Axis Bank Magnus Credit Card
Rewards & Benefits
Welcome Benefits
Customers can choose any voucher worth INR 12,500 from options like Luxe gift card, The Postcard Hotels gift voucher, or Yatra gift voucher.
Milestone Benefits
Cashback Rate
Users can earn 6 Axis Edge rewards points on every INR 100 spent up to spent of Rs. 1,50,000 in a calendar month.
The value of each point is INR 0.2. The effective cashback rate is 1.2%.
Users will get 17.5 Edge rewards points for every RS. 100 spent post spending Rs. 1,50,000 in a calendar month. Effective cashback rate: 3.5%.
5x reward points on spending via Travel EDGE.
Movie Benefits
Dining Benefits
Other Benefits
.; Up to 15% off on international and domestic Oberoi and Trident Hotels.; The card also provides medical offers and benefits.
Lounge Access
Fees & Charges
Joining Fee
Annual Fee
12,500 + taxes, waived off in case of spend of Rs.25 lakhs in the preceding year.
Cash Advance Fee
Cash Withdrawal Fee: INR 0
Interest rate
3 % per month (42.58% per annum).
Late Payment Fee
Late Payment Fee: charged depending on the customer’s Total amount due; ranges from Rs. 0 - 1200.
Foreign Currency Transactions Fee
Forex Markup: 2%
Other Fees
Reward Redemption Fee: INR 0
Cons
High annual fee.
Low cashback rate.
High eligibility threshold of minimum annual income of INR 18 lakh.
Welcome Benefit: Customers can choose any voucher worth INR 12,500 from options like Luxe gift card, The Postcard Hotels gift voucher, or Yatra gift voucher.
Rewards System: Users can earn 6 Axis EDGE REWARDS points on every INR 100 spent up to spent of Rs. 1,50,000 in a calendar month. The value of each point is INR 0.2. The effective cashback rate is 1.2%. Users will get 17.5 EDGE REWARDS points for every RS. 100 spent post spending Rs. 1,50,000 in a calendar month. Effective cashback rate: 3.5%.
5x reward points on spending via Travel EDGE.
Up to 15% off on international and domestic Oberoi and Trident Hotels.
Other Benefits: International and Domestic lounge visits, dining delights, and offers on movie tickets.
The card also provides medical offers and benefits.
Users can enjoy up to 30% discount at over 4000 restaurants across India.
Rewards & Benifits
Welcome Benefits
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Rewards System
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International Forex Markup
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Welcome Benefits and Reward System
Special Features
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Eligibility Criteria
Primary cardholder between age of 18 years and 70 years.
Add-on cardholder should be over 18 years.
Salary of Rs.18 Lakhs per annum or Annual Income Tax Return filed for Rs.18 Lakhs.
Resident of India
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
You can apply for the Axis Bank Magnus Credit Card online or offline. Here are the steps on how to apply online:
Go to the Axis Bank Credit Card website. Search for Magnus Credit Card.
Click on the "Apply Now" button.
Enter your personal details such as your name, email address, and mobile number.
Enter your income and employment details.
Upload a scanned copy of your PAN card and Aadhaar card.
Select the credit limit you want.
Click on the "Submit" button.
An Axis Bank representative will contact you to verify your details and complete the application process.
Contact Details
1865 419 5555 & 1860 500 5555
Account Opening and Procedure
Recommended Credit Cards
Pros:-
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Cons:-
Welcome Benefit: Customers can choose any voucher worth INR 12,500 from options like Luxe gift card, The Postcard Hotels gift voucher, or Yatra gift voucher.
Rewards System: Users can earn 6 Axis EDGE REWARDS points on every INR 100 spent up to spent of Rs. 1,50,000 in a calendar month. The value of each point is INR 0.2. The effective cashback rate is 1.2%. Users will get 17.5 EDGE REWARDS points for every RS. 100 spent post spending Rs. 1,50,000 in a calendar month. Effective cashback rate: 3.5%.
5x reward points on spending via Travel EDGE.
Up to 15% off on international and domestic Oberoi and Trident Hotels.
Other Benefits: International and Domestic lounge visits, dining delights, and offers on movie tickets.
The card also provides medical offers and benefits.
Users can enjoy up to 30% discount at over 4000 restaurants across India.
High annual fee.
Low cashback rate.
High eligibility threshold of minimum annual income of INR 18 lakh.
Axis Bank Magnus Credit Card is a premium credit card from Axis Bank. It has a ton of value add features such as free movie tickets, complimentary domestic lounge visits, concierge service, zero cash withdrawal fee, etc. However, the biggest flaw with the card is that it has a very low cashback rate of 1.2%.
Axis Bank Magnus Credit Card is a premium credit card from Axis Bank. It has a ton of value add features such as free movie tickets, complimentary domestic lounge visits, concierge service, zero cash withdrawal fee, etc. However, the biggest flaw with the card is that it has a very low cashback rate of 1.2%.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
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Fuel Surcharge
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Billing Cycle
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