6 EDGE Reward Points / ₹100
Strong data Pairwise comparison
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AXIS Magnus vs IDFC FIRST Private
Side-by-side comparison of the Axis Bank Magnus and the IDFC FIRST Bank Private. Verify fees, lounge access, forex markup, and base rewards before you apply.
The short answer
Pick Private for spending abroad.
Magnus costs ₹12,500 less a year but waives only at ₹25,00,000 spend, Private at Not offered.
Head-to-head
- Annual fee Annual fee outcome: tie. ₹12,500/yr apart · waiver gates differMagnus ₹12,500 Waivable at ₹25,00,000 spendPrivate ₹25,000 Annual-fee waiver not offered
- Forex markup Forex markup outcome: Private wins. Private saves ~₹2,000 per ₹1L abroadMagnus 2%Private 0%
- Domestic lounge Domestic lounge outcome: tie. Magnus Unlimited Conditional · Domestic: Unlimited · requires ₹50,000 spend in the previous 3 calendar monthsPrivate Unlimited
- Rewards Rewards outcome: tie. conservative base valueMagnus ~1.2%Private ~1.7%
Reward earning explained
10 pts / ₹150 on domestic spend
Strong dataExample usage at this monthly spend
At ₹50k/month spend:
- IDFC FIRST Private: ~₹830/month at base rate
- Magnus: ~₹600/month at base rate
Illustrative only, using current base rates before caps.
All fields
| Field | Magnus Axis Bank | Private IDFC FIRST Bank |
|---|---|---|
| Lounge Access | ||
| Domestic lounge visits spend-gated on some cards — see caveats | Unlimited | Unlimited |
| International lounge visits | Unlimited | Unlimited |
| Forex / International Use | ||
| Forex markup 2% vs 0% | 2% | 0% |
| Fees | ||
| Recurring annual fee ₹12,500 vs ₹25,000 | ₹12,500 | ₹25,000 |
| Annual-fee waiver ₹25,00,000 vs Not offered | ₹25,00,000 | Not offered |
| Interest-free period Up to 50 days vs Up to 45 days | Up to 50 days | Up to 45 days |
| Monthly interest rate Only available for IDFC FIRST Private | Not specified | 0.75% / month |
| Late-payment charge Only available for Magnus | ₹500–₹1,300 depending on outstanding balance | Not specified |
| Fuel benefit 1% surcharge waiver · ₹400–₹4,000 transactions · ₹400/month waiver cap · Fuel rewards excluded vs 1% surcharge waiver · ₹200–₹5,000 transactions | 1% surcharge waiver · ₹400–₹4,000 transactions · ₹400/month waiver cap · Fuel rewards excluded | 1% surcharge waiver · ₹200–₹5,000 transactions |
| Rewards | ||
| Base earn 6 EDGE Reward Points / ₹100 vs 10 pts / ₹150 on domestic spend | 6 EDGE Reward Points / ₹100 | 10 pts / ₹150 on domestic spend |
| Conservative base value ~1.2% vs ~1.7% | ~1.2% | ~1.7% |
| Earn ceiling | Not stated | Not stated |
| Point value (headline channel) Issuer headline redemption rate — see each card page for the full channel grid. ₹0.2 vs ₹0.25 | ₹0.2 | ₹0.25 |
| Point validity Only available for IDFC FIRST Private | Not specified | 2 years |
| Insurance — Air accident cover Only available for IDFC FIRST Private | Not specified | ₹2.5 crore |
| Insurance — Personal accident cover Only available for IDFC FIRST Private | Not specified | ₹10 lakh |
| Insurance — Lost card liability cover Only available for IDFC FIRST Private | Not specified | ₹5 lakh |
| Insurance — Underwriter Only available for IDFC FIRST Private | Not specified | Insured by New India Assurance |
Notes
- Axis Bank Magnus Credit Card: Condition: ₹50,000 spend in the previous 3 calendar months
- Card benefits change frequently. Always verify current terms on the issuer's official website or app before applying.
Axis Bank Magnus
Verify with issuer , opens external siteIDFC FIRST Bank Private
Verify with issuer , opens external site