Axis Bank Magnus Credit Card

Axis Bank has many amazing credit cards in its portfolio and Magnus is without a doubt one of the best rewarding credit cards. Axis Magnus Credit Card is a popular choice of the year 2022 for super premium credit card holders with good spending.

Here’s what you need to know about this most popular credit card in India at the moment.

Axis Bank Magnus Credit Card Overview

Type	Super Premium Credit Card
Reward Rate	1.2% to 12.4%
Yearly Fee	INR 10,000+GST
Most suitable for	Spends of Rs 1 Lakh per month
USP	Airport meet and greet services

With all the new benefits, Axis Magnus Credit Card can be called the best super premium credit card not only in India but in the world.

Because no other card in the world comes close to the rewards offered on spending 1 lakh per month, which is perfect for most cardholders in this segment.

Axis Bank Magnus Credit Card Fees

Joining Fee	INR 10,000 INR+GST
Welcome Benefit	10,000 INR TataCliq voucher (or) flight ticket
Renewal Fee	INR 10,000 INR+GST
Renewal Benefit	INR 10,000 TataCliq voucher (or) flight ticket
Renewal Fee waiver	On spending > INR 15 lakhs

Note that TataCliq Voucher is a new option offered as a temporary welcome benefit and may be discontinued at any time. Otherwise, if you choose a one-way economy flight ticket, the cost will be limited to INR 10,000.

As far as TataCliq vouchers are available, they are the best option to go with, as they cover the welcome fee apart from the GST portion of around 1800 INR.

Once you make your first txn you will get a link on SMS, by accessing which you can redeem the desired welcome benefit in a few clicks. If not received, call Axis Concierge (18001034962) after generating 2 statements.

The Card

Now Axis Bank Magnus Credit Card contains a metal form factor on Visa Infinite platform. Even without the metal form factor, the card looks decidedly premium.

You can’t easily distinguish a metal Magnus from a non-metal Magnus anyway. So if you have a previously issued plastic card under the MasterCard platform, there is nothing to worry about.

Rewards

Type of Spend	Reward (RP or INR)	Rate of Reward (EDGE Rewards Portal)	Rate of Reward (Points Transfer)
Regular Spend	12 RP / 200 INR	1.2%	2.4% – 4.8%
Axis Travel Edge Portal	60 RP / 200 INR (5X)	6%	12% – 24%

The regular reward rate on Edge Rewards on Magnus isn’t really exciting. However, with 2X promos and 3X promos that come at a time, it’s easy to save well on what HDFC Infinia and other super-premium cards have to offer.

5X is a new and cool benefit on the TravelEdge portal that you may find useful for booking flights.

Ideally, converting your points to a newly introduced points transfer partner is the best way to get the most out of Axis Rewards.

What this does is that it improves the “point value” from the usual 20 points (Edge rewards portal redemptions) to 40 points (ITC/Marriott transfers) or even 80 points if you explore airline partners.

Milestone Rewards

• Rewards: 25,000 points on 1 lac spend (per calendar month)
  
  
• Fulfillment: 90 days from the end of txn month

The monthly milestone benefit is a newly added feature from February 2022 and is the reason why a Magnus credit card makes sense for high spenders.

This is because no card with easy redemption options offers a 6.2% value. And if you decide to play with point transfer partners, that’s at least ~12.4% savings.

While that’s a great benefit, the fulfillment period is a bit long which may bother some short-term points players.

Caution: If you are applying for the card and are approved this month, note that the milestone benefit will only apply from next month. Your Approval Month (or) Card Setup Date is the date you receive the “Card Approved” SMS.

An easy way to double check on this is to look at the issue/expiration date printed on your card, just add +1 to it. If your expiry date is 05/27 (May/2027), ideally your expenditure is eligible from June onwards.

Airport Lounge Access

Type of Access	Through	Limit	Guest Access
Domestic Lounge Access	Visa / Mastercard	Unlimited	–
International Lounge Access (Primary)	Priority Pass	Unlimited	8

Guest access is good on Priority Pass (for international lounge access) and is limited to 8 accesses per “card anniversary year”. It is enough to cover access for your family.

Wish they would have offered complimentary guest access for domestics as well, as Axis currently has technical challenges issuing add-on cards.

But as long as you’re able to get add-on cards (hit or miss as of now), it also comes with unlimited local lounge access.

Airport Meet & Greet

• Complimentary Access: 8/year

Airport Meet and Greet Service – What Axis Bank calls “Airport Concierge” service is the USP of this product. It offers VIP assistance services for easy and hassle-free airport transportation.

Services include assistance with airport procedures, such as express check-in, fast-track security checks, immigration assistance, and porter and buggy services.

Golf Benefit

• Complementary Courses/Lessons: Nil

Unlike most other premium and super premium credit cards, Axis Magnus does not have a complimentary golf benefit.

This is because they basically replace golf benefits with airport meet-and-greet services to reduce costs, which certainly makes sense.

However, if you hold the MasterCard variant, you are eligible for the MasterCard World Golf benefit which offers 1 free lesson per month and a maximum of 4 games per year.

Add-On Cards

Getting add-on cards with any Axis Bank credit card is difficult now but is improving. It cannot be applied independently unless there are additional approvals.

However, it can still be applied for while applying for the primary card but may or may not be processed as expected.

If you’re looking for peace of mind, I wouldn’t suggest getting add-on cards. Because even if you get it, you need to call support every time to change your PIN, etc, as add-on cards cannot be accessed online.

Let us hope Axis bank will fix this add-on card issue soon.

Bookmyshow Offer

• Offer: Buy one Get one
  
  
• Valid on movie/non-movie bookings
  
  
• Max. Cap: INR 500 off on the second ticket
  
  
• Monthly limit: 5 bookings per month

Bookmyshow offer is really good and if you are in metro cities where the ticket price is easily 500 INR, this is a great advantage. Otherwise, the Visa Unlimited offer is enough for most people.

That said, Visa offers can grow much faster than direct BMS offers on Magnus, so a separate Magnus offer still makes sense.

Forex Markup Fee

• Foreign Currency Markup Fee: 2%+GST = ~2.4%

If you redeem your points for a point transfer partner, you ideally end up with no profit/no loss. If you play the air-mile game, yes, you will gain around 2.4% but that’s not for everyone.

But if you spend 1 lakh in a month, you will definitely end up with an overall benefit as you will get a milestone benefit.

Who Should Opt For This Credit Card?

This card has many benefits. It also takes into account the health benefit, which gives the card an extra point, as no other card offers so many health-related benefits. Moreover, this card not only focuses on health but also offers great benefits for entertainment and lifestyle. The reward points of this card are very high, which earns extra points. This makes you pick this card instead of picking some other random card.

How is this card better than other credit cards?

• Reward points can be redeemed from Axis Bank’s unique and private catalogue.
  
  
• Fees and Charges for Axis Bank Magnus Credit Card Implant Cash Payment Fee, Annual Fee, Joining Fee, Withdrawal Fee, and Certain Penalties (if any).

How to Apply?

Customers who desire to avail of this credit card can apply for the same by visiting the official website of Axis Bank. They can also visit the closest Axis Bank branch and contact a representative who will direct them through the procedure.

Customers have to submit certain documents to establish their identity, income, and address. They also have to submit a copy of their PAN card or Form 60. In the case of an online application, the bank representative will call the customer to fix the date and time to collect the document.

Once verified the customer can expect their new card within 14 days.

Documents Required

Identity Proof	Aadhaar Card, Voter’s ID Card, Passport, PAN Card, Driving Licence, Photo Credit Card, Photo ID Proof issued by Central and State Govt., Defence ID Card, etc. (anyone)
Residence Proof	Passport, Bank Account Statement, Aadhaar Card, Ration Card, Voter’s ID Card, Letter from any recognized public authority, Electricity Bill, Telephone Bill, Water Bill (not more than 3 months old), etc. (anyone)
Income Proof	Bank Statements (not more than 3 months old), Salary Slips (not more than 3 months old), Form-16, ITR, etc. (anyone)

Bottom line

Axis Magnus Credit Card is one of the amazing credit cards that Axis Bank has ever made. It is a must-have card for those spending ~1 lakh per month, as it is the most rewarding credit card in India at that spending level with easy redemption options.

With unlimited lounge access, milestone rewards, and airport concierge service, Axis Magnus is worth keeping in the wallet in 2022 if you’re looking for exciting rewards and premium experiences in life.

The only downside is service and support, which I hope will improve when the Citi merger goes live.

FAQs about Axis Bank Magnus Credit Card