Credit cards have become an integral part of our lives. They offer a convenient way to make payments and help build a healthy credit score. Axis Bank, one of the leading private sector banks in India, offers a wide range of credit cards to choose from. One of their premium offerings is the Axis Bank Burgundy Private Credit Card.
This article provides a comprehensive review of the Axis Burgundy Private Credit Card including its features, fees, rewards, eligibility criteria, and more. We have also addressed some frequently asked questions about this card towards the end. Read on to find out if the Axis Burgundy Private Credit Card is the right choice for you.
About Axis Burgundy Private Credit Card
The Axis Burgundy Private Credit Card is a premium charge card aimed at high-net-worth individuals offered by Axis Bank. As it is a charge card, the outstanding balance needs to be paid in full every month. The card comes packed with lavish benefits and rewards tailored for affluent customers.
Some of the key benefits of the Axis Burgundy Private Credit Card include:
- Complimentary airport lounge access
- Insurance coverage
- Exclusive golf program
- Higher rewards rate
- Lifetime validity
The card requires an annual fee of Rs 10,000 which is on the higher side but the luxurious benefits can make up for it if used optimally. The card competes with other premium cards like DBS Black Credit Card and HDFC Solitaire Credit Card.
Features and Benefits of Axis Burgundy Private Credit Card
Here are some of the top features and benefits offered by the Axis Burgundy Private Credit Card:
- Complimentary Airport Lounge Access
One of the biggest highlights of this card is the 12 complimentary domestic airport lounge accesses per year. Cardholders can access lounges like Plaza Premium Lounge, Travel Club Lounge, and others across India through the Priority Pass membership. The annual membership fee of Rs 2000 is also waived.
- Air Accident Insurance Cover
The card comes with air accident insurance coverage of Rs 1 crore. This covers accidental death as well as total and permanent disability while flying as a passenger on a scheduled airline.
- Golf Program
Cardholders get complimentary green fees worth Rs 10,000 per quarter on golf games at select golf courses in India. The membership fee for “The Axis Burgundy Private League” is also waived.
- Higher Rewards Rate
The card offers a higher reward points structure compared to regular Axis Bank credit cards. You earn:
- 5 points for every Rs 200 spent
- 10 points for every Rs 200 spent through Axis Bank forex card
- 20 points on every Rs 200 spent on dining, movies, and international travel
The reward points can be redeemed for exciting gifts, vouchers, air miles, and more. There is no cap on the earnings.
- Lifetime Validity
The reward points earned on the card have lifelong validity. There is no expiry of points which is a big positive.
- Insurance Cover
Complimentary insurance benefits include cover for loss of checked baggage as well as cover for lost cards, counterfeit transactions, and others. The covers range from Rs 5,000 to Rs 10,000.
- Easy EMI Options
Cardholders can convert their high-value purchases into EMIs at attractive interest rates starting from just 1.99% per month. The minimum transaction amount to avail of this benefit is Rs 5,000.
- Cash Withdrawals
You can withdraw cash either from ATMs or Axis Bank branches. The limit is up to 40% of the credit limit or Rs 50,000 whichever is lower. A nominal charge applies.
- Add-on Cards
You can request for free additional cards for family members with separate credit limit and rewards points account.
There are offers across travel, dining, hotels, entertainment, and more where cardholders can save money on transactions.
Axis Burgundy Private Credit Card fees
Here are the applicable fees for the Axis Burgundy Private Credit Card:
- Joining fee: Rs 10,000
- Renewal fee: Rs 10,000
- Add-on card fee: NA
- Cash advance fee: 3.5% or minimum Rs 500
- Cash payment fee: Rs 100
- Foreign currency transaction fee: 3.5%
- Late payment fee: 2.5% per month (42.24% per annum)
- Overlimit fee: 2.5% per month of over-limit amount
While the annual fee is steep at Rs 10,000, it may be waived on annual spending over Rs 10 lakhs. The foreign currency markup fee is reasonable compared to many other cards in this segment.
How to Apply for Axis Burgundy Private Credit Card?
Only select Axis Bank customers and high-net-worth individuals can apply for this card. Here is the application process:
- Visit your nearest Axis Bank branch and request this card
- Provide required documents like identity proof, address proof, and income details
- If you meet the eligibility criteria, the relationship manager will guide you through the application
- The credit team will evaluate your profile and approve a credit limit
- On approval, you need to pay the joining and annual fee
- The card will be couriered to your mailing address within 7 days
It usually takes around 10-15 days to receive your Axis Burgundy Private Credit Card after initiating the application. Do check your credit card statements regularly and report unauthorized transactions, if any.
Axis Burgundy Private Credit Card Eligibility Criteria
The Axis Burgundy Private Credit Card comes with exclusive eligibility criteria. Here are some of the key parameters:
- Minimum age should be 21 years
- Minimum annual income of Rs 15 lakhs
- You should have a good credit score, preferably above 750
- Need to maintain NRE/NRO account with Axis Bank
- Prior relationship with Axis Bank preferred
The final approval decision is taken by Axis Bank basis your overall profile. Existing Axis Bank customers meeting the income criteria have higher chances of approval.
So before you apply, ensure you meet the eligibility criteria to avoid rejection. Having a good CIBIL score and credit history can help fast-track your application.
Axis Burgundy Private Credit Card Verdict
Here is a summary of our Axis Burgundy Private Credit Card review:
- 12 complimentary airport lounge visits annually
- 1 crore air accident cover
- Higher reward points rate
- Lifetime reward points validity
- Luxury benefits like golf program
- Priority Pass membership worth Rs 2000 waived off
- Steep fee of Rs 10,000
- Available only by invite or to select customers
- Charges applicable for cash advances and forex usage
The Axis Burgundy Private Credit Card makes the most sense for ultra-high-net-worth individuals who frequently travel abroad. The lounge access, golf program, and higher rewards rate can offset the high fees.
If you are an affluent customer looking for a card with luxury privileges, the Axis Burgundy Private Credit Card is worth considering. Use the card smartly and maximize the benefits to get the most value.
However, if you don’t travel much overseas and have moderate spending requirements, this may not be the ideal card due to the high fee. Regular premium cards like Axis Bank Magnus Credit Card could be better options in such cases.
FAQs on Axis Burgundy Private Credit Card
Here are some frequently asked questions about the Axis Burgundy Private Credit Card:
Q: What is the minimum income eligibility for an Axis Burgundy Card?
A: You need to have a minimum annual income of Rs. 15 lakhs to be eligible for this card.
Q: What are the charges to be paid in the first year for this card?
A: The first-year charges include the joining fee of Rs 10,000 and the renewal fee of Rs 10,000 i.e. Rs 20,000.
Q: How is the annual fee of Rs 10,000 charged?
A: The annual fee of Rs 10,000 is charged every year at card renewal. It may be waived off on annual spending of Rs 10 lakhs or more.
Q: What is the reward points expiry on this card?
A: There is no expiry of reward points on the Axis Burgundy Private Credit Card. The accumulated points will lapse only if you close the card.
Q: How can I redeem the reward points?
A: You can redeem reward points for online shopping vouchers, hotel bookings, flight tickets, and more. You can also redeem for air miles if you have an air miles card linked.
Q: What is the forex markup on international transactions?
A: There is a 3.5% foreign currency conversion markup applicable on all international transactions with this credit card.
Q: Is there any cap on acceleration points earned?
A: No, there is no maximum cap on the accelerated reward points earned per billing cycle.
Q: Can I get add-on cards with this credit card?
A: Yes, you can request for free add-on cards for your family members or partners under the same account.
Conclusion The Axis Burgundy Private Credit Card is one of the most premium offerings from Axis Bank aimed at ultra-high-net-worth individuals. The card offers a bouquet of luxury benefits like airport lounge access, a golf program, insurance coverage, and a higher rewards rate. However, it comes with an annual fee of Rs 10,000 which is on the higher side. So analyze your expenses and requirements to determine if the fee would be justified. Use the card wisely and take advantage of all the privileges to maximize savings. For affluent customers who frequently travel abroad, the Axis Burgundy Credit Card can be a great choice.
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