The Axis Bank Magnus Credit Card is Axis Bank’s flagship super-premium card, targeted at high-net-worth individuals and affluent customers. Launched on the Mastercard “World” tier, it was Axis Bank’s renewed attempt to capture the super-premium segment after the Vistara Infinite Credit Card struggled with Vistara’s limited connectivity. With a ₹10,000 fee, a complimentary flight ticket as a welcome benefit, and generous lounge access, Magnus made headlines — and then made them again with its 2023 devaluation. Here’s the full picture.
Axis Bank Magnus Credit Card: Quick Overview
| Parameter | Details |
| Joining Fee | ₹10,000 + GST |
| Renewal Fee | ₹10,000 + GST (waived on annual spends of ₹15 Lakh+) |
| Welcome Benefit | One-way flight ticket worth up to ₹10,000 |
| Eligibility | Annual income (ITR) of ₹18 Lakh & above |
| Network | Mastercard World |
| Forex Markup | 2% (reduced) |
The card itself looks the part — a minimalist vertical layout on a black background gives it a genuinely premium feel. For context, Axis Bank also runs the invite-only Axis Reserve at a ₹30,000 annual fee, and the beginner-friendly Flipkart Axis Bank Credit Card at the other end of its lineup.
Reward Points
- 12 Axis eDGE reward points per ₹200 spent — a reward rate of 1.2%.
- 2X eDGE points (2.4%) on travel spends via MakeMyTrip, Yatra, and Goibibo.
The reward rate is the card’s weakest point — several cards in this segment offer noticeably higher earn rates. Magnus compensates through travel and lifestyle privileges instead.
Travel Benefits
- Priority Pass: 8 complimentary international airport lounge visits (cardmember and guest), plus 4 additional visits on spending ₹7 Lakh or more.
- Unlimited domestic lounge access via the Mastercard lounge programme.
- 8 complimentary VIP Assistance Services.
- Oberoi Hotels: 15% discount plus complimentary room upgrade in India.
Complimentary guest access to international lounges was a genuine differentiator at launch — few cards offer it even today.
Entertainment & Lifestyle Benefits
- BookMyShow: Buy 1 Get 1 up to ₹500 off on movies, events, and activities at BookMyShow — up to 5 times per month.
- Dining: Complimentary Dineout Plus membership with a 20% discount at participating Dining Delights restaurants (savings up to 25% at five-star hotels).
- Concierge: 24×7 dedicated concierge for flight bookings, table reservations, gift deliveries, and similar requests.
Insurance & Wellness Benefits
- Purchase protection of ₹2 Lakh.
- Credit insurance coverage of ₹5 Lakh.
- Air accident insurance of ₹4.5 Crore.
- Complimentary services and discounts at select spa and salon partners, tailored preventive healthcare packages, and worldwide travel & medical assistance.
Other Benefits
- 2% forex markup — a meaningful reduction for international spenders.
- Lower APR of 2.5% per month (though revolving credit is never advisable).
- 1% fuel surcharge waiver.
Eligibility Criteria and Documents
- Age: primary cardholder 18–70 years; add-on cardholder over 18.
- Income: annual income of at least ₹18 Lakh (as per ITR).
- Residency: resident of India.
- Documents: PAN card or Form 60; proof of income (IT return, Form 16, or latest payslip); proof of residence (passport, driving licence, electricity or landline bill).
How to Apply for the Axis Magnus Credit Card
- Confirm you meet the eligibility criteria above.
- Gather the required documents.
- Apply online via the Axis Bank website (“Apply Now” on the Magnus page) or at your nearest Axis Bank branch.
- Axis Bank reviews the application and may request additional information.
- On approval, the card arrives by mail within a few weeks.
Axis Bank Magnus Credit Card Devaluation
Axis Bank devalued the Magnus Credit Card effective August 13, 2023, and the changes significantly reduced the card’s value proposition:
- The eDGE reward points earned per ₹100 were cut in half.
- The monthly cap on eDGE reward points was reduced from 50,000 to 25,000.
- The number of points required to redeem rewards increased.
The devaluation drew criticism from cardholders, who argue the new programme makes rewards considerably harder to earn and redeem. Axis Bank defended the move as necessary for sustainability. If you’re considering the Magnus today, factor these changes in — cards with more generous reward programmes may serve heavy reward-chasers better, while the travel benefits remain the card’s strongest suit.
Axis Bank Magnus Credit Card FAQs
What is the Magnus fee?
The joining and annual fee is ₹10,000 + GST each. The renewal fee is waived if you spent ₹15 Lakh or more in the previous year.
What is the minimum income for the Axis Magnus Credit Card?
An annual income of ₹18 Lakh or above, as per IT returns.
What is the airport lounge benefit on the Magnus card?
Priority Pass provides 8 complimentary international lounge visits (cardmember and guest), with 4 additional visits on spending ₹7 Lakh or more — plus unlimited domestic lounge access via the Mastercard lounge programme.
What is the Axis Magnus BookMyShow offer?
Buy one ticket and get up to ₹500 off the second on movies and live events booked via BookMyShow with the Magnus card, up to 5 times per month.
Verdict: Is the Axis Magnus Still Worth It?
Post-devaluation, the Magnus is no longer the runaway rewards machine it once was — the 1.2% base rate is mediocre for a ₹10,000-fee card. But for frequent travellers, the package of unlimited domestic lounges, Priority Pass with guest access, a complimentary flight ticket, 2% forex markup, and strong insurance cover still justifies the fee, especially if you can hit the ₹15 Lakh renewal waiver. Compare it against other top credit cards in India before you decide.
