The Axis Bank Magnus Credit Card is tailored for individuals who value luxury, exclusive experiences, and premium travel perks. Designed with high spenders in mind, this card offers substantial benefits in rewards, travel, and lifestyle services.
Key Features
- Annual Charges:
The card carries an annual fee of ₹12,500 plus GST. However, if your yearly spending crosses ₹25 lakh, this fee is waived off. - Welcome Gift:
As a welcome gift, you receive vouchers worth ₹12,500 from top luxury brands or travel partners like Luxe, Yatra, or PostCard Hotels when you activate the card. - Reward Points:
- Earn 12 EDGE Reward Points for every ₹200 spent, applicable up to ₹1.5 lakh in monthly spending.
- For spends beyond ₹1.5 lakh per month, you get a boosted rate of 35 EDGE Reward Points per ₹200.
- Enjoy 5X reward points on bookings made through Axis Bank’s Travel EDGE platform.
- Points can be converted to air miles with over 20 global travel partners (5:2 ratio).
- Airport Lounge Access:
- Unlimited visits to domestic lounges for the primary cardholder.
- International lounge access is available via Priority Pass for both primary and add-on users.
- Includes 4 complimentary guest visits per year.
- Dining and Lifestyle Benefits:
- Save up to 30% when dining at a curated list of partner restaurants.
- Access premium offers on wellness services and luxury stays.
- Exclusions in Fee Waiver Spend Criteria:
Spending on rent, insurance, fuel, wallet top-ups, gold/jewelry, utilities, and government-related payments does not count toward the fee waiver threshold.
Special Variant: Magnus Credit Card for Burgundy
If you’re a Burgundy customer, there’s an upgraded version of the card with enhanced rewards:
- Fee: ₹30,000 + GST annually (waived on spends above ₹30 lakh).
- Welcome Bonus: ₹5,000 voucher from your choice of premium partners.
- Rewards Upgrade:
- Get a better reward conversion ratio (5:4) when transferring to airline or hotel partners.
- You can transfer up to 10 lakh reward points annually to partners.
Eligibility Requirements
- Age: Must be between 18 and 70 years.
- Income: Requires a minimum annual income of ₹24 lakh.
Pros and Cons
Advantages:
- Higher reward rates for big spenders.
- Excellent value on travel through lounge access and partner redemptions.
- Great welcome benefits that match the joining fee.
- Strong point transfer options for frequent fliers.
Limitations:
- High annual fee only makes sense if you spend significantly.
- Certain types of transactions don’t help in achieving the fee waiver.
- Some previous benefits like concierge services and entertainment offers have been discontinued.
