Axis Bank Magnus Credit Card Review

Magnus Credit Card was launched today by Axis Bank. This is a high-end credit card from Axis Bank that is targeted at high-net-worth individuals (HNIs) and affluent customers. There is a “World” tier for this new card on the Mastercard network. Despite the fact that Axis Bank already offers the Vistara Infinite Credit Card for its super premium segment, the card was never accepted due to Vistara’s limited connectivity. Axis Bank has attempted to tap into the super premium credit card segment once more with the introduction of the Magnus Credit Card.

Following the launch of the Flipkart Credit Card, which is considered to be one of the best credit cards for beginners, Axis Bank has shifted its attention to high-end customers. It’s worth mentioning that Axis Bank already offers an invite-only credit card, the Axis Reserve, with a Rs.30K annual fee.

Axis Bank Magnus Credit Card Review

Axis Magnus Review – Axis Bank has been successfully serving the top end segment with its highly rewarding Vistara Infinite Credit card, but due to the limited network of Vistara, not all customers have been able to take advantage of the card’s benefits. In response, Axis Bank has launched a new credit card, the “Axis Magnus Credit Card“, which operates on the Mastercard network, in an attempt to capture market share in the super premium credit card segment.

The card appears to be of high quality, and the vertical clean layout adds to the overall aesthetics of the card. It has a premium appearance due to the minimalist design and black background.

Axis Bank is a private sector bank in India that offers a range of credit cards to its customers. If you are interested in getting an Axis Bank credit card, you can apply for one online on the bank’s website or at a branch near you. To apply, you will need to provide some personal and financial information and meet the eligibility requirements set by the bank.

Here are the steps you can follow to get an Axis Bank credit card:

1. Choose the type of credit card you want: Axis Bank offers a variety of credit cards with different features and benefits. You can choose a card that best suits your needs and spending habits.
2. Check the eligibility criteria: Different credit cards have different eligibility criteria, such as age, income, and credit score. Make sure you meet the eligibility criteria before applying.
3. Gather the required documents: To apply for an Axis Bank credit card, you will need to provide some documents, such as proof of identity, proof of address, and proof of income.
4. Apply online or visit a branch: You can apply for an Axis Bank credit card online on the bank’s website or visit a branch near you to apply in person.
5. Wait for the bank’s decision: The bank will review your application and may ask for additional documents or information. Once your application is approved, the bank will send you the credit card and the terms and conditions of the card.

I hope this helps. Let me know if you have any other questions.

Axis Bank Magnus Credit Card Eligibility Criteria

The eligibility criteria (axis magnus eligibility) for the Axis Bank Magnus Credit Card are as follows:

• Age: The primary cardholder must be between 18 and 70 years of age. The add-on cardholder must be over 18 years of age.
• Annual income: The primary cardholder’s annual income must be at least Rs. 18 lakh.
• Residential status: The applicant must be a resident of India.
• Documents: The following documents are required to apply for the Axis Bank Magnus Credit Card:
  • PAN card or Form 60
  • Proof of income (such as IT return copy, Form 16, or latest pay slip)
  • Proof of residence (such as passport, landline telephone bill, electricity bill, driving licence, etc.)

If you meet the eligibility criteria, you can apply for the Axis Bank Magnus Credit Card online or by visiting a nearby Axis Bank branch.

Axis Bank Magnus Credit Card Joining Fee

The joining fee for the Axis Bank Magnus Credit Card is Rs. 10,000 + GST. This fee (axis magnus joining fee waiver) is waived off if you spend Rs. 15 lakhs or more in the previous year.

The annual fee for the Axis Bank Magnus Credit Card is also Rs. 10,000 + GST. This fee (axis magnus annual fee waiver) is waived off if you spend Rs. 15 lakhs or more in the previous year.

• The joining fee is Rs. 10,000 plus GST.
• Fee for renewal: Rs. 10,000 plus GST
• If you spent more than 15 lakh rupees in the previous year, the renewal fee is waived.
• Axis bank magnus credit card fee is Rs 10,000 plus GST

Axis Bank Magnus Credit Card Features

Axis magnus credit card benefits – The Axis Bank Magnus Credit Card comes with a slew of bells and whistles, as well as some interesting features.

Benefits for New Customers and Existing Customers

• On joining, you will receive a complimentary flight ticket worth up to Rs. 10,000.
• It goes without saying that this card makes up for the joining fees it charges with an equal number of complimentary flight tickets. However, there is no mention of the benefits of renewing the contract.

Reward Points

• 12 Axis eDGE reward points are earned for every Rs. 200 spent, resulting in a reward rate of 1.2 percent.
• 2x Axis eDGE reward points on MakeMyTrip, Yatra, and Goibibo, with a reward rate of 2.4 percent.
• The reward rate on this credit card is only mediocre, and it is the credit card’s weakest point. As a matter of fact, many cards in this segment offer a much higher reward rate than this.

Travel and Accommodations

• 8 complimentary VIP Assistance Services are included in the price of the package.
• Priority Pass provides 8 complimentary international airport lounge access (card member and guest), with an additional 4 complimentary international airport lounge access on spending Rs. 7 lakh or more using Priority Pass.
• Using the Mastercard lounge programme, you will have unlimited access to domestic lounges.
• Oberoi Hotels in India are offering a 15 percent discount as well as a complimentary room upgrade.
• The addition of complimentary guest access to international airport lounges is a welcome addition, as no other credit card currently offers this benefit.

Entertainment and a way of life

• Buy 1 get 1 up to Rs. 500 off on movies, activities, events, and other activities at BookMyShow, but only up to 5 times per month.
• Complimentary Dineout Plus members receive a 20 percent discount at participating restaurants in the Dining Delights programme.
• Discounts on activities and events are a novel concept, and the 5-times-per-month limit is a generous one. Dining out at five-star hotels can be cheaper with a Dineout Plus membership, which can save you up to 25%.

Health and Well-Being

• A purchase protection of Rs. 2 lakhs is provided.
• Credit Insurance Coverage of Rs. 5 Lakhs
• A total of Rs. 4.5 crores is set aside for air accident insurance.
• Offers complimentary services as well as special discounts at a select number of spa and salon partners
• Preventive healthcare packages that are tailored to your needs
• Travel & Medical Assistance Throughout the World
• With the exception of Air Accident coverage, these benefits are nice to have but are not required.

Aside from that, there are some advantages.

• 2 percent reduction in the foreign markup
• APR of 2.5 percent is a lower rate.
• Waiver of the 1 percent fuel surcharge
• 24×7 dedicated concierge service for flight bookings, table reservations, gift deliveries, and other requests of this nature.
• Having a 2 percent reduction in foreign markup is an extremely attractive offer. A lower APR of 2.5 percent is also available, but I would not recommend taking advantage of it.

Axis Bank Magnus Credit Card Fees & Charges

Axis Bank Magnus Credit Card Documentation

The below documents are required for application:

• PAN card photocopy or Form 60
• Latest payslip/ Form 16/IT return copy as proof of income
• Residence proof (Passport/Driving license/ Electricity Bill/ Landline telephone bill)

How to get Axis Magnus Credit Card?

After reading Magnus card review you will eager to get Axis Magnus credit card. Sure, here are the steps on how to get an Axis Magnus Credit Card:

1. Make sure you meet the eligibility criteria.
2. Gather the required documents.
3. Apply online or offline.
4. Wait for Axis Bank to review your application.
5. If approved, you will receive your card in the mail within a few weeks.

Here are the eligibility criteria for the Axis Magnus Credit Card:

• Age: 18 to 70 years old
• Annual income: Rs. 18 lakh or more
• Residential status: Indian resident

The required documents for applying for the Axis Magnus Credit Card are:

• PAN card or Form 60
• Proof of income (such as IT return copy, Form 16, or latest pay slip)
• Proof of residence (such as passport, landline telephone bill, electricity bill, driving licence, etc.)

You can apply for the Axis Magnus Credit Card online or offline. To apply online, go to the Axis Bank website and click on the “Apply Now” button for the Magnus Credit Card. To apply offline, visit your nearest Axis Bank branch and ask for an application form.

Once you have submitted your application, Axis Bank will review it and contact you if they need any further information. If your application is approved, you will receive your card in the mail within a few weeks.

Axis Bank Magnus Credit Card Devaluation

Yes, Axis Bank has announced that it will be devaluing the Axis Magnus Credit Card. The devaluation will take effect on August 13, 2023.

Under the new rewards program, cardholders will earn 1 eDGE Reward Point for every Rs. 100 spent on the card. This is a significant decrease from the current rewards program, which offers 2 eDGE Reward Points for every Rs. 100 spent.

The devaluation has been met with criticism from some cardholders. They argue that the new rewards program is not as generous as the old one, and that it will make it more difficult to earn rewards.

Axis Bank has defended the devaluation, saying that it is necessary to make the rewards program more sustainable. The bank also says that the new rewards program will still offer a lot of value to cardholders.

Whether or not the devaluation is a good thing is a matter of opinion. However, it is important to be aware of the changes before you decide whether or not to keep the Axis Magnus Credit Card.

Here are some of the key changes to the Axis Magnus Credit Card rewards program:

• The number of eDGE Reward Points earned per Rs. 100 spent will decrease from 2 to 1.
• The cap on the number of eDGE Reward Points that can be earned per month will decrease from 50,000 to 25,000.
• The number of eDGE Reward Points required to redeem a reward will increase.

These changes will make it more difficult for cardholders to earn rewards and redeem them for travel and other benefits. However, Axis Bank says that the new rewards program will still offer a lot of value to cardholders.

If you are considering applying for the Axis Magnus Credit Card, it is important to be aware of the changes to the rewards program. You may want to consider other credit cards that offer a more generous rewards program.

Axis Bank Magnus Credit Card F.A.Q