- Joining fee
₹12,500 + GST (Nil for Burgundy Salary Account)
- Annual fee
₹12,500 + GST (Nil for Burgundy Salary Account)
- Best suited for
Travel, Dining, Shopping
- Reward type
Reward Points
Rewards
- Rewards rate
Earn 12 EDGE Reward Points per ₹200 on Spends up to ₹1.5 Lakh and 35 EDGE Reward Points per ₹200 Thereafter in a Calendar Month
- Welcome benefits
Choose a gift voucher worth Rs. 12,500 from any one of Luxe, Yatra, or Postcard Hotels
- 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.
Benefits
- Movie & dining
15% Discount at 4,000+ Restaurants Across India Under the Axis Dining Delights Program
- Travel
4 Free International Airport Lounge Visits for Guests Each Year
- Domestic lounge
Unlimited Free Domestic Airport Lounge Access for Primary and Add-On Cardholders on Spends of ₹50,000 or More in the Previous Quarter
- International lounge
Unlimited Complimentary International Airport Lounge Access Via Priority Pass
- Insurance
Credit shield protection worth Rs. 5 lakh (in case the card is lost) and a purchase protection worth Rs. 2 lakh.
Fees & charges
- Spend-based waiver
Annual Fee Waiver on Spends of ₹25 Lakh
- Rewards redemption fee
Nil
- Foreign currency markup
2%
- Interest rates
3.0% per month (42.58% annually)
- Fuel surcharge waiver
1% fuel surcharge waived off at all fuel stations across India
- Cash advance charges
Nil
Product highlights
- ₹12,500 worth of gift vouchers from Luxe, Postcard Hotels, or Yatra as a welcome benefit
- 12 Axis EDGE REWARDS Points for every ₹200 spent on retail purchases up to ₹1.5 Lakhs. Earn 35 RPs per ₹200 after exceeding the monthly spend of ₹1.5 Lakhs
- Earn 60 Axis EDGE REWARDS Points for every ₹200 spent on the Travel Edge portal up to ₹2 Lakhs. Earn 35 RPs per ₹200 after exceeding the monthly spend of ₹2 Lakhs
- Unlimited domestic airport lounge access every year.
- Unlimited complimentary international lounge visits every year with Priority Pass.
- Discounted stays at Oberoi Hotels.
- 15% discount up to Rs 1,000 via Eazydiner at 4,000+ restaurants across India under the Axis Bank Dining Delights program.
- Credit Shield cover (against misuse of the card) worth ₹5 lakh and purchase protection worth ₹2 lakh with Axis Bank Magnus Card.
- Lower interest rate (3% per month), foreign currency markup (2%), and zero cash withdrawal fee.
Pros & cons
Pros
- There are no cash withdrawal charges with this card.
- Unlimited international and domestic lounge access with the Magnus Credit Card.
Cons
- The annual income required to be eligible for the Axis Bank Magnus Credit Card is very high, at ₹24 lakh.
- There are no golf benefits with this card.
- Several benefits have now been removed from the Magnus Credit Card (as of May 2024) such as BOGO offers on movie bookings and concierge services.
FAQs
What is the reward rate of the Axis Bank Magnus Credit Card?
The Axis Bank Magnus Credit Card offers 12 EDGE Reward Points for every ₹200 spent on monthly spends up to ₹1.5 lakh. Beyond this threshold, cardholders earn 35 EDGE Reward Points per ₹200. Travel EDGE bookings earn 60 EDGE Reward Points per ₹200 up to ₹2 lakh in monthly spends.
What is the value of 1 EDGE Reward Point on the Magnus Credit Card?
When redeemed against vouchers and products, 1 EDGE Reward Point is worth ₹0.20. Cardholders can also transfer EDGE Reward Points to airline and hotel loyalty programs at a 5:2 transfer ratio. Burgundy cardholders enjoy a superior 5:4 transfer ratio.
Is the Axis Bank Magnus Credit Card Lifetime Free?
Yes, eligible Axis Bank Burgundy Salary Account holders can get the Axis Bank Magnus Credit Card as a Lifetime Free (LTF) card, with no joining or annual fee. Standard applicants are required to pay the applicable membership fee.
What are the eligibility criteria for the Axis Bank Magnus Credit Card?
To apply for the Magnus Credit Card, you must: Be between 21 and 70 years of age. Have a minimum annual income of ₹24 lakh. Alternatively, hold an existing credit card with a credit limit of ₹3 lakh or more.
What is the Axis Bank Magnus Credit Card for Burgundy?
The Magnus Credit Card for Burgundy is an exclusive variant available to eligible Axis Bank Burgundy customers. It offers the same reward earning structure as the regular Magnus Card but provides a significantly better 5:4 airline and hotel transfer ratio, making it more rewarding for frequent travelers.
Does the Axis Bank Magnus Credit Card charge a forex markup fee?
Yes. The card charges a 2% foreign currency markup fee, making it one of the better super-premium credit cards in India for international transactions.
Which transactions do not earn EDGE Reward Points on the Magnus Credit Card?
No EDGE Reward Points are earned on fuel, insurance, utility bills, government payments, telecom, wallet reloads, gold & jewelry purchases, and certain rent transactions beyond the specified monthly limit.