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Axis Bank Magnus Credit Card
- Joining Fee: Rs. 12,500 plus GST
- Renewal Fee: Rs. 12,500 plus GST
- Best Suited For: Movies | Travel | Dining | Shopping
- Reward Type: Reward Points
- Welcome Benefites: Choose a gift voucher worth Rs. 12,500 from any one of Luxe, Yatra, or Postcard Hotels
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The Magnus Credit Card is one of the most rewarding and sought-after cards in Axis Bank’s portfolio. This super-premium card issued by the bank targets high-income individuals who want to enjoy the privilege of a luxurious lifestyle. It has a joining fee of Rs. 12,500 but offers many premium travel, lifestyle, dining, and insurance benefits. Cardholders get domestic and international lounge access at airports along with a 24*7 concierge service. Premium customers can also make international transactions at a relatively low 2% Forex Markup fee. Also, there are no cash withdrawal charges on the card (Interest charges applicable). Although the annual fee of the card is relatively high, you can get it waived by spending 25 lakhs or above in the previous anniversary year and save Rs. 12,500. Keep reading our review of the super-premium Magnus credit card to learn about its features and benefits.
New Features
Spend Based Waiver
Annual fee waived off on an expenditure of Rs. 25 lakhs in the preceding year.
Interest Rates
3.0% per month (42.58% annually)
Add-on Card Fee
Nil
Rewards Redemption Fee
Nil
Fuel Surcharge
1% fuel surcharge waived off at all fuel stations across India
Foreign Currency Markup
2% of the transaction plus GST
Cash Advance Charges
Nil
Movie & Dining
Buy one and get up to Rs. 500 off on the next movie/non-movie ticket on BookMyShow (max 5 times a month), 20% discount at 4,000+ restaurants across India under the Axis Bank Dining Delights program.
Travel
Complimentary international as well as domestic airport lounge access, airport concierge services and discounted stays at Oberoi Hotels.
International Lounge Access
Unlimited complimentary international airport lounge access for primary cardholders and 8 complimentary visits for the guests every year with Priority Pass
Rewards Rate
12 Axis EDGE REWARDS Points for every Rs. 200 spent with the card, 5X EDGE REWARDS on travel spends via TRAVEL EDGE.
Golf
NA
Insurance Benefits
Credit shield protection worth Rs. 5 lakh (in case the card is lost) and a purchase protection worth Rs. 2 lakh.
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.
Domestic Lounge Access
Unlimited domestic airport lounge access
Zero Liability Protection
Credit shield cover worth Rs. 5 lakh, liability protection up to the card’s credit limit.
Pros
There are no cash withdrawal charges with this card. Unlimited international and domestic lounge access with the Magnus Credit Card. You can avail “BOGO” on movies and get discounts on dining with this card.
Cons
The annual income required to be eligible for the Axis Bank Magnus Credit Card is very high, at Rs. 24 lakh. There are no golf benefits with this card. To qualify for the New Magnus Card for Burgundy, you must maintain the Total Relationship Value associated with the account.
