By: OurMoneyGuide || Last updated on: May 1, 2024

Axis Bank Magnus Credit Card is one of the best premium cards in India, with a minimum annual income requirement of ₹24 lakhs. You get attractive rewards on travel spends, and also lifestyle benefits like unlimited airport lounge access both in India and abroad, dining and insurance benefits.

Brief Summary

Our Rating

4.25 / 5

Axis Bank Magnus Credit Card is one of the best premium cards in India. You can get high reward rates on travel spends, especially if you are a very high spender and convert your reward points to partner points of airlines and hotel partners.

Pros & Cons of Axis Bank Magnus Credit Card

Pros

  • This card is ideal for frequent travellers, especially very high spenders
  • Good lifestyle benefits , especially travel related like unlimited complimentary access to airport lounges both within India and abroad

Cons

  • For non-travellers, this may not be a very attractive card since card rewards can only be redeeemd for travel bookings

Features & Benefits of the Axis Bank Magnus Credit Card

6% – 12% reward on travel spends till ₹1.50 lakhs per month || 17.50% – 35% reward on travel spends above ₹1.50 lakhs per month (5X)

Travel spends means-
– airline bookings on Axis Travel EDGE Portal
– hotel bookings on Axis Travel EDGE Portal

6% – 12% reward on travel spends till ₹1.50 lakhs per month
✓ 6% reward : You earn 30 EDGE reward points (worth ₹6 cashback OR 12 partner points), on every ₹100 you spend on travel spends. 1 EDGE reward points = 0.20, and can be redeemed on EDGE rewards platform for vouchers, products and more
✓ 12% reward : You earn 30 EDGE reward points worth 12 partner points (of airlines & hotels), on every ₹100 you spend on travel spends. 1 EDGE reward point = 0.40 partner points (5 EDGE reward point = 2 partner points).

17.50% – 35% reward on travel spends above ₹1.50 lakhs per month
✓ 17.50% reward : You earn 87.50 EDGE reward points worth ₹17.50, on every ₹100 you spend on travel spends. 1 EDGE reward points = 0.20, and can be redeemed on EDGE rewards platform for vouchers, products and more.
✓ 35% reward : You earn 87.50 EDGE reward points worth 35 partner points (of airlines & hotels), on every ₹100 you spend on travel spends. 1 EDGE reward point = 0.40 partner points (5 EDGE reward point = 2 partner points).

Airline & Hotel partners
– Airline partners: AirAsia, Air Canada, Air France – KLM, Ethiopian Airlines, Etihad Airways, Japan Airlines, Qantas Airways, Qatar Airways, Singapore Airlines, Spicejet, Thai Airways, Turkish Airlines, United Airlines, Vistara
– Hotel partners: Accor, ITC, IHG Hotels and Resorts, Marriott International Wyndham Hotels & Resorts
5 EDGE reward points = 2 partner points. For more details, please click here.

→ Please note
✓ You cannot convert more than 5 lakh EDGE reward points to partner points, in a year. There are further restrictions – on a certain set of partners (Group A) you can transfer of maximum of 1 lakh EDGE reward points in a year , while on the other set (Group B) you can transfer a maximum of 4 lakh EDGE reward points in a year, please see below-
– Group A : Accor Hotels (Accor Live Limitless), Air Canada (Aeroplan), Ethiopian Airlines , Etihad (Etihad Guest), Japan Airlines (JAL Mileage Bank), Marriott International ( Marriott Bonvoy), Qatar Airways, Singapore Airlines (Krisflyer), Turkish Airlines, Thai Airways ( Royal Orchid Plus), United Airlines (MileagePlus), Wyndham Hotels (Wyndham Rewards)
– Group B : Air France-KLM (Flying Blue), Air India (Flying Returns), Air Asia, ITC, IHG® Hotels & Resorts (IHG One Rewards), Qantas Airways (Qantas Frequent Flyer), SpiceJet, Vistara (TATA SIA Airlines Ltd)

For the year 2024, customer can convert 5 lakh EDGE reward points from 20th April 2024 – 31st December 2024. From next year onwards, capping will be applicable from 1st Jan’25 to 31st Dec’25. For more details, please click here.

1.20% – 2.40% reward on all other card spends till ₹1.50 lakhs per month || 3.50% – 7% reward on all other card spends above ₹1.50 lakhs per month (X)

1.20% – 2.40% reward on all other card spends till ₹1.50 lakhs per month
✓ 1.20% reward : You earn 6 EDGE reward points worth ₹1.20, on every ₹100 you spend on all other card spends. 1 EDGE reward points = 0.20, and can be redeemed on EDGE rewards platform for vouchers, products and more
✓ 2.40% reward : You earn 6 EDGE reward points worth 2.40 partner points (of airlines & hotels), on every ₹100 you spend on travel spends. 1 EDGE reward point = 0.40 partner points (5 EDGE reward point = 2 partner points).

3.50% – 7% reward on all other card spends above ₹1.50 lakhs per month
✓ 3.50% reward : You earn 17.50 EDGE reward points worth ₹3.50, on every ₹100 you spend on all other card spends. 1 EDGE reward points = 0.20, and can be redeemed on EDGE rewards platform for vouchers, products and more.
✓ 7% reward : You earn 17.50 EDGE reward points worth 7 partner points (of airlines & hotels), on every ₹100 you spend on travel spends. 1 EDGE reward point = 0.40 partner points (5 EDGE reward point = 2 partner points).

→ Please note
✓ EDGE reward points are not given on the following card spends – gold/ jewellery, wallet, government institution, insurance, fuel, utilities merchants, payment of card fees & charges.

✓ On rent payments, reward points are given only on rent payments upto ₹50,000 per month. Beyond this amount, no EDGE reward points are given.

Unlimited complimentary airport lounge access – both in India and abroad

Unlimited free visits to international airport lounges
– You enjoy unlimited complimentary international lounge visits through the Priority Pass Program. This is valid only for the primary cardholder, who shall get the Priority Pass Card.
– You are also allowed 4 complimentary guest visits per calendar year, the guest/s need to be accompanying you.
– You need to swipe the Priority Pass Card at eligible airport lounges. You can check eligible lounges at www.prioritypass.com.

Unlimited free visits to domestic airport lounges
– You enjoy unlimited complimentary domestic lounge visits in India, including your add-on cardholders.
– This benefit is valid only if you have spent a minimum of ₹50,000 on your credit card, in the previous 3 months. In the case of newly issued cards, this card spend requirement is waived off for the month of issuance as well as for the following 3 months.
– For list of eligible lounges, please click here.
– You need to swipe your Axis Bank Magnus Credit Card at the eligible airport lounges to avail your free visits. A transaction of ₹25 will be made on the credit card for authentication, which will be reversed within 24 working hours.

40% discount (upto ₹1000) once a month, at participating restaurants – dining offer in partnership with EazyDiner (Dining Delights Program)

You get a 40% discount up to ₹1000 on your restaurant orders, at over 4,000 restaurants nationwide. Minimum order amount required is ₹2500. 

Hence you get a 40% discount on orders of ₹2500. On orders above ₹2500, your discount percentage falls below 40% since the maximum discount is fixed at ₹1000. 

This offer can be redeemed once every month. For a list of participating restaurants and more information, please visit here.

Complimentary insurance benefits

✔︎ Counterfeit/ loss card insurance cover upto the credit limit of your card. This protects in you lose your card, and there are fraudulent transactions on your card.
✔︎ Credit shield insurance cover of ₹5 lakhs. This protects in the unfortunate event of credit card outstanding being unpaid due to disability or death of cardholder.
✔︎ Upto USD 500 insurance cover in case of loss/delay of baggage and/travel documents
✔︎ Purchase protection insurance cover of 2 lakhs

For full details and terms and conditions, please refer to the Axis Insurance Detailed Terms and Conditions.

Fuel surcharge waiver, upto ₹400 per month

You get 1% fuel surcharge waiver on all fuel transactions between ₹400 and ₹4000. And on fuel purchases till ₹40,000 per month, since the maximum waiver amount is capped at ₹400 per monthly card statement cycle.

Axis Bank Magnus Credit Card Fees and Charges

Annual fee & annual fee offers

Annual fee
Annual fee offers
1st year joining fee₹12,500Welcome offer : You get a voucher worth ₹12500. You can choose from either a Luxe gift voucher, OR The Postcard Hotels gift voucher, OR a Yatra gift voucher. This voucher is given on making the first card transaction within 30 days of card issuance.
Renewal fee from 2nd year onwards₹12,500Renewal offer : Renewal fee is not charged from the 2nd year onwards, if you spend ₹25 lakhs or more in the previous year.
– Spends that fall under any of the following categories won’t be counted towards the annual fee waiver spend requirement of ₹25 lakhs – gold/ jewellery, rent, wallet, government institution, insurance, fuel, utilities merchants, Priority Pass spends, EMI transactions.

Foreign currency markup fee
2% of transaction value. This fee is charged when you use your card outside India.

Finance charges
3% per month.

Important Note

– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – Axis Magnus Credit Card Fees & Charges

Eligibility Criteria

Minimum age18 years
Maximum age70 years
Occupation Salaried, self-employed
Minimum income requirements₹24 lakhs per year
Credit scorePreferably above 750
Residential statusThe individual should be a resident of India

*The above criteria are only indicative. The bank reserves the right to approve or decline applications for credit card.

Application Process

Step-by-step

Online application process
The easiest way is to click here – APPLY NOW , you shall be taken to the card application page on the Axis Bank website. You can also visit official website of the bank and fill out the application form.

Steps :
– Fill up the application form
– Make sure to submit the required documents, including identity proof (voter card, Aadhar card, PAN card, etc. – any one), address proof (Aadhar card, voter card, PAN card, driving licence, etc. – any one), and proof of income (salary slips, audited ITR acknowledgement – as applicable)
– Review your application and click submit
– Await confirmation from Axis Bank regarding the status of your application.
Offline (face to face) application processYou can visit any of the nearest branches of the bank and talk to an executive regarding the process.
Tracking your credit card applicationPlease click here – Axis Bank Credit Card Application Status , to track the status of your Axis Bank credit card application.

Necessary documents and verification

Required documents
– PAN card photocopy
– Colour photograph
– Income proof : Latest payslip/Form 16/IT return copy
– Residence proof (any one of the following) : Passport , Ration card, Electricity bill, Landline telephone bill
– Identity proof (any one of the following) : Passport, Driving license, PAN card, Aadhaar card

Please note that this list is only indicative. Documents required may vary on a case-to-case basis.