Key Takeaways

Magnus Credit Card is a premium card issued by Axis Bank. You can earn EDGE reward points on the Magnus Credit Card.
Magnus Credit Card offers various benefits, including dining benefits, travel benefits, insurance benefits, a fuel surcharge waiver, and a reduced foreign exchange markup.
The annual fee for the Magnus Credit Card is ₹12,500 + taxes, which is waived upon spending of ₹25,00,000 in the preceding year.

The Magnus Credit Card is a premium card designed for individuals who want exclusive rewards, travel privileges, and lifestyle benefits on their spending. The Magnus Credit Card combines luxury, convenience, and financial rewards, which makes it ideal for frequent travellers and high spenders.

Suppose Nidhi is travelling from Delhi to Udaipur. She has a Magnus Credit Card. She used her card at Delhi airport for complimentary access at Encalm Lounge, to relax, enjoy food, WiFi, and other amenities, saving around ₹2,000.

With her Magnus Credit Card, she also booked her stay at The Oberoi Udaivilas in Udaipur. On this booking, she gets an extra 15% off and a complimentary room upgrade, saving around ₹10,000. All thanks to her Axis Bank Magnus Credit Card.

In total, she saved around ₹12,000, that too on just one trip. Now, imagine how much she will be able to save in 4 or 5 such trips in a year. In this blog, we will learn more about Axis Bank Magnus Credit Card, its benefits, cashback and rewards, fees, and eligibility criteria.

Key Highlights Of The Magnus Credit Card

Magnus Credit Card comes with premium features that make it a preferred choice among high-value spenders. The following table lists the key highlights of Axis Bank Magnus Credit Card:

As a welcome bonus, you will have to choose any voucher worth ₹12,500: Luxe, Postcard Hotels, or a Yatra gift voucher.
Earn 12 EDGE points per ₹200 on regular spends, 35 points above ₹1,50,000, and 5X points on travel bookings via Travel eDGE.
Unlimited complimentary airport lounge access for domestic and international travel.
You will get discounts at various restaurants by paying with the Axis Bank Magnus Credit Card.

The above-mentioned points show that the Magnus Credit Card is ideal for a premium lifestyle and travel experiences. If you utilise these features wisely, then you can maximise value from every spend.

Benefits Of The Magnus Credit Card

The Magnus Credit Card offers benefits across travel, dining, and insurance. The following table highlights the benefits of Axis Bank Magnus Credit Card:

Benefit	Detail
Dining Benefits	Enjoy up to 30% off at over 4,000 partner restaurants.
Travel Benefits	Unlimited complimentary airport lounge access for domestic and international travel. Get special offers and discounts at Oberoi and Trident Hotels.
Insurance Benefits	Purchase Protection covers items up to ₹2,00,000, and Credit Shield protects ₹5,00,000.
Fuel Surcharge Waiver	Get a 1% waiver on fuel transactions of ₹400 to ₹4,000, capped at ₹400 monthly.
Reduced Forex Markup	Foreign transactions incur a lower currency markup fee of just 2%.

The above-mentioned benefits make the Magnus Credit Card highly valuable for regular high-value transactions. If you use this card wisely, then you can enjoy maximum rewards, savings, and convenience every day.

Bonus Tip: Do you know that with effect from 20th April, 2024, Magnus Credit Card has stopped providing BookMyShow Benefits and Airport Concierge Service.

Magnus Credit Card Cashback & Rewards

Reward points are a major attraction of the Magnus Credit Card. You can redeem them for travel vouchers, electronic items, and to pay across partner stores. The following table shows the reward points of the Magnus Credit Card:

Reward Feature	Details	Example
Base Reward Rate	Earn 12 EDGE Rewards Points per ₹200 spent on regular transactions.	Srishti spent ₹50,000 monthly using the Magnus Credit Card. She earned 3000 EDGE reward points [(50,000 ÷ 200) × 12].
Accelerated Rewards	Earn 35 EDGE Rewards Points per ₹200 on monthly spends exceeding ₹1,50,000.	Mridushi spent ₹2,00,000 using the Magnus Credit Card. So, first ₹1,50,000 = 12 points per ₹200 and remaining ₹50,000 = 35 points per ₹200, so total is 9000 EDGE reward points.
Travel EDGE	Receive 5X EDGE Rewards Points on travel bookings via Travel EDGE.	Raman spent ₹20,000 on travel booking using the Magnus Credit Card. So, he earned a total of 6000 EDGE reward points [(20,000 ÷ 200) × 12 × 5].

The above-mentioned table shows how different spending patterns earn EDGE REWARDS points. You can maximise your rewards by planning monthly spends and travel bookings strategically.

Magnus Credit Card Fees & Other Charges

Magnus Credit Card comes with an annual fee and other applicable charges. The table below summarises the fees applicable to the Magnus Credit Card:

Particular	Details
Annual Fee	₹12,500 + taxes (waived off on spending of ₹25,00,000 in preceding year).
Cash Withdrawal Charges	None
Interest Rate	3% on extended credit
Rent Transaction Fee	1% each transaction (capped at ₹1,500)
Dynamic Currency Conversion markup	1% + taxes

The above-mentioned table helps cardholders understand the cost associated with owning a Magnus Credit Card.

Eligibility Criteria For Magnus Credit Card

To qualify for the Magnus Credit Card, you must meet specific requirements. The following table shows the eligibility criteria for Axis Bank Magnus Credit Card:

Particulars	Details
Primary Cardholder Age	Between 18 and 70 years
Add-on Cardholder Age	Over 18 years
Net Salary or Net ITR Filed	₹24,00,000 per annum
Residency	Indian

The above-mentioned table highlights the general criteria required for the Magnus Credit Card; however, the bank reserves the right to decline or approve applications.

Required Documents To Apply For The Magnus Credit Card

To secure a Magnus Credit Card, you need to provide certain documents. The following are the documents required for the application:

Form 60 or PAN card
Proof of Income: Copy of ITR, Form 16, or latest payslip
Residence Proof: Landline telephone bill, electricity bill, driving license, or passport

These points show the common documents required to apply for the Magnus Credit Card; this requirement may vary depending on your case.

How To Apply For A Magnus Credit Card?

You can apply for the Axis Bank Magnus Credit Card using both online and offline methods. You need to follow these steps to apply using the online method:

Visit the official Axis Bank website offering the Magnus Credit Card.
Click on Apply Now and fill in the application form with details like name, PAN number, income, and employment details.
Upload required documents.
Click Apply and wait for verification.
If approved, you will receive the Magnus Credit Card within 7 to 10 business days.

You have seen the online method to apply for the Magnus Credit Card. Now, let’s look at the steps you need to follow to apply for the Magnus Credit Card using the offline method:

Visit the nearest bank branch using the branch locator.
Request the Magnus Credit Card application form.
Fill in all details and submit the required documents.
The bank will verify details and conduct a credit assessment.
Once approved, the card will be dispatched to your registered address.

By following the above-mentioned methods, you can easily apply for the Magnus Credit Card.

How to Redeem Magnus Credit Card Reward Points?

You have earned EDGE reward points, but you need to know how you can redeem Magnus Credit Card reward points. You need to follow this step-by-step redemption process:

Log in to the credit card portal or mobile app.
Navigate to the Rewards & Benefits section.
Select the category of redemption (Travel, Shopping, Cashback, etc.).
Choose the desired item and confirm the transaction.
The reward points will be redeemed instantly, and you will receive a confirmation.

The above-mentioned steps ensure you can quickly and effectively redeem your Magnus Credit Card reward points.

Conclusion

The Magnus Credit Card is an excellent choice for individuals who frequently travel, dine at luxury restaurants, and seek exclusive lifestyle privileges. The card combines high reward points and luxury hotel perks to offer premium benefits at a reasonable fee.

If you use the Magnus Credit Card wisely, including its rewards, lounge access, and fee waiver, you can maximise savings. This approach lets you enjoy a truly premium lifestyle experience.

For those seeking a prestigious credit card that combines elite privileges with premium rewards, the Magnus Credit Card stands out as an ideal option.

FAQs

1. What is the world's most powerful credit card?

The American Express Centurion Card, also known as Black Card, is often considered the most powerful credit card due to its exclusive privileges, high credit limits, and luxury travel benefits.

2. Is Axis Bank Magnus a metal card?

Yes, the Axis Bank Magnus Credit Card is made of metal, giving it a premium look and feel.

3. Does the Magnus Credit Card allow contactless payment?

Yes, the Magnus Credit Card supports contactless payments for faster and more convenient transactions.

4. How do I cancel my Axis Magnus credit card?

You can cancel your card by calling Axis Bank customer care or visiting a branch, ensuring all outstanding dues are cleared.

5. Is it better to close a credit card or leave it open with a zero balance?

Generally, keeping the card open with a zero balance is better for your credit score, as it maintains your credit history and credit utilisation ratio.

6. Who is the highest credit card holder in India?

As per Guinness World Records, Manish Dhameja has 1,638 credit cards, which makes him the highest credit card holder in India.

7. How to get a JP Morgan reserve card?

The JP Morgan Reserve Card is an invitation-only card for high-net-worth individuals, typically requiring a significant banking relationship with JP Morgan.