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Axis Magnus Credit Card Review – August 2022 Update

Axis Magnus Credit Card

Axis Bank had launched the Axis Magnus credit card sometime in 2019 and it remained a mediocre card back then. However, recent changes that Axis has done with the Magnus credit card’s benefits and simultaneous devaluation of the HDFC Infinia and DCB has made Axis Magnus a very good card to hold. In this article, I will list down my views on the Axis Magnus credit card and a comparison with HDFC Infinia and DCB, to see if Magnus is really better than Infinia/DCB.

Axis Bank added various transfer partners (airlines and hotel chains) to Magnus credit cards in August 2022. This one step has made Magnus probably the best credit card in India at the moment.

Axis Magnus Credit Card

Axis Bank Magnus credit card

Apply for Axis Magnus Now!

Fees and Eligibility:

  • Joining fees and annual fees are INR10,000 + GST. Fee waived at annual spends of 15lakhs

Rewards and Benefit:

  • Joining Benefit:
    • Joining benefit of 10K Tata Cliq voucher or 10k worth domestic flight ticket.
    • This is applicable on renewal too, provided the annual fee is paid.
  • Recurring Benefits:
    • BOGO on BMS up to Rs. 500 off on the second ticket for a maximum of 5 movie/non-movie bookings in a month.
  • Reward Points:
    • Standard Reward Rate: 12 reward points on every INR200 spent. 1 Reward point = 0.20 paisa (1.2% reward rate).
    • Accelerated Reward Rate: 5x reward points (i.e. 60 RPs) on every INR200 spent on travel spending via Travel Edge (6% reward rate). A monthly cap of 10K points.
    • Milestone Reward Rate: 25,000 RPs worth INR5,000 on monthly spends of INR1Lakh (i.e. 5% reward rate)
  • Lounge Access:
    • Domestic: Unlimited complimentary domestic lounge access to primary and add-on card members.
    • International: Unlimited complimentary lounge access to the primary cardholder. 8 guest visits are allowed in a year.
    • Airport Concierge Service: 8 complimentary end-to-end VIP services at the airports within India.

My views on Axis Magnus credit card

The Axis Magnus credit card has been in existence since 2019. However, given the low reward rate of 1.2%, high annual fee (10K) and very high fee waiver threshold (15Lakhs) the card remained very mediocre. However, Axis Bank has made some changes in the reward program making the card quite interesting. The changes are

  • Monthly Milestone Benefits: 25,000 RPs worth INR5,000 on monthly spending of INR1Lakh (i.e. 5% reward rate). This one change alone increases the reward rate on the card from 1.2% to 6.2%. Only wallet spends are excluded in the calculations.
  • Accelerated Reward Rate: 5x reward points (i.e. 60 RPs) on every INR200 spent on travel spending via Travel Edge (6% reward rate). Thru its Travel Edge portal, travel bookings will earn a 6% reward rate
  • International lounge access: Unlimited international lounge access via Priority Pass for the primary cardholder.
  • Airlines and Hotels loyalty program as transfer partners: Axis has introduced a range of transfer partners at a very lucrative conversion ratio (5:4). At this conversion ratio, one can easily score up to 8 business class tickets to Singapore.

The introduction of a monthly milestone benefit equivalent to INR5K significantly changes the reward rate of the card to 6%+. Further, since all spending is included, except wallet load, one can seriously think of using this card as a primary card as long as monthly spending is above 1lakh. This can be a boon for people running high utility (read electricity) and fuel bills every month.

Another feature of this card, the airport concierge service in Indian airports can be useful for people who travel frequently with heavy luggage or in large groups.  For normal travel, I don’t think this service makes any difference.

One another feature that is unique to Axis Magnus is BOGO on BMS for up to 500 for a maximum of 5 movie/non-movie bookings in a month. This is saying that you can literally go to movies every week at 50% off. This feature sounds great on paper, but I feel is impractical in practice, as very few cardholders will tend to watch movies/theatre every week religiously.

Miles transfer can give 8 business class tickets to Singapore: Recently, Axis Magnus announced many transfer partners for most of its card range including Axis Magnus. The outcome of this change is Axis Magnus can potentially give you 8 business class tickets to Singapore on Singapore Airlines.  A business class ticket to Singapore in Singapore Airlines starts from 43k miles.

The details of transfer partners and conversion ratio is given below:
Axis Magnus Transfer Partners
The magnitude of this change is such that even if you don’t use Axis Magnus for its 5x rewards and run a monthly bill of just 50k, you will get more airmiles than HDFC Infinia/DCB on similar spends.  Below is the table that gives approx. miles you earn on Axis Magnus vs HDFC Infinia/DCB at various spend levels.
Axis Magnus Indicative Miles Earned

Axis Magnus vs HDFC Infinia vs HDFC Diners Black

Since the devaluation of HDFC cards and the tweaking of benefits on Axis Magnus happened at the same time, it’s quite obvious for everyone to compare these cards.

I also compared these cards, since I own a DCB and the devaluation has been quite sharp on DCB. If one goes by the monetary value of reward points, then Axis Magnus is a notch below HDFC Infinia and DCB.

However, if one takes into account the miles conversion (assumed transfer to Krisflyer in the calculator) Axis Magnus stands heads and shoulders above HDFC Infinia/DCB.

If you only consider the monetary value of points then HDFC twins are still a notch better than Magnus. However, the moment you bring into the picture the miles conversion, Axis Magnus beats nearly every other credit card by a big margin. In the calculator above, I have incorporated both- monetary value and miles conversion.

In addition, since the conversion ratio is too good to be true. Even if you consider that Axis Magnus’s eventual devaluation to 5:1 from a 5:4 ratio; Magnus’s conversion ratio still will very be similar to that of HDFC Infinia/DCB.

Not to mention the highlight of Axis Magnus credit card – its clean reward structure. You spend, you get a 1.2% base reward rate and if you spend more than a lakh in a month, you get an additional 5% reward rate. The challenge with HDFC cards is that the 5x/10x program has now become 2x/3x/5x/10x, making it difficult to remember the reward rate you will eventually get.

Strategy for transferring points on Axis Magnus

Axis TravelEdge platform is not yet stable. It shows very weird conversion ratios. For someone, it shows a 10:1 ratio and for a few, it shows a 5:1 ratio. Thus let Axis Bank iron out these glitches before transferring the points.

My fear is that the conversion ratio is too good to be true. Thus, keep transferring your points at regular intervals and don’t really wait for some bonus transfer offer. Enjoy till the party lasts.

Expect some sort of devaluation soon. A-la RBL Zomato Edition credit card types. It may be in the form of a change in conversion ratio, exclusion of certain spends (rent, insurance, fuel etc) towards monthly bonus points or simply in form of a reduction of bonus points (say from 25k to 10k).

Features where Axis Magnus outscores HDFC Cards

There are a few features that make Axis Magnus stand out in comparison to HDFC twins. Have listed them below

  • No 70% rule: HDFC cards has this rule that allows only 70% of the booking amount can be set off against points. Axis Magnus as of now has a clean structure. The entire reward balance can be taken as a statement credit at a 20paise rate.
  • Airport concierge service: While this is nothing more than a glorified porter service at airports, the probability that I will use this is higher than the complimentary golf rounds that HDFC cards offer.
  • 5×500 BOGO on BMS: This is a useful offer that will be used at least once a month for sure if not more. Especially now given that Covid is nearing an end 🤞. Maybe adding INR 6000 in Magnus’s annual reward rate. DCB does give monthly 500 BMS vouchers on milestone spends but nothing such is available on Infinia.
  • Number of transfer partners: Axis Bank now has 12 transfer partners against 3 for HDFC Infinia/DCB.

Should you apply for Axis Magnus?

When I first wrote about this card in February, I said that I won’t apply for Axis Magnus as yet. The reason being I was chasing HDFC to upgrade my DCB to Infinia. I was very hopeful of scoring that upgrade. However, HDFC gave neither the upgrade nor any limit increase. Thus, I ended up taking Axis Magnus in May 2022. The logic was since my spending cross 1lk+ a month 2-3 times a year my reward rate on DCB and Magnus will be more or less the same (6-8%). So better, take Magnus and keep DCB until renewal.

With the introduction of new transfer partners on Axis Magnus, the dynamics have changed completely and Axis Magnus is sure to become the most sort after credit card in India. Sort of vindicating my decision.

Should you apply too? If you are in the airmiles game, the answer is straight yes. No second thoughts about it. If you are after the monetary value of points then only apply if you run a monthly bill of 1lk+. If you are not in these 2 camps, use the dynamic calculator and see where you get better returns.

Apply for Axis Magnus Now!

Conclusion

Axis Magnus with its revised benefits and transfer partners is now probably the best credit in India for frequent travellers.

What do you think of Axis Magnus given the recent changes? Will you apply for it? Do you think Axis Bank is replacing HDFC Bank as the best credit card issuer in India? Do share your thoughts in the comment section below.

Photo by Martin de Arriba on Unsplash

Disclaimer

In the interest of full disclosure, Credit Cardz may earn a referral bonus for anyone that’s approved through some of the links in this post. However, opinions and views expressed here are of the author's alone and not those of the bank, credit card issuer, or anyone else and have not been reviewed, approved or otherwise endorsed by any of these entities.

58 Comments

  1. Amrish

    Couple of points:
    1. In your calculations, you’ve taken 1.2% for amazon/FK for Magnus. It could be 6% if done through vouchers, specially since there are no limits like in Infinia/ dcb
    2. While you’ve mentioned 70% RP utilization for Infinia/ Dcb, it doesn’t get factored in the calculations. It’s a big difference IMHO. The way I do it for myself is to consider value of RP as 70p. I think it gives a more fair comparison, maybe something to consider

    • Comment by post author

      CreditCardz

      Hey Amrish
      thanks for your comments – below are my thoughts
      1. there are limits for vouchers on Axis card too – someone had shared a screenshot on my twitter profile showing that more than 10k Amazon vouchers are not allowed (https://twitter.com/niteshladia/status/1429118789812047883).Happy to be corrected here.

      Further, Amazon vouchers can be used for most utility bill payments – so I can probably earn 10-15% on utility bill payment thru Infinia/DCB against 6% on Magnus.

      2. About the value of points, what you say is correct when you have say 50k points and have booking of 50k to be done. But in case you have 30k points and 50k booking, then you very well get value of 1 per point. Modelling these scenarios can make the model very complex and prone to error.

      • Saiki

        When I looked up Amazon vouchers on their Gyftr Edgerewards portal, they are giving Accelerated RP for Amazon voucher, only base rewards

      • Harshit

        Hi,

        Since the recent devaluation of HDFC DCB, I have been hoping to score an upgrade to HDFC Infinia but that has not happened. I have reached out multiple times to my RM but to no avail. In spite of having a credit limit of ~15 lakhs, I have not been able to get my hands on Infinia.

        I already hold SCB Ultimate (both Visa and MC variant), Axis Ace, Yes First Exclusive and IDFC Wealth among other cards.

        I am now thinking of applying for Axis Magnus considering the benefits. My typical spend on credit card during the month ranges between 80k to 110k. This include rent payment of approx. 55k. Does it make sense for me to apply for Axis Magnus? Will I be able to get benefits on rent and insurance payments?

        • Comment by post author

          CreditCardz

          Hey…as of now Magnus does give points on insurance and rent payment. They are also included towards the monthly bonus calc.

          As far as does Magnus suits you, you can use the calculator in the post to see where you get more points.
          Further, you need to also introspect as to what you need. Monetary benefits or the airmiles/hotel loyalty points.
          This is very important point. Otherwise you may have many airmiles but find yourself not using it at all.

          • Harshit

            Thanks for the prompt reply.

            What are plans with DCB? Given the recent devaluation of the 10x rewards program, I was thinking of holding it till my next renewal and then downgrading to a Millenia or Regalia. Let me know you thoughts and plan of action.

          • Comment by post author

            CreditCardz

            I am also holding to my dcb. But probably will give it a slightly longer rope. Reason being, this Axis Magnus thing is too good to be true. Something has to give up. Either the conversion ratio or the earning potential. So when it happens, i need another card to fall back upon and that is where dcb will come in play again.

      • ravi arya

        Hi,
        How can I earn 10-15% on the utility bill payments using DCB.

        • Comment by post author

          CreditCardz

          it was using Amazon vouchers bought from SmartBuy. However, vouchers from Smartbuy now carry a service charge. Plus for many users Amazon does not allow users to pay utility bills using Apay balance. So the avenues are reducing at a fast pace. If this method works for you, you can get ~8-10% on DCB, after the service charge of SmartBuy.

  2. Amrish

    Agree on both counts, but:
    1. By limit on voucher, I meant the daily and monthly limits hdfc has on SmartBuy. That’s not there with axis. Otherwise the 10k for amazon/ FK is same for both
    2. Agree it will make it complex and very subjective, but should keep in mind that RP < 1, difficult to put an exact value
    Anyway, all 3 are great cards. Just in my mind now the ranking is DCB<Magnus<Infinia. Best to keep Magnus + Infinia together if spends justify 🙂

  3. Akshay

    One should calculate based on 5 lac usage,then you will find DCB is not great anymore at all.I am still keeping this since its LTF,else would hv surrendered,no point in paying 10k for DCB now!!!

    • Comment by post author

      CreditCardz

      Hey Akshay.
      The calculator shared above is dynamic and you can change the monthly spends to around 42k to reach 5lk annual spends. Enabling you to check for yourself what level of returns you are getting on it.

  4. vaibhav89910@gmail.com

    Can’t get magnus cause of 10k fees it not for everyone obviously.. in the future like 2 to 4 year may be

  5. Shreyansh Soni

    Couple of points to add
    1. Magnus is comparatively easier to get as you just should have min 3lac credit limit on other cards on card to card basis
    2. Instead of giving value of 1rs to dcb and infinia reward points, it should be around 70ps or less as the hotel and flight prices are most of the times overpriced and you can almost anytime get 10 to 15 % discount on flights and 25% or more discount on hotel bookings

    A better option would be comparing the points redemption for amazon vouchers instead which would bring down the point value of dcb and infinia by around 30%
    This would bring at least dcb and magnus at a level and then freedom to spend anywhere for 1lac spend on magnus would give it an edge over dcb imo

    • Comment by post author

      CreditCardz

      Great inputs Shreyansh.
      My reservation against Magnus stems from the point that you need to spend 1lakh every month like a treadmill to extract value out of it.
      Unless someone is into Mfg spends or passing business expenses on personal card, this level of spend is just not possible.

      I dont run a bill of 1lk every month on all my cards put together. So for me it just doesn’t make sense.

      • Shreyansh Soni

        True
        Maybe we can term magnus as best super premium card for Non travellers (For those who travel not more than 2 3 times a year like myself 🤭)

      • ROUTRAY

        This is the reality which many people are unable to understand and realise . Another thing is reward tracking system of HDFC is far better than Axis . Many are not getting points/cashback from Axis cards on time , one has to escalate every month to get accurate points/cashback posted . This is the worst thing Axis has , products are too good to be true but in reality you lose your time and patience to get those points/cashback on accurately and on time .

  6. Jaya

    can i buy amazon vouchers from GIFT EDGE( https://www.gyftr.com/edgerewards) with the magnus card for 5x edge rewards

  7. Shreyansh Soni

    Hey
    I got this card around 15 days back and to my surprise the sale discounts on amazon and flipkart for axis credit cards are not getting applied on this card
    The same card discounts are getting applied on my flipkart and ace card without any issue
    I initially thought this of some technical issue but after complaining till the nodal officer i was informed today that the card discounts on merchant’s like amazon, flipkart and others won’t apply on this card as this card is excluded from those offers
    I have checked all the terms and conditions on amazon and flipkart (During the sale period) and there was only one exclusion on flipkart for flipkart axis card of 5% discount instead of 10% which is fine
    Can you please confirm whether anyone else is facing this issue or is it just some technical issue with my card?
    And if it’s true then this will be a major downside for this card!

    • Shreyansh Soni

      Update: Tried booking a flight today at makemytrip using axis’s discount code MMTWEDCREDIT
      After entering the magnus card number and clicking on continue the page shows ‘The offer is only valid on Axis Credit Cards’
      I think axis has not shared the card’s bin number with merchants either inadvertently or they just dont wanna give offers on this card

      • Comment by post author

        CreditCardz

        Hey Shreyansh i suggest that you get your card replaced. The situation you are facing seems odd.
        Would have suggested getting an addon instead, but Axis is not issuing those as of now.
        So the best thing is to place a request for card replacement and hopefully then you won’t face such issue

        • Shreyansh Soni

          I asked this issue to sid from cardexpert and he told that the problem indeed exists and they likely missed to update the visa bin numbers
          And a few other people are also facing the same issue
          Can you please check it once
          You can check it on cred as the 10x edge reward points on travel offer is ongoing there and is also not getting applied

  8. shila212

    What about 10x/20x points on Traveledge or/20x rewards on Amazon that Axis regularly runs. The reward points have no cap. With 1l spend that translates to 29% cashback in that month easily from Amazon.

    • Bhargav

      This is indeed a wonderful card.

      Does anyone has an idea about how much maximum accelerated reward points one can earn per month on axis grab deal, axis gift edge and axis travel edge?

  9. Anand

    I have both Infinia and Magnus. After spending 1 lac on Magnus per month should i switch to using Infinia for maximum benefits?

    • Comment by post author

      CreditCardz

      Hey Anand thats a decent plan and you can stick to it

      However, my 2 cents is tabulate your spends of the last 4-6 months and see where you would have earned the highest reward rate keeping in mind the monthly target of 1lac on Magnus. This way you can probably juice out another 1-1.5% reward rate on your cards.

      Let me know if you need any help with this. Will be happy to help.

  10. Varun

    Didn’t find any mention of 20paise per reward point as statement credit on their website. Can you share source ?

  11. Vin

    Well written article! I got a Magnus post your blog but later found out a limitation on this card so thought to let know you a ‘hidden’ T&C
    You’ll only receive maximum of 6000 edge reward points per transaction on this card, that means transaction limit of ₹1,00,000. This could be applicable to other Axis card too, but not sure.
    E.g. if you make a transaction of ₹1,50,000 you’ll be credited with 6000 reward points instead of 9,000.

    Made a transaction of 120K but received 6000 points instead of 7200. Raised to Axis customer care, which we know are most useless in the industry. Front-end support says you should get 7200, back-end team closes issue saying 6000 is the limit without citing any T&C.

  12. Sid

    Doesn’t it make sense to get it anyway since they’re giving Tata Cliq voucher/Flight ticket worth 10k as Welcome/Annual benefit? I mean net you’re paying just the GST on top of the membership charges, right?

    • Comment by post author

      CreditCardz

      Tata cliq vouchers are no longer available. Now you get only the 10k air tkt.
      Thats one way to think about it, but its just your money moving from one pocket to another. So not sure what you gain.
      However, given the continuous devaluation of DCB, the card i own. I am seriously thinking of taking this card.

  13. Vaidy

    Does Magnum still give points for rent payment? I heard it no longer does… I would at least like to know if it at least counts for the 1 lac bonus points per month

    • Comment by post author

      CreditCardz

      On magnus you get points for rent payment.
      Axis ace and flipkart no longer gives.

      • Abhishek Laddha

        Axis Ace never had points , it always gives cashback ( flat 2 % for all and 5% for bill payments )

  14. I think a major reason that the card doesn’t appeal to me, which hasn’t been mentioned by you, is the poor redemption options. Almost all redemptions are 1:5 ratio, except PVR; unlike Amex which gives you a higher rate for Taj and even Marriot conversions.

    • Vicki09

      But from Magnus edge portal now you can transfer your edge points to krisflyer in 5:4 ratio which is huge!! ( best card for travelers right now)

      • Comment by post author

        CreditCardz

        True. the recent updates changes the dynamics for this card.
        Now even if you dont do 1lk spends per month and do only say 50k spends, you can get 2.5% value (assuming 50p value for 1krisflyer mile). Which is every good.
        If this 50k spends has some spends on GrabDeals then your reward rate will be higher. Will update the excel working in a day or two with this.

  15. karthik

    Can one pay insurance premiums with this card? If so does it count towards i) points on the spends and ii) the 1 lac milestone reward?
    Thanks

  16. Rohit

    What about the axis bank reserve card?

  17. Anuj Bhavsar

    What’s “10,000 Monthly Bonus RPs”?

    I haven’t found anything about it

    • Comment by post author

      CreditCardz

      Its there. On Grab deals, when you select an offer, say Jockey offer. Below there is ‘Know More’ button. If you read that it says maximum 10k edge rewards points in a month.

  18. Vaibhav

    is NPS tier 1 upto 50k covered in milestone benefit

  19. vaibh

    Does airport greet service gives some relief from long queue

  20. vaibhavaggarwalcfaaibhav

    Have applied 2 days based on card to card basis. They will give verdict in few days. The main aim is easy diner tieup and airport greet offer and once in a while 1 monthly milestone of 1 lac

  21. harsh

    i think it makes sense to quickly get this card and spend 1 lac and get 25k points = 25k as per conversion rate . Cool 25% returns and can get u 1 day stay in premium hotels of ITC

    • Comment by post author

      CreditCardz

      If you can please explain how you arrived at 25k(25% returns) value will be helpful.
      I am not able to get that

      • Yash

        Can you tell if there are any limits to maximum points on giftedge platform?
        Because i couldn’t find any limits on giftedge faq page.

  22. harsh

    Kindly have the website on a better hosting platform as many times there are errors which can turn away visitors. Thank you.

  23. Harsh

    card approved in a week. Lets see how the airport meet and greet service goes at IGI

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