Axis Bank Magnus Credit Card Vs ICICI Bank Sapphiro Credit CardAxis Bank Magnus Credit Card Vs ICICI Bank Sapphiro Credit Card

Axis Bank Magnus Vs ICICI Bank Sapphiro Credit Card

Selecting the best super-premium credit card can be challenging due to the multitude of options available in today’s market. Major credit card issuers provide a range of cards, from entry-level to super-premium ones. Two notable contenders in the premium card category are the Axis Bank Magnus and ICICI Bank Sapphiro Credit Cards. These cards often create confusion among consumers, given their exclusive benefits in areas such as Rewards, travel, lifestyle, dining, and entertainment.

While the Magnus Card carries a slightly higher annual fee compared to the Sapphiro Card, the investment may be justified for individuals adept at maximizing credit card benefits. Conversely, the ICICI Sapphiro Credit Card offers a host of privileges at a more affordable annual fee, making it a preferable option for those seeking decent benefits without a substantial cost.

Features and Benefits of Axis Bank Magnus Credit Card and ICICI Bank Sapphiro Credit Card

Axis Bank Magnus Credit Card:

  1. Premium Offering: Axis Bank’s Magnus Credit Card stands out as one of the bank’s premium cards.
  2. Diverse Privileges: The card provides exclusive privileges in various categories such as travel, movies, and dining.
  3. Reward Rate: Earn up to 12 Edge Rewards for every Rs. 200 spent on retail purchases.
  4. Travel Benefits: Enjoy 5x Edge Rewards on travel expenses via TRAVEL EDGE.
  5. Bonus Rewards: Receive 25,000 bonus Edge Rewards monthly upon reaching spend milestones.
  6. Lounge Access: Avail unlimited free access to domestic and international lounges.
  7. Hotel Stays: Enjoy discounted stays at Oberoi Hotels.
  8. Movie Benefits: Access a Buy One Get One Free offer on BookMyShow (up to 5 times per month).
  9. Dining Discounts: Get a 25% discount at over 2,000 restaurants with Dineout passport.
  10. Comprehensive Insurance: Receive complimentary travel-related insurance, including a cover worth Rs. 4.5 crore against air accidents.

ICICI Bank Sapphiro Credit Card:

  1. Welcome Benefits: Despite its Rs. 3,500 annual fee, the ICICI Bank Sapphiro Credit Card offers substantial welcome benefits.
  2. Reward Points: Earn up to 4 Reward Points for every Rs. 100 spent, redeemable for various options, including cashback.
  3. Gift Vouchers: As a welcome benefit, receive gift vouchers worth Rs. 9,000 from top brands.
  4. Reward Rate: Receive 2 Reward Points for each Rs. 100 spent within the country and 4 Reward Points for every expenditure made internationally.
  5. Movie Offers: Enjoy a Buy One Get One Free offer on movie tickets (up to Rs. 500 off on the second ticket).
  6. Lounge Access: Avail 4 complimentary domestic lounge accesses quarterly and 2 free international lounge accesses annually with Dreamfolks Pass membership.
  7. Golf Privileges: Access complimentary golf lesson/game every quarter.
  8. Insurance Coverage: Benefit from an insurance cover worth Rs. 3 Crore against personal accidents.

Comparison between Axis Bank Magnus Credit Card and ICICI Bank Sapphiro Credit Card

Axis Bank Magnus Credit Card:

  1. Annual Fee: Rs. 10,000 (waived on spending Rs. 15 lakhs or more in the previous year)
  2. Reward Rate:
    • Earn 12 Edge Rewards for every purchase totaling Rs. 200.
    • Earn five times the Edge Rewards points when you make purchases through the Travel Edge portal.
    • 4 Reward Points on every Rs. 100 spent internationally
    • 2 RPs on every Rs. 100 spent domestically.
  3. Movie & Dining Benefits:
    • Take advantage of BookMyShow’s exclusive promotion: Purchase one movie ticket and receive another one absolutely free. Don’t miss out on this incredible offer!
    • 25% discount on dining across several participating restaurants.
  4. Milestone Benefits: Receive up to 25,000 additional Rewards each month upon reaching the designated spending milestone.
  5. Travel Benefits: Unlimited complimentary domestic and international lounge access every year.
  6. Fuel Surcharge Waiver: 1% fuel surcharge waiver on all fuel purchases (maximum waiver of Rs. 400 per billing cycle)

ICICI Bank Sapphiro Credit Card:

  1. Joining Fee: Rs. 6,500
  2. Annual Fee: A fee of Rs. 3,500 is nullified if you spend Rs. 6 lakhs or above in the preceding year.
  3. Reward Rate:
    • Enjoy a special deal: Purchase one movie ticket through BookMyShow and get another one absolutely free!
    • 25% discount on dining across several participating restaurants.
  4. Milestone Benefits: Get up to 20,000 bonus Reward Points every year on achieving the spend milestone
  5. Travel Benefits:
    • 4 complimentary domestic lounge access every quarter
    • 2 free international lounge access every year.
  6. Fuel Surcharge Waiver: 1% fuel surcharge waiver on all fuel purchases (maximum waiver of Rs. 250 per billing cycle)

Which credit card suits you best?

  • Both Axis Bank Magnus and ICICI Sapphiro Credit Cards offer various benefits across different categories.
  • No single card is universally the best, as individual preferences and requirements vary.
  • The Magnus Credit Card is ideal for high net-worth individuals who enjoy traveling, providing unlimited free lounge access and a low forex markup fee.
  • Additionally, the Magnus Card offers a competitive reward rate, allowing cardholders to save significantly on their expenses.
  • On the other hand, ICICI Bank’s Sapphiro Card is suitable for occasional travelers, offering decent travel and entertainment benefits with a lower annual fee.
  • Individuals looking for affordability and reasonable travel perks may find the Sapphiro Card more appealing.
  • When choosing between these cards, it’s crucial to consider your specific needs and preferences.

Frequently Asked Questions (FAQs)

Q: What are the key features of Axis Bank Magnus Credit Card?

A: The Axis Bank Magnus Credit Card offers unlimited free lounge access, a low forex markup fee for travelers, and a competitive reward rate. It is tailored for high net-worth individuals who prioritize travel benefits.

Q: What makes ICICI Bank Sapphiro Credit Card stand out?

A: The ICICI Bank Sapphiro Credit Card is known for its decent travel and entertainment benefits, along with a lower annual fee. It caters to individuals who enjoy occasional travel and seek affordability.

Q: How do the annual fees compare between the two cards?

A: The Magnus Credit Card may have a higher annual fee, but it comes with extensive travel perks. In contrast, the Sapphiro Credit Card has a lower annual fee, making it a more budget-friendly option.

Q: Which card is more suitable for frequent travelers?

A: The Axis Bank Magnus Credit Card is well-suited for frequent travelers due to its unlimited lounge access and favorable forex markup fee. It caters to those who prioritize travel benefits in their card selection.

Q: What kind of rewards can I expect from Axis Bank Magnus Credit Card?

A: The Magnus Credit Card offers a competitive reward rate, allowing cardholders to accumulate rewards quickly. These rewards can be redeemed for various benefits, making it an attractive choice for those who spend frequently.

Q: Is the ICICI Bank Sapphiro Credit Card a good option for someone on a budget?

A: Yes, the Sapphiro Credit Card is designed for individuals seeking travel and entertainment benefits at a more affordable cost. Its lower annual fee makes it an appealing choice for those conscious of their budget.

Q: Do both cards have any specific eligibility criteria?

A: Both cards may have specific eligibility criteria based on factors such as income, credit score, and other financial considerations. It is advisable to check with the respective banks for detailed eligibility requirements.

Q: Can I use these credit cards internationally?

A: Yes, both the Axis Bank Magnus Credit Card and ICICI Bank Sapphiro Credit Card can be used internationally. However, it’s recommended to check the specific terms and conditions related to international transactions, fees, and forex rates.

Q: How do I apply for either of these credit cards?

A: To apply for the Axis Bank Magnus Credit Card or ICICI Bank Sapphiro Credit Card, you can visit the official website of the respective banks. The typical procedure for applying usually entails completing an electronic form and providing the necessary paperwork.

Q: Are there any additional perks or benefits that distinguish these cards?

A: Both cards may offer additional perks such as insurance coverage, concierge services, and exclusive privileges. It’s recommended to review the detailed features of each card to determine which aligns better with your individual preferences and needs.

Leave a Reply

Your email address will not be published. Required fields are marked *