Axis Bank Magnus Credit Card
The Axis Bank Magnus Credit Card is made for people who enjoy a luxurious lifestyle and travel often. It has a joining fee of ₹12,500 and offers benefits like access to domestic and international airport lounges, a low 2% fee on international purchases, and fee-free cash withdrawals (though interest may apply). The annual fee is high, but it is waived if you spend ₹25 lakhs or more in a year. These features make it a good choice for people who spend a lot and want premium perks.
The card also offers a strong reward system. You earn 12 points for every ₹200 spent, and high spenders can earn 35 points per ₹200. However, spending on fuel, utilities, and jewelry does not earn rewards. Points can be converted into airline miles at a 5:2 ratio with several travel partners, though the rates are lower than some other cards. Travel partner limits may affect frequent flyers who prefer specific airlines or hotels. Axis Bank also offers the Magnus Burgundy Credit Card, which gives extra benefits for those looking for more premium features.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
Axis Bank Magnus Credit Card – Premium Benefits for Elite Customers
The Axis Bank Magnus Credit Card is designed for high-net-worth individuals who want exclusive travel, dining, and lifestyle benefits. This premium card comes with a range of privileges, reward points, and insurance coverage, making it a strong choice for frequent travelers and luxury spenders.
Welcome Benefits
New cardholders can choose gift vouchers worth ₹12,500 from popular brands such as Luxe, Postcard Hotels, or Yatra. This allows you to enjoy your favorite experiences right from the start.
Airport Lounge Access
The Magnus Credit Card offers unlimited access to select domestic airport lounges in India for both primary and supplementary cardholders. For new cardholders, the usual eligibility requirement of spending ₹50,000 in the previous three months is waived for the first three months. You also get four complimentary guest visits per year, so you can share the luxury experience with friends or family.
For international travel, the card provides unlimited complimentary lounge access through Priority Pass membership for the primary cardholder. Four guest visits per year are also included. This makes travel comfortable and stress-free.
Hotel Privileges
Magnus cardholders enjoy exclusive offers at Oberoi and Trident hotels, both in India and abroad. You can get a 15% discount on Best Available Rates (BAR) or enjoy a complimentary third-night stay, subject to limited period offers and blackout dates. Primary cardholders may also be eligible for a complimentary room upgrade, depending on availability. These benefits are valid for both online bookings using the code “AXIS15” and offline bookings directly at the hotel.
Reward Points Program
- Earn 12 EDGE Points for every ₹200 spent up to ₹1.5 lakh per month.
- For spending above ₹1.5 lakh, earn 35 EDGE Points for every ₹200.
- On Travel Edge portal transactions, earn 60 points per ₹200 up to ₹2 lakh per month, and 35 points per ₹200 for spending above this.
- Get up to 5x points on select brands via Axis Grab Deals, with a maximum of 5,000 points or ₹1,000 cashback per month.
Reward points can be redeemed for vouchers, gadgets, fashion items, or gifts on the Axis EDGE REWARDS portal. You can also transfer points to partner airline and hotel loyalty programs at a 5:2 ratio. A maximum of 5,00,000 points can be converted per calendar year.
Dining Benefits
Enjoy up to 15% off at partner restaurants under the Axis Bank Dining Delights program. The maximum discount is ₹500 per transaction, giving you premium dining experiences without the extra cost.
Insurance and Travel Protection
- Credit Shield: ₹5 Lakh
- Purchase Protection: ₹2 Lakh
- Credit Liability: Up to card limit
- Lost or delayed baggage: $500 USD
The card also offers a 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000 at fuel stations across India, with a maximum waiver of ₹400 per month.
Annual Fee and Waiver
The annual membership fee is ₹12,500, which can be waived if you spend ₹25 lakhs or more in the previous anniversary year. Certain transactions like wallet reloads, utilities, fuel, insurance, rent, and gold are excluded from this calculation.
New Magnus Credit Card for Burgundy Customers
Axis Bank recently introduced the New Magnus Credit Card for Burgundy account holders. This upgraded card allows you to earn 4 partner miles for every 5 EDGE Points and can accumulate up to 10 lakh EDGE Points. The joining and renewal fee for Burgundy customers is ₹30,000 + GST, with no joining fee offered until 31st January 2024.
Eligibility Criteria
- Age: 21–70 years for primary cardholders, 18+ for add-on cardholders.
- Minimum annual income: ₹24 lakh.
- Existing credit limit of ₹3 lakh or more on Axis Bank or other bank credit cards.
How to Apply
You can apply online via the Axis Bank website or visit the nearest branch with the required documents. Existing Burgundy customers can request an upgrade by calling 1800 419 0065.
Customer Support
- For queries: 1860 419 5555 or 1860 500 5555
- To block your card: +91 22 67987700 (24×7 helpline)
Axis Bank Magnus Credit Card Review
The Axis Bank Magnus Credit Card is ideal for customers who want a premium lifestyle experience. It offers unmatched airport lounge access, travel benefits, hotel privileges, reward points, dining discounts, and insurance coverage. This card competes with other elite cards like HDFC Infinia and ICICI Emeralde Private Credit Card, with the added advantage of extra medical and lifestyle benefits, making it a top choice for high-net-worth individuals.
Which card is better: Axis Magnus, Atlas, or Olympus?
The best card for you depends on what you’re looking for. Axis Magnus suits high spenders who enjoy luxury perks like unlimited lounge access and hotel benefits. If you’re a frequent traveler, the Axis Atlas card is a better option as it gives you Edge Miles for flights and hotel bookings. The Axis Olympus card is for those willing to pay a Rs. 20,000 annual fee in exchange for top-tier rewards, luxury hotel benefits, and concierge services.
What welcome benefit does the Axis Magnus Credit Card offer?
The Axis Magnus Credit Card has a joining fee of Rs. 12,500, but you’ll receive a Luxe gift card or The Postcard Hotels voucher of the same value once you pay it. Plus, if you spend Rs. 25 Lakh in a year, the renewal fee is waived.
Is the Axis Magnus Credit Card made of metal?
Yes, the Axis Magnus Credit Card is a metal card with benefits in areas like travel, dining, and lifestyle. However, you need to have a yearly income of ₹24 lakh to be eligible.
What is the highest amount I can spend using the Axis Magnus Credit Card?
The credit limit for the Axis Magnus Credit Card is based on your credit score, financial history, and job profile. You’ll find out the exact limit when the bank approves your card.
What airport lounge access do add-on members get with the Magnus Credit Card?
Both the primary and add-on members enjoy unlimited domestic lounge access if they spend Rs. 50,000 in the past three months. They also get unlimited international lounge access with Priority Pass and four guest visits each year.
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