Private jets and more: Axis Bank targets elite with new luxury credit card

Primus will be offered by invitation only, by Axis Bank. The allure of 'Primus' credit card is rooted in its bespoke benefits specifically tailored for Ultra High Net Worth (UHNW) individuals

Axis Bank, in partnership with Visa, has introduced 'Primus,' an ultra-premium credit card designed exclusively for India's ultra-high-net-worth (UHNW) individuals. 

The new super-premium card, will be offered by invitation only, to select, ultra- high net worth, Axis Bank customers. 

This invitation-only card offers unparalleled luxury experiences and benefits, catering to the discerning tastes of the country's elite.

Driven by India's burgeoning wealth, Axis Bank aims to capture a significant share of the luxury market with Primus. The card leverages Visa's global network to provide exclusive privileges and benefits, setting a new benchmark for luxury credit cards in India.

The proposition, inter alia, offers carefully curated luxury experiences for this set of discerning, sophisticated consumers such as select culinary journeys and custom-made travel itineraries, private jet access, companion tickets and invitations to exclusive events such as exclusive product launches, music concerts and private art exhibitions.

Cardholders will be privy to a host of exclusive benefits, some of which are:

 Unforgettable culinary experiences: Preferential access to over 10,000 global restaurants, including coveted tables and last-minute reservations at Michelin-star establishments and the world’s top 50 restaurants.

Curated global events: Invitations to private art gallery tours, global sporting events to restaurant takeovers, exclusive menus and access to limited edition fashion experiences hosted by personal shoppers.

•  Travel redefined: Curated travel itineraries such as flying safaris, ski vacations, with exclusive access to private jets.
• Luxury Hotels: Access to the best global hotels at preferential rates and other value-adds, routed through a world-class concierge service with complimentary perks for bookings.The launch of Primus signifies Axis Bank's strategic focus on the premium segment, aiming to provide tailored solutions to meet the unique needs of its affluent clientele.

Why the need for such a card?

India’s GDP has surged to approximately $3.5 trillion, positioning it among the world’s largest economies. This economic growth has fostered substantial wealth accumulation, with a record 200 Indians making it to Forbes 2024 World’s billionaire’s list and India is set to have approximately 16.3 lakh millionaires by 202. According to a recent report, India’s ultra-high-net-worth individuals (UHNWI) with net worth over $30 million will rise by over half (58.4%) in the next five years.

"One of the key focus areas in our strategy is the premiumization of our client portfolio to accelerate the Bank’s growth. We have created a distinct value proposition with ‘Burgundy Private’ and have a suite of premium credit card products to cater to the needs of our affluent clients. Now, with the launch of the first of its kind credit card, PRIMUS, with unparalleled access, personalized concierge, luxury rewards, private and curated experiences, we will be able to meet and exceed the bespoke needs and expectations of the most discerning of India’s elite," said Arjun Chowdhry, Group Executive & Head- Affluent Banking, Retail Assets, Cards & Payments, Axis Bank.

Joining/annual fee

 This super premium card might be seen as an alternative to the Citi Ultima card and the joining fee is Rs 1.8 lakh.

With the Primus card, cardholders get unlimited domestic airport lounge access, and international lounges can be easily accessed with the provided Priority Pass membership. Additionally, cardholders are offered complimentary access to Bloomberg and Taj Epicure memberships.

 EDGE Miles earned with this card can be converted to partner miles at a ratio of 1:5. This means that for every EDGE Mile earned, you can get five partner miles from renowned airlines and hotel partners such as Accor, Air India, Air France, ITC.

Unlimited Domestic Golf Lessons and Rounds for Primary Cardholder (Along With One Guest). 4 Complimentary International Golf Rounds Along With One Guest

Lost Card Liability of ₹25,00,000

Axis Bank Primus Primary Cardholders are eligible for one complimentary night’s stay when booking a minimum of two consecutive nights at over 900 luxury participating properties worldwide. Each cardholder can enjoy a maximum of two complimentary nights per outgoing trip from the country where the Axis Bank Primus card is issued, regardless of the number of cities visited or hotels stayed during the same outgoing trip.

Primary Primus Credit Cardholders are eligible for an annual subscription to Bloomberg. This would be useful for all those who wish to stay updated on global events. This membership will be renewed on the card’s anniversary date.