SBI AURUM Credit Card Vs AXIS Bank Magnus Credit CardSBI AURUM Credit Card Vs AXIS Bank Magnus Credit Card

SBI AURUM Vs AXIS Bank Magnus Credit Card

SBI and AXIS Bank, two major entities in India’s financial landscape, serve a significant number of customers. When deciding whether to open an account or apply for a credit card with either institution, it’s vital to assess which bank or financial provider best suits your requirements. For individuals new to the process of initiating an account, reliance on word of mouth may be common.

Both SBI and AXIS Bank boast a diverse portfolio, each offering over 70 distinct credit cards. Consequently, comparing these options becomes a natural inclination when seeking an ideal credit card. Significantly, within the top-tier credit card offerings, both the SBI AURUM Credit Card and the AXIS Bank Magnus Credit Card shine brightly. These cards have gained widespread acclaim, setting themselves apart in a crowded market filled with numerous options.

Features and Benefits of SBI AURUM Credit Card and AXIS Bank Magnus Credit Card

SBI AURUM Credit Card:

  1. Introduction:
    • SBI’s entry into the Super-Premium credit card segment.
    • Positioned as the flagship premium product of SBI, it competes directly with high-end cards offered by other banks.
  2. Welcome Benefits:
    • 40,000 reward points (Rs 10,000 value) as a welcome gift.
    • 6-month complimentary memberships for Zomato Pro, Eazydiner Prime, Discovery Plus, Amazon Prime, BBStar, and Lenskart Gold.
  3. Rewards:
    • Earn 4 reward points per Rs. 100 spent.
    • 1 reward point equals Re. 1.
    • Redeeming rewards offers a variety of choices, such as gift vouchers, booking flights, and more.
  4. Dining and Movie Benefits:
    • Complimentary Zomato Pro and Eazydiner Prime memberships.
    • You can avail of up to four movie tickets monthly through BookMyShow. Each ticket is capped at Rs. 250, and you can purchase a maximum of two tickets within a 24-hour period.
  5. Travel Benefits:
    • 4 complimentary domestic lounge accesses.
    • Unlimited international airport lounge access.
    • Complimentary Dreamfolks lounge access membership.
    • Flight cancellation benefits up to Rs. 3,000 per ticket.
  6. Milestone Benefits:
    • TataCliq voucher (Rs. 1,500) for monthly spending over Rs. 1 Lakh.
    • LUXE voucher (Rs. 5,000) for annual spending over Rs. 5 Lakhs.
    • Taj voucher (Rs. 10,000) for annual spending over Rs. 10 Lakhs.

AXIS Bank Magnus Credit Card:

  1. Introduction:
    • AXIS Bank’s super-premium credit card.
    • Tailored for high-end individuals.
  2. Welcome Benefits:
    • You’re faced with a decision: either grab a domestic flight ticket with a maximum discount of Rs. 10,000 or opt for a Tata CLiQ voucher worth Rs. 10,000.
    • Valid for 6 months, exclusive to the primary cardholder.
  3. Reward System:
    • Earn 12 Axis EDGE REWARDS for every Rs. 200 spent.
    • Earn five times the EDGE Reward Points when making purchases on travel-related expenses through Travel Edge.
    • 10X RP on purchases from Axis Bank Grab Deals, with max cashback Rs. 1,000 per month.
    • Accumulated RPs can be redeemed for vouchers, gifts, gadgets, etc.
  4. Travel Benefits:
    • Primary and supplementary cardholders can enjoy limitless access to domestic airport lounges through Priority Pass, ensuring an indulgent travel experience without any restrictions.
    • Unlimited international airport lounge access with 8 guests visits per year for primary cardholders.
  5. Movie Benefits:
    • Receive a discount of Rs. 500 on your subsequent ticket purchase through BookMyShow after buying one ticket, with a maximum of 5 times per month.
  6. Dining Benefits:
    • Up to 40% off at partnered restaurants (max capped Rs. 1,000).
    • Up to 50% off on Birthday at partnered restaurants (max capped Rs. 3,000).
  7. Milestone Benefits:
    • 25,000 bonus EDGE RP for spending over Rs. 1 Lakh.
    • Annual/Renewal fee waived on spending over Rs. 15 Lakh in the previous year.
  8. Fuel Benefits:
    • 1% Fuel Surcharge waived on transactions between Rs. 400 and Rs. 4,000 at all fuel stations.

Fee and Charges of SBI AURUM Credit Card and AXIS Bank Magnus Credit Card

SBI AURUM Credit Card:

  • Joining/Annual Fee: Rs. 10,000 + taxes (waived on spending over Rs. 12 Lakhs).
  • Interest Rate: 3.5% per month or 42% annually.
  • Forex Markup Fee: 1.99% of the total transaction amount.
  • Cash Advance Fee: 2.5% of the total withdrawn amount.
  • Reward Redemption Fee: Rs. 99 per redemption.

AXIS Bank Magnus Credit Card:

  • Joining/Annual Fee: Rs. 10,000 + GST.
  • Interest Rate: 3.0% per month or 42.58% annually.
  • Foreign Currency Markup Fee: 2% on the total transaction amount.
  • Cash Advance Fee: NIL.

Comparison between SBI AURUM Credit Card and AXIS Bank Magnus Credit Card

SBI AURUM Credit Card:

  • Joining Fee: Rs. 10,000 + GST
  • Welcome Gift: 40,000 reward points worth Rs 10,000
  • Rewards: 4 reward points on every Rs. 100 spent
  • Reward Redemption: 4 RP = Re. 1; Rs. 99 fee on redemption
  • Interest Rate: 3.5% per month or 42% annually
  • Dining: Complimentary Zomato Pro and Eazydiner Prime
  • Movie: You can purchase a maximum of four tickets per month through BookMyShow, and each ticket is priced at a maximum of Rs. 250.
  • Travel: Access four domestic lounges and enjoy unlimited access to international lounges.
  • Forex Markup Fee: 1.99%
  • Membership Benefits: Complimentary Zomato Pro, Eazydiner Prime, and more for 6 months
  • Milestone Benefits: TataCliQ coupon, LUXE gift card, Taj voucher
  • Fuel: N/A
  • Cash Advance: 2.5% of total withdrawn amount

AXIS Bank Magnus Credit Card:

  • Joining Fee: Rs. 10,000 + GST
  • Welcome Gift: Enjoy a discount of up to Rs. 10,000 on domestic flight tickets, or opt for a Tata CLiQ voucher worth Rs. 10,000.
  • Rewards: 12 Axis EDGE REWARDS for every Rs. 200 spent
  • Reward Redemption: Earn Reward Points (RPs) to redeem for instant vouchers, gifts, and gadgets. Each RP earned is equivalent to 20 paise.
  • Interest Rate: 3.0% per month or 42.58% annually
  • Dining: 40% off at partnered restaurants; 50% off on Birthday
  • Movie: Rs. 500 off on next ticket after buying one from BookMyShow
  • Travel: Unlimited domestic and international lounge access
  • Forex Markup Fee: 2%
  • Membership Benefits: N/A
  • Milestone Benefits: Earn additional benefits through the Bonus EDGE RP program, including waived fees upon reaching spending milestones.
  • Fuel: 1% Fuel Surcharge waived on transactions between Rs. 400 and Rs. 4,000
  • Cash Advance: NIL

Which credit card suits you best?

  1. The SBI AURUM Credit Card and the AXIS Bank Magnus Credit Card are both exceptional choices in the market, distinguishing themselves with their outstanding features and benefits.
  2. These cards not only offer a competitive rewards system but also come with additional efficient benefits.
  3. Both credit cards offer concierge services, guaranteeing impeccable complimentary service delivery.
  4. Crafted specifically for individuals accustomed to opulence in their daily lives, these cards are tailored to meet the desires of those in pursuit of exclusive benefits and lavish privileges.

Frequently Asked Questions (FAQs)

Q1: What unique features distinguish the SBI AURUM Credit Card and the AXIS Bank Magnus Credit Card from others in the market?

A: Both cards stand out due to their competitive rewards system and additional efficient benefits, making them attractive choices.

Q2: Do these credit cards offer concierge services?

A: Certainly! Both the SBI AURUM and AXIS Bank Magnus Credit Cards offer concierge services, ensuring high-quality complimentary assistance for various needs and requests.

Q3: Are these credit cards suitable for individuals with a luxurious lifestyle?

A: Absolutely. Both cards are designed to cater to those leading a luxurious lifestyle, offering premium perks and privileges.

Q4: How do the reward structures of SBI AURUM and AXIS Bank Magnus Credit Cards differ from each other?

A: The reward systems are designed to foster competitiveness, with each card offering distinct features that grant users valuable incentives without repetition.

Q5: What are some additional benefits offered by these credit cards?

A: In addition to the rewards system, both cards offer various efficient benefits, enhancing the overall value for cardholders.

Q6: Could you point out a significant contrast between the features of SBI AURUM and AXIS Bank Magnus Credit Cards?

A: Although these cards have similar characteristics, users might find it helpful to assess individual aspects like interest rates, annual fees, and unique benefits to decide which one aligns best with their requirements.

Q7: Are there any exclusive privileges associated with these credit cards?

A: Yes, both cards come with exclusive privileges tailored for individuals who seek premium services and experiences.

Q8: What steps should I take to apply for either the SBI AURUM or AXIS Bank Magnus Credit Card?

A: You have the option to submit applications for these credit cards via the official websites of State Bank of India (SBI) and AXIS Bank, or alternatively, by visiting their physical branches.

Q9: Do these credit cards have any travel-related benefits?

A: Certainly, both cards could provide various benefits tailored to travel such as access to airport lounges, travel insurance coverage, and additional privileges. It’s wise to review the precise offerings outlined by each card individually.

Q10: What should be my course of action in the event of misplacing my SBI AURUM or AXIS Bank Magnus Credit Card?

A: Promptly get in touch with the customer service department of your bank to inform them about the lost card. They’ll assist you in blocking the card and arranging for a replacement, guiding you through the necessary steps.

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