Axis Bank Magnus Credit Card: New rules from September 1

Axis Bank has revised terms and conditions for its popular Magnus Credit Cards

[{"selector":"#anim-e63fea1a-4308-4af4-96d9-203d6df75a26 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.25730509927914%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

as per a document on the Axis Bank website, which is also being circulated on social media.

[{"selector":"#anim-06175eb3-b0fc-4db3-ac45-4dd364f45ea7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.25730509927914%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

increase the annual fee from Rs 10,000+ GST to Rs 12,500+ GST.

[{"selector":"#anim-94eedcd8-984b-4ed5-ac30-cfddee67ea75 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.25730509927914%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

Customers on-boarded from 1st September 2023 will be able to choose any one voucher worth Rs 12,500

[{"selector":"#anim-015436cf-2510-44ba-a0bd-afaede542328 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.25730509927914%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

1st September 2023 will receive a fee waiver of Rs 12,500 on spends of Rs 25 lakh in the preceding card anniversary year.

[{"selector":"#anim-85571f1e-1cfe-46f2-894f-831db098b860 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.25730509927914%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

an annual fee waiver will be applicable on cumulative spends of Rs 15 lakh in the preceding card anniversary year.

[{"selector":"#anim-9ee819af-3d3e-4d67-9bf2-68b39cfffb54 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.25730509927914%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

after 1st September 2024, a fee waiver will be applicable on cumulative spends of Rs 25 lakh in the preceding card anniversary year.

[{"selector":"#anim-226057a2-06f8-48c7-abae-0d39a603005f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.25730509927914%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]