While Axis Bank used to do decent merchant offers in the past during festive season, from 2020 it looks like Axis Bank is entering a new era of aggressive offers, just like other major players in the industry.
|Card Variant||Regular Earn Rate||3X Earn Rate||Return on spend|
|Burgundy Private Credit Card||15 RP’s / Rs.200||45 RP’s / Rs.200||4.5%|
|Reserve Credit Card||15 RP’s / Rs.200||45 RP’s / Rs.200||4.5%|
|Magnus Credit Card||12 RP’s / Rs.200||36 RP’s / Rs.200||3.6%|
- Offer: 3X rewards on spends
- Offer period: 5th Nov’20 to 5th Jan’21
- Excluded spends: Utility bills, insurance payments and the merchants on offer for 10X EDGE points
- Max. Cap: 1,00,000 Points per month (calendar month)
- How to Enrol? By sending an SMS as “FESTIVE” to 56161600 or 8691000002
- Enrolment Period: 5th Nov’20 to 25th Nov’20
- Fulfilment: Within 60 days from end- date of the campaign
Ideally the return on spend is pretty close to Amex Diwali Offer but this one is not targeted by profile but by card type. You may opt for it as mentioned above even if you haven’t received the communication via sms/email.
To max out the benefit, you would need to spend ~5.55L on Magnus and ~4.44L on Reserve/Burgundy Private credit cards, every month, doing which you may walk away with sweet 3L points. Numbers may differ a bit if they consider 1L cap for bonus points alone.
Its good to see Axis Bank getting into the festive rewards game finally! Been hoping for it to happen since long time.
Though, yes, it could have been lot better if they have included other less premium cards as well, like Axis Select & Axis Privilege maybe with lower limits. Let’s see if they do it in future.
For now, the 3X rewards are giving very good return on spend on the said cards and not to forget Axis Edge rewards are very much valuable than most others as they have flexible redemption options.
What’s your take on the 3X rewards on Axis premium credit cards? Feel free to share your thoughts in the comments below.