Axis Magnus Credit Card: Benefits, Eligibility & Charges

Do you like shopping? Well, I’m sure you do and if you are an Axis Bank user then you are in for a treat! There is a thing called the Axis Magnus Credit Card and it is time for you to get it for its amazing benefits. Before we proceed further, let me tell you some details about this credit card.

The Axis Magnus Credit card is a super premium credit card and it is quite popular among customers. You can get some great deals and cashback on your spending. This will allow you to enjoy more benefits on the same budget or less while traveling, dining, booking tickets, and more.

You unlock a whole new world of offers and rewards with this Axis Bank card. But before this, it is important you learn about other aspects of this card. 

Key Features and Benefits of Axis Magnus Credit Card

It is important to note down the features and benefits whenever we try something new. Though we will talk about these benefits in detail further in the article, let me give you an overview of this card in brief:

• Annual Benefit: You can choose between getting one free domestic flight ticket or a TataCliq voucher worth Rs.10,000.
• Airport Concierge Services: This card will allow you to enjoy 8 complimentary end-to-end VIP services including access to the premium VIP lounge at the airport.
• Dining Offers: if you choose to pay with this credit card, you can avail of up to 20% discount at more than 4000 restaurants all over India.
• Surcharge Waiver on fuel: This card offers a 1% fuel surcharge waiver when you get your vehicle refilled from any station in India. However, it applies to transactions between Rs.400 to Rs.4,000.
• Cashback on Daily Expenses: Whether you pay bills or order something to eat, you will get a portion of your money back when you pay with the Axis Magnus Credit Card.

Eligibility Criteria

It is important to know the eligibility criteria to enjoy the benefits of this card. Don’t worry, there are only a few requirements.

You need to be above the age of 18 and must be earning Rs.18 lac per annum. And lastly, you should be a resident of India.

Documents Required

After passing the criteria, you should have all the required documents handy. Without the documents, the bank will not accept your application for the credit card. These include:

• Proof of identity – PAN Card, Passport, Voter ID, etc.
• Proof of Address – Electricity Bill, Aadhar Card, Passport, etc
• Income Proof – Salary Slips, Recent ITR Return, etc.
• Passport Size Photo – It should not be older than 6 months. Make sure all the documents have the same information and proceed with the application process.

Fee and Charges

The Axis Magnus Credit card does not come for free like the regular credit card. For premium benefits, there are a few charges you need to pay:

Description	Fee and Charges
Joining Fee	Rs.10,000 plus GST
Renewal Charges	Rs.10,000 plus GST (this GST could be waived off if you spend more than 15 lacs a year)
Finance Charges	2.5% per month/ 34.49% per annum
Overlimit Charges	2.5% of the overlimit amount
Late Payment fee	Rs.300 if the amount is up to Rs.2,000 Rs.400 if the amount is up to Rs.2,001 Rs.600 if the amount is up to Rs.5,000
Foreign currency Markup Charge	2% of the amount

Additional taxes will also be applied to these fees and charges.

How to Apply for Axis Magnum Credit Card Online?

You can easily apply for the Axis Magnum Credit card online by following the steps below:

1. Open your preferred search browser and visit the official website of Axis Bank.
2. Scroll down and select the option of “Credit Card”. A new page will open up presenting a lot of different card options. Find a Magnus Credit Card and click on it.
3.  Log in as an existing customer and fill up the form with your name, mobile number, and monthly income.
4. This will lead you to the next step which is verification. There are two options you can either opt for a text message OTP or verification by Call.
5. Fill in the code or give the required information when a bank executive calls you. We would strongly recommend you opt for the OTP option because there are cyber frauds happening left and right.

This is how you can apply for this credit card online. You can apply for the same offline by visiting any Axis Bank branch nearby with the documents mentioned above.

Are There Any Drawbacks to the Axis Bank Magnum Credit Card?

Well, the answer to this question depends completely on you. Nothing is as good as it seems. Let us discuss a few drawbacks we found about this card:

• Being such a premium credit card with higher fees and charges than most in the market, we expected the reward point system to be amazing. But alas, it is decent at most.
• You need to spend at least Rs.15 lacs to get a portion of your money back on your Annual fee. This is quite high and could have been lower.

Final Words

Axis Magnum credit card comes with a lot of benefits to maintain an easy lifestyle. I know there are a few drawbacks but all the other advantages trump them. Make sure you check all fees and charges associated with the card so that you don’t pay any extra charges.

So, apply now, and get your Magnum card issued today to unlock a whole new world of cashbacks and premium treatment.

Frequently Asked Questions

Q1. Is there any limit on the usage of the Axis Magnum credit card?

Well, the utilization limit of the credit card depends on your CIBIL score and varies from person to person. You can check out the limit by logging in to your Axis bank account.

Q2. What is the joining fee for the Axis Magnum Credit Card?

To avail of the benefits of this credit card, there is a joining fee of Rs.10,000.

Q3. Magnum Credit card by Axis Bank is supported by which network?

It is supported by the Mastercard network.