Axis Magnus vs HSBC Premier (Metal) (2026)
₹12,500 that only pays above ₹1.5 lakh a month against ₹20,000 whose earn stops at ₹1 lakh a month — Magnus's 7% top tier versus Premier's flat 3% under a hard cap. The heavy spender and the HSBC relationship client are not the same person.
Head to head
| Axis Magnus | Metric | HSBC Premier (Metal) |
|---|---|---|
| #6 — wins this row | Our rank | #11 |
| ₹12,500/yr | Fee — joining · annual (+ GST) | ₹12,000 joining, then ₹20,000/yr — wins this row |
| ₹25,00,000 spend | Fee waiver | None |
| 2% + GST | Forex markup | 0.99% + GST — wins this row |
| 3.0%/mo (42.58%/yr, compounded as quoted by Axis) | APR | 2.99%/mo (35.88%/yr), computed from transaction date — Premier-specific rate (all other HSBC cards 3.75%/mo) |
| 2.4% | Headline earn rate | 3.0% — wins this row |
| Axis EDGE Reward Points | Currency | HSBC Reward Points |
| ₹0.40/pt | House value | ₹1.00/pt |
| ₹12,500 voucher — Luxe, Postcard Hotels or Yatra | Welcome benefit | 20,000 reward points on first spend (cards issued through 31 Dec 2026) — the Taj Epicure/EazyDiner membership welcome quietly ended by Apr 2026 |
| 731 of 789 — wins this row | Lounge doors opened | 72 of 789 |
| ₹24L+/yr | Income — salaried | Qualified Premier relationship: ₹3L+ net monthly salary credit, or ₹50L quarterly TRB (₹40L if the account opened before 1-Jan-2026), or ₹1.15Cr+ mortgage plus the TRB criterion |
| ₹24L+/yr | Income — self-employed | Same Premier relationship gates — TRB or mortgage routes |
Gold marks the better side of a row. House value is our ₹-per-point mark for each card's currency — the full valuation index →
Ranking-value face-off
Everyday spend at each card's base rate plus a realistic ~20% at its best accelerator (less for narrow or capped boosters) — milestones, fee waivers and the redemption haircut all at our house ₹/point. That's why the biggest headline rate doesn't automatically win. This is the ranking model, the one that orders the board; each card page prints the earn-rate-only net annual value instead, which reads lower for any card with an accelerator (both models, side by side). Tune it to your own spend in the calculator.
Axis Magnus out-earns HSBC Premier (Metal) at every spend level we model, from ₹25k to ₹5L a month.
How the gap moves with spend
Axis Magnus leads at all 20 steps, but not by the same amount: ₹8,004 at ₹0.25L a month, ₹2,23,280 at ₹5L — the gap fans out with spend, widest at ₹5L (₹2,23,280).
Axis Magnus runs a 12.0% booster on Travel Edge portal, where HSBC Premier (Metal) earns one flat rate; HSBC Premier (Metal) charges twice — ₹12,000 to join, then ₹20,000 every year after.
Axis Magnus draws above the line, HSBC Premier (Metal) below · ₹0.25L to ₹5L a month, step by step
| Monthly spend | Axis Magnus | HSBC Premier (Metal) | In front |
|---|---|---|---|
| ₹0.25L | −₹2,996 | −₹11,000 | Axis Magnus by ₹8,004 |
| ₹0.5L | ₹6,508 | −₹2,000 | Axis Magnus by ₹8,508 |
| ₹0.75L | ₹16,012 | ₹7,000 | Axis Magnus by ₹9,012 |
| ₹1L | ₹25,516 | ₹16,000 | Axis Magnus by ₹9,516 |
| ₹1.25L | ₹35,020 | ₹25,000 | Axis Magnus by ₹10,020 |
| ₹1.5L | ₹44,524 | ₹34,000 | Axis Magnus by ₹10,524 |
| ₹1.75L | ₹67,828 | ₹43,000 | Axis Magnus by ₹24,828 |
| ₹2L | ₹91,132 | ₹52,000 | Axis Magnus by ₹39,132 |
| ₹2.25L | ₹1,26,936 | ₹61,000 | Axis Magnus by ₹65,936 |
| ₹2.5L | ₹1,50,240 | ₹70,000 | Axis Magnus by ₹80,240 |
| ₹2.75L | ₹1,73,544 | ₹79,000 | Axis Magnus by ₹94,544 |
| ₹3L | ₹1,96,848 | ₹88,000 | Axis Magnus by ₹1,08,848 |
| ₹3.25L | ₹2,20,152 | ₹97,000 | Axis Magnus by ₹1,23,152 |
| ₹3.5L | ₹2,43,456 | ₹1,06,000 | Axis Magnus by ₹1,37,456 |
| ₹3.75L | ₹2,66,760 | ₹1,15,000 | Axis Magnus by ₹1,51,760 |
| ₹4L | ₹2,90,064 | ₹1,24,000 | Axis Magnus by ₹1,66,064 |
| ₹4.25L | ₹3,13,368 | ₹1,33,000 | Axis Magnus by ₹1,80,368 |
| ₹4.5L | ₹3,36,672 | ₹1,42,000 | Axis Magnus by ₹1,94,672 |
| ₹4.75L | ₹3,59,976 | ₹1,51,000 | Axis Magnus by ₹2,08,976 |
| ₹5L | ₹3,83,280 | ₹1,60,000 | Axis Magnus by ₹2,23,280 |
Transfer reach
Both reach
- Singapore Airlines KrisFlyer 5:2 vs 1:1
- Qatar Airways Privilege Club (Avios) 5:1 vs 1:1
- The British Airways Club (Avios) 5:1 vs 1:1
Only Axis Magnus
- Finnair Plus (Avios)
- Air Canada Aeroplan
- Ethiopian ShebaMiles
Only HSBC Premier (Metal)
- Marriott Bonvoy
- ALL - Accor Live Limitless
- EVA Air Infinity MileageLands
Full route maps on each card page, best ₹/point routes on the optimizer →
What to watch out for
Axis Magnus · 6 more →
- The up-to-25,000 EDGE Miles monthly milestone is gone — the accelerated tier is all that's left
- The Apr-2026 purge hit Magnus too — Marriott and Accor gone; BA, Finnair and (since Jul 2026) a returned Qatar all convert at 5:1, not 5:2
- 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
HSBC Premier (Metal) · 1 more →
- Premier relationship required: ₹50L quarterly TRB (₹40L for pre-2026 accounts) or ₹3L/month salary credit
- ₹20,000 renewal fee if your relationship lapses (₹12,000 joining in year one)
- Fuel earns zero, and utilities/insurance/education/govt/e-wallets/jewellery/tax share one ₹1L-a-month earning cap (from 1 Apr 2025)
The call
For the ₹1L/month spender, Axis Magnus nets ₹25,516 against ₹16,000 — a ₹9,516 gap. At ₹5L/month, Axis Magnus nets ₹3,83,280 against ₹1,60,000 — a ₹2,23,280 gap. Lounge chasers: Axis Magnus opens 731 of 789 tracked doors to HSBC Premier (Metal)'s 72.
Our standing verdicts: Axis Magnus — Keep; HSBC Premier (Metal) — Keep. On our board, Axis Magnus sits at #6 to HSBC Premier (Metal)'s #11 — that's the overall call. Your spend pattern can overrule us: run your exact numbers →
Straight answers
Which is better, Axis Magnus or HSBC Premier (Metal)?
Axis Magnus. It sits at #6 on our board to HSBC Premier (Metal)'s #11. Axis Magnus takes 5 of the 8 rounds we can score. Axis Magnus out-earns HSBC Premier (Metal) at every spend level we model, from ₹25k to ₹5L a month.
Axis Magnus or HSBC Premier (Metal) — which earns more at ₹3L a month?
At ₹3L a month, Axis Magnus nets ₹1,96,848 against ₹88,000 — a ₹1,08,848 gap. Those are ranking-value figures: everyday spend at the card's base rate plus a realistic slice at its best accelerator, net of the fee.
Which costs less to hold, Axis Magnus or HSBC Premier (Metal)?
HSBC Premier (Metal) — ₹12,000 joining, then ₹20,000/yr against ₹12,500/yr. Axis Magnus waives its fee at ₹25,00,000 of spend; HSBC Premier (Metal) at no spend level — there is no waiver.
Which gets you into more airport lounges, Axis Magnus or HSBC Premier (Metal)?
Lounge chasers: Axis Magnus opens 731 of 789 tracked doors to HSBC Premier (Metal)'s 72. Visit quotas, guest charges and spend gates are per card — the lounge map carries each one.
How current is this comparison?
Both card records were last re-verified against their issuers' own documents on 2026-08-09. Every figure on this page — the ranking values, the fee rows, the lounge counts, the transfer ratios — is recomputed from those records each time the site builds, so a devaluation changes the call the day we log it.