Axis Magnus
KeepOrdinary below ₹1.5L a month. Above it, India's hardest-earning transferable points.
a year at ₹40,000 a month, after the fee
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Welcome: ₹12,500 voucher — Luxe, Postcard Hotels or Yatra
Priced on the everyday mix — 30% groceries · 10% utilities · 20% travel · 6% fuel · 34% everything else — with this card's published category rules applied: it earns nothing on utilities and fuel here, so that spend is dropped, not paid at the headline, and stops pacing milestones and the waiver. Plus milestones, minus the fee. No accelerator credit — the ranking model on /compare adds ~20% of spend at the card's best accelerator, so its ₹ for this card reads higher.
How these numbers are computed — and why the rankings show a bigger one →
Spend tiers, milestones and fee waivers included, at our house ₹/point. Portal and category multipliers can push higher — run your exact number →
Pays for itself at ₹52,000 a month
At ₹52,000 a month — ₹6,24,000 a year — on the everyday mix this card returns ₹12,600 gross (earn ₹12,600) against its ₹12,500 fee = ₹100 net — the first rung at or above ₹0. The ladder runs in ₹1,000 steps to ₹1,00,000 a month and ₹10,000 steps to ₹5,00,000; figures are rounded to the hundred, and the accelerator is never credited.
3 notes on the card itself: how it is issued · the network variants · why it ranks #10
Why #10 Out of the top five, and our own numbers are the reason. This card pays ₹16,300 a year at ₹1,00,000 a month — the worst figure in our top twenty — ₹1,69,200 at ₹3,00,000 and ₹3,37,200 at ₹5,00,000, which is the best number on the whole board. One seat cannot say both, and at #5 it was saying the second thing to a reader we had not asked the spend of. So it now sits where the median reader lands, and the spend curve on this page is the real answer: the 35-points-per-₹200 tier above ₹1.5 lakh a month is the entire case for the card, and below that line it is ordinary. Two things that were propping the old seat are gone: the 5:4 transfer ratio people still quote is the Burgundy variant's — Axis's own table puts "Reserve & Magnus" at 5 EDGE points to 2 partner points — and since 28 Aug 2026 the Priority Pass no longer opens Indian domestic lounges on this card; you present the Magnus itself instead.
Our #1 for RuPay & UPI; #2 for High spenders — 2 of the 23 questions this desk ranks.
Best real exit: Singapore Airlines KrisFlyer at ₹0.44/pt (5:2 transfer, above house value).
The take
Everyone wrote the Magnus obituary after September 2023 — including us. The honest maths says otherwise for one specific person: the heavy spender. Below ₹1.5 lakh a month it's a forgettable 2.4% card wearing a ₹12,500 fee. But every rupee past ₹1.5 lakh earns 35 EDGE points per ₹200 — a 7% return in transferable miles — and at ₹5 lakh a month that's roughly ₹3.4 lakh of net annual value with the fee waived at ₹25 lakh. People put cars on this card for a reason. If you don't clear the threshold most months, cancel and move on; if you do, nothing this side of the Burgundy variant earns harder.
Your renewal — keep, downgrade or cancel
Here is the fee, the spend that clears it, and everything that has moved under this card since you last decided.
Keep, downgrade or cancel
₹12,500/yr at stake · 5 spend bands
The charge ₹12,500/yr
The waiver ₹25,00,000 of spend in the year before renewal — about ₹2,08,333 a month — and the renewal fee is not charged.
Break-even ₹52,000 a month — ₹6,24,000 a year — is where this card's value crosses its fee.
At your spend
−₹6,500 a year, net of the fee, at ₹3,00,000 of annual spend
−₹400 a year, net of the fee, at ₹6,00,000 of annual spend
₹11,700 a year, net of the fee, at ₹12,00,000 of annual spend
₹1,28,900 a year, net of the fee, at ₹36,00,000 of annual spend — this clears the waiver, so no fee is charged
₹2,70,000 a year, net of the fee, at ₹60,00,000 of annual spend — this clears the waiver, so no fee is charged
Everyday earn plus milestones, minus the fee — the same model as the value panel above, so the two cannot disagree. run your exact spend →
Your copy of this card
You hold this card.
Kept on this device, in your browser. It is never sent to us, never synced, and nothing else on the site reads it yet.
The downgrade
Axis Bank publishes no document naming a card you can step down to, so we name none — an invented product change is a phone call you would waste. That leaves keep or cancel, and the numbers above are the whole of it.
What has changed under this card
- 23 Sep 2026 Axis EDGE brings Accor back, drops ITC, and adds Cathay, Miles & More and Hilton issuer-wide
- 15 Sep 2026 Wyndham splits its three flat free-night tiers into four a program these points reach
- 8 Sep 2026 Flying Blue splits award tickets into Light / Standard / Flex — a 25% rise for the same product a program these points reach
We price what is in force today — a change that has not happened yet is not in these numbers. the full archive for this card →
If you call to cancel
What the bank offers to keep you is the one fact this desk cannot compute. We are collecting those reports — dated, and only in aggregate — before publishing any: an offer one reader was made is not one you are owed. Called about this card? Tell us what they offered →
The desk publishes subscribable .ics feeds for the dates it knows — offer deadlines, devaluations, expiry audits. Your renewal date is not one of them: only your statement knows it.
What's good
- 35 EDGE RP per ₹200 above ₹1.5L/month — 7% in transferable miles
- ~₹3.4L net annual value at ₹5L/month spend; fee waived at ₹25L
- 60 EDGE RP per ₹200 on the Travel Edge portal (₹2L/month cap) — 12% via transfers
- Standard EDGE partners at 5:2 — 5 points buy 2 partner miles — across the 27 programmes on the 25 Sep 2026 grid. The punished set (Avios, Cathay, Accor, IndiGo, Lotusmiles) is 5:1
- Unlimited domestic lounge visits plus unlimited international Priority Pass visits, with 4 guest visits a year
- 2% forex markup — half the 3.5% most Axis cards charge abroad
Watch out
- The up-to-25,000 EDGE Miles monthly milestone is gone — the accelerated tier is all that's left
- Marriott is still gone and ITC left the 25 Sep 2026 grid. Accor returned, but at 5:1 with BA, Finnair, Qatar, Cathay, IndiGo and Lotusmiles — not the 5:2 standard
- Since Jun-2025 the 35/₹200 tier caps at (credit limit + ₹1.5L) a calendar month — spend past that ceiling drops back to 12 per ₹200, so recycling is dead
- Domestic lounge access needs ₹50k spend in the previous 3 calendar months — the exemption Atlas, Olympus, Horizon, Reserve, Primus and Burgundy Private get does NOT extend to Magnus
- Below ₹1.5L/month it's a 2.4% card with a ₹12,500 fee — cancel territory
- 5:2 transfers since Sep 2023 — half the Burgundy variant's ratio
- Transfer caps (5L RP/yr: 1L Group A / 4L Group B) and ₹199 conversion fees
- Utilities & telecom, rent, wallet, government, insurance, gold & jewellery, fuel, cash advances and repayments earn ZERO — and are stripped out of the ₹25L fee-waiver count too
- Since 28 Aug 2026, per Axis's own Magnus notice, the dynamic-currency-conversion markup is 2% rather than 1.5%, Priority Pass no longer works at Indian DOMESTIC lounges (present the Magnus itself instead) and bridge fees, road fees and tolls earn nothing; gift cards sit in their own zero-earn category, and from 15 Nov 2026 linked memberships renew only with your explicit consent
What these points actually fly
You hold this — the numbers below are your own points.
These points feed 25 programmes that publish an award chart. Cheapest verified seat per cabin, priced in YOUR points with this card's own ratio already applied:
- Delhi → Mumbai Economy 18,750 Axis EDGE Reward Points via Air Canada Aeroplan at 5:2 the play
- Mumbai → Goa Business 31,250 Axis EDGE Reward Points via Air Canada Aeroplan at 5:2 the play
- Mumbai → Hyderabad First 62,500 Axis EDGE Reward Points via Air Canada Aeroplan at 5:2 the play
What earns, what doesn't
13 sourced rules · 8 pay zero
- Fuel · excluded Zero EDGE points; 1% surcharge waiver ₹400–₹4k txns (waiver cap ~₹400/month — community)
- Wallet loads · excluded Zero
- Rent & property management · capped UNIQUE: earns 12/₹200 on rent up to ₹50,000 spend/month, zero beyond (per 20-Jun-2025 T&C); excluded from fee-waiver calc
- Utilities (electricity/water/gas) · excluded 'Utility & Telecom' zero since 20-Apr-2024
Does your spend count toward the fee waiver?
10 of 15 categories answered
₹25,00,000 a year is the bar that waives the ₹12,500 fee. A different question from the one above — earning points and counting toward a threshold are separate rules, and issuers write them separately.
Put your number in
₹80,000 a month of rent & property management is ₹9,60,000 a year that counts ₹0 toward the fee waiver.
Verbatim from the Magnus revision T&C: "Excluded spend categories for reward earn / spend based fee waiver: Transactions made on Utility & Telecom, Rent (capped at INR 50,000 per month), Wallet, Government spends, Insurance, Gold & Jewellery, Fuel, Cash advances and Repayments." Magnus's rent cap is ₹50,000 a month against Reserve's ₹1,00,000 — same issuer, same revision date, different number, which is why we read the card's own document rather than its sibling's. Educational services are absent from this list. Silent on EMI and on international spend.
10 of 15 categories answered · per Axis Bank's own document · in force since 2025-06-20
Where the miles go
29 programs · 27 live
Ratios read card points : partner miles — 2:1 means 2 points become 1 mile. Never the other way round.
every Axis Bank route, side by side → · the Axis EDGE Reward Points hub →
Lounge access
667 of 793 tracked doors
Gate: ₹50,000 of eligible spend in the previous 3 calendar months for domestic (since 1 May 2024) — Magnus is NOT on the programme's exemption list. Since 28-Aug-2026 the Priority Pass card no longer opens Indian domestic lounges — present the Magnus itself; Priority Pass still works abroad and at the Indian post-immigration lounges Axis counts as international
Opens 667 of 793 tracked lounge doors across 265 airports , via Priority Pass Global — see the full map →
Can you get it?
income, age and the route in
The cutoffs and the actual route in — not the "apply now" button, the door that opens.
Direct application — no invite list, no banking relationship required.
per the official Axis Bank MITC — figures marked (community) aren't in the PDF; the issuer won't say · filter the board by what you can get →
The fine print
7 of 7 MITC rows published
What the MITC actually says — the rates, fees and cutoffs the brochure skips.
Fee ₹12,500, waived at ₹25L eligible spends; Nil for Burgundy Salary Accounts opened on/after 1-Jul-2026 (a Burgundy Salary a/c takes a net salary credit above ₹3L/month — official Burgundy eligibility PDF). Premium 3.0%/mo APR tier. Eligibility: community.
per the official Axis Bank MITC · reviewed 10 Jul 2026
What's changed for this card
8 dated changes
Devaluations and buffs that touch this card directly, its issuer, or the points and programs it earns and transfers to. Every one is dated here; the tracker carries each one's before → after and the write-up.
- 15 Nov 2026The Reserve's memberships stop renewing unless you say yesClub ITC Culinaire, Accorplus, handcrafted Club Marriott Asia Pacific, EazyDiner Prime and Priority Pass renewed automatically each year for as long as the card was open → From 15 Nov 2026 complimentary memberships linked to the card renew only with the cardholder's explicit consent — Axis says renewal and consent details will be shared closer to each renewal date. The same notice flips Priority Pass off at Indian domestic lounges from 28 Aug 2026 (present the Reserve card itself) and adds a ₹1,300 late-payment slab above ₹50,000 outstanding
The Reserve's whole defence of a ₹50,000 fee is the membership stack — Club ITC Culinaire with its free third night, Accorplus, handcrafted Club Marriott Asia Pacific, EazyDiner Prime, and the unlimited Priority Pass. Axis's own Reserve revision notice says that from 15 November none of them renew unless you actively consent. Framed as a choice, it works as breakage: the failure mode of an opt-in is silence, and a cardholder who misses the renewal email keeps paying ₹50,000 for a card whose benefits have quietly lapsed. Reserve is on the same list as Select, Magnus, Magnus for Burgundy, Burgundy Private, Olympus and both Miles & More cards, so this is the whole Axis premium book learning the same trick. Two other things ride the notice: from 28 August the Priority Pass card stops opening Indian domestic lounges — you present the Reserve itself against Axis's own eligible-lounge list, and post-immigration lounges at Indian international terminals still count as international — and a fifth late-payment slab of ₹1,300 appears above ₹50,000 outstanding. Notably, the Reserve notice carries no dynamic-currency-conversion line at all while the bank-wide grid goes 1.5% → 3.5%, and the card's 1.5% foreign transaction fee is untouched.
- 1 Nov 2026Privilege's movie buy-one-get-one becomes a spend gate
- 1 Nov 2026IndiGo Axis Premium's movie BOGO grows a ₹25,000 spend gate
- 1 Nov 2026The movie-BOGO spend gate reaches My Zone too — ₹25,000 in the previous 3 months
- 1 Nov 2026NEO's BookMyShow discount grows a ₹25,000 spend gate
- 1 Oct 2026SELECT's ₹3L milestone stops counting the spends it never rewarded
- 23 Sept 2026Axis EDGE brings Accor back, drops ITC, and adds Cathay, Miles & More and HiltonAccor and Marriott off the grid since 2 April 2026; Club ITC live; no Cathay, Miles & More or Hilton → Accor live at the punished rates; ITC removed; Cathay, Hilton and Miles & More live; Marriott still gone
Axis's own Travel EDGE terms, re-read 25 September 2026, already show the grid that went live on 23 September. Accor ALL is back, and not at the old Atlas 1:2: EDGE Miles convert at 2:1 (Olympus 1:2) and EDGE Rewards at 5:1, with Magnus for Burgundy at 5:2 and only Burgundy Private still at 5:4. Club ITC is off the table. Three partners are new. Cathay Asia Miles sits on that same punished grid. Hilton Honors is the ordinary one: EDGE Miles 1:2, EDGE Rewards 5:2, Burgundy 5:4. Lufthansa Miles & More is the exception on Atlas, which converts 1:1 there while every other standard airline on that card is 1:2; the EDGE Rewards side of Miles & More is the ordinary 5:2. Marriott stays removed. Qatar Privilege Club was already back. Flying Blue, Air India and Qantas moved into Group A, which is the capped group. The Axis Rewards credit card's Amex network is advertised as joining-fee and annual-fee nil for a limited period; there is no separate Amex variant on this board, so that offer is not modelled as a fee change.
- 15 Sept 2026Wyndham splits its three flat free-night tiers into four
Every Axis Bank change we've dated → 38 events since 2019, 25 of them nerfs — worst year 2026.
Verified against Axis Bank's own documents on · the net-annual-value engine, at our house ₹/point
Every document behind this page — 12 of them, each with the day we read it
- official Magnus revision T&C PDF (eff. 20-Jun-2025) — 12 EDGE REWARD Points per ₹200 up to ₹1.5L a calendar month, 35 per ₹200 above it only up to (credit limit + ₹1.5L)
- official Axis Bank Magnus product page — welcome voucher worth ₹12,500 (Luxe, The Postcard Hotels or Yatra), unlimited domestic lounge visits
- official Axis Bank Key Fact Sheet, updated 12-Aug-2026 — Magnus joining ₹12,500 / annual ₹12,500 (Nil for a Burgundy Salary Account opened on or after 1 Jul 2026)
- official Axis's Magnus-specific revision notice — effective 28 Aug 2026: "Dynamic Currency Conversion markup will be revised to 2% from 1.5%"
- official Axis Bank Domestic Airport Lounge Access Program — Magnus sits in Set B with unlimited complimentary access, and is NOT on the list of cards exempted from the ₹50,000
- official Axis Bank Points/Miles Transfer ratio table — "Reserve & Magnus credit card: 5 EDGE REWARD Points = 2 Partner Points", against 5:4 for Burgundy Private and Magnus for Burgundy
- community CardExpert review (portal earn + transfer caps)
- community CardInsider review
- community Apr-2026 partner purge
- community CardMaven — card network Visa Infinite (Mastercard World variant also issued)
- community CardMaven forum — Magnus RuPay live (Oct–Dec 2025), same fee & rewards
- community CardInsider forex table — Magnus 2% forex markup (below the 3.5% Axis standard)