Axis Bank, in association with Visa, has introduced ‘Primus’, an ultra-premium credit card designed exclusively for Ultra High Net Worth Individuals (UHNW) of India.
The new super premium card will be offered on an invitation-only basis to select Axis Bank ultra-high net worth customers.
Accessible by invitation only, this card offers unparalleled luxury experiences and benefits, satisfying the most discerning tastes of the country’s elite.
Driven by India’s growing affluence, Axis Bank aims to capture a significant share of the luxury market with Primus. The card leverages Visa’s global network to offer exclusive privileges and benefits, setting a new benchmark for luxury credit cards in India.
The proposition, among other things, offers carefully curated luxury experiences for this group of discerning and sophisticated consumers, such as select culinary tours and customized 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 have access to a number of exclusive benefits, some of which are:
Unforgettable culinary experiences: preferential access to more than 10,000 restaurants worldwide, including coveted tables and last-minute reservations at Michelin-starred establishments and the World’s 50 Best Restaurants.
Selected Global Events: Invitations to private art gallery tours, global sporting events, restaurant takeovers, exclusive menus and access to limited-edition fashion experiences curated by personal shoppers.
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Travel redefined: Customized travel itineraries, such as aerial safaris, ski holidays, with exclusive access to private jets. -
Luxury hotels: Access to the world’s finest hotels at preferential rates and other added values, through a world-class concierge service with complimentary booking benefits. The launch of Primus signifies Axis Bank’s strategic focus on the premium segment, with the aim of providing customized solutions to meet the unique needs of its affluent clientele.
Why is such a card necessary?
India’s GDP has grown to around $3.5 trillion, placing it among the world’s largest economies. This economic growth has fueled significant wealth accumulation: a record 200 Indians have made it to Forbes’ list of the world’s billionaires by 2024 and India is projected to have around 16.3 lakh billionaires by 202. According to a recent report, the number of India’s ultra-high net worth individuals (UHNWIs) with a net worth of over $30 million is set to increase by more than half (58.4%) over the next five years.
“One of the key areas of our strategy is premiumisation of our customer base to accelerate the growth of the Bank. We have created a distinctive value proposition with ‘Burgundy Private’ and have a range of premium credit card products to meet the needs of our affluent customers. Now, with the launch of a first-of-its-kind credit card – PRIMUS – with unparalleled access, personalised concierge, luxury rewards, private and curated experiences, we will be able to meet and exceed the personalised needs and expectations of India’s discerning elite,” said Arjun Chowdhry, Group Executive & Head – Affluent Banking, Retail Assets, Cards & Payments, Axis Bank.
Membership fee/annual
This super premium card could be considered as an alternative to the Citi Ultima card and the joining fee is Rs 1.8 lakh.
With the Primus card, cardholders get unlimited access to domestic airport lounges and can easily access international lounges with the provided Priority Pass membership. Additionally, cardholders get complimentary access to Bloomberg and Taj Epicure memberships.
EDGE miles earned with this card can be converted into partner miles at a ratio of 1:5. This means that for every EDGE mile earned, you can earn five partner miles from reputed airline and hotel partners such as Accor, Air India, Air France and ITC.
Unlimited domestic golf lessons and rounds for the primary cardholder (along with one guest). 4 complimentary international golf rounds along with one guest
Liability for loss of card of ₹25,00,000
Axis Bank Primus Primary cardholders can enjoy a complimentary night’s stay when they book a minimum of two consecutive nights at over 900 participating luxury properties worldwide. Each cardholder can enjoy a maximum of two complimentary nights per one-way journey from the country where the Axis Bank Primus card was issued, irrespective of the number of cities visited or hotels stayed at during the same one-way journey.
Primus credit card holders can subscribe to Bloomberg on an annual basis. This would be useful for all those who wish to stay informed about world events. This subscription will be renewed on the card’s anniversary date.
First published: August 12, 2024 | 1:51 PM IS
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