By Rajat Gaur
Updated On September 20, 2022

Axis Bank launched the Magnus credit card in September 2019, which is issued in both, MasterCard & Visa credit card networks. It is a super-premium card issued by the bank and is targeted at high-income 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 can expect from a premium credit card. At 3% pm, the interest rate for this card is also 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 (Interest charges applicable). Although the annual fee of the card is quite high, you can get it waived off by spending 15 lakhs or above in the previous anniversary year and save Rs. 10,000. Keep reading to learn more about this super-premium credit card offering by Axis Bank.

(4.6/5)

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 on retail purchases.
  • 5X EDGE REWARDS on travel spends via TRAVEL EDGE
  • 25,000 bonus Edge Points every month on achieving the spend milestone.
  • Unlimited domestic airport lounge access every year.
  • Unlimited 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.
  • Complimentary travel-related insurance covers including a cover worth Rs. 4.5 crore against air accident.
  • Credit Shield cover (against misuse of the card) worth Rs. 5 lakh and purchase protection worth Rs. 2 lakh with Axis Bank Magnus Card.
  • Medical benefits include 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 or hotel reservations, gift deliveries, etc.

Rewards and Benefits

Welcome Benefits

Choose any one of these- Tata Cliq voucher or a free 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, 5X EDGE REWARDS on travel spends via TRAVEL EDGE.

Reward Redemption

Axis EDGE REWARDS Points can be redeemed on the EDGE REWARDS portal at a value of 1 Edge Reward = Re. 0.20 or Transfer to Partner Airlines/Hotels Rewards Program.

For New customers, the monthly milestone benefit will be applicable from the 1st of the upcoming month post the card issuance date.

Travel

Complimentary international as well as domestic airport lounge access, airport concierge service and discounts on stays at Oberoi Hotels.

Golf

N/A

Domestic Lounge Access

Unlimited domestic airport lounge access

International Lounge Access

Unlimited complimentary international airport lounge access for primary cardholders and 8 complimentary visits for the guests every year with Priority Pass

Insurance Benefits

Travel-related insurance coverage, which includes an air accident cover worth Rs. 4.5 crore, Credit shield protection worth Rs. 5 lakh (in case the card is lost) 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 an expenditure of Rs. 15 lakhs in the preceding year.

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

2% + GST

Interest Rates

3.0% per month (42.58% 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 Features and Benefits

The Magnus Credit Card offered by the Axis Bank is one of its most popular and premium credit card that comes with exciting benefits across various categories, including travel, rewards, and many more:

Welcome Benefits:

  • You get a complimentary domestic flight ticket (with the maximum discount capped at Rs. 10,000) or a Tata CLiQ voucher worth Rs. 10,000 with this credit card.
  • The benefits will be sent to you via SMS on your registered mobile number on the second statement generation date of your credit card.
  • The benefits will only be valid for 6 months from the date when you receive them.
  • If you buy a product worth more than Rs. 10,000 using your Tata Cliq gift voucher, the remaining amount should be paid by you.
  • You get these benefits every year when the card membership is renewed. It should be noted that you can not get both of these benefits, you have to pick one of the two (Benefit is available to primary cardholder only)
  • You can contact the Axis Bank Concierge on 1800 103 4962 to avail of the benefit.

Milestone Benefits

  • You get 25,000 bonus Edge Reward Points on spending Rs. 1 lakh or more in a calendar month.
  • All the spends, except wallet reloads, are considered for the calculation of milestone spend.

For New customers, the monthly milestone benefit will be applicable from the 1st of the upcoming month post the card issuance date.

Travel Benefits:

  • Unlimited lounge access at select domestic airports across India. Primary as well as supplementary cardholders can avail the free domestic lounge access using the Magnus Credit Card.
  • Unlimited complimentary international airport lounge access with Priority Pass membership for the primary cardholders. Along with free visits for primary cardholders, you also get additional 8 complimentary visits for the guests per year.
  • 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 and 1+1 buffet at selected 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 Forex Markup Fee & Interest Rate

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 markup fee of 2% of the transacted amount.

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 lakhs in the preceding anniversary year.

Axis Bank Magnus Credit Card Reward Points

  • You get 12 Axis EDGE REWARDS Points for every Rs. 200 spent with the card.
  • You get 5x Edge Reward Points on travel-related spends via Travel Edge.

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.

You can also Transfer EDGE REWARDS Points earned to Partner Airlines/Hotels Rewards Program including Club ITC, Marriott Bonvoy, Etihad Guest, KrisFlyer, Spice Club, and much more at a ratio of 5:4.

Axis Bank Magnus Credit Card Fees and Charges

There are several fees and charges associated with a credit card, of which some of the most important ones are as follows:

  • The joining and annual fee of the Axis Bank Magnus Credit Card is Rs. 10,000. The renewal fee of Rs. 10,000 is waived off on spending Rs. 15 lakhs or more in the previous year.
  • The interest rate on this credit card is 3.0% per month (42.58% annually).
  • The foreign currency markup fee on this credit card is 2% of the total transaction amount.
  • The cash advance fee on the Magnus credit card is zero, i.e, you don’t need to pay any cash withdrawal charges with this card (interest charges are applicable).

Axis Bank Magnus Credit Card Eligibility Criteria

Every credit card has some specific eligibility criteria that need to be fulfilled by the applicants in order to get approved for that particular card. The eligibility requirements for the Magnus Credit Card are as follows:

  • 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).

Documents Required

The documents required to apply for the Axis Bank Magnus Card are as follows:

  • Identity Proof: Aadhar Card, PAN Card, Voters’ Id, Passport, Driving License, etc
  • Address Proof: Aadhar Card, Latest Utility bills, Passport, Driving License, etc.
  • Proof of Income: Latest months’ salary slips/bank statements or latest audited ITR.

How to Apply for Axis Magnus Credit Card?

You can apply for Axis bank Magnus credit cards online as well as offline at your convenience. To apply offline,  You’ll you will have to visit your nearest Axis Bank branch with all the required documents in order for your application to be processed. To apply online, you can proceed as follows:

  • Visit Axis Bank’s official website.
  • Under the option ‘Explore Products,’ click on ‘Cards.’
  • Select ‘Credit Cards’ and click on ‘Explore more.’
  • Choose the ‘Magnus Credit Card’ and click on ‘Apply Now’ under that.
  • Proceed further by filling in all the required details carefully.

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 unlimited complimentary international lounge access every year with this credit card.

14 Comments

  1. wrong info about international lounge access
    unlimited for card holders and 8 guest pass per year.

  2. Are you aware of any limitations on maximum of 6000 edge reward points per transaction on this card? That means transaction limit of ₹1,00,000.
    I have this card and made a transaction of more than 1L, but received only 6K points. Axis customer service being as useless as ever where front-end support opens a SR saying you should get for entire value but back-end support closes it saying 6000 is the limit without citing any T&C.

  3. HEY, just applied and got approved for the card, waiting for the delivery, I was wondering if this is a metal card? if yes, then is the quality of metal comparable to HDFC Infinia metal card?

      • Some users are saying it’s quality is not similar to infinia, is that right?

        • We have both Infinia Metal and Magnus Metal. The Magnus metal is lighter than Infinia Metal, but overall both cards are solid.

          • received the card few days back. just wanna clarify one thing; do I need to show priority pass to access the domestic lounges or just my Magnus card?

        • Dont use priority pass for domestic, if u use priority pass they will charge 27$ plus taxes in India, priority pass is only for international, i mean outside country.

  4. Hi,

    I have a couple of questions?
    Would you prefer it on Visa or Mastercard? What’s the difference?
    Is there any chance to get it LTF?
    Can I transfer my balance from other credit card to Axis Credit Cards? If yes then what are the charges?

    Thank you so much

  5. What is the maximum rewards point on can earn on Axis Grab Deal, Axis Travel Edge and Axis GIft Edge portal?

  6. Domestic lounges have become too crowded these days. They queue for entry is also never ending. Can the Priority Pass be used to access “The Exclusive Lounges” like the one in Hyderabad which is just opposite the regular domestic lounge. Is International Travel boarding pass mandatory to use this lounge or can the same be availed with domestic boarding pass as well. Thanks

  7. Ankit Mittal Reply

    i dont see ITC club while converting the points. Is it still available?

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