CardAgent
Verified by CardAgent admin · last checked 08 Jul 2026
Axis Bank

Axis Bank Magnus Credit Card

26
Ranked #129 of 170 in credit
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Axis Bank's flagship super-premium travel card with strong base reward rates and unlimited lounge access, though devalued significantly in 2023-2024; Burgundy relationship variant offers better redemption ratios.

Score breakdown

Data completeness: 75% · Last verified: 09 Jul 2026

Reward value17/100 · weight 71%
≈ 0.82% effective on the standard basket (eligible spend only)
Wide-coverage rewards: +0.6% score bonus — earns broadly without narrow category restrictions.
Fee efficiency33/100 · weight 12%
Redemption flexibility75/100 · weight 9%
Perks39/100 · weight 9%

Fees

All fees shown base + 18% GST (India card fees legally attract GST).

Joining fee
₹12,500 + 18% GST
= ₹14,750 total
Annual fee
₹12,500 + 18% GST
= ₹14,750 / year total
Waiver: Renewal fee waived on annual spend of Rs 25 lakh (some sources cite Rs 15 lakh for older terms - verify current MITC)
Forex markup
2%

Lounge access

Domestic (per year)
-1
International (per year)
-1

Reward structure

CategoryTypeRateCapNotes
online_travel_bookingpoints1.20%(6 pts @ ₹0.20)₹2,00,000 / monthly60 EDGE pts/Rs 200 via Travel EDGE portal, up to Rs 2L monthly spend
all_spendspoints0.80%(4 pts @ ₹0.20)₹1,50,000 / monthly12 EDGE pts/Rs 200 up to Rs 1.5L monthly spend; approx value at Re 0.2/point voucher redemption

No rewards on

These categories earn zero rewards on this card. Reward score is scaled down by up to −5%, proportional to how much of the standard basket sits in the excluded categories (v4.3 formula).

wallet loadgovernmentutilitiestelecomfuelinsurancejewellerycashrent

Welcome offer

Joining fee refunded as Luxe Gift Card, Postcard Hotels voucher, or Yatra voucher worth Rs 12,500, on first transaction within 30 days

Milestone benefits

Pros

  • High base reward rate (up to 6% effective on incremental spend)
  • unlimited lounge access
  • hotel benefits at Oberoi & Trident
  • up to 30-40% dining discount at 4,000+ restaurants
  • strong welcome voucher

Cons

  • Major devaluation in 2023-24: transfer ratio cut from 5:4 to 5:2, guest lounge visits cut from 8 to 4/year, high annual fee, high income eligibility (Rs 24L), domestic lounge now spend-gated (Rs 50K/3 months)

What's inside

More benefits

  • Guest Lounge Access

    4 complimentary guest visits per year for domestic and international lounges.

    yearly.

  • Fuel Surcharge Waiver

    1% waiver on ₹400–₹4,000 spends.

    Cap ₹400 / monthly.

  • Welcome gift voucher

    ₹12,500

    Choice of one-way domestic flight ticket, Luxe Gift Card, or Postcard Hotels voucher

    Cap ₹12,500 / one-time. On first transaction within 30 days of card issuance

  • Dining discount

    ₹1,000

    Up to 30-40% discount at 4,000+ partner restaurants

    unlimited. Via Axis Bank Dining Delights program

Insurance cover

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Eligibility

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Age 18-70; min annual income/ITR Rs 24 lakh; min credit score 750

Small print

Fuel surcharge:1% fuel surcharge waiver on transactions Rs 400-Rs 4,000