Axis Bank Magnus Credit Card benefits
- Rewards12
EDGE Reward points per ₹200 on spends up to ₹1.5 lakh a month
- Rewards35
EDGE Reward points per ₹200 on spends above ₹1.5 lakh a month
- Lounge
Unlimited international lounge visits with Priority Pass, plus 4 guest visits a year
- Lounge
Unlimited visits to select lounges in India, on spends of ₹50,000 in the previous 3 months
- Gift
One voucher worth ₹12,500 as a welcome benefit
Good to know
- 2% forex markup on foreign transactions
Axis Bank Magnus Credit Card rewards and cashback
| Where you spend | Rate | Monthly limit |
|---|---|---|
| Everything else | 6 points per ₹100 | None |
| Spends above ₹1,50,000 a month35 EDGE Reward points per ₹200 on spends above ₹1.5 lakh in a calendar month, up to your credit limit plus ₹1.5 lakh. | 17.5 points per ₹100 | None |
We value one point at ₹0.2 in the usual redemption.
No rewards on: Utility and telecom, rent, wallet, government spends, insurance, gold and jewellery, fuel, cash advances, repayments, gift cards, and bridge, road and toll fees.
All reward rules
- Axis Bank gives 12 EDGE Reward points per ₹200 on spends up to ₹1.5 lakh in a calendar month, which is 6 points per ₹100. Above ₹1.5 lakh in the month, spends earn 35 points per ₹200, and our maths counts both rates.
- We use ₹0.20 per point, the value in Axis Bank's terms. The bank says this value can differ by card, so please check it for this card.
- You can also move points to 20 travel partners at 2 partner miles for every 5 points. Yearly transfer limits apply: 1 lakh points to Group A partners and 4 lakh points to Group B partners.
- Spends through Travel EDGE earn 5X reward points.
- Welcome benefit: choose one voucher worth ₹12,500 from Luxe, The Postcard Hotels or Yatra.
What the Axis Bank Magnus Credit Card gives back in a year
Say you spend ₹1,90,000 a month. Worked out with the same maths as the calculator above.
| Spending | A month | Back | A year |
|---|---|---|---|
| Groceries | ₹19,000 | 1.48% | ₹3,380 |
| Dining and food delivery | ₹12,700 | 1.48% | ₹2,259 |
| Online shopping | ₹1,14,000 | 1.48% | ₹20,280 |
| Travel | ₹6,300 | 1.48% | ₹1,121 |
| Fuel | ₹6,300 | 0% | ₹0 |
| Bills and utilities | ₹12,700 | 0% | ₹0 |
| Everything else | ₹19,000 | 1.48% | ₹3,380 |
| Total | ₹1,90,000 | ₹30,420 | |
| Renewal fee with GST | −₹14,750 | ||
| You keep | ₹15,670* |
Spend ₹2,20,000 more in the year and the renewal fee is waived.
Axis Bank Magnus Credit Card annual fee and charges
- Joining fee
- ₹12,500
- Annual fee
- ₹12,500
- Fee waiver
- ₹25,00,000 a year
- Foreign currency markup
- 2%
The annual fee is waived on eligible spends of ₹25 lakh in the preceding card year. Insurance, gold and jewellery, and fuel do not count. Fees are before GST. Salary account customers on the Burgundy programme may get a lifetime free version on separate terms.
Fuel surcharge: 1% fuel surcharge waiver on transactions of ₹400 to ₹4,000, up to ₹400 a month.
Axis Bank Magnus Credit Card eligibility
- Age
- 18 to 70
- Salaried income
- ₹24,00,000 a year
- Self-employed income
- ₹24,00,000 a year
Applicants need a net salary of ₹24 lakh a year, or a net annual income tax return of ₹24 lakh, and must live in India. Axis Bank says the criteria are only indicative.
The bank alone decides approval and your credit limit.
Axis Bank Magnus Credit Card lounge access
The bank's terms list no fixed number of free airport lounge visits on this card.
Lounge access has no fixed count. Axis Bank gives unlimited visits to select lounges in India, on spends of ₹50,000 in the previous 3 months, and unlimited international visits with Priority Pass. Both include 4 guest visits a year.
Is the Axis Bank Magnus Credit Card right for you?
A card with a ₹12,500 fee that spending can waive, paying an above-average 1.2% on most spends.
Worth its fee if you spend about ₹1,14,000 a month or more. Below that, the ₹12,500 fee costs more than the card gives back on spending like the example above.
Good for you if
- You spend ₹25,00,000 a year or more (about ₹2,08,400 a month), so the ₹12,500 renewal fee is waived.
- You pay in foreign currency, abroad or on foreign websites: the markup is 2%, against a typical 3.5% on the cards we list.
Not for you if
- You spend less than about ₹2,08,400 a month: you would pay ₹14,750 a year with GST.
- Much of your spending is on bills and utilities: this earns no rewards.
Check the latest fees and terms on the bank's page before you apply.
Alternatives to Axis Bank Magnus Credit Card
Two similar cards to weigh up before you apply. The last column shows what each may be worth on ₹30,000 a month of mixed spending, after the renewal fee with GST. Rates paid only at named brands are not counted, so a brand card can earn more if you shop there.
| Card | Annual fee | Rewards up to | You keep a year |
|---|---|---|---|
| Axis Bank Magnus Credit Card | ₹12,500 | 3.5% | -₹11,294* |
| HSBC Premier Credit Card | Free | 3% | ₹9,720* |
| BOBCARD ETERNA Credit Card | ₹2,499 | 3.75% | ₹7,470* |
If most of your spending looks like the example above, the HSBC Premier Credit Card may suit you better: it would leave you ₹66,132 a year, against ₹15,670 with the Axis Bank Magnus Credit Card.
*Estimate only, not a promise. We work it out from the bank's published terms and the spending you enter. What you actually get depends on the bank, your transactions and any change in its terms.
Frequently asked questions
What is the annual fee of the Axis Magnus Credit Card?
The annual fee is ₹12,500 before GST. It is waived on eligible spends of ₹25 lakh in the preceding card year.
Is the Axis Magnus Credit Card lifetime free?
Not under the standard terms. Axis Bank offers a lifetime free version only to eligible Burgundy Salary Account customers.
How many reward points does the Axis Magnus Credit Card give?
It gives 12 EDGE Reward points per ₹200 on spends up to ₹1.5 lakh in a calendar month. Spends above that earn 35 points per ₹200, up to your credit limit plus ₹1.5 lakh.
Which spends do not earn reward points on Axis Magnus?
Utility and telecom, rent, wallet, government, insurance, gold and jewellery, fuel, gift cards, and bridge, road and toll fees earn no points.
What is the eligibility for the Axis Magnus Credit Card?
The primary cardholder must be 18 to 70 years old, live in India, and have a net salary or income tax return of ₹24 lakh a year.