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Axis Bank Magnus vs SBI Card ELITE

A head-to-head comparison of Axis Bank Magnus and SBI Card ELITE 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

SBI Card ELITE

Mid-Tier Premium

Annual Fee
₹4,999
Reward Rate
5X on dining + milestone benefits
Apply Now Read full review →

Feature comparison

FeatureAxis BankSBI Card
Annual Fee₹12,500 (Waived on ₹25L spend)₹4,999 (Waived on ₹10L spend)
Reward RateEDGE Rewards5X on dining + milestone benefits
Best ForFrequent International TravelersMid-Tier Premium
First-Card Friendly
Lounge Access
Zero Forex Markup

Spending category coverage

Which categories does each card reward?

CategoryAxis BankSBI Card
Dining
Movies & entertainment
International travel
Airport lounge access

Quick verdict

Choose Axis Bank Magnus if:

  • You spend heavily on international travel
  • You spend heavily on concierge service

Choose SBI Card ELITE if:

  • Lower annual fee (₹4,999 vs ₹12,500)
  • You spend heavily on dining
  • You spend heavily on movies & entertainment

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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SBI Card ELITE

What's good
  • 2 free movie tickets every month via BookMyShow (up to ₹250/ticket)
  • Solid annual milestone bonuses
  • International lounge access via Priority Pass (6 visits/year, max 2/quarter)
Watch out for
  • Lounge access count is limited compared to true premium cards
  • Trident hotel membership discontinued — only 10% dining discount remains
  • Reward points expire and must be actively redeemed
Apply Now
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