Axis Bank Magnus Credit Card is a premium credit card designed to cater to the needs of high net worth individuals. With its travel edge reward benefits, this card is an excellent choice for frequent travelers and those who like to indulge in luxury experiences.
My Personal Experience
Axis Bank Magnus Credit Card offers a host of features and reward benefits that make it a valuable addition to my wallet.
The welcome bonus of a Tata Cliq voucher or domestic flight ticket worth Rs. 10,000 was a great way to start using the card.
With unlimited international and domestic lounge access, allowed me to enjoy premium experiences and relax in luxurious lounges while waiting for my flights.
Moreover, the milestone benefits have also been rewarding. I received 25,000 EDGE REWARDS Points worth Rs. 5,000 on monthly spends of Rs. 1 Lakh, which is quite generous.
Let’s discuss the detailed features and benefits of Axis Bank Magnus Credit Card.
Axis Bank Magnus Credit Card Features & Benefits
Fees and Charges
- Joining Fee: Rs. 10,000
- Annual Fee: Rs. 10,000
- Annual Fees Waiver: On spending greater than 15 lakhs in the preceding year
- Forex Markup Fees: 2%
You can also read about 11 different type of credit card fees & charges.
Feature & Benefits
- Tata Cliq voucher or a domestic flight ticket worth Rs. 10,000
- You will earn 12 Axis eDGE REWARDS Points on spending every Rs. 200.
- Minimum Reward Value: 1 Edge Reward = Re. 0.20 which is 1.2% reward rate.
- You will get 5X EDGE REWARDS (60 reward points) on every Rs. 200 spent on travel via TRAVEL EDGE which is 6% reward rate. A monthly cap of 10K points.
- Best Way to Get Reward Value: Axis EDGE REWARDS Points can be redeemed on the EDGE REWARDS portal at a value of 1 Edge Reward = Re. 0.20 or Transfer to Partner Airlines/Hotels Rewards Program.
- Buy one movie/non-movie ticket and get up to Rs. 500 off on the second.
- Enjoy up to 20% discount at over 4000 restaurants across India.
- Fuel surcharge waiver of 1% for transactions between Rs. 400 to Rs. 4000.
- 24×7 dedicated concierge service for assistance regarding flight or hotel reservations, gift deliveries.
- International Lounges: Unlimited access and 8 additional guest visits per year with the Priority Pass card.
- Domestic Lounges: Unlimited access.
- You can earn 25,000 EDGE Reward Points on monthly spends of Rs. 1 Lakh.
These reward points have a redemption value of Rs. 5,000 which is 5% reward rate. Each EDGE Reward Point is valued at Re. 0.20, making it an attractive offer for those who use their credit cards frequently for various transactions.
However, as per the terms and conditions, you will not receive the milestone bonus in the month you joined.
Suppose your credit card was approved in January 2023 and you spend 1 Lakh rupees in February 2023, you will receive the 25,000 bonus points.
On the other hand, if your card was approved in February 2023 and you spend 1 Lakh rupees in February 2023, you will not receive the 25,000 bonus points. In such a case, you can enjoy the milestone bonus from March 2023.
You can redeem the Axis EDGE Reward Points from the Axis EDGE REWARDS redemption portal for instant vouchers, gifts, gadgets, fashion accessories, shopping vouchers, and more. Each 1 Edge Reward is Re. 0.20.
You can also transfer EDGE Reward Points to Partner Airlines/Hotels Rewards Program including Airasia, Club ITC, Club Vistara, Ethiopian Airlines ShebaMiles, Marriott Bonvoy, Etihad Guest, KrisFlyer, HG Hotels & Resorts, United, and Turkish Miles&Smiles at a ratio of 5:4.
- The only downside of this card does not offer golf benefits.
Despite its high annual joining fee, the Axis Bank Magnus credit card is an excellent choice for high net-worth individuals who desire a luxurious lifestyle. This card provides excellent benefits for both domestic and international travellers, access to exclusive dining experiences, and a low foreign currency markup fee.
#1. How can I get the annual fee waiver for the Axis Bank Magnus Credit Card?
You can get the annual fee waiver for the Axis Bank Magnus Credit Card by spending more than 15 lakhs in the preceding year.
#2. What is the welcome bonus for the Axis Bank Magnus Credit Card?
The welcome bonus for the Axis Bank Magnus Credit Card is a Tata Cliq voucher or a domestic flight ticket worth Rs. 10,000.
#3. Can I use my Axis Bank Magnus Credit Card for international transactions?
Yes, you can use your Axis Bank Magnus Credit Card for international transactions. However, a foreign currency markup fee of 2% will be applicable on all international transactions.
#4. How can I redeem my Axis eDGE REWARDS points earned through my Magnus Credit Card?
You can redeem your Axis eDGE REWARDS points through the EDGE REWARDS portal at a value of 1 Edge Reward = Re. 0.20. Alternatively, you can transfer your rewards points to the partner airlines/hotels rewards program for redemption.