Axis Bank Magnus Credit Card Review: Big Points Only Above ₹1.5 Lakh

The Axis Bank Magnus Credit Card earns 12 EDGE REWARD Points per ₹200 on the first ₹1.5 lakh you spend in a calendar month and 35 points per ₹200 above that, so it pays off mainly for people spending well over ₹1.5 lakh a month. It costs ₹12,500 plus GST a year, waived on ₹25 lakh of eligible spends, and needs ₹24 lakh of yearly income.

By Ramesh Kulkarni · Content Writer Updated 5 November 2026 Reviewed by BankCreds Financial Experts

Key facts

Joining fee: ₹12,500 + GST
Annual fee: ₹12,500 + GST. Annual fee waived on eligible spends of INR 25 lakh in the preceding card anniversary year (rent, wallet, utilities, government, EMI conversions, cash, reversals, fees, insurance, gold/jewellery, fuel and gift cards excluded). Lifetime free (Nil fees) for customers with a Burgundy Salary Account opened on or after 1 July 2026 with net monthly salary of INR 2 lakh or more.
Base reward: 12 EDGE REWARD Points per INR 200 on eligible spends up to INR 1.5 lakh in a...
Best category: Monthly eligible spends above INR 1.5 lakh: 35 EDGE REWARD Points per INR 200
Lounge: Domestic: Unlimited complimentary visits at select domestic airport lounges (card, not Priority Pass, from 28 Aug 2026); 4 guest visits a calendar year International: Unlimited complimentary visits with Priority Pass, plus 4 guest visits per year
Forex markup: 2% of the amount
Network: Mastercard

Apply on Axis Bank's site

Opens the bank's own page for this card. Approval and the credit limit are the bank's decision.

In short

A strong card for very high spenders who transfer points to airlines and hotels, but below ₹1.5 lakh of monthly spend the fee is hard to justify.

Best for

People spending well above ₹1.5 lakh a month on eligible categories
Frequent flyers who move points to airline and hotel partners
Burgundy Salary customers who qualify for the lifetime-free version

Skip it if

Your monthly card spend is under ₹1.5 lakh
You want a published rupee value for every point

Highlights

₹12,500 plus GST, waived on ₹25 lakh yearly spend
12 points per ₹200, 35 per ₹200 above ₹1.5 lakh a month
5 points convert to 2 partner miles
Unlimited domestic and Priority Pass lounge visits
2% forex markup

What Magnus is and who it is for

Axis Bank Magnus Credit Card is Axis's super-premium Mastercard for big spenders, earning EDGE REWARD Points you can move to airline and hotel programmes. It is active and open for applications. It make sense once your monthly card spend crosses ₹1.5 lakh, because that is where the higher earn rate kicks in.

Three things to know first

Two-speed earning. 12 points per ₹200 up to ₹1.5 lakh in a calendar month, then 35 points per ₹200 up to your credit limit plus ₹1.5 lakh.
No published point value. Axis gives the transfer ratio, 5 points for 2 partner miles, but not what a point is worth on its catalogue.
Lounges with a condition. Domestic visits are unlimited but need ₹50,000 of spends in the previous 3 calendar months; Priority Pass visits abroad are unlimited.

Changes from 2024 to 2026

The card got trimmed many time. From 20 April 2024 insurance, gold and fuel stopped earning, partner transfers got yearly caps and guest lounge visits fell from 8 to 4. From 20 June 2025 the 35-point rate stops at the credit limit plus ₹1.5 lakh and rent earn is capped at ₹50,000 a month. A lifetime-free version for new Burgundy Salary customers came on 1 July 2026. Since 28 August 2026 the conversion markup is 2%, up from 1.5%, and Priority Pass stopped working in Indian domestic lounges, and from 15 November 2026 complimentary memberships renews only with your consent.

Fees and charges on Magnus

Magnus charges ₹12,500 to join and ₹12,500 every year after, plus GST. At 18% GST, ₹12,500 plus ₹2,250 is ₹14,750 that you actually pay. Add-on cards are free. Customers who open a Burgundy Salary Account on or after 1 July 2026 with a net monthly salary of ₹2 lakh or more can have Magnus lifetime free, without the welcome benefit. A separate Magnus for Burgundy variant at ₹30,000 exist and is not covered here.

Can you reach the waiver?

The annual fee is waived on ₹25 lakh of eligible spends in the preceding card anniversary year, which is ₹25,00,000 divided by 12, about ₹2,08,333 a month. The list of what don't count is long: rent, wallet, utilities, government, EMI conversions, cash, insurance, gold and jewellery, fuel and gift cards.

Interest, cash and penalties

Interest is 3.0% a month, or 42.58% a year, lower than most Axis cards. There is no cash withdrawal fee, though interest at 3.0% a month runs from the day you withdraw. Late fee slabs are same as other Axis cards, rising to ₹1,300 when the total due is above ₹50,000, and the over-limit fee is 2.5%, minimum ₹500.

Forex markup is 2% on foreign currency spends and rupee payments abroad, so ₹1,00,000 spent abroad costs ₹2,000 plus ₹360, the 18% GST on it.
Rent 1% per payment plus GST; utilities 1% from ₹25,000 a cycle; wallet loads and online gaming 1% from ₹10,000; fuel 1% from ₹50,000; education via third-party apps 1%.

Magnus: fees and charges

Joining fee	₹12,500 + GST
Annual or renewal fee	₹12,500 + GST
Annual fee waiver	Annual fee waived on eligible spends of INR 25 lakh in the preceding card anniversary year (rent, wallet, utilities, government, EMI conversions, cash, reversals, fees, insurance, gold/jewellery, fuel and gift cards excluded). Lifetime free (Nil fees) for customers with a Burgundy Salary Account opened on or after 1 July 2026 with net monthly salary of INR 2 lakh or more.
Add-on card fee	Nil
GST	Charged on top of the fees and charges listed
In the bank’s words	Joining fee INR 12,500 + GST and annual fee INR 12,500 + GST; waived on INR 25 lakh annual eligible spends; add-on free. Separate 'Magnus for Burgundy' variant at INR 30,000 (not researched here).
Interest on unpaid balances	Up to 3% a month (42.58% a year)
Late payment fee	Nil if total payment due is up to INR 500; INR 500 for INR 501 to 5,000; INR 750 for INR 5,001 to 10,000; INR 1,200 for INR 10,001 to 50,000; INR 1,300 if greater than INR 50,000; additional INR 100 if Minimum Amount Due is missed for two consecutive cycles, every cycle until MAD is cleared (MITC; INR 1,300 slab effective 28 Aug 2026)
Cash withdrawal	No cash withdrawal fee; interest at 3.0% per month (42.58% a year) from the date of withdrawal
Over-limit fee	2.5% of the over-limit amount, minimum INR 500
Forex markup	2% of the amount
Other fees	Rent transactions: 1% of each rent transaction (MCC 6513), plus GST Education payments via third-party apps: 1% per transaction (direct payments on the institution's website or POS exempt) Utilities: 1% on cumulative spends of INR 25,000 or more per statement cycle Wallet loads: 1% on cumulative spends of INR 10,000 or more per statement cycle Fuel: 1% on cumulative spends of INR 50,000 or more per statement cycle Online skill-based gaming: 1% on cumulative spends of INR 10,000 or more per statement cycle Foreign currency transaction fee: 2.0% of transaction value Dynamic currency conversion markup: 2.0% (INR transactions at overseas locations or with merchants registered abroad) Cash payment at branch: INR 175 per payment Cheque return / auto-debit reversal / SI or NACH failure: 2% of payment amount, minimum INR 500 Reward redemption: INR 99 per redemption on the EDGE REWARDS portal; INR 199 per transfer of EDGE REWARD Points/EDGE Miles to partner loyalty programmes

How Magnus points add up

Eligible spends up to ₹1.5 lakh in a calendar month earn 12 EDGE REWARD Points per ₹200. Above that, every ₹200 earns 35 points, but only up to spends equal to your credit limit plus ₹1.5 lakh; after that the rate fall back to 12. Travel EDGE bookings earn 5X, which the September 2023 terms set at 60 points per ₹200 up to ₹2,00,000 a month; the current card page says 5X and states no cap.

No points comes on utilities and telecom, wallet loads, government payments, insurance, gold and jewellery, fuel, cash, gift cards, repayments and tolls. Rent earn is capped at ₹50,000 a month and rent also carry the 1% fee, so it is a poor earner.

Partner transfer: 5 points become 2 miles or hotel points across 20 travel partners, within yearly limits of 1 lakh points to Group A and 4 lakh to Group B, at ₹199 a transfer.
EDGE REWARDS catalogue: Axis does not publish a rupee value per point for Magnus, and each redemption cost ₹99.
Points expire 3 years after allotment, or after 365 days with no account activity, and can be forfeited 30 days after closure or if the minimum due stays unpaid over 90 days.

The welcome benefit is one ₹12,500 voucher from Luxe, The Postcard Hotels or Yatra; the page does not say when it comes or if the fee must be paid first, and lifetime-free Burgundy Salary cards get none. No milestone rewards are listed. The page mentions purchase protection and lost card liability cover but gives no amounts. Because no rupee value is there, the examples give points, miles and the per-point value that covers the ₹14,750 fee.

Example 1: light spender, ₹80,000 a month

₹50,000 of shopping and dining and ₹20,000 of groceries earn; ₹5,000 of electricity and ₹5,000 of fuel do not. ₹70,000 divided by ₹200 is 350, times 12 is 4,200 points a month, 50,400 a year, or 50,400 times 2 divided by 5, which is 20,160 miles. At ₹70,000 times 12, ₹8,40,000 a year, the fee stays, so a point must be worth ₹14,750 divided by 50,400, about ₹0.29, to break even.

Example 2: typical spender, ₹2,10,000 a month

₹2,00,000 of eligible spends plus ₹10,000 of utilities. The first ₹1,50,000 gives 750 times 12, so 9,000 points, and the next ₹50,000 gives 250 times 35, so 8,750, if your limit is at least ₹50,000. That's 17,750 a month, 2,13,000 a year, or 85,200 miles. ₹2,00,000 times 12 is ₹24 lakh, ₹1 lakh short of the waiver, so break-even is ₹14,750 divided by 2,13,000, about ₹0.07 a point, and only 1 lakh points can go to Group A.

Example 3: heavy spender, ₹3,00,000 a month

All ₹3,00,000 are eligible and the limit is ₹1.5 lakh or more. The first ₹1.5 lakh gives 9,000 points and the next ₹1.5 lakh gives 750 times 35, or 26,250. That is 35,250 a month and 4,23,000 a year, or 1,69,200 miles. ₹3,00,000 times 12 is ₹36 lakh, so the next annual fee is waived, and the 1 lakh plus 4 lakh transfer limits still cover every point.

Spender	Eligible spend a month	Points a year	Partner miles	Break-even per point
Light	₹70,000	50,400	20,160	About ₹0.29
Typical	₹2,00,000	2,13,000	85,200	About ₹0.07
Heavy	₹3,00,000	4,23,000	1,69,200	Fee waived next year

Magnus: higher-reward categories

Category	Rate	Cap
Monthly eligible spends above INR 1.5 lakh	35 EDGE REWARD Points per INR 200	Up to spends equal to the assigned credit limit + INR 1.5 lakh per calendar month; 12 points per INR 200 thereafter, calendar month
Travel EDGE portal	5X: 60 EDGE REWARD Points per INR 200	Up to cumulative Travel EDGE spends of INR 2,00,000 a month; 35 points per INR 200 above that (Sept 2023 terms; current page says '5X Reward points on spends via Travel EDGE'), ₹2,00,000, month

Magnus: how rewards work

Earned as	EDGE REWARD Points
Base rate	12 EDGE REWARD Points per INR 200 on eligible spends up to INR 1.5 lakh in a calendar month
Minimum spend rules	Points earned per INR 200 spent.
No rewards on	Utility and telecom Rent (capped at INR 50,000 per month) Wallet Government spends Insurance Gold and jewellery Fuel Cash advances Repayments Gift cards Bridge fees, road fees and tolls
Lower rewards on	None published
Value of a point	Transfer to partner airline/hotel programmes: 5 EDGE REWARD Points = 2 partner miles across 20 travel partners; yearly transfer caps of 1 lakh points to Group A and 4 lakh points to Group B partners EDGE REWARDS catalogue: Value per point not stated for Magnus
Redemption fee	INR 99 per redemption on the EDGE REWARDS portal; INR 199 per transfer to partner programmes (stated on other Axis card pages)
Expiry	EDGE REWARD Points expire 3 years from allotment, or after 365 days without account activity; forfeiture 30 days after closure or MAD overdue 90+ days.
Welcome benefits	One voucher worth INR 12,500: Luxe gift card, The Postcard Hotels gift voucher or Yatra gift voucher (not for lifetime-free Burgundy Salary cards)
Milestone benefits	None published
Lounge access	Domestic: Unlimited complimentary visits at select domestic airport lounges (card, not Priority Pass, from 28 Aug 2026); 4 guest visits a calendar year International: Unlimited complimentary visits with Priority Pass, plus 4 guest visits per year Condition: Domestic lounges: spends of INR 50,000 in the previous 3 calendar months (Magnus is not on the Axis waiver list)
Fuel surcharge waiver	1% fuel surcharge waiver on transactions of INR 400 to INR 4,000; capped at INR 400 per month
Insurance cover	Purchase protection and lost card liability covers mentioned; amounts not stated on the page

Eligibility and how to apply for Magnus

Axis asks for a net salary of ₹24 lakh a year, or for the self-employed an income tax return showing net annual income of ₹24 lakh. That is ₹24 lakh divided by 12, or ₹2 lakh a month. Applicants must be aged 18 to 70 and Indian residents, and add-on holders over 18.

For the lifetime-free version, the Burgundy Salary Account must be opened on or after 1 July 2026 and at least one net salary credit of ₹2 lakh or more need to come before the card is issued. Paperwork is the usual PAN copy or Form 60 with income and address proof, and you can apply on Axis's website form, the Axis Mobile app or at a branch.

What the bank checks

The RBI's 2025 card Directions makes Axis assess your credit risk on your independent financial means and fix a limit after looking at your other limits. On this card the limit matter a lot, because the 35-point rate stops at your limit plus ₹1.5 lakh. A rejection must come with specific reasons in writing, and the decision is Axis's alone. Magnus holders have a dedicated line, 1800 419 0065; other numbers are on our Axis Bank customer care page.

Magnus: eligibility and documents

Age (salaried)	18 to 70 years
Age (self-employed)	18 to 70 years
Income (salaried)	Net salary of INR 24 lakh per annum
Income (self-employed)	Income tax return filed for net annual income of INR 24 lakh
Other conditions	Resident of India; add-on cardholders over 18. Lifetime-free variant: Burgundy Salary Account opened on or after 1 July 2026 and first net salary credit of INR 2 lakh or more. minIncomeMonthly is INR 24 lakh a year divided by 12.
Documents	PAN card photocopy or Form 60 Latest payslip, Form 16 or IT return as income proof Residence proof: passport, driving licence, electricity bill or landline telephone bill
How to apply	Online through the Axis Bank website application form (choose the card, enter mobile number and PAN or date of birth, check eligibility and offers, verify by OTP), through the Axis Mobile app, or at an Axis Bank branch. FD-backed 'Easy' cards are applied for online by booking an FD (Video KYC for non-customers). Some co-brand cards are applied for through the partner's app (Airtel Thanks app for Airtel Axis; Google Pay for Google Pay Flex; Fibe; Scapia).
Card customer care	1800 4030 / 1800 8911 (toll free; Retail Phone Banking)

These are the bank's published conditions. Meeting them does not guarantee a card: approval and the credit limit are the bank's decision.

Magnus against other premium travel cards

The AU Zenith+ card costs ₹4,999 plus taxes, waived on ₹8 lakh, and gives 1 point per ₹100 with each point worth ₹1, or 2 points on travel, dining and international spends. It has 16 domestic and 16 international lounge visits a year and a 0.99% forex markup, but the income bar is very much high at ₹2.5 lakh of monthly net income.

The HSBC TravelOne card is ₹4,999, reversed above ₹8,00,000 a year. It earns 2 points per ₹100, or 4 on flights, travel aggregators and foreign currency up to 50,000 accelerated points a month, and points move one to one to airlines such as Air India Maharaja Club. It has 6 domestic and 4 international lounge visits, with 3.5% forex.

The ICICI Bank Sapphiro card charges ₹6,500 to join and ₹3,500 a year, waived for the next year on ₹6 lakh. It gives 2 points per ₹100 at home and 4 abroad, 4 domestic lounge visits a quarter on ₹75,000 of quarterly spend and 2 Priority Pass visits a year, with 3.5% forex.

Which one to pick

Magnus wins only for people spending above ₹1.5 lakh a month who use the 35-point rate. AU Zenith+ give a clear ₹1 point value and low forex for ₹4,999, TravelOne suits flyers wanting one-to-one airline transfers, and Sapphiro is more cheaper way into premium perks. Before deciding, check the Axis card hub, our comparison page and the BankCreds credit card guide.

Magnus against similar cards

Term	Axis Bank Magnus Credit Card This card	AU Zenith+ Credit Card	HSBC TravelOne Credit Card	ICICI Bank Sapphiro Credit Card
Bank	Axis Bank	AU Small Finance Bank (AU Bank)	HSBC India	ICICI Bank
Joining fee	₹12,500 + GST	₹4,999 + GST	₹4,999 + GST	₹6,500 + GST
Annual fee and waiver	₹12,500 + GST. Annual fee waived on eligible spends of INR 25 lakh in the preceding card anniversary year (rent, wallet, utilities, government, EMI conversions, cash, reversals, fees, insurance, gold/jewellery, fuel and gift cards excluded). Lifetime free (Nil fees) for customers with a Burgundy Salary Account opened on or after 1 July 2026 with net monthly salary of INR 2 lakh or more.	₹4,999 + GST. For 2nd year onwards fee waiver: Rs. 8 Lakhs net retail spends done in previous card anniversary year	₹4,999 + GST. Annual fee, including GST, fully reversed if total eligible spend across primary and add-on cards in the anniversary year exceeds Rs 8,00,000	₹3,500 + GST. Spend over ₹6 lakh and get your Annual Fee waived off for the next year
Base reward	12 EDGE REWARD Points per INR 200 on eligible spends up to INR 1.5 lakh in a...	1 Reward Point per Rs.100 spent across all merchant categories... (about 1% value)	2 reward points for every Rs 100 spent, no cap	2 reward points per ₹100 on domestic spend
Best category	Monthly eligible spends above INR 1.5 lakh: 35 EDGE REWARD Points per INR 200	Travel, dining and international spends: about 2% value	Flights, travel aggregators and foreign currency spends: 4 reward points per Rs 100	International spend: 4 reward points per ₹100
Lounges	Domestic: Unlimited complimentary visits at select domestic airport lounges (card, not Priority Pass, from 28 Aug 2026); 4 guest visits a calendar year International: Unlimited complimentary visits with Priority Pass, plus 4 guest visits per year	Domestic: 16 complimentary domestic airport lounge visits a year (4 per quarter) International: 16 complimentary international lounge visits a year (4 per quarter) with Priority Pass	Domestic: 6 complimentary domestic lounge visits a year International: 4 complimentary international lounge visits a year (LoungeKey)	Domestic: 4 domestic airport lounge accesses per quarter (primary) on ₹75,000 spend in the preceding quarter (dual Mastercard and Amex holders: 2 per variant) International: 2 complimentary international lounge accesses a year via Priority Pass (primary)
Forex markup	2% of the amount	0.99% of the amount	3.5% of the amount	3.5% of the amount
Network	Mastercard	Visa, RuPay	Mastercard	Mastercard, American Express, RuPay
Published minimum income	₹2,00,000 a month	₹2,50,000 a month	₹50,000 a month	₹75,000 a month
Status	Taking applications	Taking applications	Taking applications	Taking applications

Frequently asked questions

What is the Axis Magnus annual fee and how can it be waived?

The joining and annual fees are ₹12,500 each, plus GST. Axis waives the yearly fee when your eligible spends in the previous card anniversary year reach ₹25 lakh, leaving out rent, wallet, utilities, fuel, insurance, gold and similar categories. New Burgundy Salary customers with a net monthly salary of ₹2 lakh or more can get it lifetime free, without the welcome voucher.

What is one Axis Magnus EDGE REWARD Point worth?

Axis publishes only the transfer ratio: 5 EDGE REWARD Points become 2 partner miles or hotel points across 20 travel partners, with ₹199 charged per transfer. It does not state a rupee value per point on the EDGE REWARDS catalogue for Magnus, and each catalogue redemption costs ₹99. Points last 3 years from allotment.

What income do I need for the Axis Magnus card?

Salaried applicants need a net salary of ₹24 lakh a year, and self-employed applicants need an income tax return showing net annual income of ₹24 lakh, about ₹2 lakh a month. You must be between 18 and 70 and live in India. Meeting these does not mean approval, which is the bank's decision.

Does Magnus give unlimited lounge access and a low forex fee?

It gives unlimited visits at select domestic lounges using the card, subject to ₹50,000 of spends in the previous 3 calendar months, and unlimited international visits with Priority Pass, plus 4 guest visits a year on each. The forex markup is 2% plus GST, lower than the 3.5% on most Axis cards.

What changed on the Axis Magnus card in 2026?

From 1 July 2026 new Burgundy Salary customers can get Magnus lifetime free. From 28 August 2026 the dynamic currency conversion markup is 2%, up from 1.5%, a ₹1,300 late fee slab applies above ₹50,000 and Priority Pass no longer works in Indian domestic lounges. From 15 November 2026 complimentary memberships renew only with your consent.

How does the 35-point rate on Magnus work?

Eligible spends up to ₹1.5 lakh in a calendar month earn 12 points per ₹200. Spends above that earn 35 points per ₹200, but only up to your credit limit plus ₹1.5 lakh in that month, then the rate returns to 12. At ₹2 lakh of spend and a limit of at least ₹50,000, the top ₹50,000 divided by ₹200, times 35, is 8,750 points.

Sources

Axis Bank: Most Important Terms and Conditions (MITC), PDF dated 8 October 2026; Key Fact Sheet (schedule of charges), last updated 8 October 2026; Revision of Axis Bank Magnus Credit Card Terms & Conditions (effective 1 September 2023); Revision of MAGNUS Credit Card Terms and Conditions (effective 20 June 2025); Revision of Axis Bank MAGNUS Credit Card Terms & Conditions (effective 20 April 2024); Terms & Conditions - Magnus Credit Card LTF for Burgundy Salary Customers; Axis Bank Magnus Credit Card page; IndianOil Axis Bank Credit Card page (fees table); Axis Bank Atlas Credit Card page (fees table); Axis Bank support: Validity of EDGE REWARD Points

Last verified: 5 November 2026

Written by Ramesh Kulkarni, reviewed by BankCreds Financial Experts

BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.