Is Axis Magnus worth the ₹12,500 annual fee?

Axis Magnus has an annual fee of ₹12,500. The fee can be waived if you spend rs 25l in preceding year (excludes insurance, gold, fuel spends). With a base reward rate of 1.2% (up to 6%), unlimited domestic lounge visits, and a CardTrail Score of 7.4/10, it may suit specific spending patterns.

What is the reward rate on Axis Magnus?

Axis Magnus offers a base reward rate of 1.2% on regular spends, going up to 6% on select categories. Rewards are earned as EDGE Reward Points. New cardholders also get a welcome bonus of Choice of one voucher worth Rs 12,500: Luxe gift card, The Postcard Hotels voucher, or Yatra voucher (redeemable after first spend via SMS link).

Does Axis Magnus have airport lounge access?

Yes, Axis Magnus provides unlimited domestic and unlimited international lounge visits per year.

What is the forex markup on Axis Magnus?

Axis Magnus charges a 2% forex markup on international transactions, plus 18% GST on the markup (effective rate: 2.36%). For international spends, consider zero-forex alternatives like Scapia or IDFC First Wealth.

Axis Magnus vs HDFC Diners Club Black — which is better?

Axis Magnus (CardTrail Score: 7.4/10) and HDFC Diners Club Black (Score: 9.1/10) are both super premium cards. Axis Magnus by Axis has a ₹12,500 fee with 1.2% base rewards, while HDFC Diners Club Black by HDFC has a ₹10,000 fee with 3.3% base rewards. Use our comparison tool for a detailed side-by-side analysis.

Super Premium

Axis Magnus

Axis

7.4

CardTrail Score

Very Good

out of 10

Net Value

9.6

Accessibility

5.0

Feature Depth

5.0

Bank Trust

8.0

How we score →

Compare This Card Full Details

Annual Fee

₹12,500

Spend Rs 25L in preceding year (excludes insurance, gold, fuel spends)

Forex Markup

Reward Rate

1.2%

Up to 6%

Lounge Access

Unlimited

domestic | Unlimited intl

About This Card

The Axis Magnus is a super-premium Visa Infinite credit card currently in its fourth major revision after devaluation rounds in September 2023, April 2024, June 2025, and April 2026. Post the April 2026 reset, standalone cardholders transfer EDGE Miles at 5:1 (down from 5:2) and have lost Accor ALL, Marriott Bonvoy, and Qatar Airways as transfer partners. The card retains its Rs 12,500 annual fee (Rs 25 lakh spend waiver), domestic lounge access gated on Rs 50,000 quarterly spend, and a welcome voucher worth Rs 12,500. Burgundy Private account holders receive a better 5:2 transfer ratio on the Magnus for Burgundy variant.

Pros & Cons

Pros

Domestic lounge access still unlimited above the Rs 50,000/3-month spend gate
2% forex markup competitive with HDFC Infinia (3.5%) and Axis Reserve
Rs 12,500 welcome voucher offsets most of the first-year fee
Burgundy Private upgrade path retains stronger 5:2 transfer ratio
8 international lounge visits/year via Priority Pass

Cons

Rs 12,500 annual fee hard to justify below Rs 1 lakh/month spend
Accor, Marriott, Qatar removed as transfer partners (April 2, 2026)
Standalone transfer ratio cut to 5:1 — roughly half the redemption value
Monthly milestone bonus (25,000 EDGE points on Rs 1L) removed September 2023
Reward-tracking switched from MCC to internal Axis categories (June 2025), reducing predictability
Rs 24 lakh annual income eligibility — raised from Rs 18 lakh in April 2024

Fee Details

Annual Fee

₹12,500

Joining Fee

₹12,500

Fee Waiver Condition

Spend Rs 25L in preceding year (excludes insurance, gold, fuel spends)

Fuel Surcharge Waiver

Yes

EMI Conversion

Yes

Reward Structure

Base Rate

1.2%

Max Rate

Currency

EDGE Reward Points

Welcome Bonus

Choice of one voucher worth Rs 12,500: Luxe gift card, The Postcard Hotels voucher, or Yatra voucher (redeemable after first spend via SMS link)

Lounge Access

Domestic Lounges

Unlimited

International Lounges

Unlimited

Key Highlights

Domestic lounge access (spend-gated Rs 50,000 every 3 months from May 2024)
8 international lounge visits per year via Priority Pass
Welcome voucher worth Rs 12,500 (Luxe, Postcard Hotels, or Yatra)
Up to 6% accelerated rewards on TravelEDGE (capped at Rs 2 lakh/month)
EDGE Miles transfer to 4 airline partners (British Airways, Finnair, Vietnam Airlines)
2% forex markup — competitive in the super-premium category