Last reviewed: 9 October 2026. Fees and benefits checked against Axis Bank’s official Magnus terms and conditions, its accelerated EDGE Reward Points terms and the Axis Bank credit card MITC.
The Axis Bank Magnus credit card is a premium rewards card built for very high spenders: it pays a modest base rate on the first ₹1.5 lakh each month and a much richer rate above that, with points that transfer to airline and hotel partners. It suits people who put ₹1.5 lakh or more a month on one card and know how to use airline miles. For anyone spending less, the ₹12,500 fee is hard to justify.
Magnus has been revised several times since 2023, so this review focuses on the current structure and flags the benefits that changed. Our scoring approach is set out on our how we rate credit cards, loans and deposits page.
Axis Bank Magnus credit card: key facts
| Feature | Details |
|---|---|
| Joining fee | ₹12,500 + 18% GST (nil for customers with a Burgundy Salary Account opened on or after 1 July 2026) |
| Annual fee | ₹12,500 + 18% GST |
| Fee waiver | Annual fee waived on ₹25,00,000 eligible spend in the previous card anniversary year |
| Base reward rate | 12 EDGE Reward Points per ₹200 on eligible spends up to ₹1.5 lakh a calendar month |
| Accelerated reward rate | 35 EDGE Reward Points per ₹200 on eligible spends above ₹1.5 lakh, up to your credit limit plus ₹1.5 lakh in that month; 12 per ₹200 beyond that |
| Travel EDGE | 5X points (60 per ₹200) on Travel EDGE bookings up to ₹2 lakh a month; these spends do not count towards the ₹1.5 lakh accelerated threshold |
| Point value | Transfer to partners at 5 points to 2 partner points or miles, up to 5 lakh points per calendar year. Axis does not state a fixed rupee value per point |
| Welcome benefit | A voucher worth ₹12,500 from a choice of Luxe, Postcard Hotels or Yatra (per the terms in force since September 2023) |
| Lounge access | Published Magnus terms offer unlimited domestic lounge visits and unlimited international Priority Pass visits for the primary cardholder, plus 8 guest visits a year. Axis has since tied domestic access to recent spend on Magnus for Burgundy, so confirm current conditions |
| Forex markup | 2% of the transaction value |
| Fuel surcharge waiver | 1% waived on fuel transactions of ₹400 to ₹4,000, up to ₹400 per statement cycle |
| Best for | Spends above ₹1.5 lakh a month and travellers who transfer points to airlines |
All fees attract 18% GST. A separate variant, Magnus for Burgundy, costs ₹30,000 a year, is waived at ₹30 lakh eligible spend and transfers points at a better 5:4 ratio, but it needs a Burgundy banking relationship.
What does not earn points
Utilities and telecom, wallet loads, government payments, insurance, gold and jewellery, fuel, cash advances and repayments earn no EDGE Reward Points and do not count towards the fee waiver. Rent counts only up to ₹50,000 a month. Unredeemed points are forfeited 30 days after card closure, or if the minimum due stays unpaid for more than 90 days.
What you would actually earn with Magnus
Magnus rewards depend heavily on monthly spend, so we show two cases. We convert points to partner miles at the official 5:2 ratio and, purely for illustration, value one partner mile at ₹1. Your real value depends on the airline and the seat you book.
Case 1: ₹2.5 lakh a month, credit limit ₹5 lakh
- First ₹1.5 lakh: ₹1,50,000 ÷ 200 × 12 = 9,000 points
- Next ₹1 lakh: ₹1,00,000 ÷ 200 × 35 = 17,500 points
- Monthly total: 26,500 points; yearly total: 3,18,000 points
- Transferred at 5:2: 1,27,200 partner miles (within the 5 lakh point annual cap)
- Annual spend of ₹30 lakh clears the ₹25 lakh waiver, so the fee is ₹0
- Illustrative net value: about ₹1,27,200
Case 2: ₹1 lakh a month
- ₹1,00,000 ÷ 200 × 12 = 6,000 points a month, or 72,000 a year
- Transferred at 5:2: 28,800 partner miles
- Annual spend of ₹12 lakh misses the waiver: fee is ₹12,500 + ₹2,250 GST = ₹14,750
- Illustrative net value: ₹28,800 minus ₹14,750 = about ₹14,050
The gap between the two cases is the whole story of Magnus. Below ₹1.5 lakh a month it behaves like an expensive 2.4% card at best; above it, the 35 point rate kicks in and the card becomes one of the most rewarding in India.
Pros and cons
Pros
- 35 points per ₹200 above ₹1.5 lakh a month is a very high earn rate for big spenders.
- 2% forex markup is lower than the 3.5% on most Axis cards.
- Cash withdrawal fee is waived and finance charges are lower at 3% a month.
- Fee is waived at ₹25 lakh annual eligible spend.
- Fuel surcharge waiver of up to ₹400 per cycle.
Cons
- Transfer ratio was cut to 5:2 in September 2023, roughly halving partner value.
- Below ₹1.5 lakh monthly spend, the return is ordinary for a ₹12,500 card.
- Accelerated earning stops at your credit limit plus ₹1.5 lakh each month.
- Long exclusion list, including insurance, utilities, fuel and gold.
- Frequent revisions make the long-term value hard to predict.
Fees and charges
| Charge | Amount |
|---|---|
| Finance charges | 3.0% a month (42.58% a year) |
| Late payment fee | Nil up to ₹500 due; ₹500 for ₹501 to ₹5,000; ₹750 for ₹5,001 to ₹10,000; ₹1,200 for ₹10,001 to ₹50,000; ₹1,300 above ₹50,000. An extra ₹100 applies if the minimum due is missed for two cycles in a row |
| Cash advance fee | Waived (interest still applies from the day of withdrawal) |
| Forex markup | 2% |
| Over-limit fee | 2.5% of the over-limit amount, minimum ₹500 |
| Reward redemption fee | No fee stated in the MITC |
GST at 18% is added to all fees and charges.
Eligibility and documents
Magnus is aimed at high-income Indian residents, and approval depends on income, existing relationship with Axis and credit history. The official documents we could read did not state a fixed income threshold, so check the card page before applying. Keep these ready:
- PAN card and Aadhaar or another valid ID
- Address proof if different from your ID
- Latest salary slips and Form 16, or two years of ITR for the self-employed
Existing Axis customers with large balances or salary accounts often get upgrade offers, and Burgundy Salary Account holders opened from 1 July 2026 pay no joining fee.
How Magnus compares
| Card | Annual fee | Fee waiver | Forex markup | Cash advance fee |
|---|---|---|---|---|
| Axis Magnus | ₹12,500 | ₹25 lakh eligible spend | 2% | Waived |
| Axis Atlas | ₹5,000 | None | 3.5% | 2.5%, min ₹500 |
| Axis Reserve | ₹50,000 | ₹35 lakh eligible spend | 1.5% | Waived |
Atlas is the better pick for travellers spending under ₹1.5 lakh a month, since it earns 5% on direct travel for a much smaller fee. Reserve suits those who spend heavily abroad and can clear its ₹35 lakh waiver. Browse more on our credit card reviews page.
Our verdict
Magnus is excellent for people who reliably spend well above ₹1.5 lakh a month and transfer points to airlines, because the 35 point tier and the fee waiver together make it hugely rewarding. Skip it if your monthly spend is lower, if you prefer simple cashback, or if you cannot stomach a card whose terms keep changing.
How to apply
Apply on the official Axis Bank Magnus credit card page, through the Axis Mobile app or with your relationship manager. The bank will verify income and run a credit check before approval.
Frequently asked questions
How do Magnus reward points work after the 2025 changes?
You earn 12 points per ₹200 up to ₹1.5 lakh a month, then 35 points per ₹200 up to your credit limit plus ₹1.5 lakh, and 12 points per ₹200 beyond that.
What is the Magnus transfer ratio?
Standard Magnus transfers at 5 EDGE Reward Points to 2 partner points, capped at 5 lakh points per calendar year. Magnus for Burgundy gets 5:4 with a higher cap.
How can I get the Magnus annual fee waived?
Spend ₹25 lakh on eligible categories in a card anniversary year. Excluded categories such as utilities, fuel, insurance and wallet loads do not count.
Is Magnus good for foreign spending?
It is better than most Axis cards, with a 2% forex markup instead of 3.5%, though Reserve is lower still at 1.5%.
Does Magnus still have unlimited lounge access?
Published terms list unlimited domestic and international visits for the primary cardholder, but Axis has added spend conditions on related cards. Check the current lounge terms on the Axis website before relying on it.
This article is for informational purposes only and does not constitute financial advice. Card terms change often; confirm the latest fees and benefits on the bank’s website before you apply.
