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Axis Bank

AXIS BANK MAGNUS Credit Card: rewards, caps and changes

What this card earns where, the caps that stop it, and what changed recently. Rates in the "Worth" column value one EDGE REWARD Points unit at ₹0.2 (conservative non-transfer value: edge rewards catalogue / vouchers).

What it earns

Milestones

• Spend tier, not a fixed bonus: eligible spends above ₹1.5 lakh in a calendar month earn 35 EDGE REWARD Points per ₹200 (12 base + 23 accelerated, credited within 45 days of month end), up to eligible spends of credit limit + ₹1.5 lakh, then 12 pts/₹200 again. Excluded categories and Travel EDGE spends up to ₹2 lakh do not count towards eligible spends. At ₹0.20/point, 35 pts/₹200 is about 3.5% value.

Recent changes

• UpcomingUpdateAxis Bank· from 15 November 2026

  Axis complimentary memberships renew only with your consent

  Complimentary memberships on Magnus, Magnus for Burgundy, Reserve, SELECT and other premium Axis cards will renew only after explicit cardholder consent. Axis says renewal details and consent options will be shared near the renewal date.

  Cards: AXIS BANK MAGNUS Credit Card, Axis Bank Reserve Credit Card, Axis Bank Select Credit Card

  Source: Axis Bank – Reserve T&C revision

• CutAxis Bank· since 28 August 2026

  Axis stops rewards on tolls and moves gift cards to their own excluded category

  Bridge, road and toll payments no longer earn rewards. Gift card purchases remain excluded from rewards and fee-waiver spend and now sit in a separate 'Gift card' category instead of 'Wallet'.

  Cards: Axis Bank Select Credit Card, AXIS BANK PRIVILEGE Credit Card, AXIS BANK MAGNUS Credit Card, Axis Bank Reserve Credit Card

  Source: Business Standard

• New feeAxis Bank· since 28 August 2026

  Axis raises top late-payment fee to ₹1,300

  The late fee for outstanding balances above ₹50,000 rises to ₹1,300, while lower slabs are unchanged. Payments are now applied first to fees and taxes, then EMIs, interest, purchases and cash advances.

  Applies across Axis Bank's cards

  Source: Business Standard

• Benefit changeAxis Bank· since 28 August 2026

  Axis Priority Pass no longer works at Indian domestic lounges

  On premium Axis cards, domestic lounges in India must now be accessed with the Axis credit card and boarding pass instead of the Priority Pass. Priority Pass still works for international lounges, including those at Indian international terminals.

  Cards: AXIS BANK MAGNUS Credit Card, Axis Bank Reserve Credit Card, Axis Bank Select Credit Card

  Source: Axis Bank – Magnus T&C revision

• New feeAxis Bank· since 28 August 2026

  Axis raises DCC markup to 3.5% on most cards, 2% on Magnus

  The markup on rupee-billed international transactions rises from 1.5% to 3.5% on SELECT, Privilege, MY ZONE and NEO, to 2% on Magnus and Magnus for Burgundy, and to 1.8% on Olympus.

  Cards: Axis Bank Select Credit Card, AXIS BANK PRIVILEGE Credit Card, AXIS BANK MAGNUS Credit Card

  Source: Business Standard

• BetterReportedAxis Bank· since 25 July 2026

  Qatar Airways returns as Axis transfer partner at lower ratios

  Qatar Airways Privilege Club reappeared as an Axis EDGE transfer partner in July 2026 without a formal announcement. It uses the reduced April ratios, e.g. 5:1 on Magnus and Reserve and 2:1 on Atlas and Horizon, not the old rates.

  Cards: AXIS BANK MAGNUS Credit Card, Axis Bank Reserve Credit Card, Axis Bank Atlas Credit Card, HORIZON Credit Card

  Source: Live From A Lounge

• CutReportedAxis Bank· since 2 April 2026

  Axis drops Accor, Marriott and Qatar as transfer partners

  Axis removed Accor, Marriott Bonvoy and Qatar Airways Privilege Club from EDGE Rewards and EDGE Miles transfers with immediate effect and no advance notice. Avios and Vietnam Airlines partners were set at lower ratios, e.g. 5:1 instead of 5:2 on Magnus and Reserve.

  Cards: AXIS BANK MAGNUS Credit Card, Axis Bank Reserve Credit Card, Axis Bank Atlas Credit Card, HORIZON Credit Card

  Source: Live From A Lounge

• CutAxis Bank· since 1 October 2025

  Axis forfeits unredeemed points 30 days after card closure

  Axis can forfeit unredeemed EDGE Reward Points or EDGE Miles 30 days after a card is closed, or once the minimum due has been outstanding for more than 90 days. Redeem before closing the card.

  Applies across Axis Bank's cards

  Source: Live From A Lounge

• UpdateAxis Bank· since 20 June 2025

  Axis defines reward exclusions by spend category instead of MCC

  Axis now decides which spends are excluded from rewards, fee waivers and milestones using its own spend-category labels (Utility & Telecom, Rent, Wallet, etc.) rather than 4-digit merchant category codes. Axis said the list of excluded categories itself did not change.

  Applies across Axis Bank's cards

  Source: Live From A Lounge

Live offers for this card

• FlipkartAxis Bank· until 30 September 2026

  10% off up to ₹1,500 on ₹4,990+ · card EMI only

  10% instant discount up to ₹1,500 on Axis Bank Credit Card EMI

  Offer terms · verified 23 Sept 2026

• MakeMyTripAxis Bank· until 30 September 2026· Wed only

  8% off up to ₹2,500 on ₹15,000+

  8% off domestic business-class flights with Axis Bank credit cards · Code MMTAXISBIZ

  Offer terms · verified 24 Sept 2026