard Hotels
Rewards	4 reward points on every Rs. 100 spent using the credit card	For every Rs. 200 spent, you earn 12 Axis EDGE REWARDS   5X EDGE Reward Points on travel-related spending through Travel Edge   10X RP on purchases from the brands present at the Axis Bank Grab Deals   Up to 10X RP with great discounts on Gyftr.   Rewards can be redeemed against 5:4
Reward Redemption	4 RP is equal to Re. 1   The reward can be redeemed against the catalog on things like gift vouchers, flight bookings, etc	Accumulated RPs can be redeemed against instant vouchers, gifts, gadgets, fashion accessories, etc.   Rewards can be further converted into miles at the 5:4 rate   1 EDGE RP = Re. 0.20
Reward Redemption fee	Rs. 99	NIL
Interest Rate	3.5% per month or 42% annually	3.0% per month / 42.58% annually
Dining	Complimentary membership of Zomato Pro and Eazydiner Prime	20% off with the partnered restaurants
Movie	4 movie tickets per month from BookMyShow (each capped at Rs. 250) A maximum of 2 tickets can be booked in 24 hours	Rs. 500 off on the next ticket after buying one movie ticket from BookMyShow
Travel	4 complimentary domestic lounge access with Visa/MasterCard domestic lounge program.   Unlimited International airport lounge access   Complimentary Dreamfolks lounge access membership.	Unlimited domestic airport lounge access across the country with Priority Pass at selected airports for both primary and supplementary cardholders.   Unlimited international airport lounge access with Priority Pass Membership for primary cardholders with 8 guest visits per year
Forex Markup Fee	1.99% of the total transacted amount	2% on the total transaction amount
Membership Benefits	Complimentary membership towards Zomato Pro, Eazydiner Prime, Discovery Plus, Amazon Prime, BBStar, and Lenskart Gold for 6 months.	N/A
Milestone Benefits	TataCliQ voucher worth Rs. 1,500 upon spending over Rs. 1 Lakh in a month   LUXE Voucher worth Rs. 5,000 upon spending over Rs. 5 Lakhs in a year.   Taj Voucher worth Rs. 10,000 upon spending over Rs. 10 Lakhs as an annual spend.	25,000 bonus EDGE RP upon spending over Rs. 1 Lakh   Annual or Renewal fee waived off upon spending over Rs. 15 Lakh in the previous year
Fuel	N/A	1% Fuel Surcharge waived on transactions between Rs. 400 and Rs. 4,000 at all the fuel stations across the country
Cash Advance	2.5% of the total withdrawn amount	NIL

Both these credit cards provide a great deal of offers and benefits. AURUM being the most premium offering by the SBI Bank and Magnus being the most popular credit card by the AXIS Bank can be said to be the best in the market. In case you like to be entertained and do not have a particular category to spend on, this AURUM card will be best suited for you. However, in case you are much of a shopper with a limited category of things to buy, Magnus might be the most suitable for you. One other thing that Magnus has that is there are no cash advance fees and neither reward redemption fees.

Conclusion

The SBI AURUM Credit Card and AXIS Bank Magnus Credit Card, both are quite a great deal in the market itself. Not only is the decent reward system due to which the cards are in competition but the other added benefits are quite efficient as well. Both credit cards have concierge services and provide top-notch complimentary service execution. The cards are both quite suitable for those individuals having a luxurious lifestyle.