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Features of Axis Bank Magnus Credit Card
- Reward Points Program (EDGE Rewards):
The Magnus Credit Card offers a robust rewards program that incentivizes high spending, particularly for frequent travelers and lifestyle enthusiasts.
Base Reward Rate: Earn 12 EDGE Reward Points for every ₹200 spent, applicable on cumulative monthly spends up to ₹1.5 lakh. This translates to a base reward rate of approximately 6% (assuming 1 EDGE Reward Point = ₹0.20 when redeemed for vouchers).
Accelerated Rewards for High Spenders: Earn 35 EDGE Reward Points per ₹200 on incremental spends above ₹1.5 lakh in a calendar month, significantly boosting the reward rate for high spenders. This can yield returns of around 5-12% when points are transferred to travel partners.
Travel EDGE Bonus: Earn 60 EDGE Reward Points per ₹200 spent on the Travel EDGE portal (Axis Bank’s travel booking platform), capped at ₹2 lakh per month. This offers a reward rate of up to 12% when redeemed as miles.
Exclusions: Certain categories like utilities, fuel, insurance, gold/jewelry, wallet transactions, government institutions, and rental spends do not earn rewards or count toward milestone thresholds, which can limit the card’s utility for some users.
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- Redemption Options: Points can be redeemed for vouchers, electronics, or travel bookings through the EDGE Rewards catalog. The most lucrative redemption is transferring points to 20+ airline and hotel partners (e.g., Qatar Airways, Air France, Accor, Turkish Airlines) at a 5:2 ratio (5 EDGE Points = 2 partner miles). For Burgundy account holders, the ratio improves to 5:4, doubling the value. Points are valid for 3 years from the date of accrual. Annual cap on point transfers: 5 lakh EDGE Reward Points per customer ID, with sub-caps of 1 lakh points for Group A partners and 4 lakh points for Group B partners.
- Travel Benefits: The Magnus Credit Card is renowned for its travel perks, making it a top choice for frequent flyers: Unlimited Airport Lounge Access: Domestic Lounges: Unlimited complimentary access to select domestic airport lounges for both primary and add-on cardholders, provided a minimum spend of ₹50,000 is met in the previous 3 months (waived for the first 3 months after card issuance). International Lounges: Unlimited complimentary access via Priority Pass for the primary cardholder, plus 4 additional guest visits per year (reduced from 8 as of April 2024). Guest access requires the primary cardholder’s presence. Low Forex Markup Fee: A 2% foreign currency markup fee (plus GST) applies to international transactions, which is competitive compared to other premium cards. This makes the card attractive for overseas spending. Welcome Travel Voucher: Upon card activation, choose a voucher worth ₹12,500 from options like Yatra (for flights), Luxe Gift Card, or Postcard Hotels. The voucher must be redeemed within 6 months of card activation, provided a transaction is made within 30 days. Discounts on Hotels: Up to 15% off at domestic and international Oberoi and Trident Hotels, enhancing the luxury travel experience. Discontinued Benefits: As of April 2024, benefits like 8 complimentary airport meet-and-greet services and BOGO movie ticket offers on BookMyShow have been discontinued, reducing some of the card’s appeal.
- Dining and Lifestyle Benefits: Dining Delights Program: Up to 40% off (capped at ₹1,000) at over 4,000 restaurants across India via the EazyDiner program. EazyDiner Prime Membership: Automatically granted around the cardholder’s birthday (linked to the registered mobile number), offering additional dining discounts Grab Deals: Accelerated rewards (up to 10,000 bonus EDGE Reward Points per month) on transactions via Grab Deals partners like Flipkart, Amazon, and instant vouchers, similar to HDFC’s SmartBuy.
- Health and Wellness Benefits: The Magnus Card stands out with unique medical benefits, uncommon among premium credit cards: Medical Concierge: Access to medical concierge services for appointments and healthcare coordination. Second Medical Opinion: Consultations with top specialists at leading medical institutions. Preventive Healthcare: Discounts on diagnostic packages from providers like Dr. PathLab and Metropolis. Global Travel and Medical Assistance: Support for international travel, including pre-trip information, visa assistance, interpreter referrals, telephonic medical advice, and help with lost documents or baggage.
- Insurance and Safety Features: Credit Shield: Coverage up to ₹5 lakh against card misuse or fraud. Purchase Protection: Coverage up to ₹2 lakh for damaged or stolen purchases made with the card. Lost Baggage/Delay: Insurance up to $500 for lost baggage or travel delays. Air Accident Cover: Coverage for accidental death or permanent disability during air travel (specific limits not detailed in sources).
- Financial Benefits: Low Interest Rate: A competitive 2.5% per month (approximately 30% annually) on extended credit, lower than many premium cards No Cash Withdrawal Fee: No fee for cash advances, though finance charges apply. This is a rare benefit among credit cards. Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹400 and ₹4,000, capped at ₹400 per month. Annual Fee Waiver: The ₹12,500 + GST annual fee is waived if you spend ₹25 lakh in the preceding card anniversary year. For customers onboarded before September 2023, the threshold is ₹15 lakh.
- Welcome and Joining Benefits: Joining Fee: ₹12,500 + GST, offset by a ₹12,500 voucher (Yatra, Luxe, or Postcard Hotels) upon card activation. Annual Benefit: Similar to the welcome benefit, cardholders receive a voucher worth up to ₹12,500 annually upon fee payment, making the effective cost of the card negligible for those who redeem the voucher.
- Metal Form Factor: The card is issued in a metal form factor on the Visa Infinite platform (previously Mastercard), offering a premium look and feel comparable to cards like HDFC Infinia. The etched digits ensure durability, and the design is a conversation starter.
- Concierge Services: 24/7 Concierge: Assistance with flight bookings, hotel reservations, dining, gift deliveries, and event planning. Contact the concierge at 8885545255. However, some users report inconsistent service quality, and concierge benefits were scaled back as of April 2024
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- Dining Discounts: Up to 40% off (₹1,000 cap) at 4,000+ restaurants via EazyDiner, plus complimentary EazyDiner Prime membership.
- Unique Health Benefits: Medical concierge, second opinions, preventive healthcare discounts, and global medical assistance.
- Comprehensive Insurance: ₹5 lakh credit shield, ₹2 lakh purchase protection, $500 for lost baggage/delay.
- Financial Advantages: No cash withdrawal fee, 1% fuel surcharge waiver (₹400 cap), 2.5% monthly interest rate.
- Premium Design: Metal card form factor on Visa Infinite platform for a luxurious look and feel.
- Concierge Services: 24/7 assistance for travel, dining, and lifestyle needs (contact: 1800 103 4962).
- Hotel Discounts: Up to 15% off at Oberoi and Trident Hotels (domestic and international).
- Global Travel Assistance: Pre-trip information, visa assistance, interpreter referrals, and support for lost documents.
- Grab Deals: Earn up to 10,000 bonus EDGE Reward Points monthly on transactions via Grab Deals partners.
- Burgundy Variant Benefits: For Axis Bank Burgundy customers: 5:4 reward point transfer ratio (5 EDGE Points = 4 miles), higher returns.
- Metal Card Design: Issued in a metal form factor on the Visa Infinite platform (previously Mastercard), offering a luxurious look and feel with etched digits for durability.
Frequently Asked Questions (FAQs)
What is the Axis Bank Magnus Credit Card?
The Axis Bank Magnus Credit Card is a super-premium credit card designed for high-net-worth individuals, offering benefits like unlimited airport lounge access, high reward points, low forex markup fees, dining discounts, and unique medical perks. It is issued in a metal form factor on the Visa Infinite platform and caters to frequent travelers and lifestyle enthusiasts.
What is the difference between the Magnus and Magnus for Burgundy Credit Card?
Magnus Credit Card:
Annual fee: ₹12,500 + GST (waived on ₹25 lakh annual spend; ₹15 lakh for pre-September 2023 cardholders).
Welcome/annual voucher: ₹12,500 (Yatra, Luxe, or Postcard Hotels).
Reward point transfer ratio: 5:2 (5 EDGE Points = 2 partner miles).
Magnus for Burgundy Credit Card:
For Axis Bank Burgundy customers (₹30 lakh NRV or ₹10 lakh AMB).
Annual fee: ₹30,000 + GST (waived on ₹30 lakh annual spend).
Welcome voucher: ₹5,000.
Reward point transfer ratio: 5:4 (up to 14% return on high spends).
Both variants share the same earn rates (12/35/60 EDGE Points per ₹200) and lounge access benefits.
Annual fee: ₹12,500 + GST (waived on ₹25 lakh annual spend; ₹15 lakh for pre-September 2023 cardholders).
Welcome/annual voucher: ₹12,500 (Yatra, Luxe, or Postcard Hotels).
Reward point transfer ratio: 5:2 (5 EDGE Points = 2 partner miles).
Magnus for Burgundy Credit Card:
For Axis Bank Burgundy customers (₹30 lakh NRV or ₹10 lakh AMB).
Annual fee: ₹30,000 + GST (waived on ₹30 lakh annual spend).
Welcome voucher: ₹5,000.
Reward point transfer ratio: 5:4 (up to 14% return on high spends).
Both variants share the same earn rates (12/35/60 EDGE Points per ₹200) and lounge access benefits.
What are the annual and joining fees for the Magnus Credit Card?
Joining Fee: ₹12,500 + GST, offset by a welcome voucher worth ₹12,500 upon activation and first transaction within 30 days.
Annual Fee: ₹12,500 + GST, waived on ₹25 lakh annual spend in the preceding year (₹15 lakh for cardholders before Sep 2023).
All fees are subject to 18% GST.
Annual Fee: ₹12,500 + GST, waived on ₹25 lakh annual spend in the preceding year (₹15 lakh for cardholders before Sep 2023).
All fees are subject to 18% GST.
Who is eligible for the Axis Bank Magnus Credit Card?
Age: 18-70 years (primary), 18+ (add-on).
Income: ₹18-24 lakh/year or ITR reflecting the same.
Residency: Indian resident.
CIBIL: 750+ with clean history.
Existing cardholders with ₹4-5 lakh Axis Bank card limit may qualify for upgrade.
Burgundy: ₹30 lakh NRV or ₹10 lakh AMB for Magnus for Burgundy variant.
Income: ₹18-24 lakh/year or ITR reflecting the same.
Residency: Indian resident.
CIBIL: 750+ with clean history.
Existing cardholders with ₹4-5 lakh Axis Bank card limit may qualify for upgrade.
Burgundy: ₹30 lakh NRV or ₹10 lakh AMB for Magnus for Burgundy variant.
What documents are required to apply?
Identity Proof: PAN (mandatory), Aadhaar, Passport, Voter ID, or DL.
Income Proof:
- Salaried: Latest payslips, Form 16, or ITR (₹18-24 lakh).
- Self-employed: ITR, audited financials, or GST filings.
Address Proof: Aadhaar, Passport, DL, utility bill (last 3 months), or bank statement.
Photograph: Recent passport photo.
Existing card details (for upgrade) and Burgundy eligibility proof if applicable.
All documents must be valid and self-attested.
Income Proof:
- Salaried: Latest payslips, Form 16, or ITR (₹18-24 lakh).
- Self-employed: ITR, audited financials, or GST filings.
Address Proof: Aadhaar, Passport, DL, utility bill (last 3 months), or bank statement.
Photograph: Recent passport photo.
Existing card details (for upgrade) and Burgundy eligibility proof if applicable.
All documents must be valid and self-attested.
How can I apply for the Magnus Credit Card?
Online: Visit Axis Bank site, fill the Magnus application, upload documents, and submit. Also available on Axis app and third-party portals.
Offline: Visit a branch with documents for submission and verification.
Via RM: Burgundy customers can apply via their relationship manager.
Upgrade: Existing cardholders with ₹4-5 lakh limit can request an upgrade via customer care or branch.
Approval: 7-10 days (online), 7-14 days (offline).
Offline: Visit a branch with documents for submission and verification.
Via RM: Burgundy customers can apply via their relationship manager.
Upgrade: Existing cardholders with ₹4-5 lakh limit can request an upgrade via customer care or branch.
Approval: 7-10 days (online), 7-14 days (offline).
Why might my application be rejected?
Common reasons include:
- Income below ₹18-24 lakh
- Low CIBIL (<700)
- Missing/incomplete documents
- High debt-to-income ratio
- Too many recent credit applications
Tip: Improve credit profile and reapply in 3-6 months.
- Income below ₹18-24 lakh
- Low CIBIL (<700)
- Missing/incomplete documents
- High debt-to-income ratio
- Too many recent credit applications
Tip: Improve credit profile and reapply in 3-6 months.
What are the key benefits of the Magnus Credit Card?
Rewards: 12/35/60 EDGE Points per ₹200 based on spending slab or portal used.
Travel: Unlimited lounge access (conditions apply), ₹12,500 voucher, low forex markup (2%).
Dining: 40% off at 4,000+ restaurants, EazyDiner Prime membership.
Medical: Concierge, second opinions, global medical help.
Insurance: ₹5 lakh credit shield, purchase protection, $500 travel mishaps.
Other: No cash withdrawal fee, 1% fuel surcharge waiver, 2.5% monthly interest.
Travel: Unlimited lounge access (conditions apply), ₹12,500 voucher, low forex markup (2%).
Dining: 40% off at 4,000+ restaurants, EazyDiner Prime membership.
Medical: Concierge, second opinions, global medical help.
Insurance: ₹5 lakh credit shield, purchase protection, $500 travel mishaps.
Other: No cash withdrawal fee, 1% fuel surcharge waiver, 2.5% monthly interest.
How do I earn and redeem EDGE Reward Points?
Earning:
- 12 EDGE Points/₹200 (up to ₹1.5L/month).
- 35 EDGE Points/₹200 (above ₹1.5L).
- 60 EDGE Points/₹200 via Travel EDGE (₹2L cap).
Exclusions: Utilities, fuel, insurance, rent, wallets, govt. payments.
Redemption: Use EDGE catalog or transfer to airline/hotel partners (5:2 or 5:4 for Burgundy).
Points validity: 3 years; transfer cap: 5 lakh (1 lakh for Group A).
- 12 EDGE Points/₹200 (up to ₹1.5L/month).
- 35 EDGE Points/₹200 (above ₹1.5L).
- 60 EDGE Points/₹200 via Travel EDGE (₹2L cap).
Exclusions: Utilities, fuel, insurance, rent, wallets, govt. payments.
Redemption: Use EDGE catalog or transfer to airline/hotel partners (5:2 or 5:4 for Burgundy).
Points validity: 3 years; transfer cap: 5 lakh (1 lakh for Group A).
What are the lounge access benefits?
Domestic: Unlimited for primary and add-on cardholders at select lounges.
International: Unlimited via Priority Pass (primary only) + 4 guest visits/year (guest access only with primary cardholder).
Condition: ₹50,000+ spend in the previous 3 months (waived for first 3 months).
Note: Guest visits reduced from 8 to 4 from April 2024.
International: Unlimited via Priority Pass (primary only) + 4 guest visits/year (guest access only with primary cardholder).
Condition: ₹50,000+ spend in the previous 3 months (waived for first 3 months).
Note: Guest visits reduced from 8 to 4 from April 2024.
List of Axis Bank Magnus Credit Card Branches in Telangana
- Armoor
- Bhadrachalam
- Bhongir
- Bodhan
- Gadwal
- Jagtial
- Jammikunta
- Kamareddy
- Karimnagar
- Khammam
- Kodad
- Kothagudem
- Mahabubabad
- Mancherial
- Medak
- Miryalaguda
- Nalgonda
- Nirmal
- Nizamabad
- Ramagundam