Axis Bank took over the the Miles & More co-branded credit cards portfolio in Q1 2013, and had been offering an accelerated bonus of up to 20000 miles on signing up the card before March 15, 2014 and spending at certain benchmarks.
The promotion has now returned for a brief while, for card applications received till April 15, 2014. In summary, there are two Axis Bank Miles & More credit cards on offer:
- M&M Axis Bank MasterCard World: This is the lower version of the credit cards, and comes with 5000 miles after first transaction, and 4 miles for every INR 200 of eligible spend. The joining fee is INR 3,500 and the annual fee from the second year is the same. Axis Bank is offering another 5000 miles as a signup bonus if you sign on before April 15, 2014. Additionally, if you spend about INR 3 Lakhs on the card in the first 3 months, you get a bonus of another 10000 award miles.
- M&M Axis Bank MasterCard World Select: This is the higher version of the two, and comes with 15,000 miles after the first transaction, and 6 miles for every INR 200 of eligible spend. The joining fees for the first year is INR 10,000 and the annual fee from the second year is INR 4,500. Here, again, Axis Bank is offering another 5000 miles as a signup bonus of your sign on before April 15, 2014. If you spend about INR 5 Lakhs on the card in the first 3 months, you get a bonus of another 20000 award miles. If you are a HON Circle member with Lufthansa, you get the added benefit of another 10,000 bonus M&M miles as well for signing up.
The good part is, that for Lufthansa frequent flyers (i.e., Miles & More members), there is a rebate on the joining fee as well. HON Circle & Senator members get the card for free, while Frequent Traveller members get 50% off on the card fee during the offer period. Here are the complete T&C of this promotion.
More details are there in my earlier post for the same offer in Q1 2014.
Like readers know, I won’t be signing up for this offer at the moment. There is only so much card fees I’d like to pay in a year and I don’t see much value in collecting Miles & More miles at this moment because I am concentrating on accumulating Air India, Jet Airways and PremierMiles.
- Miles & More/Axis Bank offer upto 50,000 miles bonus
- Lufthansa ties up with Axis Bank for Miles & More co-branded card