Is the Axis Bank Magnus Credit Card Worth It?
Enter what you spend where this card pays more, and the benefits you would use. See what it is worth to you in rupees, after its fee.
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- FreeCost
- Rewards card
- Needs ₹2,00,000 a month income
- ₹14,750 fee a year (with GST)
- Fee waived from ₹2,08,333 a month
- 2.4% on most spends
- Unlimited lounge visits
- Pays in reward points
- spending ₹2,08,333 or more a month: the ₹14,750 fee is waived
- frequent flyers: unlimited airport lounge visits
- spending abroad: 2% markup, most cards add 3.5%
- you spend less than ₹2,08,333 a month (₹25,00,000 a year, rent and wallet loads not counted): the ₹14,750 fee is then charged
- most of your spending is fuel, utility bills, insurance or wallet top-ups: those earn nothing on this card
- you pay mostly by UPI: a Visa or Mastercard card cannot pay by UPI
- you spend a lot on travel: the card's terms do not state a rate there, so we count nothing
- you sometimes pay only the minimum due: interest of 3% a month (36% a year) outweighs any reward
Your spend a month, by kind
Terms on the normal rate: 12 EDGE Reward Points per ₹200 on all spends (~2.4% at ₹0.40/pt). Above ₹1.5L/month spend earns 35/₹200 across ALL categories, up to your credit limit + ₹1.5L a month, then back to 12, a spend tier, not a merchant rate. The Axis Travel EDGE portal earns 60/₹200. Both accelerators, not baseline.
Also earns nothing on: Gold and jewellery, Gift cards.
Total on the card: ₹0 a month
Abroad and benefits
Every rate on this card, and what your spend earns
| Spend category | Rate | Monthly cap | Where it applies | Your spend earns |
|---|---|---|---|---|
| UPI payments (scan and pay) | Earns nothing | - | a Visa or Mastercard card cannot pay by UPI | - |
| Online shopping | 2.4% | No cap | The card's normal rate | - |
| Dining and food delivery | 2.4% | No cap | The card's normal rate | - |
| Groceries | 2.4% | No cap | The card's normal rate | - |
| Travel: flights, hotels, trains | Not stated | - | the card's terms give it a rate of its own we cannot read as a number | - |
| Fuel | Earns nothing | - | earns nothing on this card | - |
| Bills and recharges | Earns nothing | - | earns nothing on this card | - |
| Rent | 2.4% | No cap | The card's normal rate | - |
| Insurance premiums | Earns nothing | - | earns nothing on this card | - |
| School and college fees | 2.4% | No cap | The card's normal rate | - |
| Wallet top-ups | Earns nothing | - | earns nothing on this card | - |
| Taxes and government payments | Earns nothing | - | earns nothing on this card | - |
| Spend abroad or in a foreign currency | 2.4% | No cap | The card's normal rate | - |
| Everything else | 2.4% | No cap | The card's normal rate | - |
Card data sourced via CardAdvisor.in, India Credit Card Facts, CC BY 4.0, adapted by SkyloFin.
Common Questions
When is a credit card worth its annual fee?
When the rewards you actually earn in a year are more than the fee plus 18% GST, or when you spend enough for the bank to waive the fee. This calculator works out both from the card's own published terms.
Why is GST added to the fee?
Card fees carry 18% GST, so a ₹1,000 fee costs ₹1,180. Where the bank already quotes the fee with GST, it is not added twice.
What does 'capped' mean?
Many cards limit the reward you can earn in a month in a category. Spending above the cap earns nothing extra, so the calculator stops counting there.
Is a lifetime free card always better?
Not always. A paid card with higher rewards can leave you with more once you spend enough. The break-even line shows the monthly spend where that starts.
Guides in Plain Words
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