Axis Bank is increasing the annual fee on the Axis Magnus Credit Card from ₹10,000 to ₹12,500 plus GST for new applications starting May 1, 2026. Existing cardholders will retain the current fee until their next renewal, so the change is not immediate for current users. The card’s complimentary Meet & Greet service and 8 Priority Pass lounge visits per year remain intact, which means the fee hike does not come with any added travel benefit in the scraped update.
The fee revision is significant because it raises the card’s annual cost by ₹2,500 before GST for new applicants. Since the benefit stack remains unchanged, the economics are less favorable for first-time applicants than for existing cardholders who can continue at the old pricing until renewal. There is no mention of a revised welcome bonus, spend threshold, or additional milestone benefit in the data, so the only confirmed change is the higher fee for new sign-ups. That makes this a classic pricing devaluation rather than a rewards improvement.
For premium travelers, the Axis Magnus still keeps its signature perks, but the higher entry fee narrows its value gap versus cards like HDFC Infinia, SBI Elite, and Amex Platinum. New applicants who were considering the card mainly for lounge access and Meet & Greet should reassess whether the ₹12,500 + GST fee is justified without a matching increase in benefits. Existing cardholders are protected for now, which softens the impact, but they should prepare for the higher fee at renewal. On balance, this is negative for new applicants and neutral-to-negative for current users over time.
To apply, new customers should use the Axis Bank Magnus Credit Card page and submit their application after May 1, 2026 if they want the new fee structure to apply. Existing users do not need to take any action immediately; the old fee continues until the next renewal cycle. The key fine print to watch is the renewal date, because that is when the higher fee is likely to hit current cardholders. Applicants should also verify whether any annual spend waiver or fee offset exists in the final card terms, since none is mentioned in the scraped update.