AU Fi MagniFi Credit Card

Not every card is designed for luxury travel or airport lounges. Some are built for everyday spending habits or, more specifically, for weekend habits. AU Small Finance offers other lifetime-free cards with cashback, but their target audience is those who spend mostly on weekends.

For instance, AU Bank’s InstaPay is focused primarily on UPI transactions and provides 1% direct cashback on UPI spending on department stores, groceries, and pharmacies. Fi Magnifi is different; it rewards consumers who spend more on weekends, whether for shopping, dining, or entertainment. Despite its complex, rewarding formula, it works on a simple principle: spend on the right days and earn better value.

The card is co-created with Fi Money, AU Bank’s digital banking partner, and is primarily aimed at young professionals, first-time cardholders, and value-conscious users.

Product Details

• Earn 20 Fi Points per ₹100 spent on weekends and 2 Fi Points per ₹100 spent on weekdays.
• 20% discount on weekends spent on BookMyShow, Zepto, Amazon, and Zomato.
• Fi points can be used for air miles, bill payments, and gift vouchers. If eligible, you may also get 50% off on-air vouchers.
• A maximum of 2,000 Fi-points can be earned per statement cycle using this weekday reward.

Fees & Charges

One of the biggest highlights of the AU Fi MagniFi Credit Card is its lifetime-free structure. Here are the highlights, which explain the fee structure.

• No joining fees
• No Annual or renewal fee

This fee structure actually empowers and targets new-to-credit-card consumers. It makes it easier to maintain, even for the young professionals who have just got a job or are self-employed.

Rewards And Benefits

This card follows a day-based reward structure, which is uncommon in the Indian card space. And consumers will be rewarded based on the day they spent their money.

Here are a few ways you can redeem your Fi points exclusively on the Fi Money app:

• Statement Credit
• Travel Bookings
• Conversion to Air Miles
• 50% Discount on Vouchers

Travel And Lifestyle Benefits

This card is not a premium travel or lifestyle card. It shifts away from focusing on luxury value and instead enhances the customer’s overall purchasing power with every transaction. For users seeking lounges or premium travel perks, higher-tier cards from other banks may be more suitable. However, there are certain places where this entry-level card could be very useful; below is a list of those places where making a transaction could translate into a significantly high return.

• Users who shop, dine, or go out mostly on weekends
• First-time credit card users (although it is meant for first-time credit card users, remember to check the eligibility criteria.
• Young professionals with moderate spending
• Consumers who want a no-fee card where the rewards can be expected based on their spending

You can convert the Fi points on this card into air miles, but it might not be ideal for frequent travellers, international spenders, or users looking for premium privileges. This is because the card is not optimised for earning airline miles; instead, it offers better value in cashback and has a higher direct value for statement credits or vouchers.

Bottom Line

The AU MagniFi Credit Card does not compete with premium cards that provide luxury travel benefits or access to exclusive lounges. Instead, it offers straight value for weekend spenders, backed by a zero-fee structure. It is a solid everyday card for a specific user segment. The negligible limitations of the card can be outweighed by the number of rewards it offers.