Axis Bank Magnus Credit Card
Verified Official Data • Last updated 2026-07
Net Value Calculator
Drag sliders to estimate this card's annual value based on your actual spending habits.
Cashback mode values points as statement credit. Travel / airmiles mode uses the card's travel redemption value, so it only changes points cards; cashback cards stay the same.
Your monthly spend
₹50,000/moE-Commerce & Online
Daily Essentials
Most cards earn ₹0 rewards on fuel (surcharge waiver only).
Frequently excluded from rewards in India.
Lifestyle, Bills & Other
Almost always earns ₹0 and may carry a fee.
Often excluded or capped.
Axis Bank Magnus Credit Card
Effective annual fee: ₹12,500
Savings & Milestones Tracker
-0.75%
Value Yield (Net / Spent)
₹-4,496
Annual Net Value
Spent ₹6,00,000 • Spend ₹19,00,000 more to waive fee.
All ₹ values exclude GST. Perks like lounge access are shown separately and not added into net value. Rewards use your selected redemption mode (cashback / statement credit).
Key Specifications
₹12500
₹12500
₹2500000
2%
Rewards Structure
Earn rates and reward configurations verified for 2026.
Applies to all non-excluded offline/misc categories
Category Earn Rates
5X EDGE REWARD Points on spends via Axis Bank Travel EDGE portal. 60 per ₹200 = 30 per ₹100.
Accelerated earn: 35 EDGE REWARD Points per ₹200 (17.5 per ₹100) on spends above ₹1.5L/month. Applies up to credit limit + additional ₹1.5L/month, then reverts to base 12/₹200.
Excluded from rewards & fee waiver: Rent, Wallet, Utilities, Telecom, Government, EMI conversions, Cash withdrawals (since Sep 2023). Insurance, Gold/Jewellery, Fuel also excluded (since Apr 2024).
Devaluation Log & History
Effective 20-Jun-2025: T&C updated. Points forfeited 30 days post card closure or if overdue >90 days (effective Oct 2025). Earning structure reconfirmed: 12 EDGE/₹200 up to ₹1.5L/month, 35 EDGE/₹200 above ₹1.5L.
Effective 20-Apr-2024: Insurance, Gold/Jewellery, Fuel excluded from rewards & fee waiver. BookMyShow BOGO, 24/7 concierge, 8 meet & assist services discontinued. Domestic lounge: conditional on ₹50K spend in previous 3 months (from May 2024). Guest visits reduced from 8 to 4/year. Miles transfer cap: 1L points to Group A, 4L points to Group B per year.
Effective 1-Sep-2023: Fees increased from ₹10,000 to ₹12,500. Miles transfer ratio changed from 5:4 to 5:2 (5 EDGE = 2 Partner Miles). Monthly milestone benefit (25,000 EDGE on ₹1L spend) discontinued. Tata CLiQ voucher discontinued. Fee waiver threshold: ₹25L (previously ₹15L for existing cardholders, transitioning to ₹25L). Excluded categories: Rent, Wallet, Utilities, Government, EMI, Cash from fee waiver.
Lounge Access
Additional Perks
Redemption & Expiry
Eligibility Requirements
Exclusion Honesty: This data has been verified against official bank publications. We include exclusions and point valuation friction factors to render honest net metrics in our calculations.
Official Specification Sheet
Comprehensive rules, fees, and parameters verified directly against issuer details.
| Feature | Axis Bank Magnus Credit CardAxis Bank |
|---|---|
| Joining fee | ₹12,500 |
| Annual fee | ₹12,500/yr |
| Fee waiver | Spend ₹25,00,000/yr |
| Base reward | 6 pts / ₹100 |
| Top reward categories | 30x travel, 17.5x other |
| Redemption friction | Moderate |
| Point expiry | 36 months |
| Lounge access | 99 dom · 99 intl⚠ Unlimited domestic lounge access (requires min ₹50,000 spend in previous 3 calendar months, since May 2024). Unlimited international via Priority Pass. 4 guest visits/year (reduced from 8, since Apr 2024). |
| Forex markup | 2% |
| Fuel surcharge | 1% waiver, up to ₹400/mo |
| Min income · salaried | ₹24.0L/yr |
| Min income · self-employed | ₹24.0L/yr |
| Eligibility (as stated) | ₹24L net annual income (salaried or ITR) |
| Recent devaluations |
|
| Verified against |
Detailed Axis Bank Magnus Credit Card Credit Card Review & Spends Guide (2026)
The Axis Bank Magnus Credit Card by Axis Bank is a prominent credit card in the Indian market, categorized under the super-premium tier. Offering a base rewards engine of 6 reward points per ₹100, this card targets users looking to optimize their personal finances.
When evaluating the real-world value of the Axis Bank Magnus Credit Card, it's essential to look beyond the joining fee of ₹12500 and annual fee of ₹12500. With our real-time calculator above, you can map out your monthly category spends (online shopping, dining, travel, utilities, groceries, etc.) to see if you can trigger the spend-based annual fee waiver of ₹2500000, which determines your true Net Annual Value (NTV).
Rewards Potential & Category Multipliers
For accelerated spenders, the Axis Bank Magnus Credit Card features key reward multipliers:
- 30x on travel spends (uncapped).
- 17.5x on other spends (uncapped).
- Exclusions: No rewards are earned on fuel, rent, insurance, utilities categories.
Lounge Access & Extra Perks
Perks add immense value that calculations often leave out. The Axis Bank Magnus Credit Card offers:
- Domestic Lounges: 99 visits/year
- International Lounges: 99 visits/year
- Lounge Condition: Unlimited domestic lounge access (requires min ₹50,000 spend in previous 3 calendar months, since May 2024). Unlimited international via Priority Pass. 4 guest visits/year (reduced from 8, since Apr 2024).
Points Redemption and Point Expiry
Earning points is only half the battle. Redemptions are subject to a friction index of 3/5 (representing Moderate/Portal redemption (3/5 friction)). Note: Redeem via EDGE portal for vouchers/products (₹99 fee) or transfer to airline partners at 5 EDGE Points = 2 Partner Miles (₹199 fee). Transfer capped at 1L points to Group A partners and 4L points to Group B per calendar year (since Apr 2024).. Points are valid for 36 months.
Who the Axis Bank Magnus Credit Card benefits the most
Derived from this card's actual earn rates, caps and perks — not a generic profile.
- People whose spending is concentrated in flights and hotels — the card's strongest rate at 30 points per ₹100, with no monthly cap stated. 5X EDGE REWARD Points on spends via Axis Bank Travel EDGE portal. 60 per ₹200 = 30 per ₹100.
- People whose spending is concentrated in other/offline spends — the card's strongest rate at 17.5 points per ₹100, with no monthly cap stated. Accelerated earn: 35 EDGE REWARD Points per ₹200 (17.5 per ₹100) on spends above ₹1.5L/month. Applies up to credit limit + additional ₹1.5L/month, then reverts to base 12/₹200.
- Households already spending about ₹2,08,333 a month on cards. That clears the ₹25 lakh annual-spend waiver and makes the ₹12,500 annual fee (₹14,750 with 18% GST) disappear.
- Frequent flyers: 99 domestic lounge visits and 99 international lounge visits a year, worth roughly ₹3,46,500 at typical Indian pay-per-use lounge rates — but read the unlock condition below before counting on it.
- People who spend abroad or buy in foreign currency online. At a 2% forex markup, a ₹2 lakh overseas trip costs about ₹4,720 in markup plus GST, versus roughly ₹8,260 on a typical 3.5% card.
- Daily drivers: the 1% fuel surcharge waiver is capped at ₹400/month, which covers roughly ₹40,000 of monthly fuel spend.
Who should avoid the Axis Bank Magnus Credit Card
The cases where this card quietly costs more than it pays back.
- Anyone whose spending is heavy on fuel, rent payments, insurance premiums, utility bills and recharges. These categories earn absolutely nothing on this card — not a reduced rate, zero. Excluded from rewards & fee waiver: Rent, Wallet, Utilities, Telecom, Government, EMI conversions, Cash withdrawals (since Sep 2023). Insurance, Gold/Jewellery, Fuel also excluded (since Apr 2024).
- Anyone who cannot reliably put ₹2,08,333 a month through this card. Miss the ₹25 lakh waiver target and the ₹14,750 renewal (GST included) lands anyway.
- Occasional users. Points expire after 36 months (3.0 years), so a slow-accumulating balance can lapse before it is large enough to redeem against the minimum redemption threshold.
- Anyone building a long-term strategy around one benefit. This card has been devalued 3 times on record — most recently in 2025-06: Effective 20-Jun-2025: T&C updated. Points forfeited 30 days post card closure or if overdue >90 days (effective Oct 2025). Earning structure reconfirmed: 12 EDGE/₹200 up to ₹1.5L/month, 35 EDGE/₹200 above ₹1.5L. Assume today's rates are not permanent.
- Anyone reading the headline points rate literally. Each point is worth only ₹0.4, so "6 points per ₹100" is really about 2.40% back in value.
- Anyone who revolves a balance. Credit card interest in India typically runs 36–45% a year plus 18% GST on the interest — that erases every reward this card can pay, on any spending pattern.
Hidden charges and fine print on the Axis Bank Magnus Credit Card
The costs that sit below the marketing page, verified against Axis Bank disclosures dated 2026-07.
GST sits on top of every fee you were quoted
The listed ₹12,500 joining fee and ₹12,500 annual fee exclude GST. You actually pay ₹14,750 up front and ₹14,750 at each renewal. The 18% GST is never waived, even when the bank waives the fee itself on spend — check your statement.
Forex markup of 2% is really 2.36%
GST at 18% applies to the markup, so 2% becomes about 2.36% in real terms. Also decline Dynamic Currency Conversion at foreign terminals: paying "in INR" adds another 3–5% on top of this.
Spends that earn zero
fuel, rent payments, insurance premiums, utility bills and recharges earn no rewards at all. Excluded from rewards & fee waiver: Rent, Wallet, Utilities, Telecom, Government, EMI conversions, Cash withdrawals (since Sep 2023). Insurance, Gold/Jewellery, Fuel also excluded (since Apr 2024). These excluded spends also frequently fail to count toward fee-waiver and milestone targets, so check the MITC before routing large payments here to "hit the target".
Points expire in 36 months
Rewards are not a savings account. Anything unredeemed after 36 months lapses silently, and banks are not obliged to remind you. Set a calendar reminder to redeem at least once a year.
Redemption fine print
Redeem via EDGE portal for vouchers/products (₹99 fee) or transfer to airline partners at 5 EDGE Points = 2 Partner Miles (₹199 fee). Transfer capped at 1L points to Group A partners and 4L points to Group B per calendar year (since Apr 2024). Redemption fees and minimum-balance thresholds are the most commonly missed cost on Indian cards — factor them in before comparing headline earn rates.
Lounge access is conditional
Unlimited domestic lounge access (requires min ₹50,000 spend in previous 3 calendar months, since May 2024). Unlimited international via Priority Pass. 4 guest visits/year (reduced from 8, since Apr 2024). Read that as a spending requirement, not a perk you already own — most declined lounge entries in India are unmet prior-quarter spend conditions.
Fuel surcharge waiver has a monthly ceiling
The 1% waiver is capped at ₹400 per statement month, and the surcharge is usually reversed as a credit in the next cycle rather than netted off at the pump. Transactions outside the bank's stated per-transaction band may not qualify at all.
Charges every Indian card carries
Cash withdrawal fees (typically 2.5% of the amount, minimum ₹500) with interest from day one and no interest-free period, late payment fees graded by outstanding balance, over-limit charges, EMI conversion processing fees and interest, rent-payment and wallet-load fees, and payment-return charges. These are listed in the bank's MITC document, not in the marketing page — read it once before you apply.
Tax implications of the Axis Bank Magnus Credit Card
Indian tax treatment of the fees, rewards and foreign spends on this specific card.
GST on fees and charges. Every fee quoted on this page excludes GST. The ₹12,500 joining fee bills as ₹14,750 and the ₹12,500 renewal as ₹14,750. GST also applies to interest, late payment fees, cash advance fees and the forex markup — it is not a one-off on the fee alone.
Are the reward points taxable? Points or cashback earned in proportion to your own spending are treated as a post-purchase discount rather than income, so a salaried individual does not pay tax on them. The same applies to the points here, valued at ₹0.4 per point on redemption. Two exceptions matter: benefits received from a business relationship (not from your own spending) can attract TDS at 10% under section 194R where the value exceeds ₹20,000 in a year, and a gift or voucher received from the bank with no link to your spending can be taxable under section 56(2)(x) if total gifts from non-relatives cross ₹50,000 in a year.
Is the annual fee deductible? Not for a salaried cardholder — it is a personal expense. If the card is genuinely used for business or professional spends, the ₹14,750 renewal is an allowable business expense under section 37(1), and a GST-registered business billed in its own name can claim the ₹2,250 GST as input tax credit.
Foreign spends, TCS and the LRS. The 2% markup attracts 18% GST, making it about 2.36% effectively. TCS under the Liberalised Remittance Scheme runs at 20% above ₹10 lakh of remittances in a financial year; international credit card spends have so far been kept outside the LRS pending notification, so no TCS is deducted at the till today. Where TCS is collected on any remittance, it is not a sunk cost — it is creditable against your tax liability and refundable through your ITR.
Spends the tax department can see. Aggregate credit card payments of ₹10 lakh or more in a financial year (₹1 lakh or more if paid in cash) are reported by Axis Bank in the Statement of Financial Transactions and show up in your AIS. That is not a tax by itself, but the spending should be consistent with the income you declare.
Eligibility and documents for the Axis Bank Magnus Credit Card
Axis Bank's stated criteria, verified 2026-07.
Eligibility
- Income: ₹24L net annual income (salaried or ITR) (as stated by Axis Bank).
- Age: typically 21 to 60 for salaried applicants and up to 65 for self-employed; add-on cards from 18.
- Credit score: a CIBIL score of 750+ materially improves approval odds on a card at this tier, where issuers are selective.
- Residency: resident Indian with a verifiable address in a city Axis Bank services.
- Relationship route: premium cards are frequently issued against an existing salary account, wealth relationship or pre-approved offer rather than a cold application.
Documents required
- Identity: PAN card (mandatory) plus Aadhaar, passport, voter ID or driving licence.
- Address: Aadhaar, passport, utility bill or registered rent agreement.
- Income (salaried): last 3 months' salary slips and 3–6 months' bank statements showing salary credit; Form 16 for the latest year.
- Income (self-employed): latest 1–2 years' ITR with computation, audited financials where applicable, and 6 months' current account statements.
- Photograph: one recent passport-size photo (often skipped in a full digital journey).
- Existing Axis Bank customers with a salary or pre-approved relationship usually skip the income documents entirely.
Nomination note: a credit card has no nominee — nomination applies to deposits and investments. What matters here is that your family knows the card exists and knows the outstanding, so it can be settled from the estate promptly instead of accruing interest and late fees after the fact.
How to apply for the Axis Bank Magnus Credit Card
- Check for a pre-approved offer first. Log in to Axis Bank net banking or the mobile app. A pre-approved journey skips income documents and, more importantly, avoids a hard enquiry on your credit report if you are declined.
- Confirm the current fee and rates on the official page before applying — banks revise these without much notice, and this card has already been revised 3 times on record.
- Apply online with PAN, Aadhaar and employment details, or walk into a Axis Bank branch if your income profile needs manual assessment.
- Complete KYC. Most issuers now offer video KYC that finishes in minutes; physical verification adds a few days.
- Confirm the credit limit before activating. A limit too small to route ₹2,08,333 a month through makes the ₹25 lakh fee waiver unreachable — ask for an enhancement up front.
- Set a full-payment auto-debit on the due date the day the card arrives. Interest of 36–45% a year plus GST is the single fastest way to turn this card into a loss.
Axis Bank Magnus Credit Card — frequently asked questions
Answers use this card's own numbers, verified 2026-07.
What is the annual fee for the Axis Bank Magnus Credit Card, and can it be waived?
The annual fee is ₹12,500 plus 18% GST, so ₹14,750 actually leaves your account. It is waived if you spend ₹25 lakh in the card anniversary year — about ₹2,08,333 a month.
How much do you actually earn on the Axis Bank Magnus Credit Card?
The base rate is 6 points per ₹100, and each point is worth ₹0.4 at the best redemption — roughly 2.40% in value. The accelerated categories are flights and hotels at 30 points per ₹100, other/offline spends at 17.5 points per ₹100.
Which spends earn no rewards on the Axis Bank Magnus Credit Card?
fuel, rent payments, insurance premiums, utility bills and recharges earn zero. Excluded from rewards & fee waiver: Rent, Wallet, Utilities, Telecom, Government, EMI conversions, Cash withdrawals (since Sep 2023). Insurance, Gold/Jewellery, Fuel also excluded (since Apr 2024). If those categories are a big share of your monthly outgo, your effective return will be well below the advertised rate.
Does the Axis Bank Magnus Credit Card offer airport lounge access?
Yes — 99 domestic and 99 international complimentary visits a year. Condition: Unlimited domestic lounge access (requires min ₹50,000 spend in previous 3 calendar months, since May 2024). Unlimited international via Priority Pass. 4 guest visits/year (reduced from 8, since Apr 2024).
What does the Axis Bank Magnus Credit Card charge on foreign currency spends?
A 2% markup, plus 18% GST on that markup, so about 2.36% effectively. On a ₹1 lakh foreign spend that is roughly ₹2,360.
Do reward points on the Axis Bank Magnus Credit Card expire?
Yes, after 36 months from the date they are earned. Redeem via EDGE portal for vouchers/products (₹99 fee) or transfer to airline partners at 5 EDGE Points = 2 Partner Miles (₹199 fee). Transfer capped at 1L points to Group A partners and 4L points to Group B per calendar year (since Apr 2024). Redeem at least annually so nothing lapses.
What income do you need for the Axis Bank Magnus Credit Card?
Axis Bank states: ₹24L net annual income (salaried or ITR). Banks treat this as a floor, not a guarantee — your credit score, existing card limits and internal risk scoring decide the outcome.
Is the Axis Bank Magnus Credit Card annual fee tax-deductible, and are reward points taxable?
For a salaried cardholder the fee is a personal expense and is not deductible. If the card is used genuinely for business or professional spends, the fee and GST can be claimed as a business expense (and the GST as input credit where the card is billed to a GST-registered entity). Reward points earned in proportion to your own spending are generally treated as a post-purchase discount, not income, so they are not taxed in your hands.
Is TCS applicable on Axis Bank Magnus Credit Card spends abroad?
Tax Collected at Source under the Liberalised Remittance Scheme applies at 20% above the ₹10 lakh annual threshold for remittances and forex card loads. International spends on Indian credit cards have so far been kept outside the LRS pending notification, so no TCS is deducted at the point of sale today. This has been changed and deferred more than once — confirm the current position with Axis Bank before a large overseas spend. Any TCS actually collected is not a cost: it is creditable against your income tax liability and refundable when you file your ITR.
What happens to the Axis Bank Magnus Credit Card account after the cardholder's death?
A credit card is an unsecured personal liability and cannot be inherited or transferred — the card must be surrendered and closed. Inform Axis Bank in writing with the death certificate; the outstanding balance becomes payable from the deceased's estate, and the legal heirs are liable only to the extent of the assets they inherit, not personally. Any add-on cards stop working immediately. Unredeemed reward points are normally forfeited on closure, so a family member holding a large balance should redeem while the account is active. Nomination applies to deposits and investments, not to credit cards — but if there is a fixed deposit backing a secured card, the nomination on that FD governs its release.
Compare Axis Bank Magnus Credit Card with…
Similar cards to the Axis Bank Magnus Credit Card
HDFC Infinia Metal Edition Credit Card review
12500 annual fee
ICICI Emeralde Private Metal Credit Card review
12499 annual fee
Union NEXTERIA Credit Card review
12499 annual fee
BOI Celestia Credit Card review
11999 annual fee
HDFC Diners Club Black Metal Edition Credit Card review
10000 annual fee
YES PRIVATE review
10000 annual fee