Axis Bank has made a meaningful pricing change to the Magnus Credit Card, and new applicants will feel it immediately. The annual fee is going up from ₹10,000 to ₹12,500 + GST for applications made from May 1, 2026. That is a noticeable jump, especially for a card that already sits in the premium segment.
There is one important relief for existing cardholders: they keep the current fee until their next renewal. So this is not an instant hit for people already holding the card, but it does raise the entry cost for anyone considering Magnus from scratch. Axis is also keeping the complimentary Meet & Greet benefit and 8 Priority Pass visits per year in place, so the fee hike is not accompanied by a visible cut in those headline perks.
For new applicants, the real question is whether Magnus still clears the value bar after the fee increase. Premium cards need to justify themselves through travel benefits, status perks, and strong redemption potential. Once the fee moves to ₹12,500 + GST, the card has to work harder to earn its place in a wallet, especially if you are not making full use of the travel and concierge-style features.
This change is especially relevant for anyone who was waiting on the sidelines to apply. A fee hike like this often signals that the bank sees enough demand to push pricing higher, which means the card is becoming a more selective proposition. If you’re a frequent traveler who can use the lounge and premium benefits, the card may still make sense. If not, the new fee makes the comparison against other premium cards tougher.
What You Should Do: If you were planning to apply for Magnus, do the math carefully before May 1, 2026. Existing holders can wait until renewal, but new applicants should compare the card against other premium options before accepting a ₹12,500 + GST annual fee.