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Axis Bank Magnus vs ICICI Emeralde Private Metal

A head-to-head comparison of Axis Bank Magnus and ICICI Emeralde Private Metal across fees, rewards, and spending categories to help you decide which card suits your wallet better.

PremiumCard A

Axis Bank Magnus

Frequent International Travelers

Annual Fee
₹12,500
Reward Rate
EDGE Rewards
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PremiumCard B
Annual Fee
₹12,499
Reward Rate
3% base (6 pts per ₹200) + Unlimited Lounge & Golf
Apply Now Read full review →

Feature comparison

FeatureAxis BankICICI Emeralde
Annual Fee₹12,500 (Waived on ₹25L spend)₹12,499 (Waived on ₹10L spend)
Reward RateEDGE Rewards3% base (6 pts per ₹200) + Unlimited Lounge & Golf
Best ForFrequent International TravelersGolf Enthusiasts
First-Card Friendly
Lounge Access
Zero Forex Markup

Spending category coverage

Which categories does each card reward?

CategoryAxis BankICICI Emeralde
International travel
Airport lounge access

Quick verdict

Choose Axis Bank Magnus if:

    Choose ICICI Emeralde Private Metal if:

    • Lower annual fee (₹12,499 vs ₹12,500)

    Full pros & cons

    Axis Bank Magnus

    What's good
    • Airport meet-and-greet concierge service across India
    • Excellent travel insurance coverage
    • Unlimited international lounge access
    Watch out for
    • Domestic lounge access is heavily spend-gated (₹50K in prior 3 months)
    • Monthly milestone bonus program eliminated in September 2023 — was the biggest value driver
    • EDGE Miles transfer ratios halved (5:4 → 5:2); Accor, Marriott, Qatar Airways removed as partners (April 2026)
    • Fee waiver requires very high ₹25L annual spend (excluding wallet, fuel, rent, utilities)
    • ~2% forex markup on international transactions — better than standard 3.5% but not zero-forex
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    ICICI Emeralde Private Metal

    What's good
    • Unlimited airport lounge and spa access via Priority Pass globally
    • Low flight cancellation and rescheduling charges
    • Complimentary golf rounds at premium courses monthly
    Watch out for
    • Reward point value is lower than HDFC Infinia
    • ₹3,500 one-time fee for new add-on cards (since January 2026)
    • DCC fee raised to 2% on international transactions using INR conversion
    Apply Now
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