Axis Bank Magnus Credit Card

The Axis Bank Magnus Credit Card is a premium lifestyle credit card designed for high-net-worth individuals seeking luxury, rewards, and exclusive travel benefits. This super-premium card caters to affluent customers with sophisticated spending habits, offering comprehensive rewards across travel, dining, entertainment, and everyday purchases. With its accelerated EDGE Rewards program and unlimited lounge access, the Magnus card positions itself as a premium travel companion.The card features a tiered rewards structure where cardholders earn 12 EDGE Reward Points per ₹200 on spends up to ₹1.5 lakhs monthly, and an accelerated 35 EDGE Reward Points per ₹200 on incremental spends above ₹1.5 lakhs. Additional benefits include complimentary domestic flight tickets, airport concierge services, dining privileges at over 4,000 restaurants, and comprehensive insurance coverage, making it an ideal choice for those who value premium experiences and travel frequently.

Axis Bank Magnus Credit Card

Joining Fees	12500
Annual Fees	12500
Card Type	Cashback, Rewards
Network Type	Visa

Rewards & Benifits

Accelerated EDGE Rewards: Earn 12 EDGE Reward Points per ₹200 on spends up to ₹1.50 Lakhs per calendar month
Enhanced Rewards Rate: Earn 35 EDGE Reward Points per ₹200 on incremental spends above ₹1.50 Lakhs in a calendar month
Travel EDGE Bonus: Earn 5X EDGE Rewards on travel spends via Travel EDGE portal (60 EDGE Reward Points per ₹200 spent up to ₹2 Lakhs per month)
Miles Transfer Program: Transfer EDGE Reward Points to 20 domestic and international airline and hotel loyalty partners (2 partner miles for every 5 EDGE Reward Points)
Unlimited International Lounge Access: Enjoy unlimited complimentary international lounge visits per year with Priority Pass card, plus 4 additional guest visits per card anniversary year
Unlimited Domestic Lounge Access: Access select domestic airport lounges unlimited times for both primary and add-on cardholders (minimum spend of ₹50,000 required in last 3 months from May 1, 2024)
Airport Concierge Services: Avail 8 complimentary end-to-end VIP assistance services annually at 29 airports across India including check-in, immigration, security, and porter services
Dining Delights: Enjoy up to 30% discount at over 4,000 restaurants across India through Axis Bank Dining Delights program
Hotel Discounts: Get up to 15% off on bookings at domestic and international Oberoi and Trident hotels
BookMyShow Offers: Buy one ticket and get up to ₹500 off on second ticket for maximum 5 bookings per month
Purchase Protection: Insurance cover of ₹2 Lakhs on purchases made with the card
Credit Shield: Card protection insurance cover worth ₹5 Lakhs
Travel Insurance: Cover for loss/delay of baggage and personal documents worth USD 500

Fees & Charges

Joining Fee: ₹12,500 + GST
Annual Fee: ₹12,500 + GST (waived on spends of ₹25 Lakhs or more in the preceding card anniversary year, excluding rent, wallet, utilities, government institutions, EMI conversions, cash withdrawals, reversals, fees, insurance, gold/jewellery, and fuel from September 1, 2023)
Add-on Card Fee: Not specified on the official page
Finance/Interest Charges: 3% per month on extended credit (approximately 36% per annum) on unpaid balances
Cash Withdrawal Fee: No cash withdrawal fee charged (interest charges applicable)
Late Payment Fee: Applicable as per bank's schedule based on outstanding amount
Over-limit Fee: 2.5% of over-limit amount (minimum ₹500)
Foreign Currency Markup: 2% + GST on international transactions
Dynamic Currency Conversion (DCC) Markup: 1% + taxes on transactions made in INR at international locations
Fuel Surcharge Waiver: 1% waiver for transactions between ₹400 to ₹4,000 (capped at ₹400 per month; on certain fuel transactions, surcharge may be levied as ₹10 + GST instead of 1% + GST)
Rent Transaction Fee: Not specified on the official page
Cheque Return/Dishonour Fee: 2% of payment amount (minimum ₹450, maximum ₹1,500)
Cash Payment at Branches: ₹100

Card Details

Product Details

Credit Limit: Determined based on bank's policy and applicant's creditworthiness
Interest-Free Period: 20 to 50 days depending on transaction date relative to statement generation
EDGE Reward Points Value: 1 EDGE Reward Point equals ₹0.20 in cash value
Rewards Transfer Cap: Transfer up to ₹5 Lakh EDGE Reward Points to 20 travel partners in a calendar year
Excluded Categories from Rewards: Utilities and telecom (MCCs 4814, 4816, 4899, 4900), rent (capped at ₹50,000 per month), government institutions (MCCs 9222, 9311, 9399, 9402), wallet recharge (MCC 6540), insurance, gold and jewellery, fuel, cash advances, EMI conversions, and repayments
Network: Visa Infinite platform
Card Material: Available in metal form factor
Add-on Cards: Available with same lounge access benefits as primary card
Domestic Lounge Eligibility: Requires minimum spend of ₹50,000 in last 3 calendar months (effective from May 1, 2024)
EMI Conversion: Available for converting purchases into easy monthly installments
Card Validity: Terms and conditions updated effective from June 20, 2025

Pros & Cons

Pros

Premium Rewards Structure: Industry-leading 35 EDGE Reward Points per ₹200 on spends above ₹1.5 lakhs monthly
Unlimited Lounge Access: Unlimited domestic and international airport lounge access for frequent travelers
No Cash Withdrawal Fees: Zero charges on cash withdrawals unlike most premium cards
Airport Concierge Services: 8 complimentary VIP assistance services annually at major airports
Comprehensive Insurance: ₹5 Lakhs credit shield, ₹2 Lakhs purchase protection, and travel insurance coverage
Attractive Welcome Benefits: Choice of gift voucher worth ₹12,500 from Luxe, Yatra, or Postcard Hotels
Lower Foreign Markup: Only 2% forex markup compared to standard 3.5% on most cards
Extensive Dining Benefits: Up to 30% discount at 4,000+ restaurants through Dining Delights program
Miles Transfer Flexibility: Convert rewards to 20 airline and hotel loyalty partners
Metal Card: Premium Visa Infinite metal card adds prestige

Cons

Very High Fees: ₹12,500 + GST annual fee requiring ₹25 lakhs annual spend for waiver
High Income Requirement: Need ₹24 lakhs annual salary or ITR, limiting accessibility
Multiple Exclusions: No rewards on utilities, rent (above ₹50,000), insurance, fuel, wallet, gold/jewellery, and government spends
Base Rewards Rate: Only 12 EDGE Points per ₹200 (6% return) below ₹1.5 lakhs monthly spend is moderate
Domestic Lounge Restrictions: Requires minimum ₹50,000 spend in last 3 months from May 2024
Complex Rewards Structure: Tiered earning with multiple exclusions can be difficult to track
Limited Guest Access: Only 4 international guest lounge visits per year (revised from 8)
High Spending Required: Need to spend above ₹1.5 lakhs monthly to unlock best rewards rate
Reward Redemption Complexity: Best value only through miles transfer to partners, not direct redemption

ELIGIBILITY CRITERIA

Age: Primary cardholders must be between 18 and 70 years of age

Income: Net salary of ₹24 lakhs per annum or net annual Income Tax Return filed for ₹24 lakhs

Residency: The individual should be a resident of India

Credit Score: Not specified on the official page

Employment Type: Available for both salaried and self-employed individuals with regular income

Existing Customers: Available to both new and existing Axis Bank customers

Add-on Card Eligibility: Not specified on the official page

Note: The above criteria are only indicative. The bank reserves the right to approve or decline applications for Axis Bank Magnus Credit Card. Additional verification and credit assessment will be conducted by the bank.

WELCOME BENEFITS

Choice of Gift Voucher Worth ₹12,500: Upon card activation, cardholders can choose one welcome benefit voucher from the following options:

Luxe Gift Card worth ₹12,500
Postcard Hotels gift voucher worth ₹12,500
Yatra gift voucher worth ₹12,500

Redemption Terms:

Welcome benefit voucher must be redeemed after making the first successful spend transaction on the card within 30 days from card issuance date
Cardholders will receive an SMS within 3-5 working days with steps to avail the benefit
The welcome benefit voucher must be availed within 6 months from the card issuance date
Welcome benefit is applicable only for paid cards (customers who have paid the joining fee)
Not applicable for customers upgraded from Magnus to Magnus Credit Card for Burgundy

Note: For Magnus Credit Card for Burgundy holders, the welcome benefit is a voucher worth ₹5,000 (not applicable for customers upgraded from regular Magnus to Magnus for Burgundy).

CARD REVIEW

The Axis Bank Magnus Credit Card is best suited for high-income individuals earning ₹24 lakhs or more annually who are frequent travelers and heavy spenders. The card offers excellent value for money if you consistently spend above ₹1.5 lakhs monthly to unlock the accelerated 35 EDGE Reward Points earning rate and can meet the ₹25 lakhs annual spend threshold for fee waiver. The unlimited lounge access, airport concierge services, and comprehensive insurance coverage justify the premium positioning. However, the card has significant limitations including high joining and annual fees, multiple category exclusions from rewards (utilities, rent above ₹50K, insurance, fuel, gold), and domestic lounge access now requiring ₹50,000 minimum quarterly spend. The card works best for affluent travelers who can maximize the rewards transfer to airline partners and utilize the premium travel benefits regularly.

Platform

Platform Overview

Skara Financial Services

Personal Loan

Home Loan

Business Loan

Vehicle Loan

Axis Bank Magnus Credit Card