Axis Bank has been making some good moves in the credit card space. In the entry-level segment, we have two great cashback credit cards Flipkart Axis and Ace. And in the premium segment, we have Magnus and Reserve which offer good travel and lifestyle benefits. But, till now both Magnus and Reserve did not have the great rewards that the competition offers. This has changed now for Magnus. Axis Bank recently added some benefits like milestone bonus and miles transfer to the Magnus which make it a compelling offering. I recently got the Axis Magnus and have been using it for some time. Here is my hands-on review of the Axis Bank Magnus credit card.
For fresh applications, the required salary or ITR is Rs 18 LPA. If you already have an existing Axis Bank credit card, you can upgrade to Magnus provided the limit on your card is more than Rs 3 Lakhs.
You can also choose to apply on a C2C (Card to Card) basis with another bank’s credit card having a credit limit of more than Rs 3 Lakhs. C2C applications can only be done offline.
Fees and Charges
|Joining and Annual Fee||Rs 10000 plus taxes ~Rs 11800|
|Welcome and Renewal Benefit||Complimentary Economy Domestic Flight Ticket|
Rs 10000 Tata CLiQ voucher
|Annual Fee Waiver||Rs 15 Lakhs spend|
I prefer the Tata CLiQ voucher as the welcome reward over the economy domestic ticket. The economy ticket also comes with a few restrictions like it cannot be modified once booked. Travel plans aren’t always set in stone. But, Axis Bank seems to think so.
- All Spends (Except Wallet, Jewellery, and Fuel): 12 EDGE RP/Rs 200 ~1.2% Return
- Travel Edge: 60 EDGE RP/Rs 200 ~6% Return
- Milestone Benefit: 25000 EDGE RP on spending Rs 1 Lakh in a month ~5% Return
- Each EDGE Reward is worth 20 paise
The rewards for spending Rs 1 Lakh in a month come to 6.2% if we redeem vouchers! This is great for heavy spenders and not many premium cards come close to this. But, there is a better use for the reward points if you are into Airmiles and hotel loyalty programs. More on this in rewards redemption.
TRAVEL EDGE is Axis Bank’s version of HDFC Bank Smartbuy where we can book flights and hotels. Magnus gets 5X reward points for TRAVEL EDGE bookings. We also have Grab Deals for earning accelerated EDGE Rewards. Grab Deals is similar to HDFC Bank Smartbuy but comes with more merchants. We have Flipkart, Amazon, and Instant Vouchers where we can get higher rewards on transactions. Bonus EDGE reward points on Grab Deals are capped to 10000 points per month.
Milestone benefit is applicable only from the second calendar month after your card is issued. For example, if you get the card in June then you are eligible for the benefit for July spending. All spending except wallets is considered for milestone spending.
EDGE Rewards can be redeemed from the Axis Bank EDGE REWARDS portal. We have different options including products, gift vouchers, and Airmiles transfer as well. Both Amazon and Flipkart gift vouchers are available. In all cases, the value for each EDGE reward is 20 paise.
- Amazon or Flipkart Gift Vouchers: 1 EDGE RP = 20 paise
Transfer Axis Bank Magnus EDGE Rewards to Airlines/Hotel Partners
|Transfer Partner and|
EDGE Reward Points: Partner Points/Miles
Miles and Smiles
|IHG Hotels & Resorts|
IHG One Rewards
Unlimited Complimentary Airport Lounge Access
Axis Magnus cardholders get unlimited international lounge visits with Priority Pass. We also get 8 complimentary visits for guests. But the catch is there is no separate priority pass like Infinia. The guest access is valid only if the primary card member is accompanying them.
Unlimited domestic lounge access (only for primary cardholders) is also available. The access is directly on the Axis Magnus credit card on this list of lounges.
Airport Concierge Services
Axis Magnus also offers 8 complimentary VIP Assistance Services more commonly known as ‘Meet and Greet’. The services include assistance across airport processes, such as check-in, security check, immigration processes, and porter services.
Buy one and get one free up to Rs 500 for 5 times per month. If you are a movie lover, this is one offer that will excite you. 🙂
In this, we get a minimum of 15% off on partner restaurants when dining in. Refer to the official Axis Bank Dining Delights website for a list of restaurants and applicable offers.
Axis Bank Magnus vs HDFC Bank Diners Club Black and Infinia
For someone who is into transferring reward points to airlines and hotel loyalty programs, Axis Magnus is a far better deal than anything else right now. Here is a calculator that will help you decide which one offers better value for your spending.
Axis Magnus has been in the market for some time now. But, the recent changes that Axis made have made it a card worth applying for. The 6.2% return on Rs 1 Lakh spend is generous and the accompanying benefits are great as well. This is a worthy super premium credit card to try out!
Even if we use Magnus just for regular spending and spend more than Rs 1 Lakh in a month, it is a good option for Airmiles enthusiasts. The conversion rate from EDGE RP to partner air miles/points is lucrative. So, keep transferring those points at regular intervals before any devaluation happens.
- Monthly Spend: Rs 1 Lakh
- Regular EDGE Rewards: 12 RP/Rs 200 ~6000 EDGE Rewards
- Bonus EDGE Rewards: 25000 RP for Rs 1 Lakh spend
- Total EDGE Rewards: 31000 RP
- Earned Partner miles/points: 24800! a whopping 24.8% reward rate
Axis Bank Magnus Credit Card