Axis Bank Magnus Credit Card
By WhichWise Editorial Team · Verified ·
A super premium Visa card with unlimited lounge access with 19 transfer programs. Unlimited lounge visits sound great, but the quarterly spend requirement changes everything. We do the math.
Axis Bank
By WhichWise Editorial Team · Verified ·
A super premium Visa card with unlimited lounge access with 19 transfer programs. Unlimited lounge visits sound great, but the quarterly spend requirement changes everything. We do the math.
Fuel Surcharge Waiver Details
Transfer partner list updated: Qatar Airways, Marriott Bonvoy, Accor Hotels removed; British Airways, Finnair, Vietnam Airlines added. See Recent Changes for details.
You must spend ₹50,000/previous quarter to access domestic lounges (international Priority Pass access has no spend gate).
Fee waiver requires ₹25,00,000 annual spend (₹2,08,333/month) on eligible retail. Most issuers exclude cash, rent, wallet reload, and fuel from the waiver-eligible total.
9 spending categories earn zero rewards (including fuel, rent).
The Axis Bank Magnus Credit Card is Axis Bank's ₹12,500-a-year reward points credit card with about 1.2% base rewards on everyday spend. Best for ₹25-40l annual spenders.
Quick Decision
Reward earnings only, at the everyday spend mix: milestone vouchers and lounge value are tracked separately in the sections below. 9 categories (fuel, rent, wallet load, etc., see Excluded list) earn 0% and are NOT in this range.
Casual users hit the lower end; engaged users hit the upper end.
See full analysisPros & Cons
A balanced look at what this card does well and where it falls short.
- Fee waived on ₹25.0L annual spend
- Unlimited worldwide lounge access
- Welcome bonus worth ₹12,500
- Fuel transactions excluded from rewards
- Rent payments excluded from rewards
- 9 spending categories excluded
- High income requirement: ₹2,00,000/month
- Lounge access gated: spend ₹50,000 per quarter to unlock
Our editorial take on this card
What works
The Magnus offers one of India's widest transfer-partner networks: 19 programs total: 16 airlines (Air India, Singapore Airlines, Turkish, Etihad, Air Canada, Air France, United, Thai, Japan, Ethiopian, SpiceJet, AirAsia, Qantas plus the three new 5:1 partners) and 3 hotel chains (ITC, IHG, Wyndham). 16 partners transfer at 5:2 (5 EDGE = 2 miles); British Airways, Finnair, and Vietnam Airlines (Lotusmiles) were added April 2026 at a weaker 5:1. The tiered reward structure pays 2.4% on regular spend and jumps to 7% once you cross ₹1.5L/month (these percentages assume best-case airline transfer redemption at ₹0.40/point; voucher or cashback redemption yields less). Unlimited domestic and international lounge access via Priority Pass (4 free guest visits annually), contingent on spending ₹50K in the prior quarter. At 2% forex markup, it's among the lowest for Indian super-premium cards. The ₹12,500 welcome voucher (choice of Luxe gift card, The Postcard Hotels stay credit, or Yatra travel voucher, triggered on first transaction within 30 days) matches the base annual fee rupee-for-rupee, but the actual upfront outflow is ₹14,750 (₹12,500 + 18% GST) and the GST is non-refundable. The voucher is also closed-loop with platform-specific expiry, so the realistic year-1 net cost lands at roughly ₹4,000, much smaller than the headline ₹14,750 but not zero. Up to 30% dining discount at 4,000+ EazyDiner-partnered restaurants adds offline value for frequent diners. The 5:2 ratio means 5 EDGE points become 2 airline miles, and at ₹0.40 per EDGE point each transferred mile costs you ₹1 in EDGE value, but premium international seats on Air India or Singapore Airlines can unlock ₹3–6 per mile, turning the 7% EDGE tier into 10–15% effective travel value. The model rewards patience: collect points for 12–18 months and redeem a business-class ticket. Cashback seekers and anyone who rarely flies will not get there.
Nine spending categories earn zero EDGE points: fuel, rent, wallet loads, EMI, jewellery, government payments, insurance, utilities, and education. For a typical urban household these account for 35–50% of total monthly card spend, so your blended earn rate on all outflows is closer to 1.2–1.5%, not the headline 2.4%. The 2025 devaluation removed the monthly milestone bonus that gave 25,000 points for ₹1L+ spend. That alone was worth 3 lakh points (₹1.2L) annually for high spenders. If you spent ₹1–2L/month on the old Magnus, this devaluation cut your effective value by 30–50%. The transfer ratio dropped from 5:4 to 5:2, effectively halving the value of miles transfers. The fee jumped 25% from ₹10K to ₹12.5K (+GST = ₹14,750). Lounge access (both domestic and international via Priority Pass) requires ₹50K spend in the prior quarter. Miss that, and you're locked out for the quarter.
Bottom line
The Axis Magnus is still a strong travel card with India's best airline transfer network and genuinely unlimited lounge access. But the 2025 devaluation was severe. The monthly milestone removal alone costs high spenders over ₹1 lakh annually. If you spend ₹2L+/month and actively transfer points to airline partners, it still delivers. For everyone else, cheaper cards like the Regalia Gold or invite-only cards like the Infinia now offer better value per rupee of annual fee.
Independent analysis from public card terms, no paid placements or ratings.
Welcome Bonus
VerifiedOne-time bonus for new cardholders
Choice of Luxe gift card, The Postcard Hotels voucher, or Yatra voucher worth ₹12,500
So what does this card actually earn?
Reward Points
This card earns reward points on every transaction. The real value of your points depends on how you redeem them: here is a breakdown of the redemption tiers.
Cash redemption: 63% value loss vs best tier
Effective rate drops from 2.4% (at ₹0.40/point via vouchers/travel) to 0.9% (at ₹0.15/point as statement credit / cash equivalent). If you want flexible cash redemption, a flat 1.5%+ cashback card will out-earn this card.
per point
1.5%
assumes ₹0.25/point redemption
Redemption Tiers
Tap a tier to update the Value Verdict above
Worst Case
Statement credit
Tiered Rewards
Different reward rates by category
Cap: Monthly: ₹2,00,000
Transfer partner list updated: Qatar Airways, Marriott Bonvoy, Accor Hotels removed; British Airways, Finnair, Vietnam Airlines added.
- Qatar Airways removed as transfer partner (effective April 2, 2026)
- Marriott Bonvoy removed as transfer partner (effective April 2, 2026)
- Accor Hotels removed as transfer partner (effective April 2, 2026)
- British Airways Executive Club added as transfer partner (5:1 ratio)
- Finnair Plus added as transfer partner (5:1 ratio)
- Vietnam Airlines Lotusmiles added as transfer partner (5:1 ratio)
WhichWise monitors changes to card terms so you're never caught off guard by a devaluation. See all tracked changes →
Excluded Categories
9 categories earn no rewards on this card
⚠ Do not use for Fuel / Petrol / Diesel / CNG, Rent Payments, Wallet / Prepaid Instrument Loading and 6 more. You earn 0 rewards on these spends. Use a different card or pay direct.
This card works best for all spends and travel edge portal. Spends in those categories still earn at the headline rate.
Lounge Access
Complimentary airport lounge visits
Domestic
∞
unlimited
International
∞
unlimited
Priority Pass
Yes
membership
- Network
- Priority Pass
- Guest policy
- free
- Notes
- Unlimited domestic + international lounge visits (Priority Pass) — subject to ₹50K quarterly spend gate for each quarter's access
Rs.50,000 spend in the prior calendar quarter required to unlock Priority Pass access for the next quarter. First quarter after card issuance is waived.
Lounge Spend Requirement
Minimum spend needed to unlock lounge access
You must spend ₹50,000 in the previous quarter to access lounges.
Milestone Rewards
Bonus rewards when you hit spending targets
Historical (no longer earnable): 1
Complimentary domestic flight ticket or Tata CLiQ voucher worth ₹10,000 (annual)
Discontinued by Axis Bank in September 2023. Not available to new or existing cardholders. Do not factor this into your value calculation.
Transfer Partners
AnalysisReported ratiosConvert points to airline and hotel programs
| Program | Ratio | Min Transfer |
|---|---|---|
| Air India | 5:2 | — |
| Singapore Airlines | 5:2 | — |
| British Airways | 5:1 | — |
| Finnair | 5:1 | — |
| Vietnam Airlines | 5:1 | — |
| Etihad Airways | 5:2 | — |
| Turkish Airlines | 5:2 | — |
| Air Canada | 5:2 | — |
| Air France | 5:2 | — |
| United Airlines | 5:2 | — |
| Thai Airways | 5:2 | — |
| Japan Airlines | 5:2 | — |
| Ethiopian Airlines | 5:2 | — |
| SpiceJet | 5:2 | — |
| AirAsia | 5:2 | — |
| Qantas | 5:2 | — |
| ITC Hotels | 5:2 | — |
| IHG Hotels | 5:2 | — |
| Wyndham Hotels | 5:2 | — |
What does the ratio mean?
A 5:2 ratio means you transfer 5 reward points to get 2 airline miles. On premium flight redemptions, each mile can be worth ₹3–8, so your effective return on flights is often 1.5–4%, well above the headline earn rate. A 1:1 ratio means points transfer at full value.
Who Is This Card For?
Frequent flyers with ₹24L+ annual income who consistently spend ₹1.5L+/month to hit the 7% accelerated tier. Ideal if you fly 4+ times a year (especially internationally) and want the flexibility of 19 transfer partners. If you can hit ₹25L annual spend for the fee waiver, the effective cost drops to zero. Best paired with a low-forex card for international purchases.
Anyone spending under ₹1L/month: the 2.4% base rate isn't competitive enough to justify ₹14,750/year when the HDFC Regalia Gold offers similar value at lower fees. If you primarily want cashback rather than travel rewards, the SBI Cashback or HDFC MoneyBack+ are better choices. If you previously held the Magnus for milestone bonuses, re-evaluate whether the post-devaluation card still makes financial sense for your spend pattern.
How It Compares
Side-by-side with similar cards in our database.
| Feature | This card | Axis Bank Burgundy Private | HDFC Bank Diners Club Black Metal Edition |
|---|---|---|---|
| Annual fee | ₹12,500 | ₹50,000 | ₹10,000 |
| Reward ratecash-equivalent · accelerated | 1.50%2.40% if redeemed for travel | 3.00%no accelerator | 1.67%no accelerator |
| Network | Visa / Mastercard | Visa | Diners Club |
| Acceptance | Universal | Universal | Limited |
| Eligibility | Applicable | Applicable | Applicable |
Methodology: reward rates shown at cash-equivalent redemption (statement credit / direct cashback): the most conservative tier every cardholder can realize. Travel-transfer or partner-merchant routing can be materially higher; see each card's full review for upside scenarios.
Fees & Charges
Complete breakdown of all fees associated with this card.
Value Verdict
Eligible spend · no routingEstimated annual value at ₹50,000/month spend with base earn on eligible retail (after assumed 25% in excluded categories).
✓ On base rewards alone (no memberships, lounge, or milestones), this card pays for its GST-inclusive fee at ₹1,09,259/month spend. Below that, the card only makes sense if you actually use the perks listed above.
Year 1 also carries a one-time ₹12,500 + 18% GST joining fee (~₹14,750), charged upfront on issuance and not waivable by spend. The net above reflects the renewal-year fee; subtract the joining fee from year-1 value.
First year bonus: +₹12,500 welcome value (not included above)Year-1 net: ₹14,750 upfront (fee + 18% GST, GST non-refundable) − ~₹10,600 realized voucher value (closed-loop, ~15% liquidity haircut) ≈ ₹4,150 net cost, not zero.
↓ Accelerated rates (All Spends (₹1.5L to credit limit + ₹1.5L/month) at 7%, Travel Edge Portal (up to ₹2L/month) at 12%, Travel Edge Portal (above ₹2L/month) at 7%) not included: actual value may be higher
Assumptions used in this estimate▸
- • Reward earnings shown at the conservative redemption tier (Vouchers / merchandise).
- • Lounge value uses ~55% realistic utilization (most flyers don't fully clock the available visits). Per-visit anchors: ₹800 domestic, ₹1,500 international. Retail-equivalent (100% utilization) would be ₹18,600.
- • Lounge access is gated at ₹50,000/quarter preceding spend. At ₹50,000/month you clear the gate with ₹1,00,000 headroom, value counted at full utilization band.
- • Assumes 25% of your spend lands in 9 excluded categories (fuel, rent, etc.) that earn ₹0: eligible spend used in the math above is ₹37,500/month.
- • Annual fee of ₹12,500 + 18% GST (₹14,750 total) is included in the net calculation. Fee would be waived above ₹25,00,000/year spend.
Eligibility
Requirements you need to meet to apply for this card.
Before You Apply: Lounge Access Requires Spend
You must spend ₹50,000 per quarter to unlock lounge visits. Without meeting this threshold, lounge access is not available even though the card advertises it.
Data verified against Axis Bank official website · Last verified: 2026-05-17 · Terms & Conditions (MITC)
WhichWise does not accept payment for card placement or ratings. Fees, rates, and benefits may change. Always confirm with the issuer before applying.
Verified from the source
Key facts below are quoted verbatim from Axis Bank's own pages and documents, not paraphrased.
- Joining fee
“₹12,500”
Verified quote from axis.bank.in · fetched 2026-05-02 - Annual fee
“Annual fee of ₹12,500 + Taxes waived off”
Verified quote from axis.bank.in (issuer website) · fetched 2026-04-19 - Annual fee waiver
“waived off* on spend of ₹25 Lakhs in preceding year”
Verified quote from axis.bank.in (issuer website) · fetched 2026-04-19 - Welcome bonus
“Choose any one voucher worth ₹12,500* from below options:”
Verified quote from axis.bank.in (issuer website) · fetched 2026-04-19 - Forex markup
“Reduced mark-up fee of 2% on foreign transactions”
Verified quote from axis.bank.in (issuer website) · fetched 2026-04-19 - Lounge access
“unlimited complimentary international lounge visits and 4 additional guest visits per year”
Verified quote from axis.bank.in (issuer website) · fetched 2026-04-19 - Fuel surcharge waiver
“Fuel surcharge waiver of 1% for transactions between ₹400 to ₹4000”
Verified quote from axis.bank.in (issuer website) · fetched 2026-04-19 - Card network
“Mastercard”
Verified quote from axis.bank.in · fetched 2026-05-02
Interested in Axis Bank Magnus?
Check the official page for the latest terms before applying.