Axis Magnus Credit Card Unboxing

The Axis Magnus credit card was introduced by Axis Bank sometime in 2019 and was only average at the time. The benefits of the Axis Magnus credit card have recently changed, and this, combined with the simultaneous devaluation of the HDFC Infinia and DCB, has made it a very good card to own.

In August 2022, Axis Bank added a number of transfer partners (airlines and hotel chains) to Magnus credit cards. Magnus is now arguably India’s best credit card thanks to this single action.

We will discuss my opinions of the Axis Magnus credit card in this article and compare it to the HDFC Infinia and DCB cards to determine whether Magnus is truly superior to Infinia/DCB.

Payment and Eligibility

• Fees are waived at annual spends of 15 lakhs and are INR 10,000 + GST for joining and annual fees.

Benefits and Rewards:

• Joining Perk:
  • joining benefit of a domestic flight worth $10,000 or a $10,000 Tata Cliq gift card.
  • If the yearly fee is paid, this is also applicable upon renewal.
    
    
• Recurring Advantages:
  • For a maximum of 5 movies or non-movie bookings in a month, BOGO on BMS offers up to Rs. 500 off on the second ticket.
    
    
• Bonus Points:
  • 1 reward point is equal to 0.20 paisa (1.2% reward rate), and there are 12 reward points awarded for every INR 200 spent.
  • Accelerated Reward Rate: 6% reward rate with 5x reward points (60 RPs) awarded for every INR 200 spent on travel through Travel Edge. a 10,000 point cap per month.
  • Milestone Reward Rate: 25,000 RPs worth INR 5,000 on monthly INR 1 Lakh spends (i.e., a 5% reward rate).
    
    
• Lounge RATE: Domestic: Holders of primary and add-on cards have unrestricted free access to domestic lounges.
  • International: The primary cardholder receives unrestricted free access to the lounge. 8 visitors are permitted per year.
  • Airport Concierge Service: 8 complimentary full-service VIP amenities are available at Indian airports.

The Criterion for Axis Bank’s Magnus Credit Card

Axis Magnus Credit Card Eligibility – Because high-net-worth individuals (HNIs) are the primary audience for the Axis Magnus Credit Card, the eligibility requirements were created with their requirements in mind.

• 18 to 70 years of age range
  
  
• 18 lakhs rupees (on an annual basis) is the salary.
  
  
• ITR for self-employed individuals is above Rs. 18 lakhs annually.

Joining Fee for the Axis Bank Magnus Credit Card

Axis Magnus credit card fees – The Axis Bank Magnus Credit Card has the following fees:

• GST is added to the joining fee of Rs. 10,000.
  
  
• Rs. 10,000 in renewal fees plus GST
  
  
• The renewal fee is waived if you spent more than 15 lakh rupees the previous year.
  
  
• The fee for an Axis Bank Magnus credit card is Rs 10,000 plus GST.

What we think about the Axis Magnus credit card

Since January 2019, there has been an Axis Magnus credit card available. However, the card’s low reward rate of 1.2%, high annual fee of Rs 10,000, and extremely high fee waiver threshold of Rs 15 lakhs made it very subpar. The card is now quite interesting thanks to changes made by Axis Bank to the rewards program. There are changes.

• Benefits for reaching monthly milestones: 25,000 Rewards Points worth 5,000 INR on monthly spending of 1 lakh INR (i.e., a 5% reward rate). With just this one modification, the reward rate on the card goes up from 1.2% to 6.2%. Only wallet purchases are taken out of the equations.
  
  
• Accelerated Reward Rate: 6% reward rate with 5x reward points (60 RPs) awarded for every INR 200 spent on travel through Travel
  Edge. Bookings made through its Travel Edge portal will result in a 6% reward rate.
  
  
• Access to all international lounges is provided to the primary cardholder through Priority Pass.
  
  
• As transfer partners, the airline and hotel loyalty programs: Axis has made a number of transfer partners available at a very profitable conversion ratio (5:4). One can easily score almost 7 business class tickets to Singapore at this conversion ratio.

Features of the Axis Bank Magnus Credit Card

Benefits of the Axis Bank Magnus Credit Card include a plethora of bells and whistles as well as some unique features.

Benefits for Both New and Current Customers

• You will get a free flight upon joining, up to a value of Rs. 10,000.
  
  
• It should go without saying that this card makes up for the initiation fees it charges with an equal number of free flights.  The advantages of extending the contract are not mentioned, though.

Reward Points

• For every Rs. 200 spent, 12 Axis eDGE reward points are earned, yielding a reward rate of 1.2 percent.
  
  
• On MakeMyTrip, Yatra, and Goibibo, you can earn 2x Axis eDGE reward points with a reward rate of 2.4 percent.
  
  
• The reward rate of this credit card is its weakest component because it is only average. The truth is that many cards on the market offer reward rates that are much higher than this.

Accommodations and Travel

• The cost of the package includes eight complimentary VIP Assistance Services.
  
  
• In addition to giving cardholders and guests access to 8 complimentary international airport lounges, Priority Pass offers an additional 4 lounge passes for every Rs. 7 lakh in Priority Pass purchases.
  
  
• You will have unrestricted access to domestic lounges if you use the Mastercard lounge program.
  
  
• India’s Oberoi Hotels are providing a 15% discount in addition to a free room upgrade.
  
  
• There are currently no other credit cards that provide complimentary guest access to international airport lounges, so this benefit is a welcome addition.

A way of life and entertainment

• Movies, events, activities, and other activities at BookMyShow are bought one, get one up to Rs. 500 off, but only up to five times per month.
  
  
• Free Dineout Plus members get a 20% discount at participating restaurants when they sign up for the Dining Delights program.
  
  
• The idea of discounts on activities and events is new, and the 5-times-per-month restriction is kind. A Dineout Plus membership, which can save you up to 25%, can help you save money when eating at five-star hotels.

Wellness and Health

• There is a two lakh rupee purchase protection offered.
  
  
• Coverage for credit insurance of Rs. 5 lakh
  
  
• The total budget set aside for air accident insurance is Rs. 4.5 crore.
  
  
• Provides special discounts and complimentary services at a select group of spa and salon partners.
  
  
• packages for preventive care that are individualized for you
  
  
• Travel and Medical Assistance Worldwide
  
  
• These benefits are nice to have but not necessary, with the exception of Air Accident coverage.

There are some benefits in addition to that.

• The foreign markup APR of 2.5 percent has a 2 percent reduction, which is a lower rate.
  
  
• The 1% fuel surcharge will not be applied.
  
  
• Flight bookings, restaurant reservations, gift deliveries, and other requests of this nature are handled by a dedicated 24-hour concierge service.
  
  
• It is a very alluring offer to have the foreign markup reduced by 2%. A lower APR of 2.5 percent is also offered, but we  do not advise utilizing it.

Additional Rewards

You may also be qualified for the following additional benefits:

• If you spent Rs. 15 lakh with the Magnus Credit Card in the previous year, the annual fee of Rs. 10,000 plus taxes is waived.
  
  
• 2.5% less expensive interest rate if credit is given
  
  
• When you transact in foreign currency, the markup fee is discounted by 2%.
  
  
• No fees for cash withdrawals
  
  
• 1% of fuel surcharges are waived for transactions between Rs. 400 and Rs. 4,000.
  
  
• For each rupee of Rs. 200 spent, you earn 12 Axis Edge Rewards Points.
  
  
• For purchases made at sites like Yatra, MakeMyTrip, GoIbibo, etc., you get 2X Axis EDGE REWARDS Points.
  
  
• 24-hour dedicated concierge service

Axis Bank Magnus Credit Card Eligibility Requirements

The following are the requirements you must meet in order to apply for an Axis Bank Magnus Credit Card:

• You must be between the ages of 18 and 70.
  
  
• The primary cardholder’s age must be at least 18 years old.
  
  
• You ought to be a resident of India.
  
  
• You must make a minimum of Rs. 18 lakh per year, or file an annual income tax return totaling Rs. 18 lakh.

These documents are required in order to apply for an Axis Bank Magnus credit card.

The list of documents you must submit to apply for an Axis Bank Magnus Credit Card is provided below.

• a photocopied Form 60 or PAN Card
  
  
• Income documentation such as the most recent pay stub, Form 16, or IT return copy
  
  
• Documents that serve as proof of residency include a passport, a landline phone bill, an electricity bill, a driver’s license, etc..

*Note: Please be aware that the list of required documents is illustrative and subject to change depending on the circumstances.

Procedures for Applying for an Axis Bank Magnus Credit Card

The steps you must take in order to apply for an Axis Bank Magnus Credit Card are listed below:

• Visit the Axis Bank website.
  
  
• Click on “Credit Card” after scrolling down.
  
  
• You must click “Axis Bank Magnus Credit Card” on the new page that will appear after you are forwarded there.
  
  
• Once you click “Apply Now,” you will be taken to a new page.
  
  
• Check the box to indicate whether you are currently an Axis Bank customer or not.
  
  
• Enter the required information, including your name, state, city of residence, mobile number, information about your job, and your monthly income.
  
  
• To continue, enter the code and check the box to authorize the lender to contact you about your credit card application. Select “Call Me”
  
  
• You will be contacted by a bank representative who will assist you with the Axis Bank Magnus Credit Card application process.

Additionally, you could bring the required paperwork to the closest Axis Bank branch. You will receive assistance from a bank representative during the application process for the Axis Bank Magnus Credit Card.

Axis Magnus versus HDFC Diners Black versus HDFC Infinia

It is quite obvious for everyone to compare these cards because the devaluation of HDFC cards and the tweaking of benefits on Axis Magnus occurred at the same time.

Axis Magnus, however, is far superior to HDFC Infinia/DCB when one considers the miles conversion (assumed transfer to KrisFlyer in the calculator).

• HDFC Twins are still slightly superior to Magnus if you only take the monetary value of points into account. Axis Magnus outperforms nearly all other credit cards by a significant margin when you factor in the miles conversion, though.
  
  
• Furthermore, because the conversion ratio appears to be too good to be true. Even if you consider that Axis Magnus’s eventual devaluation to 5:1 from a 5:4 ratio; Magnus’s conversion ratio still will very be similar to that of HDFC Infinia/DCB.
  
  
• Not to mention the highlight of Axis Magnus credit card – its clean reward structure. Spending results in a base reward rate of 1.2%; if you spend more than Rs. 1 lakh in a month, you receive a further reward rate of 5%. The difficulty with HDFC cards is that the 5x/10x program has been changed to 2x/3x/5x/10x, making it hard to recall the eventual reward rate you will receive.

The point-transfer method on Axis Magnus

• The Axis TravelEdge platform is still in its infancy. It displays some extremely odd conversion ratios. It displays a 10:1 ratio for some and a 5:1 ratio for others. So prior to transferring the points, let Axis Bank fix these bugs.
  
  
  
• The conversion ratio appears to be too good to be true. Therefore, continue transferring your points at regular intervals rather than waiting for a bonus transfer offer. Enjoy the festivities as long as they last.
  
  
• Quick devaluation is to be anticipated. like the credit card types for the RBL Zomato Edition. It could take the form of a change in the conversion ratio, the exclusion of specific purchases (like rent, insurance, fuel, etc.) from monthly bonus points, or just a reduction in bonus points (say, from 25k to 10k).

Below is a list of the features that Axis Magnus differs from HDFC Twins in and where HDFC Cards fall short in comparison.

• No 70% rule: HDFC cards have a restriction that only allows 70% of the booking amount to be offset against points. As of right now, Axis Magnus is well-structured. You can receive a statement credit for the entire reward balance at a 20p rate.
  
  
• Airport concierge service: Although this is nothing more than a glorified porter service at airports, the likelihood that I will use it is higher than the complimentary golf rounds that HDFC cards provide.
  
  
• A useful offer, the 5*500 BOGO on BMS will undoubtedly be utilized at least once per month, if not more. particularly at this time when Covid is about to end. Magnus’s annual reward rate could possibly be increased by INR 6000. On milestone purchases, DCB does offer 500 BMS vouchers every month, but Infinia does not offer anything similar.
  
  
• Axis Bank now has 12 transfer partners compared to HDFC Infinia/DCB’s 3 partners.

Should you submit an application for Axis Magnus?

• We stated We had high hopes of getting that upgrade. The upgrade and any limit increase were not provided by HDFC, though.
  
  
• The reasoning behind this was that because my spending exceeds $1,500 per month 2-3 times per year, the reward rate for DCB and Magnus will be roughly the same (6–8%). Therefore, it would be better to take Magnus and keep DCB until renewal.
  
  
• With the addition of new transfer partners on Axis Magnus, the dynamics have completely changed, and Axis Magnus is destined to become the most sought-after credit card in India.

Should you submit an application as well? Answer: Obviously, yes, if you’re playing the Airmiles game.  If you are interested in the dollar value of points, you must have a monthly bill of Rs 1,500 or more.f you are not in either of these two camps, use the dynamic calculator to see where you can get better returns.

Conclusion

Axis Bank today announced the launch of the Magnus Credit Card. This premium credit card from Axis Bank is intended for high-net-worth individuals (HNIs) and wealthy users. With its updated benefits and transfer partners, Axis Magnus is currently arguably India’s best credit card for frequent travelers.

This new card has a “World” tier on the Mastercard network. Although Axis Bank already offers the Vistara Infinite Credit Card for its super-premium segment, the card was never accepted because of Vistara’s poor connectivity. With the launch of the Magnus Credit Card, Axis Bank has made another effort to capitalize on the super-premium credit card market.

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