Axis Bank Magnus Credit Card

The Axis Bank Magnus Credit Card offered by Axis Bank is one of the most beneficial and in-demand cards in their portfolio. This super-premium card, issued by the bank, targets high-income individuals who seek to enjoy a luxurious lifestyle. It comes with an annual fee of INR 10,000 but provides several premium travel, lifestyle, dining, and insurance benefits.

Cardholders have access to domestic and international lounges at airports with 24×7 concierge services. Premium customers can also avail themselves of international transactions at a significantly lower 2% foreign currency markup fee.

Additionally, there are no cash withdrawal charges (interest charges apply) on the card. However, the card’s annual fee is quite high. You can have it waived off by spending INR 15 lakhs or more in the previous anniversary year and save INR 10,000. Continue reading our review to learn more about the features and benefits of the super-premium Magnus Credit Card.

Note: Please be advised that as an AI language model, I do not have access to real-time information or the ability to browse the internet. The details provided above are based on general knowledge up until September 2021. It’s always a good idea to visit the official Axis Bank website or contact their customer support for the most accurate and up-to-date information on their credit card offerings.

• Joining Fee- Rs. 10,000 + GST
• Renewal Fee- Rs. 10,000 plus taxes
• Best Suited For- Movies | Travel | Dining | Shopping
• Reward Type- Reward Points
• Welcome Benefits- Choose any one of these- Tata Cliq voucher or a free domestic flight ticket worth Rs. 10,000.

Rewards and Benefits

• 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.
• Rewards Rate- 12 Axis EDGE REWARDS Points for every Rs. 200 spent with the card, 5X EDGE REWARDS on travel spends via TRAVEL EDGE.
• 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.
• Travel- Complimentary international as well as domestic airport lounge access, airport concierge service and discounts on stays at Oberoi Hotels.
• Golf- N/A
• Domestic Lounge Access- Unlimited domestic airport lounge access
• International Lounge Access- Unlimited complimentary international airport lounge access for primary cardholders and 8 complimentary visits for the guests every year with Priority Pass
• Insurance Benefits- Credit shield protection worth Rs. 5 lakh (in case the card is lost) and a purchase protection worth Rs. 2 lakh.
• Zero Liability Protection- Credit shield cover worth Rs. 5 lakh, liability protection up to the card’s credit limit.

Fees & Charges

• Spend based Waiver- Annual fee waived off on an expenditure of Rs. 15 lakhs in the preceding year.
• Rewards Redemption Fee- Nil
• Foreign Currency Markup- 2% + GST
• Interest Rates- 3.0% per month (42.58% annually)
• Fuel Surcharge- 1% fuel surcharge waived off at all fuel stations across India
• Cash Advance Charge- Nil
• Add-on Card Fee- Nil

Product Details

• 1 complimentary domestic flight ticket or a Tata CLiQ voucher worth Rs. 10,000 as a welcome/annual gift.
• 12 Axis EDGE REWARDS Points for every Rs. 200 spent on retail purchases.
• 5X EDGE REWARDS on travel spends via TRAVEL EDGE
• 25,000 bonus Edge Points every month on achieving the spend milestone.
• Unlimited domestic airport lounge access every year.
• Unlimited complimentary international lounge visits every year with Priority Pass.
• Discounted stays at Oberoi Hotels.
• Buy one and get up to Rs. 500 off on the next BookMyShow ticket (max 5 times a month).
• 40% discount upto 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 Rs. 5 lakh and purchase protection worth Rs. 2 lakh with Axis Bank Magnus Card.
• Medical benefits include a medical concierge, second medical opinion, preventive healthcare diagnostic programs, and global travel and medical assistance.
• Lower interest rate (2.5% pm) and foreign currency mark-up (2%) and zero cash withdrawal fee.
• 24×7 dedicated concierge service for assistance regarding flight or hotel reservations, gift deliveries, etc.

Axis Bank Magnus Credit Card Features and Benefits

The Magnus Credit Card offered by the Axis Bank is one of its most popular and premium credit card that comes with exciting benefits across various categories, including travel, rewards, and many more:

Welcome Benefits:

Domestic Flight Ticket or Tata Cliq Voucher

• You get a complimentary domestic flight ticket (with the maximum discount capped at Rs. 10,000) or a Tata CLiQ voucher worth Rs. 10,000 with this credit card.
• The benefits will be sent to you via SMS on your registered mobile number on the second statement generation date of your credit card.
• The benefits will only be valid for 6 months from the date when you receive them.
• If you buy a product worth more than Rs. 10,000 using your Tata Cliq gift voucher, the remaining amount should be paid by you.
• You get these benefits every year when the card membership is renewed. It should be noted that you can not get both of these benefits, you have to pick one of the two (Benefit is available to primary cardholder only)
• You can contact the Axis Bank Concierge on 1800 103 4962 to avail of the benefit.

Milestone Benefits

• You get 25,000 bonus Edge Reward Points on spending Rs. 1 lakh or more in a calendar month.
• All the spends, except wallet reloads and insurance, are considered for the calculation of milestone spend.

For New customers, the monthly milestone benefit will be applicable from the 1st month itself.

Travel Benefits:

Lounge Access

• Domestic Lounge Access – Unlimited lounge access at select domestic airports across India. Primary as well as supplementary cardholders can avail the free domestic lounge access using the Magnus Credit Card.
• International Lounge Access – Unlimited complimentary international airport lounge access with Priority Pass membership for the primary cardholders. Along with free visits for primary cardholders, you also get additional 8 complimentary visits for the guests per year.

Oberoi Hotel Stay Offer

Discounted Stay at Oberoi Hotels –Up to 15% discount on stays at Oberoi hotels & a complimentary room upgrade.

Airport Concierge and VIP Meet & Greet 

Airport Concierge Service – Airport meet & greet, concierge service with 8 complimentary VIP assistance services for assistance regarding airport processes including check-in, security check, immigration processes, and porter services.

You get the complimentary Atithya Silver service that costs Rs. 2000 per adult for both departure and arrival at select airports. Get a warm welcome at the aerobridge gate, porter assistance, golf cart gate transfers, and other privileges. The airport Meet & Greet service can also be used for the guests travelling with you.

Movie & Dining Benefits:

• BookMyShow Benefit – Buy one movie/non-movie ticket from BookMyShow and get Rs. 500 off on the next ticket. This discount can be availed for a maximum of 5 times a month.
• Dining Delights Program – 20% discount at 4,000+ restaurants across India under the Axis Bank Dining Delights program. Inform the restaurant staff about this offer before they generate the bill. Make the payment with your Axis Bank credit card and you will get the discount.

Insurance Benefits:

24×7 Dedicated Concierge Service:

You may call the 24×7 dedicated concierge service at 1800 103 4962 for assistance regarding flight bookings, restaurant table reservations, exclusive events/shows, gift deliveries, and more.

Low Forex Markup Fee & Interest Rate

As it is a premium credit card, you get special benefits on the applicable fees and charges-

• A lower interest rate of 2.5% per month (or 34.49% annually).
• Lower than usual foreign currency markup fee of 2% of the transacted amount.

Fuel Surcharge Waiver

1% fuel surcharge waived off for transactions between Rs. 400 and Rs. 4,000 at all fuel stations across India. The maximum waiver is capped at Rs. 400 per month.

Spends Based Waiver:

The annual membership fee of the card is waived off on an expenditure of Rs. 15 lakhs in the preceding anniversary year. This threshold does not include wallet reload and rent transactions.

Axis Bank Magnus Credit Card Reward Points

• You get 12 Axis EDGE REWARDS Points for every Rs. 200 spent with the card.
• You get 5x Edge Reward Points on travel-related spends via Travel Edge.
• Edge Rewards for rental transactions accrue only up to transactions of Rs. 50,000 per month
• You can get up to 45x Reward Points on purchases from various brands at the Axis Bank Grab Deals website. Maximum 10,000 EDGE Reward Points to be earned per customer per month. You can also purchase Amazon/Flipkart vouchers from EDGE REWARDS for a maximum of Rs. 10,000 per month.
• You can also get 25,000 bonus EDGE Reward Points on spending more than Rs. 1 Lakh in a calendar month
• You can get up to 10x Reward Points along with great discounts on Gyftr. There is no capping on the maximum number of reward points you can earn through the Gyftr portal. Cardholders can purchase only Rs. 10,000 worth of Amazon gift cards per month from the Gyftr portal.

Reward Redemption:

You can redeem the Axis EDGE REWARDS Points for instant vouchers, gifts, gadgets, fashion accessories, etc. on the Axis EDGE REWARDS redemption portal. 1 Edge Reward = Re. 0.20.

You can also Transfer EDGE REWARDS Points earned to Partner Airlines/Hotels Rewards Program including Club ITC, Marriott Bonvoy, Etihad Guest, KrisFlyer, United, Turkish Miles&Smiles, and much more at a ratio of 5:4.

Axis Bank Magnus Credit Card Fees and Charges

There are several fees and charges associated with a credit card, of which some of the most important ones are as follows:

• The joining and annual fee of the Axis Bank Magnus Credit Card is Rs. 10,000. The renewal fee of Rs. 10,000 is waived off on spending Rs. 15 lakhs or more in the previous year.
• The interest rate on this credit card is 3.0% per month (42.58% annually).
• The foreign currency markup fee on this credit card is 2% of the total transaction amount.
• The cash advance fee on the Magnus credit card is zero, i.e, you don’t need to pay any cash withdrawal charges with this card (interest charges are applicable).

Axis Bank Magnus Credit Card Eligibility Criteria

Every credit card has some specific eligibility criteria that need to be fulfilled by the applicants in order to get approved for that particular card. The eligibility requirements for the Magnus Credit Card are as follows:

• Your age must be between 21 years and 70 years for primary cardholders, and above 18 years for add-on cardholders.
• Your annual income must be at least Rs. 18 lakh (for both salaried and self-employed applicants).

Documents Required

The documents required to apply for the Axis Bank Magnus Card are as follows:

• Identity Proof: Aadhar Card, PAN Card, Voters’ Id, Passport, Driving License, etc
• Address Proof: Aadhar Card, Latest Utility bills, Passport, Driving License, etc.
• Proof of Income: Latest months’ salary slips/bank statements or latest audited ITR.

How to Apply for Axis Magnus Credit Card?

You can apply for Axis bank Magnus credit cards online as well as offline at your convenience. To apply offline,  You’ll you will have to visit your nearest Axis Bank branch with all the required documents in order for your application to be processed. To apply online, you can proceed as follows:

• Click on the Apply Now button at the top of the page.
• Under the option ‘Explore Products,’ click on ‘Cards.’
• Select ‘Credit Cards’ and click on ‘Explore more.’
• Choose the ‘Magnus Credit Card’ and click on ‘Apply Now’ under that.
• Proceed further by filling in all the required details carefully.

Customer Care

For any queries/assistance regarding the credit card, you may dial Axis bank’s retail phone banking numbers- 1860 419 5555 or 1860 500 5555. To block your card, you may contact the 24×7 helpline at +91 22 67987700.

Conclusion

Even though the annual joining fee for the Axis Bank Magnus credit card is high, it is a great option for high net-worth individuals who prefer a premium lifestyle. It offers great benefits for both domestic and international travel, exclusive dining, low interest rate, and a fairly low foreign currency Mark Up fee.

The card is very much similar to HDFC’s Infinia and ICICI’s Emerald cards. One feature that differentiates this card from the other two is the extra medical benefits that it offers. Before you make up your mind, it’s better to read about the benefits that its competitors- HDFC Infinia and ICICI Emeralde offer.

What do you think of this super-premium credit card by Axis bank? And how does it stack up against the competition from HDFC and ICICI? Do let us know in the comments below. If you’re an existing customer, feel free to share your experience for the benefit of others.