Axis Bank Launches Magnus, a Metal Card to Rival Infinia
Axis Bank launched Magnus on September 18, 2019 — a metal card with a ₹10,000 annual fee, meet-and-assist services and unlimited lounge visits, built to challenge HDFC Infinia. Early reviews called the base 1.2% reward rate weak for the price.
Axis Bank finally has a metal card. Magnus launched on September 18, 2019 with a ₹10,000 annual fee, unlimited lounge visits and airport meet-and-assist services — a lifestyle-heavy package aimed squarely at HDFC Infinia, which until today had no real rival at the top of Axis’s lineup.
The catch is the math. Early reviews flag the base reward rate at 1.2%, which is thin for a card charging ₹10,000 a year. Infinia holders won’t be tempted by the earn rate; the pitch here is the perks and the metal.
Still, this is Axis declaring it wants the super-premium segment, not just renting space in it. Whether Magnus becomes a genuine Infinia alternative depends entirely on what Axis bolts onto it next.
Our take: pretty card, ordinary engine — at 1.2% base earn, Magnus is a perks play, not a points play. Watch it, don’t chase it yet.