Axis Bank Magnus Credit Card

By: OurMoneyGuide || Last updated on: May 1, 2024

Axis Bank Magnus Credit Card is one of the best premium cards in India, with a minimum annual income requirement of ₹24 lakhs. You get attractive rewards on travel spends, and also lifestyle benefits like unlimited airport lounge access both in India and abroad, dining and insurance benefits.

Brief Summary

Features & Benefits of the Axis Bank Magnus Credit Card

6% – 12% reward on travel spends till ₹2 lakhs per month || 3.50% – 7% reward on travel spends above ₹2 lakhs per month (5X)

Travel spends means-
– airline bookings on Axis Travel EDGE Portal
– hotel bookings on Axis Travel EDGE Portal

6% – 12% reward on travel spends till ₹2 lakhs per month
✓ 6% reward : You earn 30 EDGE reward points worth ₹6, on every ₹100 you spend on travel spends. 1 EDGE reward points = 0.20, and can be redeemed on EDGE rewards platform for vouchers, products and more
✓ 12% reward : You earn 30 EDGE reward points worth 12 partner points (of airlines & hotels), on every ₹100 you spend on travel spends. 1 EDGE reward point = 0.40 partner points (5 EDGE reward point = 2 partner points).

3.50% – 7% reward on travel spends above ₹2 lakhs per month
✓ 3.50% reward : You earn 17.50 EDGE reward points worth ₹3.50, on every ₹100 you spend on travel spends. 1 EDGE reward points = 0.20, and can be redeemed on EDGE rewards platform for vouchers, products and more.
✓ 12% reward : You earn 17.50 EDGE reward points worth 7 partner points (of airlines & hotels), on every ₹100 you spend on travel spends. 1 EDGE reward point = 0.40 partner points (5 EDGE reward point = 2 partner points).

Airline & Hotel partners
– Airline partners: AirAsia, Air Canada, Air France – KLM, Ethiopian Airlines, Etihad Airways, Japan Airlines, Qantas Airways, Qatar Airways, Singapore Airlines, Spicejet, Thai Airways, Turkish Airlines, United Airlines, Vistara
– Hotel partners: Accor, ITC, IHG Hotels and Resorts, Marriott International Wyndham Hotels & Resorts
5 EDGE reward points = 2 partner points. For more details, please click here.

→ Please note
✓ You cannot convert more than 5 lakh EDGE reward points to partner points, in a year. There are further restrictions – on a certain set of partners (Group A) you can transfer of maximum of 1 lakh EDGE reward points in a year , while on the other set (Group B) you can transfer a maximum of 4 lakh EDGE reward points in a year, please see below-
– Group A : Accor Hotels (Accor Live Limitless), Air Canada (Aeroplan), Ethiopian Airlines , Etihad (Etihad Guest), Japan Airlines (JAL Mileage Bank), Marriott International ( Marriott Bonvoy), Qatar Airways, Singapore Airlines (Krisflyer), Turkish Airlines, Thai Airways ( Royal Orchid Plus), United Airlines (MileagePlus), Wyndham Hotels (Wyndham Rewards)
– Group B : Air France-KLM (Flying Blue), Air India (Flying Returns), Air Asia, ITC, IHG® Hotels & Resorts (IHG One Rewards), Qantas Airways (Qantas Frequent Flyer), SpiceJet, Vistara (TATA SIA Airlines Ltd)

For the year 2024, customer can convert 5 lakh EDGE reward points from 20th April 2024 – 31st December 2024. From next year onwards, capping will be applicable from 1st Jan’25 to 31st Dec’25. For more details, please click here.

1.20% – 2.40% reward on all other card spends till ₹1.50 lakhs per month || 3.50% – 7% reward on all other card spends above ₹1.50 lakhs per month (X)

1.20% – 2.40% reward on all other card spends till ₹1.50 lakhs per month
✓ 1.20% reward : You earn 6 EDGE reward points worth ₹1.20, on every ₹100 you spend on all other card spends. 1 EDGE reward points = 0.20, and can be redeemed on EDGE rewards platform for vouchers, products and more
✓ 2.40% reward : You earn 6 EDGE reward points worth 2.40 partner points (of airlines & hotels), on every ₹100 you spend on travel spends. 1 EDGE reward point = 0.40 partner points (5 EDGE reward point = 2 partner points).

3.50% – 7% reward on all other card spends above ₹1.50 lakhs per month
✓ 3.50% reward : You earn 17.50 EDGE reward points worth ₹3.50, on every ₹100 you spend on all other card spends. 1 EDGE reward points = 0.20, and can be redeemed on EDGE rewards platform for vouchers, products and more.
✓ 7% reward : You earn 17.50 EDGE reward points worth 7 partner points (of airlines & hotels), on every ₹100 you spend on travel spends. 1 EDGE reward point = 0.40 partner points (5 EDGE reward point = 2 partner points).

→ Please note
✓ EDGE reward points are not given on the following card spends – gold/ jewellery, wallet, government institution, insurance, fuel, utilities merchants, payment of card fees & charges.

✓ On rent payments, reward points are given only on rent payments upto ₹50,000 per month. Beyond this amount, no EDGE reward points are given.

Unlimited complimentary airport lounge access – both in India and abroad

Unlimited free visits to international airport lounges
– You enjoy unlimited complimentary international lounge visits through the Priority Pass Program. This is valid only for the primary cardholder, who shall get the Priority Pass Card.
– You are also allowed 4 complimentary guest visits per calendar year, the guest/s need to be accompanying you.
– You need to swipe the Priority Pass Card at eligible airport lounges. You can check eligible lounges at www.prioritypass.com.

Unlimited free visits to domestic airport lounges
– You enjoy unlimited complimentary domestic lounge visits in India, including your add-on cardholders.
– This benefit is valid only if you have spent a minimum of ₹50,000 on your credit card, in the previous 3 months. In the case of newly issued cards, this card spend requirement is waived off for the month of issuance as well as for the following 3 months.
– For list of eligible lounges, please click here.
– You need to swipe your Axis Bank Magnus Credit Card at the eligible airport lounges to avail your free visits. A transaction of ₹25 will be made on the credit card for authentication, which will be reversed within 24 working hours.

40% discount (upto ₹1000) once a month, at participating restaurants – dining offer in partnership with EazyDiner (Dining Delights Program)

You get a 40% discount up to ₹1000 on your restaurant orders, at over 4,000 restaurants nationwide. Minimum order amount required is ₹2500. 

Hence you get a 40% discount on orders of ₹2500. On orders above ₹2500, your discount percentage falls below 40% since the maximum discount is fixed at ₹1000. 

This offer can be redeemed once every month. For a list of participating restaurants and more information, please visit here.

Complimentary insurance benefits

✔︎ Counterfeit/ loss card insurance cover upto the credit limit of your card. This protects in you lose your card, and there are fraudulent transactions on your card.
✔︎ Credit shield insurance cover of ₹5 lakhs. This protects in the unfortunate event of credit card outstanding being unpaid due to disability or death of cardholder.
✔︎ Upto USD 500 insurance cover in case of loss/delay of baggage and/travel documents
✔︎ Purchase protection insurance cover of 2 lakhs

For full details and terms and conditions, please refer to the Axis Insurance Detailed Terms and Conditions.

Fuel surcharge waiver, upto ₹400 per month

You get 1% fuel surcharge waiver on all fuel transactions between ₹400 and ₹4000. And on fuel purchases till ₹40,000 per month, since the maximum waiver amount is capped at ₹400 per monthly card statement cycle.

Eligibility Criteria

*The above criteria are only indicative. The bank reserves the right to approve or decline applications for credit card.

Application Process

Step-by-step

Necessary documents and verification