Axis Bank Launches Magnus Credit Card for its affluent customers

By | September 18, 2019

Axis Bank after launching Flipkart Credit Card which is one of the best credit cards for beginners, now the focus has moved to the top end customers. Not to mention, Axis Bank already has an invite-only credit card named Axis Reserve at Rs.30K joining fee. 

While Axis Bank has been successfully serving the top end segment with its highly rewarding Vistara Infinite Credit card, not all customers fly Vistara due to its limited network. So here comes a new attempt by Axis Bank to capture the super premium credit card segment with its newly launched Axis Bank Magnus Credit Card that works on the Mastercard network.

Features Overview

  • Rewards Earn Rate: 1.2% (Regular)- 2.4%(Yatra, goibibo, etc)g
  • Airport Meet & Assist: 8 Complimentary Airport Meet & Greet Services
  • Domestic Airport Lounge Access: Unlimited via Mastercard (primary & supplementary cards)
  • International Airport Lounge Access: 8 per annum via Priority Pass (default) + 4 more visits (on 7L spend). This limit can be used to set off GUEST access too, which is new in India. 
  • Movie benefit: Bookmyshow Buy1 Get1 Offer upto Rs.500 per ticket, both movie & non-movie tickets like events, activities, etc. Upto 5 times in a month
  • Dining Benefit: DINEOUT PLUS MEMBERSHIP (save 25% on 5 star dining)
  • Hotel Benefit: Oberoi Offer @ 15% Off on BAR + Complimentary Upgrade
  • Wellness Benefit:
  • Concierge Services: 24/7 concierge for travel/dining/gifting/shopping/events
  • Markup Fee: 2%+GST on foreign currency
  • Credit Shield: 5 Lakhs

That’s a good set of benefit covering all aspects of one’s lifestyle: Travel, Dining, Entertainment, Hotel & Wellness. And the 8 Airport Meet & Greet benefit is amazing which is over & beyond Citi Prestige which only gives you 2 meet & greet service.

Fees & Charges

  • Joining Fee: Rs.10,000+GST
  • Welcome Benefit: One-way Flight Ticket (upto Rs.10,000)
  • Renewal Fee: Rs.10,000+GST (Waived on 15L Spend)
  • Eligibility: ITR 18L & above

You shall apply using the apply now form on the website. Note that if you already have an axis bank credit card, you shall apply for this card separately even without upgrading/downgrading the existing card as Axis bank allows you to hold multiple credits cards at once. 

Final Thoughts

Overall it’s an amazing card with vertical, clutter free design on the front & worthy rewards for the price it demands. 

The USP of the card is its Airport Meet & Greet Services which could save you few hours, esp. in bigger airports, highly beneficial if you don’t fly business class. Other than that, Unlimited domestic lounge access & the ability to use international lounge access for guests is first of its kind in India with Priority Pass. If you are a family traveller, you gonna love this benefit.

Overall its a very good attempt by Axis bank and I’m sure the Bank’s top end customers would be very happy with this offering. But if you’ve other cards and just looking at higher reward rate, it may disappoint you, as Magnus is designed to give more experience, over just high reward rate. 

With the launch of Magnus Card, Axis Bank’s portfolio just got stronger and is in a very good position to compete with the top players in the industry.

Would you get the Axis Bank Magnus Credit Card? Feel free to share your thoughts in the comments below. A detailed review of the same should come very soon as well. 

51 thoughts on “Axis Bank Launches Magnus Credit Card for its affluent customers

      1. Vineet

        Priority pass( with guest access) and meet and greet (8 is heaven sent) are amazing features.

        Reply
      2. SG

        What is part of meet n greet? Pickup/drop or just guiding me through the airport? Is there only some airports this is offered?

        Reply
        1. Siddharth Post author

          Almost all major Indian airports are covered.
          Meet & Greet usually refers to an airport guide + fast track check-in, immigration etc.

          Ideally you get business class travel experience on the ground.

          Reply
  1. Sree

    Some of the best features which would suit most of us in this forum. And well articulated as always Sid! This card has good potential.

    Reply
    1. Manveet

      Interesting proposition but low reward rate. Useful if you need meet and greet services. As always wonderful presentation by Sidhharth.

      Reply
  2. Vineet

    I have a priority account with axis. My ITR this year was slightly short of the 18 lakhs requirement. However next year it will easily cross that. Do I have a chance if I apply through the website. My RM happens to be pretty useless

    Reply
    1. Siddharth Post author

      You should be able to get it with slight variation. Try online, if not send application through RM as branch applications are generally considered as a good sourcing medium.

      Reply
      1. Mohit

        How does Meet & Greet work when travelling with family. If I am travelling with two kids & spouse, will joint escort be counted as One meet & greet service or four ?

        Reply
        1. Siddharth Post author

          Four, as per rules. You can “try” with one booking if you travel with spouse. But with 2 kids, it might be tough.

          Reply
  3. Ankit Tanna

    Through which company do they arrange the M&G? Any idea which airports are serviced? Is it also for the add on users?

    Reply
    1. Siddharth Post author

      Dreamfolks. 29 locations in India is what they say.

      Those links are down on Axis site. I think site should be fully functional by tomorrow.

      Reply
  4. valliappan

    Worth the wait! The domestic flight ticket every year sets of the annual or renewal fee, and the lounge benefits are excellent for travelers who does couple of trips with family. Basic reward rate is low but the bms, travel benefits compensates it. so all in all a complete solution comparing with amex platinum travel as there you need to get travel vouchers, Taj vouchers to reap maximum returns.

    Reply
    1. MURALIMR

      Is domestic flight ticket (upto 10K) option available every year or only for 1st year as part of welcome benefit ?
      It is not clear from T&C

      Reply
  5. Prannoy Ghosh

    I still feel that Amex Platinum is better at 4Lacs n DCB n Infinia are unparalleled……

    Scb Ultimate was good till it lasted, and the reward redemption is such a pain that people don’t even spend on it fearing redemption. The fact that fees can’t be waived and redemption is such a problem as flight or Amazon vouchers are never available, it’s become a burden rather than a backup.

    SBI prime was recently devalued and stripped of its King of Utility Bills.

    People already owning a DCB or Infinia won’t bother with Axis Magnus due to it’s low reward rate as Amex Platinum is a better option than this. Heck even Amex Mrcc gives more value than this – for spends upto 1.5 lacs

    Reply
  6. Ajai

    I have their SELECT and Vistara Infinite CC’s and spent enough on SELECT to get that marriot vouchers for next year and extra PP access on top of that I get golf access. I am currently spending on Vistara Infinite but it has low low low limit of 4lac “Same as my SELECT”. This is certainly not the way to go with so called premium cards.

    Its hard to split the payments again and again. Approached the BM and even submitted my ITR >20Lac “Previous year loss adjusted” and income documents >35lac but they say this 4lac limit is enough for your ITR. Me being a BURGUNDY customer have this low a credit limit I am sure others will have problems with them also.

    Have applied for a AMEX lets see if they will give a proper limit till then Regalia I am yours.

    Reply
  7. Wanderlust

    Not excited. Only 2.4% that too accelarated. Base reward of 1.2% is lower than most basic cards. Unless one is travelling abroad frequently, the meet and greet feature doesn’t matter much as mostly I spend time at lounges. Also many cards today are providing unlimited domestic lounge access. The only redeeming feature is the guest access on international lounges. Since I have yes exxlusive, even that side is covered.

    Reply
  8. Saksham Dhawan

    Hey sid,

    Could you please write an article on how “do anything” concierge services work across multiple cards (speically super preimum ones) ? What are the kinds of tasks they can do ? Do you pay extra per task or just for the service provided ?

    I haven’t found a lot of information on this.

    Reply
    1. Ankit Tanna

      There’s only one “Do Anything” concierge in India and that’s the American Express platinum/centurion. They do pretty much everything you’d want them to.

      Most of the other CC concierge I’ve encountered (HDFC, SBI, YES), their forte is booking seats at restaurants, sending flowers. Not that great to be honest. Although I will say HDFC DCB concierge was exceptionally amazing till about 4 years ago when they were Delhi based. Now they won’t even suggest restaurants. And this is the Infinia concierge I’m talking about.

      Reply
      1. saksham dhawan

        Could you share an exmaple of a task you got fulfilled from American Express platinum/centurion ?

        Reply
  9. Prashant Tewari

    The only standout feature which I believe is “8 Complimentary Airport Meet & Greet Services”. However if it is only limited to India then not a great value but if it cover ASPAC region like CITI Prestige then it is a worthy card. Just a wishful thinking but if somehow this service extends worldwide then it becomes a no-brainer just because of this single feature.

    CITI also kind of gives you a free hand when it comes to lounge access with its unlimited domestic and international access even to the addon cardholder (upto 5 add-on, AFAIK). In a nutshell this card is Jack of few trades, Master of none.

    Reply
  10. Rushabh

    I have DCB and SC Ultimate. Do you think this card is worth if I want to use it just for Bookmyshow offer and aiport meet and greet? Other than that, my other cards seem to he sufficient.

    Reply
  11. Jitender Kumar

    Is it possible for NRE account holder (non axis bank) to get this card ? or there is an diffrent critiria for NRE customers ?

    Reply
    1. Ankit Tanna

      Probably have to make a high value FD (at least in the range of 10 lakhs) considering this is Axis bank’s “Infinia competitor”.

      Reply
  12. Amit G

    “Axis bank allows you to hold multiple credits cards at once.” Sid, do they allow multiple cards under shared limit or these are separate accounts (shows two different entry in CIBIL).

    Reply
      1. Kishore

        I have vistara platinum..if i apply another card..will the bank Check my CIBIL again..?

        Reply
      2. Ajai

        They are separate but equal both my SELECT and Vistara Infinite have 4lac limit each.

        Reply
      3. Himanshu Kainth

        SID,

        They were doing it earlier but now Axis is mapping highest credit limit to the account. I don’t have any axis card. Few of my friends have experienced this. So yeah!!

        Reply
  13. Anonymous

    The airport meet and greet is too hyped up. If you’re talking about fast tracked check-in, Vistara Infinite already gives it on their Gold/Plat counters. And do you really need a guide to show you your gate? If you were talking about tarmac service like United 1K or Global Services, then it makes sense. Most international lounges anyway lets you swipe twice for another guest. Other than the vertical design, I really don’t see this card moving any scales. Great article though.

    Reply
  14. sagar chatterjee

    If you have a Citi Prestige, Diners Black and Amex Plat in your wallet then you dont need this card. In fact you would get less value for money.

    Reply
  15. Royceton

    Just needed to check a couple of things

    1) is the supplementary card free and does it have unlimited domestic lounge access too
    2) if I am travelling with my spouse and 2 parents end of this year to Canada could I use the priority pass for all 4.
    3) if I am travelling as point 2 above would meet and gree include all 4 of us?

    Reply
    1. Siddharth Post author

      1. Yes
      2. Yes. But not usable in Indian airport lounges though.
      3. Yes

      Looks like you’re the kind of the customer the bank actually targets.

      Reply
  16. A2Z

    @Himanshu
    My Axis cards carry different limit on each card
    Indeed they offered different limit enhancements for 2 of those

    Reply
  17. The Outrigger

    This or SBI Elite as a backup for Infinia? I want it mainly just for the lower 2% forex markup.

    Reply
    1. Neo

      Why not the YFP or the SC Ultimate ? This card doesnt work for me at all. Apart from the M&G ( which at dom airports) isnt much value, Magnus doesnt strike a chord.

      Reply
    2. Shivi

      Neither of those; YFE is any day a better deal for lower fx markup. While Infinia actually gives you a positive return of (+) 1.97% of the total sale value @ International transactions, the amount you spend with YFE on Fx is (-) 0.565%. This calculation takes into account the Reward programme on the cards. Then there is that IndusInd credit card too which I have not included because of its high joining fee.

      SBI Elite has negative value of 1.84% while this Axis Magnus has negative value of 1.16%.

      Reply
  18. Prashant Gupta

    I dont think the reward for joining and renewal is worth as you are only getting one way domestic ticket which will always be less than 10K

    “Customer is eligible for 1 complimentary one – way domestic flight in economy class, upon payment of joining
    fee/ annual fee.”

    Reply
  19. Saroj

    One more feature of this Card :- One domestic Air Ticket
    of any destination free every year

    Reply
  20. P NAGESWARA RAO

    Sir,

    I am having AXIS Bank Savings Account since last two years. I am interested to take AXIS MAGNA CREDIT CARD RECENTLY launched by the bank. I am working as A.O. in Insurance Co. and my Gross Annual Income is Rs.11,75,000/- and my Net Salary is Rs.47,500/-.
    I am eligible for AXIS MAGNA CREDIT CARD or any other similar Card is there for my Salary.
    Please send answer to my mailing address mentioned below.
    Kindly give advise for the above.
    With Regards,

    P NAGESWARA RAO

    Reply
  21. Amex Guy

    This is the Diwali firecracker which never really takes of. Now you’re wondering whether to get near it or not.

    I mean, if a card makes an ICICI card look good..

    Reply

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