Axis Bank has many wonderful credit cards in their portfolio and Magnus is one of the best rewarding credit card without a doubt. Axis Magnus Credit Card is the hot pick of the year 2022 & 2023 for a super premium credit card holder with good spends.
While it has been devalued from Sep 2023 it’s still a worthy card to hold for some. Here’s everything you need to know about this most popular Credit Card in India at the moment.
Table of Contents
|Type||Super Premium Credit Card|
|Reward Rate||1.2% to 12%|
|Best for||Axis Burgundy Customers|
|USP||Airport meet & greet services|
Axis Magnus used to be not only the best credit card in India but in the world because of it’s monthly milestone benefit which has been recently revoked.
Yet, with 5:4 transfer ratio for Axis Burgundy account holders (10L balance a/c), it’s still worth holding any day.
|Joining Fee||10,000 INR+GST|
|Welcome Benefit||10,000 INR Flight ticket|
|Renewal Fee||10,000 INR+GST|
|Renewal Fee waiver||On spending >25 lakhs|
Note that TataCliq voucher as joining benefit maybe discontinued anytime.
Otherwise, if you choose one-way economy flight ticket as welcome benefit, the price will be capped to Rs.10,000.
Once you do your first txn you’ll get a link on SMS, accessing which you can redeem the desired welcome benefit in a matter of few clicks. If not received, call Axis Concierge (18001034962) post generation of 2 statements.
The Axis Bank Magnus Credit Card now comes in a metal form factor on Visa Infinite platform. The card looks definitely premium even without the metal form factor.
Anyway you can’t differentiate metal Magnus from a non-metal Magnus that easily. So if you’re holding the previously issued plastic card under Mastercard platform, there is nothing to worry.
|SPEND TYPE||REWARDS||REWARD RATE|
(Edge Rewards Portal)
|Regular Spend||12 RP / 200 INR||1.2%||2.4% – 4.8%|
|Axis Travel Edge Portal (5X)||60 RP / 200 INR||6%||12% – 24%|
The regular reward rate on edge rewards is indeed not exciting on Magnus if you’re not into points transfer. However, with 2X promo & 3X promo which comes once in a while, one can get massive savings.
Ideally, converting your points to the newly introduced Points transfer partners should be the only way you should redeem Axis Rewards as otherwise it’s like throwing away 75% of the point value for nothing.
Because what this does is that it increases the “point value” from the usual 20ps (Edge rewards portal redemptions) to ~40ps (Marriott) or even ~80ps (ITC & many more) if you explore airline partners.
- On Spends of >1.5L a month: Get 35 points / 200 INR (~14%)
Effective 1st Sep 2023, we’ll be getting accelerated rewards as shown above. Which means, Magnus is a must have card for high spenders as it’s reward rate beats any card in any bank when “monthly” spends go up.
Here’s a quick look as to how the reward rate gets affected on monthly spend. As you can see, >3L spend a month looks quite lucrative.
TravelEdge Transfer Ratio
Effective 1st Sep 2023, the transfer ratio of the points accumulated on Axis Bank Magnus Credit Card would be 5:2 by default.
However, customers holding Axis Burgundy Savings Account (10L Balance) can enjoy a better transfer ratio of 5:4 as long as the customer remains as a pure burgundy customer with the required AQB/AMB on the linked Burgundy Savings account.
The status of the account might be periodically checked using the AQB/AMB for Magnus to be eligible for the superior transfer ratio.
This privilege for burgundy customers is temporary and might be revoked anytime.
Caution: This benefit to be discontinued from 1st Sep 2023.
- Rewards: 25,000 points on 1L spend (per calendar month)
- Fulfilment: 90 days from end of txn month
Monthly milestone benefit is the newly added feature from Feb 2022 and this is the reason why it makes sense for high spenders to get Magnus Credit Card.
This is because no card gives 6.2% value just like that with easy redemption options. And if you decide to play with points transfer partners, that’s easily ~24% savings.
While it’s a great benefit, the fulfilment period is bit longer which may bother some short term points players.
25K reward points can get you 2 nights at Marriott hotels through points transfer.
Note: Milestone benefit is now applicable from the joining month itself.
For those who’re wondering how long they take to credit the milestone rewards, here’s a quick look into the past:
- 25 March 2023 for Dec 2022
- 15 Feb 2023 for Nov 2022
- 07 Jan 2023 for Oct 2022
- 09 Dec 2022 for Sep 2022
- 16 Nov 2022 for Aug 2022
- 22 Oct 2022 for July 2022
- 26 Sep 2022 for June 2022
- 10 Aug 2022 for May 2022
- 08 July 2022 for April 2022
- 02 June 2022 for March 2022
Airport Lounge Access
|Access type||Via||Limit||Guest Access|
|Domestic Lounge Access||Visa / Mastercard||Unlimited||–|
|International Lounge Access (Primary)||Priority Pass||Unlimited||8|
Guest access on Priority Pass (for International lounge access) is a good one to have and it is limited to 8 access per “card anniversary year”. That’s sufficient to cover the access for your family.
Wish they had given the complimentary guest access for domestic as well, as Axis has technical challenges in issuing Add-on cards as of now.
But as long as you are able to get add-on cards (hit or miss as of now), it comes with unlimited domestic lounge access as well.
Airport Meet & Greet
- Complimentary Access: 8 / year
The airport meet & greet service – which Axis Bank calls as “airport concierge” service is the USP of this product. It gives VIP Assistance Services for a smooth and hassle-free airport transfers.
The services include assistance across airport processes, such as: express check-in, fast-track security check, immigration assistance, porter & buggy services.
I’ve used this service at MAA/BOM/HYD airports both for arrival & departure and its quite useful. Here’s a detailed article on the airport meet & greet services available at Indian airports.
- Complimentary Courses/Lessons: Nil
Unlike most other premium and super premium credit cards, Axis Magnus doesn’t have the complimentary Golf benefit.
This is because they basically replaced the Golf benefit with Airport Meet & Greet services to reduce their costs, which definitely makes sense.
However, if you’re holding the Mastercard variant, you’re eligible for the Mastercard World Golf benefit that gives 1 complimentary lesson a month and 4 games max per year.
Getting add-on cards with any Axis Bank credit card is tricky as of now but is getting better. It can’t be applied independently either unless there are additional approvals.
However, it can still be applied while applying for the primary card but it may or may not get processed as expected.
I wouldn’t suggest taking add-on cards if you’re looking for peace of mind. Because even if you get it, you need to call support every-time to change pin, etc, as add-on cards can’t be accessed online.
Hope Axis Bank fixes this Add-on cards issue soon.
- Offer: Buy one Get one
- Valid on: movie/non-movie bookings
- Max. Cap: Rs. 500 off on the second ticket
- Monthly limit: 5 bookings per month
Boomyshow offer is pretty good indeed and if you’re in metro cities where the ticket cost is easily 500 INR, then this is a very good benefit. Else, Visa Infinite offer is sufficient for most.
That said, Visa offers may get maxed out pretty fast compared to the direct BMS offer on Magnus, so the separate Magnus offer still makes sense.
Forex Markup Fee
- Foreign Currency Markup Fee: 2%+GST = 2.4%
- Burgundy Customers: Rewards – Markup Fee = 4.8% – 2.4% = ~2.4%
- Non-Burgundy Customers: Rewards – Markup Fee = 2.4% – 2.4% = 0%
If you’re a non-burgundy customer & redeem points to transfer partners, you’ll ideally end up at no-profit / no-loss.
If you’re a burgundy customer & redeem points to transfer partners, you’ll gain about 2.4% which is good.
But if you spend >1.5L in a month, you will anyway enjoy a lot higher reward rate because of the accelerated rewards.
Maximizing Axis Cards
The Year 2023 is an amazing year to explore Axis Bank Credit Cards. However, there are various issues with the bank, from application, credit limit to service and support.
If you’re facing various issues (or) if you prefer to have a smooth ride into a rewarding year with the lucrative Axis Bank credit cards, do check out this beginners guide to Axis Bank Credit Cards: Maximizing Axis Bank Credit Cards.
How to Apply?
You may apply online on Axis website in a matter of few steps. Axis Bank is recently known for processing fresh credit card applications pretty fast.
You may get the card approved usually within a week from the date of application. If you’re new to bank, not to worry, you don’t need to create Axis Savings A/c to have an Axis Bank Credit Card.
- Cardexpert Rating: 4.8/5
Axis Bank Magnus Credit Card is one of the amazing credit cards that Axis Bank has ever created. It’s a must have card for those who’re spending >1.5L a month, as it’s the highest rewarding credit card in India at that spend level with easy redemption options.
With unlimited lounge access, accelerated rewards and airport meet & greet service, Axis Magnus is worth having in the wallet in 2023 and beyond.
The only downside is the service and support, which I hope will get better when the Citi merger goes live.
Do you hold Axis Magnus Credit Card? Feel free to share your experiences in the comments below.