Image: Axis Bank
For the ultra-wealthy, a credit card can be much more than just a way to make purchases. It’s a status symbol and sometimes even a ticket to earning rewards. Axis Bank’s new Primus card is designed with this in mind. It’s so elusive that it seems like the bank is not quite ready to share it with everyone.
With a joining fee of INR 5.9 lakh and an annual renewal of INR 3.54 lakh, the Primus card has staked its claim as India’s priciest credit card, targeting the créme de la crème of society. For comparison, the American Express Centurion card, often seen as its closest competitor, costs even more to join at INR 8.26 lakh, though its annual fee is a bit lower at INR 2.95 lakh.
The Primus is available only by invitation, with the bank focusing on a select group—just a few hundred ultra-high-net-worth individuals—and isn’t rushing to widen its circle anytime soon. The strategy is to keep the Primus card’s circle tight. It’s a philosophy reminiscent of the Centurion, which has only around 2,000 to 2,500 active users in India.
In the world of ultra-luxury credit cards, lifestyle perks usually overshadow financial rewards. The Axis Primus card aims to strike a balance between indulgence and financial gain with its rewards.
The card allows users to earn 1 EDGE Mile (EM) for every INR 100 spent, without any restrictions on categories. These miles can be converted into partner points at a 1:5 ratio, providing a flexible option for maximising rewards.
Axis Bank has teamed up with around 20 top international airlines and hotel chains, including big names like Etihad, Qatar Airways, Singapore Airlines, United Airlines, Air India, Marriott, Accor, ITC and IHG Hotels & Resorts.
The card provides milestone bonuses of 15,000, 25,000, and 35,000 EDGE Miles (EMs) for quarterly spending tiers of INR 20-30 lakh, INR 30-50 lakh and over INR 50 lakh. At the lowest spending tier, the rewards rate can still reach up to 8%.
Upon joining the Primus Club Card, new members can choose between 25,000 Axis EDGE Miles or an INR 40,000 gift card from ITC Hotels. Each EDGE Mile earned is equivalent to five partner miles and can be redeemed for various options, including products, vouchers or additional partner miles.
For travelers, the Primus card includes unlimited international lounge access for both primary and additional cardholders, plus 12 complimentary guest visits each year with priority passes. If you’re into golf, there are four complimentary green fees at participating international clubs and, domestically, unlimited green fees and buggy access for the primary cardholder, along with 10 free rounds or lessons annually for add-on members.
Additionally, the card provides coverage of up to INR 25 lakh for lost card liability.
