By Rajat Gaur
Updated On October 8, 2021

Axis Bank launched the Magnus credit card in September 2019 in partnership with MasterCard. It is a super-premium offering by the bank targeted at high-net-worth individuals who want to enjoy the privilege of a luxurious lifestyle. From dining and travel to medical and insurance benefits, the card comes packed with all kinds of privileges that one expects from a premium credit card. At 2.5% pm, the interest rate for this card is also quite low, and keeping in mind the international transaction needs of their premium customers, the bank has also kept the Forex Mark up fee fairly low ( just 2%).

Moreover, there are no cash withdrawal charges on the card. Although the annual fee of the card is quite high, you can get it waived off by spending 15 lakhs or more in the previous year and save Rs. 10,000. Read on to learn more about this super-premium offering by Axis Bank.

Best Suited For

Travel | Shopping |

Joining Fee

Rs. 10,000 + GST

Reward Type

Reward Points |

Product Details

  • 1 complimentary domestic flight ticket or a Tata CLiQ voucher worth Rs. 10,000 as a welcome/annual gift.
  • 12 Axis EDGE REWARDS Points for every Rs. 200 spent with the card.
  • 2x Axis EDGE REWARDS Points on MakeMyTrip, Yatra, Goibibo, and others.
  • Unlimited domestic airport lounge access every year.
  • 8 complimentary international lounge visits every year with Priority Pass.
  • Discounted stays at Oberoi Hotels.
  • Buy one and get up to Rs. 500 off on the next BookMyShow ticket (max 5 times a month).
  •  25% discount at over 2,000 restaurants with Dineout passport.
  • Travel-related insurance benefits including an air accident cover worth Rs. 4.5 crore.
  • Credit Shield cover (against misuse of the card) worth Rs. 5 lakh and purchase protection worth Rs. 2 lakh.
  • Medical benefits including a medical concierge, second medical opinion, preventive healthcare diagnostic programs, and global travel and medical assistance.
  • Lower interest rate (2.5% pm) and foreign currency mark-up (2%) and zero cash withdrawal fee.
  • 24×7 dedicated concierge service for assistance regarding flight bookings, hotel reservations, gift deliveries, etc.

Rewards and Benefits

Welcome Benefits

Choose any one- Tata Cliq voucher or a complimentary domestic flight ticket worth Rs. 10,000.

Movie & Dining

Buy one and get up to Rs. 500 off on the next movie/non-movie ticket on BookMyShow (max 5 times a month), 25% off at 2,000+ restaurants across India.

Rewards Rate

12 Axis EDGE REWARDS Points for every Rs. 200 spent with the card, 2X Points on MakeMyTrip, Yatra, Goibibo, etc.

Reward Redemption

Axis EDGE REWARDS Points can be redeemed on the EDGE REWARDS portal at a value of 1 Edge Reward = Re. 0.20.

Travel

Unlimited domestic airport lounge access, 8 complimentary international airport lounge access per year, airport concierge service and discounts on stays at Oberoi Hotels.

Golf

N/A

Domestic Lounge Access

Unlimited domestic airport lounge access

International Lounge Access

8 complimentary international airport lounge access every year with Priority Pass

Insurance Benefits

Travel-related insurance benefits including an air accident cover worth Rs. 4.5 crore, Credit shield protection worth Rs. 5 lakh (in case of loss of card) and a purchase protection worth Rs. 2 lakh.

Zero Liability Protection

Credit shield cover worth Rs. 5 lakh, liability protection up to the card’s credit limit.

Fees & Charges

Joining Fee

Rs. 10,000 + GST

Renewal Fee

Rs. 10,000 + GST

Spend based Waiver

Annual fee waived off on expenditure of Rs. 15 lakh in the preceding year.

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

2% + GST

Interest Rates

2.5% per month (34.49% annually)

Fuel Surcharge

1% fuel surcharge waived off at all fuel stations across India

Cash Advance Charge

Nil

Add-on Card Fee

Nil

Axis Bank Magnus Credit Card Welcome Benefits:

You get a complimentary domestic flight ticket or a Tata CLiQ voucher worth Rs. 10,000 with this credit card. You get these benefits every year when the card membership is renewed. It should be noted that you can not get both these benefits, you have to pick one of the two.

Axis Bank Magnus Credit Card Rewards:

  • You get 12 Axis EDGE REWARDS Points for every Rs. 200 spent with the card.
  • You get 2x Axis EDGE REWARDS Points on select travel portals including MakeMyTrip, Yatra, Goibibo, etc.

Reward Redemption:

You can redeem the Axis EDGE REWARDS Points for instant vouchers, gifts, gadgets, fashion accessories, etc. on the Axis EDGE REWARDS redemption portal. 1 Edge Reward = Re. 0.20.

Travel Benefits:

  • Unlimited lounge access at select domestic airports across India.
  • 8 complimentary international airport lounge access with Priority Pass membership.
  • Up to 15% discount on stays at Oberoi hotels & a complimentary room upgrade.
  • Airport concierge service with 8 complimentary VIP assistance services for assistance regarding airport processes including check-in, security check, immigration processes, and porter services.

Movie & Dining Benefits:

  • Buy one movie/non-movie ticket from BookMyShow and get Rs. 500 off on the next ticket. This discount can be availed for a maximum of 5 times a month.
  • 25% discount on dining bills at over 2,000 partner restaurants in the country with the Dineout Passport membership.
  • 20% discount at 4,000+ restaurants across India under the Axis Bank Dining Delights program.

Medical Services:

  • Medical concierge service with virtual health assistance including specialist appointments, teleconsultations, home quarantine programs, personalized oncology care, etc.
  • Get a second medical opinion from a panel of world-class medical practitioners.
  • Preventive health care packages from Dr. Lal PathLab, Metropolis, and SRL diagnostics.
  • To avail of these benefits, you need to call the concierge at 1800 103 4962.

Insurance Benefits:

Category Insurance Coverage
Accidental air death Rs. 4.5 crores
Purchase Protection Rs. 2 lakhs
Credit shield Rs. 5 lakhs
Credit liability Up to the card limit
Lost/delayed baggage US $500

24×7 Dedicated Concierge Service:

You may call the 24×7 dedicated concierge service at 1800 103 4962 for assistance regarding flight bookings, restaurant table reservations, exclusive events/shows, gift deliveries, and more.

Low Fees and Charges:

As it is a premium credit card, you get special benefits on the applicable fees and charges-

  • A lower interest rate of 2.5% per month (or 34.49% annually).
  • Lower than usual foreign currency mark-up fee of 2% of the transacted amount.
  • Zero cash withdrawal fee.

Fuel Surcharge Waiver

1% fuel surcharge waived off for transactions between Rs. 400 and Rs. 4,000 at all fuel stations across India. The maximum waiver is capped at Rs. 400 per month.

Spends Based Waiver:

The annual membership fee of the card is waived off on an expenditure of Rs. 15 lakh in the preceding year.

Axis Bank Magnus Credit Card Eligibility Criteria:

To be eligible for this card-

  • Your age must be between 18 years and 70 years for primary cardholders, and above 18 years for add-on cardholders.
  • Your annual income must be at least Rs. 18 lakh (for both salaried and self-employed applicants).

How to apply:

You can apply for Axis bank credit cards online on their official website or by visiting your nearest Axis Bank branch. You’ll need to submit a few documents in order for your application to be processed- an identity proof (like Aadhar card, Voter card, PAN card, etc.), an address proof (like Aadhar card, Voter card, driving license, utility bills, etc.) and proof of income (salary slips for salaried applicants and audited ITR acknowledgment for the self-employed).

Customer Care:

For any queries/assistance regarding the credit card, you may dial Axis bank’s retail phone banking numbers- 1860 419 5555 or 1860 500 5555. To block your card, you may contact the 24×7 helpline at +91 22 67987700.

Conclusion:

If we look at the benefits and the membership fee of the card, it seems to be a fairly good option, as far as the premium segment is concerned. You get a low interest rate, a lower than usual foreign currency mark-up fee, and many other attractive dining and travel benefits. The card is very much similar to HDFC’s Infinia and ICICI’s Emerald cards. One feature that differentiates this card from the other two is the extra medical benefits that it offers. Before you make up your mind, it’s better to read about the benefits that its competitors- HDFC Infinia and ICICI Emeralde offer.

What do you think of this super-premium credit card by Axis bank? And how does it stack up against the competition from HDFC and ICICI? Do let us know in the comments below. If you’re an existing customer, feel free to share your experience for the benefit of others.

FAQs:

The Axis EDGE REWARDS Points are valid for three years from the date of accural.

No, you can not redeem your Axis EDGE REWARDS Points for paying your credit card bills.

No. You have to make a choice between the complimentary domestic flight ticket and a Tata CLiQ voucher worth Rs. 10,000.

Yes, this card does support contactless payment.

You get unlimited complimentary domestic lounge access and 8 complimentary international lounge access every year with this credit card.

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