Lufthansa had a partnership with IndusInd Bank for the Miles & More co-branded credit card, something they got as a legacy of IndusInd inheriting Deutsche Bank’s credit card portfolio in India. However, this partnership is coming to an end on 30th June 2013, as per a new notice put out on IndusInd website.
Like I mentioned above, the new partnership for the LH Miles & More credit card is materialising with Axis Bank. As an outcome of this, if you don’t switch to the new credit cards, your earlier earned miles on the IndusInd M&M cards start expiring.
Axis is bringing out their M&M card in two variants, the M&M World Select & the M&M World card. The Select variant offers a 15K Miles welcome bonus on first transaction and the World one carries a bonus of 5K miles. The Select version also offers 6 miles per Rs. 200, i.e., 3 miles per Rs. 100 which makes it a bad card for earning mileage currency.
For existing M&M cardholders with IndusInd bank, Axis Bank is offering a free card (however, without the joining bonus), if you signed up before May 31, 2013. Additionally, you can earn double miles on all your purchases till July 31, 2013 (only valid for existing IndusInd M&M cardholders who are moving to Axis Bank). Here are the terms & conditions in PDF.
I’ll analyse this card in depth later, and also add it to the credit card comparison sheet I have for mileage-earning cards in India. However, from the looks of it, it does not look a winner to me.