Axis Magnus Credit Card: India’s Best Premium Credit Card

The Axis Magnus Credit Card is a premium credit card that gives great benefits in various areas. It lets you earn rewards at a high rate of 6%, and you earn even more when you spend over Rs. 1.5 Lakh in a month. This card is great for people who spend a lot. You also get unlimited access to both domestic and international airport lounges, special VIP services at the airport, and movie benefits worth up to Rs. 2,500 each month. Plus, you can get up to a 40% discount at select restaurants.To apply for this card, you need to be an Indian resident with an annual income of Rs. 18 Lakh or more.Here is all you need to know about Axis Magnus Credit Card and how it compares with other premium cards in the market.

Key Highlights of Axis Bank Magnus Credit Card

Axis Bank Magnus Credit Card
Best Suited For Rewards & Travel
Joining Fee Rs. 12,500
Annual/ Renewal Fee Rs. 12,500
Welcome Benefit Get one complimentary domestic economy flight ticket or a Tata CLiQ voucher worth ₹10,000 upon successful activation of the card.
Travel Benefit Enjoy 8 complimentary end-to-end VIP concierge services at the airport and free unlimited international airport lounge access.
Dining Discount Get up to 40% discount at 4,000+ partner restaurants in India under the Dining Delights Program.
Best Feature Buy one movie/event ticket on BookMyShow and get up to Rs. 500 off on the second ticket (maximum of 5 tickets per month).

Welcome Benefit

  • The Axis Magnus Credit Card has a joining fee of Rs. 12,500 plus GST. However, they give you back the same amount in the form of a Luxe gift card, The Postcard Hotels voucher, or a Yatra voucher worth Rs. 12,500 when you make your first transaction within 30 days of getting the card.

Lounge Access and Other Travel Benefits

Axis Magnus Credit Card offers significant savings on travel expenses for users.

  • Unlimited complimentary international lounge access with Priority Pass, along with 8 additional guest visits per year.
  • Unlimited visits to specific domestic airport lounges for both the primary cardholder and add-on cardholders.
  • Enjoy 8 complimentary end-to-end airport concierge services.

While many super-premium credit cards provide unlimited complimentary lounge access, only a select few offer additional free visits for guests. Magnus, with its 8 free guest visits per year, is a valuable choice for frequent travelers. Additionally, the inclusion of airport concierge services at an annual fee of Rs. 12,500 sets it apart from most other cards in this category.

Movie Benefit:

Purchase one movie or event ticket on BookMyShow and receive a discount of up to Rs. 500 on the second ticket. This offer is applicable for a maximum of 5 tickets per month.

Dining Discount: Enjoy up to a 40% discount at over 4,000 partner restaurants across India through the Dining Delights Program.

Health & Wellness Benefits: Axis Magnus Credit Card provides insurance coverage and medical concierge services to its users.

Insurance Cover: Different insurance covers offered on this card are:

  • Purchase protection of up to Rs. 2 Lakh
  • Credit Shield of up to Rs. 5 Lakh
  • Insurance against Lost/Delayed Baggage & Personal Documents: Up to 500 USD
  • Lost card liability cover up to the credit limit

Global Travel and Medical Assistance: Cardholders can receive assistance with their travel needs, including pre-trip information, details on required inoculations and visa requirements, interpreter referrals, telephone medical advice, and more.

Medical Concierge Program: Users can access virtual health assistance for services like scheduling specialist appointments, receiving health coaching, tele-consultations, personalized oncology care, and more.

Second Medical Opinion: Cardholders can get second opinion and diagnosis from medical experts across world’s leading institutions.

Preventive Healthcare: Users get preventive healthcare packages from Metropolis and Dr. Lal Path Labs.

To avail any of the above medical services, cardholders should call on the concierge service at 1800 103 4962.

Rewards Benefits

With The Axis Magnus Credit Card, users can earn reward points as follows:

  • Earn 12 EDGE reward points for every Rs. 200 spent on cumulative monthly expenses up to Rs. 1.5 lakh.
  • Receive 35 EDGE reward points for every Rs. 200 spent on cumulative monthly expenses above Rs. 1.5 lakh.
  • Get 60 EDGE reward points for every Rs. 200 spent on the Travel EDGE portal, up to cumulative monthly expenses of Rs. 2 lakh.
  • Earn 35 EDGE reward points for every Rs. 200 spent on the Travel EDGE portal above monthly expenses of Rs. 2 lakh.

Exempted categories for EDGE rewards: Wallet, Rent, Priority Pass Fee, EMI, Utilities & Government Institution transactions.

Also read: Best Rewards Credit Cards in India

Redemption Value

Axis Magnus Reward Points can be transferred to select airline or hotel loyalty programs at a ratio of 5:2. This means for every 50,000 Axis EDGE Reward Points, you'll receive 20,000 partner miles.

Alternatively, you can redeem your accumulated reward points through the EDGE Rewards catalog, where you'll find a variety of vouchers across different categories. You can also use the 'Pay with Point' option at partner stores. The redemption value against the product catalog is 1 Axis EDGE Reward Point = Rs. 0.20, though this value may vary depending on the brand and voucher.

Transfer Reward Points to Airlines and Hotel Loyalty Programs

Eligible flights and hotels are:

  • Air France-KLM
  • Marriott International
  • Vistara
  • ITC
  • SpiceJet
  • Air Asia
  • Ethiopian Airlines
  • Etihad Airways
  • IHGR Hotels and Resorts
  • Qatar Airways
  • Singapore Airlines
  • Turkish Airlines
  • United Airlines

The base reward rate of 6% on The Axis Magnus Credit Card is one of the highest among premium credit cards. However, the card now has certain limits on reward earning. To maximize the card's earning potential, it's best to spend Rs. 1.5 lakh or more in a month. On the other hand, if you make travel bookings through the TRAVEL EDGE platform and keep your monthly spending below Rs. 2 lakh, you can save more.

Axis Bank has also changed the conversion rate of reward points on the Axis Magnus card from 5:4 to 5:2. However, if you have a Burgundy account with Axis Bank, you can still enjoy the 5:4 conversion rate.

Additionally, the milestone benefit of 25,000 bonus rewards for reaching Rs. 1 lakh in monthly spending has been discontinued. While higher reward rates are available, the new spending cap of Rs. 1.5 lakh may be too high for regular spenders.

Comparing Reward Earnings on Axis Magnus with HDFC Diners Club Black Credit Card and HDFC Infinia

Category Spends (in INR) Points – Axis Magnus Points – HDFC Diners Club Black Points – HDFC Infinia
Grocery 15,000 900 500 500
Apparel 20,000 1,200 666 666
Travel 20,000 1,200 666 666
Dining 10,000 600 333 333
Healthcare 15,000 900 500 500
Fuel 15,000 900 500 500
Others 5,000 300 166 166
Total 1,00,000 6,000 3,331 3,331

The redemption value on Axis Magnus is relatively lower compared to other premium cards like HDFC Infinia and Diners Club Black, which offer a higher value of 1 RP (Reward Point) = up to Rs. 0.50. Additionally, these cards allow cashback redemption at 1 reward point = Rs. 0.30, a feature that Axis Magnus does not provide. As a result, if you're looking for better value on redemption options beyond travel, you might want to consider HDFC Infinia or Diners Club Black.

However, if you are a high spender and primarily intend to redeem rewards for travel bookings, Axis Magnus can be a strong choice compared to other cards.

Here are some of the other fees and charges associated with the Axis Magnus Credit Card:

Fees / Charges Amount
Joining Fee Rs. 3,000
Annual Fee Rs. 12,500 (Waived off on annual spends of Rs. 25 Lakh)
Foreign exchange mark-up fee 2%
Cash withdrawal fee Nil
Finance Charges 3.0% p.m. (42.58% p.a.)
Late Payment Charges** For Statement Balance
  • Less than Rs. 500: Nil
  • From Rs. 501 to Rs. 5,000: Rs. 500
  • From Rs. 5,001 to Rs. 10,000: Rs. 750
  • Greater than Rs. 10,000: Rs. 1,200

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The common eligibility criteria and documentation required to apply for Axis Magnus Credit Card:

Criteria Details
Age Requirement 18 to 70 years
Occupation Salaried and Self-employed
Minimum Income Required Rs. 18 lakh p.a.
Documents Required Click here for the list of acceptable documents

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Axis Magnus Credit Card offers a generous reward rate, unlimited lounge access, movie and dining benefits, and other premium privileges.

1. A generous reward rate of 12 EDGE Rewards for every Rs. 200 spent for monthly expenses up to Rs. 1.5 lakh and 35 EDGE Rewards for monthly expenses above Rs. 1.5 lakh. 2. 8 additional guest visits free, in addition to unlimited international lounge access for the primary cardholder. 3. The ability to transfer EDGE Reward Points to multiple airlines and hotel loyalty programs. 4. Access to Luxury Airport Concierge and Medical Concierge services.

You should consider getting this card if:

  • You are a high spender and would be able to earn substantial reward points per month
  • You would be able to reach the annual spending threshold of Rs. 25 Lakh to get the annual fee waiver
  • You are a frequent traveller looking for free lounge visits and other travel benefits

Here are some of the Best credit cards that provide benefits similar to theAxis Magnus Credit Card:

Credit Cards Annual Fee (in INR) Key Feature
HDFC Diners Club Black Credit Card Rs. 10,000 Complimentary Annual memberships of Club Marriott, Forbes, Amazon Prime, Swiggy One, MMT BLACK and Times Prime
HDFC Infinia Credit Card* Rs. 12,500 Complimentary Club Marriott membership for first year; unlimited lounge access for primary and add-on members
SBI Aurum Credit Card* Rs. 10,000 Unlimited international lounge access; Low foreign currency markup fee of 1.99%
IndusInd Bank Legend Credit Card Nil Complimentary Priority Pass Membership for primary and add-on cardholders which gives access to 700+ lounges across the world
ICICI Emeralde Credit Card Rs. 12,000 Unlimited complimentary international and domestic lounge visits

How to Maximize Savings on Axis Bank Magnus Credit Card?

To maximize the benefits on your Axis Bank Magnus Credit Card, consider the following strategies:

(i) Accumulate maximum reward points: Put most of your expenses on your credit card to earn 35 Axis EDGE points for every Rs. 200 spent. For instance, if you spend approximately Rs. 2,10,000 a month on major categories like groceries, apparel, consumer durables, etc., you can accumulate around 36,750 points in a month. Spending this amount might also help you achieve the annual fee waiver of Rs. 25 lakh, giving you an additional benefit of Rs. 12,500. Note that you can earn 35 points for every Rs. 200 only when you spend beyond Rs. 1.5 lakh; otherwise, you will earn 12 points per Rs. 200. To maximize the benefits, prioritize putting most of your everyday and luxury expenses on this card. (ii) Use the TRAVEL EDGE Platform for travel bookings: For travel expenses up to Rs. 2 lakh in a month on the Axis EDGE rewards portal, you earn 60 points for every Rs. 200. For spends above Rs. 2 lakh, you earn 35 points. Plan your travel bookings accordingly to maximize this feature. If your travel expenses are within Rs. 2 lakh, it's easy to maximize this benefit. However, if your expenses exceed this amount, consider booking up to Rs. 2 lakh in a month and saving the rest for another month. This approach can be particularly effective if you plan your travel well in advance and have several months before your vacation. (iii) Utilize rewards for Air Miles or Hotel Loyalty Points: The card provides the highest value when you redeem reward points for travel. You can achieve a high redemption value by transferring the points at a 5:2 ratio to a flight or hotel loyalty program. In comparison, if you redeem the points against the product catalog, you typically get a value of Rs. 0.20 for 1 Axis EDGE point. For example, if you accumulate 96,750 reward points in a month, you can amass a total of 11,61,000 points in a year, following these scenarios: - 36,750 points by spending Rs. 2,10,000 in a month - 60,000 points by spending Rs. 2 lakh a month on the Travel Edge platform Now, out of the total accumulated points, you can use 5 lakh points for converting them into partner loyalty points. For these 5 lakh rewards, you receive around 2 lakh points. Transferring just 5 lakh points to air miles will yield you 2 lakh miles, which offer a better value compared to converting all 11,61,000 points into the product catalog at a value of 1 point = Rs. 0.20. These loyalty points can be directly used for flight ticket bookings. For example, if you use the loyalty points with Vistara Airlines, you can use them as follows for direct award flight bookings when traveling from Delhi to London: - Economy Class: 30,000 CV Points - Premium Economy: 55,000 CV Points - Business Class: 1,20,000 CV Points

With 2 lakh loyalty points, you can obtain up to 6 economy class flight tickets, 3 premium economy tickets, or 1 Business Class ticket.

Please note: The redemption value of CV Points is based on the Vistara Airlines website as of April 2024, and is subject to change at the airline's discretion. Additionally, the example provided is for Delhi to London one-way flights; savings may vary for other destinations or connecting flights.

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Axis Bank has introduced revised features and benefits for The Axis Magnus Credit Card, effective from April 2024, as listed in the table below:

Category Existing Features Revised Features effective 1st Sep 2023
Welcome Benefit 1 complimentary domestic flight ticket or a Tata CLiQ voucher worth Rs. 10,000 Luxe gift card/ The Postcard Hotels/ Yatra voucher worth Rs. 12,500
Annual Fee Rs. 12,500 Complimentary Club Marriott membership for first year; unlimited lounge access for primary and add-on members
Annual Fee Waiver Waived off on annual spends of Rs. 15 Lakh Waived off on annual spends of Rs. 25 Lakh
Annual Benefit Complimentary voucher worth Rs. 10,000 Discontinued
Monthly Milestone Benefit 25,000 EDGE reward points worth Rs. 5,000 on spending Rs. 1 Lakh Discontinued
EDGE Rewards
  • 12 Axis EDGE reward points on spends of every Rs. 200
  • 60 EDGE reward points on every Rs. 200 spent via Travel EDGE portal
  • 12 EDGE reward points on every Rs. 200 spent on cumulative monthly spends of up to Rs. 1.5 lakh
  • 35 EDGE reward points per Rs. 200 spent above cumulative monthly spends of Rs. 1.5 lakh
  • 60 EDGE reward points per Rs. 200 spent on Travel EDGE portal, up to cumulative monthly spends of Rs. 2 lakh
  • 35 EDGE reward points per Rs. 200 spent on Travel EDGE portal, above monthly spends of Rs. 2 lakh
EDGE Rewards Exclusion No reward points on wallet, rent, Priority Pass fee and EMI transactions No reward points on wallet, rent, Priority Pass fee, EMI, utilities & government institution transactions
Milestone Transfer 5 EDGE Reward Points = 4 Partner Points/ Miles (5:4)
  • 5 EDGE Reward Points = 2 Partner Points/ Miles (5:2)*
  • Maximum capping on converting rewards into partner points is 5,00,000 EDGE reward points in a year
  • Cardholders can link only 1 partner loyalty program at a time for airline/ hotel transfer partners

*Cardholders can continue to earn the conversion ratio of 5:4 under a special offer by opening a Burgundy account by contacting the bank after April 2024.