Axis Bank Magnus Credit Card – Benefits, Fees & Eligibility

Introduction

The Axis Bank Magnus Credit Card is a super-premium offering from Axis Bank, designed for high-income individuals seeking a luxurious lifestyle. It provides extensive travel benefits including unlimited domestic and international airport lounge access, a competitive 2% foreign currency markup, and a robust rewards program. The card also offers an annual fee waiver based on spending and comes with a joining fee of ₹12,500 + GST. An exclusive variant, the Axis Bank Magnus Credit Card for Burgundy, offers enhanced benefits for eligible Burgundy customers.

Welcome Benefits

• For Axis Bank Magnus Credit Card: Choose any one gift voucher worth ₹12,500 from Luxe, Yatra, or Postcard Hotels.
• For Axis Bank Magnus Credit Card for Burgundy: Choose any one gift voucher worth ₹5,000 from Luxe Gift Card, Postcard Hotels Gift Voucher, or Yatra Gift Voucher. This benefit is available only on new Magnus Credit Card for Burgundy issuances and is not applicable to customers upgrading from the regular Magnus Credit Card.
• The welcome benefit is available only to the primary cardholder upon card activation.
• The selected benefit must be claimed within 6 months from the card issuance date.
• The benefit can be availed only once and cannot be changed or exchanged after selection.
• If a one-way domestic flight ticket is chosen (as part of the Yatra voucher option), the booking must be made at least 10 days before the travel date through the Yatra website or app.
• The welcome benefit is not applicable as part of the annual renewal benefits.

Fees

• Joining Fee: ₹12,500 + GST. This fee is Nil for Burgundy Salary Account holders.
• Annual Fee: ₹12,500 + GST. This fee is Nil for Burgundy Salary Account holders.
• Joining & Renewal Fee for Axis Bank Magnus Credit Card for Burgundy: ₹30,000 + GST.
• Spend-Based Waiver (Axis Bank Magnus Credit Card): The annual membership fee is waived on an expenditure of ₹25 Lakhs or more in the preceding anniversary year. This threshold does not include wallet reload, utilities, gold, insurance, fuel, EMI conversions, government, and rent transactions.
• Spend-Based Waiver (Axis Bank Magnus Credit Card for Burgundy): The annual fee of ₹30,000 + Taxes is waived off on a spend of ₹30 Lakhs in the preceding year.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 2% of the total transaction amount.
• Interest Rates: 3.0% per month (42.58% annually) on extended credit.
• Fuel Surcharge Waiver: 1% fuel surcharge waived off for transactions between ₹400 and ₹4,000 at all fuel stations across India. The maximum waiver is capped at ₹400 per month. (Note: On certain fuel transactions, the fuel surcharge may be levied as INR 10 + GST instead of 1% + GST).
• Cash Advance Charges: Nil (interest charges are applicable).

Rewards

• General Spends:
  • Earn 12 EDGE Reward Points for every ₹200 spent on cumulative monthly retail spends up to ₹1.5 Lakh.
  • Earn 35 EDGE Reward Points for every ₹200 spent on incremental retail spends beyond ₹1.5 Lakh in a calendar month, up to your assigned credit card limit + ₹1.50 Lakhs per calendar month.
• Travel EDGE Portal Spends:
  • Earn 60 EDGE Reward Points for every ₹200 spent on the Travel EDGE Portal, on cumulative monthly spends up to ₹2 Lakh.
  • Travel EDGE spends above ₹2 Lakh earn 35 EDGE Reward Points per ₹200.
• UPI Spends (Magnus RuPay Credit Card): Earn 35 EDGE Reward Points per ₹200, capped at ₹50,000 in UPI spends per calendar month.
• Excluded Transactions for Rewards: No EDGE Reward Points are awarded on wallet reloads, government, utility, telecom, insurance, fuel, gold & jewelry transactions. These spends are not considered for reward threshold calculations.
• Rental Transactions: Earn rewards only on cumulative monthly spends up to ₹50,000. Spends beyond this limit are not eligible for EDGE Reward Points.
• Dining: Enjoy a 15% discount (up to ₹1,000 via Eazydiner) at over 4,000 restaurants across India under the Axis Dining Delights Program.
• Travel Benefits:
  • Domestic Lounge Access: Unlimited complimentary domestic airport lounge access for primary and add-on cardholders at select lounges across India. To be eligible, cardholders must spend ₹50,000 in the preceding three months. This spending requirement is waived for the first three months after the card is issued. Additionally, 4 complimentary guest lounge visits are provided every year. Domestic lounge access can also be gained by presenting your Priority Pass at select lounges.
  • International Lounge Access: Unlimited complimentary international airport lounge access with Priority Pass membership for primary cardholders. Along with free visits for primary cardholders, you also get an additional 4 complimentary visits for guests per year (guest visits revised to 4 per year w.e.f 20th April'24).
  • Airport Meet & Assist (Magnus Credit Card for Burgundy): This service is available 4 times per calendar year.
• Hotel Offers:
  • Discounted stays at Oberoi Hotels.
  • 15% savings on bed and breakfast rates at The Leela Palace Hotels & Resorts, valid till 30th September, 2026.
• Insurance Benefits:
  • Credit Shield protection worth ₹5 Lakh (against misuse of the card).
  • Purchase protection worth ₹2 Lakh.
  • Credit Liability up to the Card Limit.
  • Lost/Delayed Baggage coverage of $500 (USD).
• Golf: N/A (as per the main product details).

Rewards Redemption Guide

• Axis EDGE REWARDS Points can be redeemed on the EDGE REWARDS portal for instant vouchers, gifts, gadgets, fashion accessories, etc.
• Value: 1 Edge Reward = ₹0.20 when redeemed against vouchers and products.
• Transfer to Partner Airlines/Hotels Rewards Program:
  • Regular Magnus: The revised transfer ratio is 5 EDGE RPs = 2 Partner Miles/Points across 20 travel partners.
  • Magnus Credit Card for Burgundy: Cardholders enjoy an enhanced value, transferring 5 EDGE Reward Points into 4 partner airline miles or hotel loyalty points across 20 travel partners.
  • The total number of reward points you can convert in a calendar year is capped at 5,00,000 RPs for a single Customer ID. (For 2023, cardholders could convert 5,00,000 reward points from 1st September to 31st December 2023).
  • You can link only one Customer ID to a partner program loyalty membership at a given time. If you want to link another ID, you will first have to delete the existing primary ID and add the new one.
  • The cardholder must wait at least 60 days to update their partner program Customer ID at the Travel EDGE portal.
  • Partner Classification for Transfers: All current partners on the Miles Transfer Program are classified into two groups: Group A and Group B.
    • A maximum of 100,000 EDGE REWARD Points in total can be transferred to Group A partners.
    • A maximum of 400,000 EDGE REWARD Points in total can be transferred to Group B partners.
  • Group A Partners: Aeroplan, The British Airways Club, Ethiopian Airlines, Etihad Guest, Wyndham Rewards, Finnair Plus, JAL Mileage Bank, Singapore Airlines (Krisflyer), Royal Orchid Plus, Turkish Airlines, United MileagePlus, Lotusmiles (Vietnam Airlines).
  • Group B Partners: Air Asia, Flying Blue, Air India (Maharaja Club), IHG One Rewards, IndiGo BluChip, ITC, Orchid Rewards, The Postcard Sunshine Club, Qantas Frequent Flyer, Radisson Rewards, SpiceJet.
• Reward Point Holding Limit (Magnus Credit Card for Burgundy): Burgundy cardholders can hold up to 10 lakh EDGE Reward Points in their rewards account.

Card Eligibility Criteria

• Primary Cardholder Age: Must be between 21 years and 70 years.
• Add-on Cardholder Age: Must be over 18 years.
• Annual Income: Minimum annual income of ₹24 Lakh (for both salaried and self-employed applicants).
• Alternative Eligibility: If you have a credit limit of ₹3 Lakhs or more on an Axis Bank or any other bank credit card, then you are eligible to apply for the Magnus Credit Card.
• Residency: Resident of India.
• Documents Required:
  • PAN card photocopy or Form 60.
  • Latest payslip/Form 16/IT return copy as the proof of income.
  • Residence proof (Passport/Driving license/Electricity bill/Landline telephone bill).
• Eligibility for Axis Bank Magnus Credit Card for Burgundy:
  • The card is available only to Axis Bank Burgundy customers who satisfy the bank’s Burgundy Relationship Eligibility Criteria. You may qualify by meeting any one of the following:
    • Maintain an Average Monthly Balance (AMB) of ₹10 Lakh in an Axis Bank Savings Account.
    • Maintain an Average Monthly Balance of ₹10 Lakh across Savings and Current Accounts.
    • Maintain a Total Relationship Value (TRV) of ₹30 Lakh.
    • Maintain a TRV of ₹1 Crore, including Demat holdings.
    • Receive a net monthly salary of ₹3 Lakh or above in an Axis Bank Salary Account.
    • Receive foreign inward remittances of at least ₹40 Lakh in the last 12 months (for NRIs).
  • Eligible Axis Bank Burgundy customers who meet the relationship criteria can request an upgrade by contacting Axis Bank Customer Care at 1800 419 0065.

Card Review

The Axis Bank Magnus Credit Card has undergone several changes, yet it remains a strong option for high-income individuals seeking premium travel and lifestyle benefits. Its features, such as unlimited lounge access, Travel EDGE rewards, and extensive hotel and airline transfer partners, position it as a capable super-premium credit card. However, the Axis Bank Magnus Credit Card for Burgundy stands out as the superior choice for eligible Burgundy customers, offering a Lifetime Free option and a significantly better 5:4 airline and hotel transfer ratio. For others, the regular Magnus is worth considering if its travel benefits can be fully utilized to justify the annual fee.

Pros

• No cash withdrawal charges (though interest charges are applicable).
• Unlimited international and domestic lounge access for primary and add-on cardholders.
• Lower interest rate of 3.0% per month.
• Reduced foreign currency markup fee of 2%.
• Comprehensive insurance benefits including Credit Shield cover and purchase protection.
• Lifetime Free option for eligible Axis Bank Burgundy Salary Account holders.
• The Burgundy variant offers an improved 5:4 reward point transfer ratio.

Cons

• High annual income requirement of ₹24 Lakhs for eligibility.
• No golf benefits are explicitly listed in the main product details.
• Several benefits, such as BOGO offers on movie bookings and concierge services, have been removed as of May 2024.

Important Product Details

• Welcome benefit of gift vouchers worth ₹12,500 (or ₹5,000 for Burgundy variant).
• Reward earning structure: 12 EDGE Reward Points per ₹200 on spends up to ₹1.5 Lakhs, and 35 RPs per ₹200 thereafter.
• Accelerated rewards: 60 EDGE Reward Points per ₹200 on Travel Edge portal spends up to ₹2 Lakhs.
• Unlimited domestic and international airport lounge access (with spend condition for domestic).
• 4 complimentary guest visits for both domestic and international lounges annually.
• Dining discounts of 15% at 4,000+ restaurants via Dining Delights.
• Hotel benefits including discounted stays at Oberoi Hotels and 15% savings at The Leela Palace Hotels & Resorts.
• Insurance coverage: Credit Shield worth ₹5 Lakh and purchase protection worth ₹2 Lakh.
• Competitive fees: 2% foreign currency markup, 3% monthly interest rate, and zero cash withdrawal fees.
• Annual fee waiver on spends of ₹25 Lakhs (₹30 Lakhs for Burgundy variant).
• Lifetime Free for Axis Bank Burgundy Salary Account holders.
• Reward points can be redeemed at ₹0.20 per point or transferred to partner airlines/hotels at a 5:2 ratio (5:4 for Burgundy variant).
• Transactions not earning rewards include wallet reloads, government, utility, telecom, insurance, fuel, gold & jewelry.
• Rental transactions earn rewards only up to ₹50,000 per month.

Other Details

• The Axis Bank Magnus Credit Card is a metal card.
• Axis Bank Magnus Credit Card for Burgundy is an exclusive variant available only to Axis Bank Burgundy customers.
• Golf benefits may be available via the Mastercard World Program, including 4 complimentary rounds of green fees per calendar year (max 1 per month), 12 complimentary golf lessons per calendar year (1 per month), and discounted golf services at 50% of the green fee beyond complimentary sessions.
• Terms and Conditions for both the Axis Bank Magnus Credit Card and the Magnus Credit Card for Burgundy have been updated on various dates, including September 1, 2023, April 20, 2024, and June 20, 2025. These documents contain detailed legal disclaimers and terms.
• For benefit redemption, queries, complaints, and feedback, customers can call 1800 419 0065 or visit www.axisbank.com/support.
• Important documents like the Card Member Agreement, Code of Commitment, and MITC are available for reference.