In the world of credit cards, we seldom use our debit cards. And why not? Credit cards have obvious advantages when it comes to making payments and enjoying interest free period and what not. But there are a few Debit cards that real take the game to a new level and can help people earn and benefit from them if used intelligently.
One of such top of the line Debit cards is the IndusInd Exclusive Signature Debit Card that we have already seen in past. Another such Debit Card that comes with enormous luxury and status symbol is the Burgundy World Debit Card by Axis Bank.
Axis Bank Burgundy World Debit Card
Now, let me make one thing clear. This card is only for HNW individuals who have a Burgundy account (AQB- Rs.10Lakh in savings bank and above). You cannot get this card even by paying any fees. This card is given complimentary to Primary and Joint Holders of a Burgundy account, FREE of cost.
Benefits of the Axis Burgundy Debit Card
- Issuance/annual fees: Nil
- Comes with an ATM withdrawal of ₹2 Lakh/day and ₹6 lakh/day spend on PoS terminals or Online purchases.
- Bookmyshow offer: Upto 4 tickets in a month free when two or Moore tickets are bought. 1 ticket will be free out of the 2 purchased. Max of value of free ticket will be ₹350.
- Fuel surcharge: will be fully waived off up to ₹750/month at ALL petrol pumps. Now this is unique because these days a lot of banks are only reversing 1% fuel surcharge. So this is good for the user.
- Airport Lounge Access: It is there in all lounges offered by the Master Card Lounge access program in India.
- Edge loyalty reward points: 2/₹200 spent on domestic purchase and 6/₹200 spent internationally either online or on foreign visits. However, they’ll charge you 3.5% as mark up fees. I’ll not advise using this card for foreign currency purchases, for that check out some of the best credit cards with low foreign currency markup fees.
- Reward Point Value: ₹0.20. So, that is really less if you consider the way the card is projected by Axis Bank. Effectively, you earn 2 RP/₹200 so it comes down to only 0.20% which is very less.
- Minimum 15% off on dining from partner restaurants which can be obtained from dining delights website.
- Insurance cover: Personal accidental insurance of ₹15 Lakh. Air Accident insurance of ₹1 crore. Lost card liability and Purchase protection of ₹6 Lakh
- International Cash Withdrawal/Balance Enquiry: Nil
- Foreign Currency Markup Fee: 3.5%
- Reward Rate: 0.20%
- Cardexpert Rating: 3.5/5 [yasr_overall_rating]
Verdict
There is NO EXTRA benefit of this card over the high end credit cards except free International cash withdrawal. However, since this is offered to all Burgundy Customers for free so it won’t hurt to keep the card anyway. The card has a good limit for purchase protection and has a good purchase limit too. However the edge loyalty points are lousy for such a top of the line Card.
We sincerely hope that Axis bank improves their reward earning programs as these Edge Loyalty points are a joke to say the least. It’ll take ages to earn enough points to book even an economy ticket with reward rate of just 0.20% on a top end debit card. Where as cards like IndusInd Exclusive Signature debit card can let you earn all the way upto 2.5% in a month, that too they allow those points to be redeemed as cash credit!!!
Feel free to to comment on whether this card is up to your expectations from such a high end savings account? Doesn’t Axisbank love its customers? Do you have any good or bad experiences with Axisbank Debit or credit cards? Feel free to share it with us.
Duh! What a sham of a premium card. Btw, do you think free international cash withdrawal / balance enquiry is a privilege? Almost all credit & debit cards which offer international acceptance have it free.
AFAIK, Most debit cards has Cash withdrawal charges in international ATM’s.
So its just one of the difference, but yes not a major privilege for which one would opt for this card.
I think you’ve got it all wrong man. Almost no debit card in India allows international ATM withdrawals for free. Only one I know off apart from Burgundy is IndusInd Signature. No credit card in India apart from HDFC Infinia allows cash advance for free. Not domestic, not international.
Yes i correct myself here. Not credit cards definitely. But I hold debit cards from Kotak (signature) and DBS (regular). Both charge mark up, but no separate withdrawal fee. Never tried any other debit cards (i hold hdfc platinum, sbi etc) though.
Is the mark up fee 3.5% or 0.035% as mentioned in the Axis Bank Select Credit Card Review
http://www.cardexpert.in/axis-bank-select-credit-card-review/
“However, i did notice that Axis Bank Burgundy debit cards has a super cool 0.035% Markup fee which is pretty close to 0% markup fee with Indusind Signature Exclusive Debit Card”
They’ve silently changed it from 0.035% to 3.5% recently (as reported by one of the burgundy card holder)
That’s rather odd as in the nice looking welcome box package that I received this week with my card, it still shows it as 0.035%! Will have to get clarification this for sure as that is quite a hike if it is indeed the case.
Yeah, do get it confirmed man. The documents that are sent in package are usually old. The information that is updated on the website is more recent. So do clear this confusion.
Reward points of Axis bank card sucks big time.Spend over 20 L in last 1 year and accumulated only 1lakh50k points which is just 30k rupee.Really,they need to do something about the reward point redemption.
That is still good as you got almost 1.5%. Axis bank is even worse than that. Cenrtainly there are hundreds of cards that are better. 🙂
its not 10 lacs AQB , its more like 30 lacs, or have they changed the conditions?
No, nothing has changed since I last saw it 1-2 years back. The AQB is as was earlier at ₹10L. What you are talking about is that, if you can’t maintain, AQB, then you need to have a net relationship value of over ₹30Lakh.
Hey guys Axis bank is giving 10% off capped at Rs. 2500 per quarter on online spends on their Priority Debit Card. What is your take on this? Seems like a better card compared to burgundy debit card to me.
Yes, its indeed better. Follow the thread here: How I Earned Rs.2500 Cashback with Axis Bank Priority Debit Card
Ooh yes. I missed that article. Thanks for the heads up.!
Hey ,
I have just received Axis Priority debit card. Bank manger asking me to update to Burgundy card.
Is there any extra benefits , if I change ?
Please suggest !
Can someone please suggest which one is better?
Axis Priority Banking or Burgundy Banking?
I am eligible for both but confused which one to opt for.
I like the free select credit card on Burgundy banking but heard that the renewal of Club Mariott and PP is possible only when you spend 3L in previous year.
As per their website’s debit card compare feature, the only big difference that I see between burgundy and priority
is
Burgundy : 2 / 6 points for every Rs 200 spent on domestic / international spends
Priority : 1 / 3 points for every Rs 200 spent on domestic / international spends
But I am not sure whether the 10% quarterly cashback of 2500inr on online spends is available on Burgndy.
1 percent montly cash back on debit card spends Will be stopped from september 30,2019 for priority debit card…..
Thats will be a loss of Rs750 per month 😟.
Can anyone suggest which credit card is better Amex Platinum credit card or Axis Burgundy private credit card??
Each serve different purpose. In most cases, you would need both.
Received Axis Burgundy Private Debit card because of the Mastercard ban… The Burgundy Private Debit card comes with Visa infinite ♾….Can anyone help me out by detailing the features of Burgundy Private Debit card…
Any one who is holding Axis Bank E-Debit card, have you managed to get cashback on online spends as per card feature (1% on Online spends), if yes then on which merchants/site? As per T&C there are almost all the MCCs which are part of most of the online Txns are excluded from offer criteria.