Axis Bank has been making some good moves in the credit card space. In the entry segment, we have two excellent cashback credit cards Flipkart Axis and Ace. We have Magnus and Reserve in the premium segment with travel and lifestyle benefits. Axis Bank has added milestone rewards with miles transfer to the Magnus, making it a compelling offering. I recently got the Axis Magnus and have been using it for some time. Here is my hands-on review of the Axis Bank Magnus credit card.
Eligibility
For fresh applications, the required salary or ITR is Rs 18 LPA. If you already have an existing Axis Bank credit card, you can upgrade to Magnus provided the limit on your card is more than Rs 3 Lakhs.
C2C Applications for Axis Magnus
You can also choose to apply for the Magnus on a C2C (Card to Card) basis with another bank’s credit card having a limit of more than Rs 4 Lakhs.
Fees and Charges
| Joining and Annual Fee | Rs 10000+GST ~Rs 11800 |
| Welcome and Renewal Benefit | Complimentary Economy Domestic Flight Ticket OR Rs 10000 Tata CLiQ voucher |
| Annual Fee Waiver | Rs 15 Lakhs spend |
I prefer the Tata CLiQ voucher as the welcome reward over the economy domestic ticket. The economy ticket also comes with a few restrictions like it cannot be modified once booked. The Tata CLiQ voucher can be added to the account and used in parts for multiple orders.
We can get Tata CLiQ vouchers at a 10% discount when purchased from other portals. So, we can consider the effective value of the voucher to be Rs 9000. So, we end up paying Rs 2800 as the effective annual fee for the Magnus. Not bad, considering the rewards we get.
Rewards
- All Spends (Except Wallet): 12 EDGE RP/Rs 200 ~1.2% to 4.8% Return
- Travel Edge: 60 EDGE RP/Rs 200 ~6% Return
- Milestone Benefit: 25000 EDGE RP on spending Rs 1 Lakh in a month ~5% to 20% Return
- Each EDGE Reward is worth 20 paise when redeemed for vouchers. But, points transfer will yield a better value.
- Fuel transactions will accrue EDGE Rewards if a surcharge waiver is not applied to it
- Rental transactions will NOT be considered as eligible spends for monthly milestone benefit and annual fee waiver.
The rewards for spending Rs 1 Lakh in a month come to 6.2% if we redeem vouchers! This is great for heavy spenders and not many premium cards come close to this. But, there is a better use for the reward points if you are into Airmiles and hotel loyalty programs. More on this in rewards redemption.
TRAVEL EDGE is Axis Bank’s version of HDFC Bank Smartbuy where we can book flights and hotels. Magnus gets 5X reward points for TRAVEL EDGE bookings. We also have Grab Deals for earning accelerated EDGE Rewards. Grab Deals is similar to HDFC Bank Smartbuy but comes with more merchants. We have Flipkart, Amazon, and Instant Vouchers where we can get higher rewards on transactions. Bonus EDGE reward points on Grab Deals are capped at 10000 points per month.
All spending except rental transactions and wallets are considered for milestone rewards. The 25K EDGE Reward milestone is valid from the month the card is issued.
Rewards Redemption
EDGE Rewards can be redeemed from the Axis Bank EDGE REWARDS portal. We have different options including products, gift vouchers, and Airmiles transfers as well. Both Amazon and Flipkart gift vouchers are available. In all cases, the value for each EDGE reward is 20 paise.
Transfer Axis Bank Magnus EDGE Rewards to Airlines/Hotel Partners
Axis Magnus earns a standard rate of 4.8% Airmiles/hotel loyalty points on transactions. This is more than the 3.3% that HDFC Bank offers on DCB/Infinia cards.
Out of these transfer partners, Turkish Airlines (for Air India) and Vistara will be useful for domestic travel. One interesting fact is that Magnus earns CV points at a much faster rate than Vistara’s own Infinite credit card. So, if you travel on Vistara then Magnus can be a better option for earning CV points.
| TRANSFER PARTNER AND PROGRAM |
CONVERSION RATE EDGE REWARD POINTS: PARTNER POINTS/MILES |
|---|---|
| Air Asia – airasia rewards | 5:4 |
| Air Vistara – Club Vistara | 5:4 |
| Ethiopian Airlines – ShebaMiles | 5:4 |
| Turkish Airlines – Miles and Smiles | 5:4 |
| ITC – Club ITC | 5:4 |
| Air France-KLM – Flying Blue | 5:4 |
| Etihad Airways – Etihad Guest | 5:4 |
| IHG Hotels & Resorts – IHG One Rewards | 5:4 |
| Marriott International – Marriott Bonvoy | 5:4 |
| United Airlines – United MileagePlus | 5:4 |
| Singapore Airlines – KrisFlyer | 5:4 |
| Qatar Airways – Privilege Club | 5:4 |
| Spicejet – SpiceClub | 5:4 |
Unlimited Complimentary Airport Lounge Access
Axis Magnus cardholders get unlimited international lounge visits with Priority Pass. We also get 8 complimentary visits for guests. But the catch is there is no separate priority pass like Infinia. The guest access is valid only if the primary card member is accompanying them.
Unlimited domestic lounge access (for primary and add-on cardholders) is also available. The access is directly on the Axis Magnus credit card on this list of lounges. We can even use the Magnus Priority Pass in domestic airport lounges without any charges.
Complimentary EazyDiner Prime Membership
Axis Magnus credit card does not list down EazyDiner Prime membership as a benefit but we get it on this HNI card. EazyDiner Prime is a birthday benefit that was introduced on the Magnus in November 2022.
We get the EazyDiner Prime membership automatically on the mobile number that is linked to our credit card around a week before the cardholder’s birthday date. So, if you log into EazyDiner with that mobile number, you will see the Prime membership. No activation code or email required.
Airport Concierge Services
Axis Magnus also offers 8 complimentary VIP Assistance Services more commonly known as ‘Meet and Greet’. The services include assistance across airport processes, such as check-in, security check, immigration processes, and porter services. This limit is per calendar year.
BookMyShow Offer
We get buy one and get one free up to Rs 500 for 5 times per month. If you are a movie lover, this is one offer that will excite you. 🙂
Dining Delights
In this, we get a minimum of 15% off on partner restaurants when dining in. Refer to the official Axis Bank Dining Delights website for a list of restaurants and applicable offers.
Axis Bank Magnus vs HDFC Bank Diners Club Black and Infinia
Axis Magnus credit card has shaped up to be quite a good competitor to HDFC Bank DCB and Infinia offerings.
For someone who is into transferring reward points to airlines and hotel loyalty programs, Axis Magnus is a far better deal than anything else right now. Here is a calculator that will help you decide which one offers better value for your spending.
Final Thoughts
Axis Magnus has been in the market for some time now. But, the recent changes that Axis made have made it a card worth applying for. The 6.2% return on Rs 1 Lakh spent is generous and the accompanying benefits are great as well. This is a worthy super premium credit card to try out!
Even if we use Magnus just for regular spending and spend more than Rs 1 Lakh in a month, it is a good option for Airmiles enthusiasts. The conversion rate from EDGE RP to partner air miles/points is lucrative. So, keep transferring those points at regular intervals before any devaluation happens.
- Monthly Spend: Rs 1 Lakh
- Regular EDGE Rewards: 12 RP/Rs 200 ~6000 EDGE Rewards
- Bonus EDGE Rewards: 25000 RP for Rs 1 Lakh spend
- Total EDGE Rewards: 31000 RP
- Earned Partner miles/points: 24800! a whopping 24.8% reward rate
This is an amazing 24800 miles on Rs 1 Lakh spent and rivals even HDFC Bank Smartbuy! We can even use Travel EDGE and Grab Deals to earn accelerated EDGE RP. This can take the earn rate even higher.
