Axis Bank Magnus Credit Card
Axis Bank
Annual Fee
₹12,500
Joining Fee
₹12,500 + GST
Base Reward
12% cashback
Foreign Markup
3.5% + GST
Fee Waiver
Annual Fee Waiver on Spends of ₹25 Lakh
Interest Rate
3.75% per month
Welcome Benefits
Choose a gift voucher worth ₹12,500 from Luxe, Yatra, or Postcard Hotels
Product Highlights
- 12 Axis EDGE REWARDS Points for every ₹200 spent on retail purchases up to ₹1.5 Lakhs.
- Earn 35 RPs per ₹200 after exceeding the monthly spend of ₹1.5 Lakhs.
- Unlimited domestic airport lounge access every year.
- Discounted stays at Oberoi Hotels.
- 5% CashBack on online shopping
- Complimentary lounge access
Rewards
Earn 12 Axis EDGE REWARDS Points for every ₹200 spent with the card, 5X EDGE REWARDS on travel spends via TRAVEL EDGE.
Redemption
1 CashPoint = ₹1 against statement
Category Rewards
| Category | Reward Rate | Monthly Cap |
|---|---|---|
shopping | 5%(5% CashBack Online) | No cap |
Merchant-Specific Rewards
| Merchant | Reward | Context |
|---|---|---|
| Amazon | 5% CashBack | online |
| Flipkart | 5% CashBack | online |
Benefits & Features
Domestic: 4 complimentary visits per quarter via DreamFolks (Spends of ₹50,000 or More in the Previous Quarter) International: Unlimited Complimentary International Airport Lounge Access (Available from year 2 onwards) Full lounge access description for primary and add-on cardholders.
Fees & Charges
Eligibility
Min Age
21 years
Max Age
40 years
Min Income (Salaried)
₹35,000
Min Income (Self-Employed)
₹6,00,000
Available Networks
Pros & Cons
Pros
- There are no cash withdrawal charges with this card.
- Unlimited international and domestic lounge access with the Magnus Credit Card.
- 1,000 CashPoints on card setup
- 4 complimentary lounge visits per quarter
Cons
- The annual income required to be eligible for the Axis Bank Magnus Credit Card is very high, at ₹24 lakh.
- There are no golf benefits with this card.
- Annual fee of ₹1,000
- Min ₹2L quarterly spend for lounge access
Additional Info
Max reward cap info not specified.
Excluded Categories