Axis Bank Magnus Credit Card Review

General Information

Rewards and Benefits

Fees and Charges

Summary

- As a welcome benefit, you will receive gift vouchers worth ₹12,500 from Luxe, Postcard Hotels, or Yatra. - For every ₹200 spent on retail purchases up to ₹1.5 Lakhs, you will earn 12 Axis EDGE REWARDS Points. Once you exceed the monthly spend of ₹1.5 Lakhs, you will earn 35 RPs per ₹200. - When you spend ₹200 on the Travel Edge portal up to ₹2 Lakhs, you will earn 60 Axis EDGE REWARDS Points. After exceeding the monthly spend of ₹2 Lakhs, you will earn 35 RPs per ₹200. - You can enjoy unlimited domestic airport lounge access every year. - With Priority Pass, you can enjoy unlimited complimentary international lounge visits every year. - You can avail discounted stays at Oberoi Hotels. - Under the Axis Bank Dining Delights program, you can avail a 40% discount up to Rs 1,000 at 4,000+ restaurants across India via Eazydiner. - The Axis Bank Magnus Card provides credit shield cover worth ₹5 lakh against misuse of the card and purchase protection worth ₹2 lakh. - You will have access to various medical benefits including a medical concierge, a second medical opinion, preventive healthcare diagnostic programs, and global travel and medical assistance. - Enjoy lower interest rates (2.5% pm), a foreign currency markup of 2%, and zero cash withdrawal fee with the Axis Bank Magnus Card.

The Axis Bank Magnus Credit Card is a travel, dining, and shopping-oriented credit card offered by Axis Bank.

With a joining fee of Rs. 12,500 + GST and a renewal fee of Rs. 12,500 + GST, it is designed to cater to the needs of individuals who frequently indulge in these activities.

One of the major highlights of this credit card is its reward type, which is in the form of Reward Points.

Cardholders can earn 12 Axis EDGE REWARDS Points for every Rs. 200 spent on shopping, making it an ideal choice for frequent shoppers.

Additionally, they can also earn 5X EDGE REWARDS on travel spends via TRAVEL EDGE, further adding value to their journeys.

As a welcome benefit, customers are offered the option to choose a gift voucher worth Rs. 12,500 from Luxe, Yatra, or Postcard Hotels.

This benefit allows users to kick-start their credit card journey with a memorable experience.

Under the Axis Dining Delights Program, cardholders can enjoy a 20% discount at 4,000+ restaurants across India.

This perk is perfect for those who love dining out and exploring new culinary experiences.

Furthermore, the Magnus Credit Card also provides complimentary airport lounge access, both domestically and internationally.

Primary cardholders can enjoy unlimited access to domestic lounges and 8 complimentary visits for their guests at international lounges.

This feature makes travel more comfortable and luxurious.

The credit card also offers discounted stays at Oberoi Hotels, allowing users to indulge in luxury accommodations at reduced rates.

This benefit adds a touch of sophistication to one's travel experiences.

In terms of insurance benefits, the Magnus Credit Card offers credit shield protection worth Rs. 5 lakh in case of card loss and a purchase protection worth Rs. 2 lakh.

These perks provide financial security and peace of mind to cardholders.

Additionally, the Magnus Credit Card provides a spend-based waiver for the annual fee.

If the cardholder spends Rs. 25 lakhs in the preceding year, the fee for the following year is waived off, giving users the opportunity to save on renewal charges.

With a foreign currency markup of 0.02, cardholders can enjoy competitive exchange rates while traveling abroad.

The card also offers a 1% fuel surcharge waiver at all fuel stations across India, making it a convenient option for those who frequently commute by car.

One notable aspect worth mentioning is the interest rate, which stands at 3.0% per month (42.58% annually).

While the rate is on the higher side, it is standard for credit cards in the market.

Overall, the Axis Bank Magnus Credit Card is an excellent choice for individuals who travel, dine out, and shop extensively.

Its reward points, welcome benefits, airport lounge access, and insurance benefits make it a valuable addition to any wallet.