Axis Magnus Review 2026: The Fallen King?

The Rise and Fall

In 2023, the Axis Magnus was the undisputed king of credit cards. You could pay ₹1 Lakh/month and get 25,000 bonus points. It was a money-printing machine.

In 2026, the party is over.

Axis Bank has systematically dismantled the benefits of this card. If you are reading old reviews from 2023, STOP. They are outdated. Here is the brutal reality of the Magnus today.

The Devaluation (What Changed?)

1. No Monthly Bonus: The 25,000 Edge Rewards for spending ₹1 Lakh is GONE. This was the heart of the card.
2. Transfer Ratio Slashed: You used to transfer 5 Points -> 4 Miles. Now, you transfer 5 Points -> 2 Miles. That is a 50% devaluation overnight.
3. Lounge Access Capped: Use unlimited lounges? Great. But now you must spend ₹50,000 in the previous quarter to unlock it.

So, is it useless? (The Burgundy Exception)

There is a twist. Axis split the card into two versions:

• Magnus (Standard): The devalued version (Fee: ₹12,500).
• Magnus for Burgundy: The super-premium version (Fee: ₹30,000).

If you are a Burgundy Client (TRV > ₹30 Lakhs), you still get the 5:4 Transfer Ratio. For you, the card is still decent. For everyone else, the standard Magnus is a hard justify.

Benefit 1: Reward Rate (Standard Version)

You earn 12 Points per ₹200 spent.

• Spend: ₹1 Lakh
• Points: 6,000 Points
• Miles (5:2): 2,400 Miles
• Net Return: ~2.4%

Compare this to HDFC Infinia: On the same spend, Infinia gives you a 3.3% base return, and up to 33% on SmartBuy. Magnus is no longer in the same league.

Benefit 2: Lifestyle Perks (Still Good)

Despite the rewards crash, the lifestyle perks are solid:

• Unlimited International Lounge: With 4 guest visits per year.
• Airport Meet & Greet: 8 services per year (checking in and immigration assistance). *Check latest T&C as this is often restricted to Burgundy.*
• BookMyShow: Buy 1 Get 1 Free (Up to ₹500).

Comparison: Magnus vs Infinia vs Amex Platinum Travel

Feature	Axis Magnus (Standard)	HDFC Infinia	Amex Platinum Travel
Fee	₹12,500	₹12,500	₹5,000
Reward Rate	~2.4% (Miles)	3.3% - 33%	~4% - 6% (Miles)
Transfer Ratio	5:2 (Poor)	1:1 (Gold)	1:1 (Marriott)
Lounge	Unlimited (Conditional)	Unlimited	Limited

Verdict: Should You Apply?

NO, if:
1. You are a standard user expecting 2023-level rewards.
2. You can qualify for HDFC Infinia or Diners Black Metal.
3. You want a simple cashback card (Get SBI Cashback).

YES, if:
1. You are an **Axis Burgundy** client (High Net Worth).
2. You value the "4 Guest Lounge Visits" highly for family travel.
3. You want the "Airport Meet & Greet" service (if eligible).