HSBC Premier (Metal) vs Axis Magnus for Burgundy (2026)
Two cards for the already-rich: 3% flat and effectively free vs 4.8% behind a ₹30,000 fee — Burgundy pulls ahead past ₹1L a month.
Head to head
| Metric | HSBC Premier (Metal) | Axis Magnus for Burgundy |
|---|---|---|
| Our rank | #8 | #3 |
| Annual fee | ₹20,000 + GST | ₹30,000 + GST |
| Fee waiver | None | ₹30,00,000 spend |
| Forex markup | 0.99% + GST | 2% + GST |
| APR | 2.99%/mo (35.88%/yr), computed from transaction date — Premier-specific rate (all other HSBC cards 3.75%/mo) | 3.0%/mo (42.58%/yr, compounded as quoted by Axis) |
| Effective reward rate | 3.0% | 4.8% |
| Currency | HSBC Reward Points | Axis EDGE Reward Points |
| House value | ₹1.00/pt | ₹0.40/pt |
| Welcome benefit | 20,000 reward points on first spend (cards issued through 31 Dec 2026) + Taj Epicure membership + ₹12,000 Taj gift card + EazyDiner Prime on activation | ₹5,000 flight / Luxe / Postcard voucher (new applications) |
| Lounge doors opened | 73 of 644 | 583 of 644 |
| Income — salaried | Qualified Premier relationship: ₹3L+ net monthly salary credit, or ₹50L quarterly TRB (₹40L if the account opened before 1-Jan-2026), or ₹1.15Cr+ mortgage plus the TRB criterion | Burgundy relationship required — official criteria: net salary credit above ₹3L/month in an Axis Salary Account, or ₹10L AMB in savings, or ₹30L TRV (₹1Cr incl. demat) |
| Income — self-employed | Same Premier relationship gates — TRB or mortgage routes | Same Burgundy gates via balances: ₹10L AMB in savings or ₹30L TRV (₹1Cr incl. demat), consistently maintained through the month |
Gold marks the better side of a row. House value is our ₹-per-point mark for each card's currency — the full valuation index →
Net annual value face-off
Everyday spend at each card's base rate plus a realistic ~20% at its best accelerator (less for narrow or capped boosters) — milestones, fee waivers and the redemption haircut all at our house ₹/point. That's why the biggest headline rate doesn't automatically win. Tune it to your own spend in the calculator.
HSBC Premier (Metal) wins under ₹0.5L/month; Axis Magnus for Burgundy takes over above it.
Transfer reach
Both reach
- Singapore Airlines KrisFlyer 1:1 vs 5:4
- British Airways Executive Club (Avios) 1:1 vs 5:2
- Air France-KLM Flying Blue 1:1 vs 5:4
Only HSBC Premier (Metal)
- Qatar Airways Privilege Club (Avios)
- Marriott Bonvoy
- ALL - Accor Live Limitless
Only Axis Magnus for Burgundy
- Finnair Plus (Avios)
- Air Canada Aeroplan
- Ethiopian ShebaMiles
Full route maps on each card page, best ₹/point routes on the optimizer →
The call
For the ₹1L/month spender, Axis Magnus for Burgundy nets ₹27,600 against ₹16,000 — a ₹11,600 gap. At ₹5L/month, Axis Magnus for Burgundy nets ₹6,74,400 against ₹1,60,000 — a ₹5,14,400 gap. Lounge chasers: Axis Magnus for Burgundy opens 583 of 644 tracked doors to HSBC Premier (Metal)'s 73.
Our standing verdicts: HSBC Premier (Metal) — Keep; Axis Magnus for Burgundy — Keep. On our board, Axis Magnus for Burgundy sits at #3 to HSBC Premier (Metal)'s #8 — that's the overall call. Your spend pattern can overrule us: run your exact numbers →