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Side-by-Side Comparison|Updated March 2026

Axis Bank Magnus Credit Card vs ICICI Bank HPCL Platinum Credit Card

Detailed comparison of fees, rewards, benefits, and value to help you choose the right credit card for your spending pattern.

Axis Bank

Axis Bank Magnus Credit Card

8/10
Annual Fee₹12,500
Base Rewards0.2%
NetworkVisa
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ICICI Bank

ICICI Bank HPCL Platinum Credit Card

6.2/10
Annual Fee₹199
Base Rewards0.5%
NetworkVisa
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Feature-by-Feature Comparison

FeatureAxis Bank Magnus Credit CardICICI Bank HPCL Platinum Credit Card
Annual Fee₹12,500₹199
Joining Fee₹12,500₹199
Fee Waiver Spend₹25,00,000₹50,000
Base Reward Rate0.2%0.5%
Reward CurrencyEDGE Reward PointsICICI Bank Rewards
NetworkVisaVisa
Editor Rating8/106.2/10
Forex Markup3.5%3.5%

Accelerated Rewards

Axis Bank Magnus Credit Card

No accelerated rewards listed

ICICI Bank HPCL Platinum Credit Card

  • 0% on Fuel at HPCL

Pros & Cons

Axis Bank Magnus Credit Card

Pros

  • High reward rate of 17.5 EDGE points per ₹200 on spends above ₹1.5 Lakhs monthly.
  • Unlimited domestic and international lounge access for primary and add-on cardholders.
  • Low foreign currency markup fee of 2% for international transactions.
  • Welcome benefit voucher worth ₹12,500 effectively offsets the joining fee.

Cons

  • Significant devaluation in 2024 removed monthly milestone bonuses and concierge services.
  • High annual fee waiver threshold of ₹25 Lakhs is difficult for most users to reach.
  • Reward points transfer ratio to air miles reduced from 5:4 to 5:2 for non-Burgundy users.

ICICI Bank HPCL Platinum Credit Card

Pros

  • 2.5% cashback on fuel purchases at HPCL pumps (up to ₹100/month).
  • 1% fuel surcharge waiver on transactions up to ₹4,000 at HPCL.
  • ₹100 off on movie tickets twice a month via BookMyShow.
  • Low annual fee of ₹199, waived on spending ₹50,000 annually.

Cons

  • Cashback and surcharge waiver only applicable on ICICI Merchant Services swipe machines.
  • No airport lounge access benefits.
  • Low reward rate on non-fuel retail spends (0.5% value).

Our Verdict

Axis Bank Magnus Credit Card edges ahead overall with a stronger combination of rewards and value. However, ICICI Bank HPCL Platinum Credit Card could be the better pick if its specific category strengths match your spending habits.

Choose Axis Bank Magnus Credit Card if

Best value is unlocked after crossing the ₹1.5 Lakh monthly spend threshold.

Choose ICICI Bank HPCL Platinum Credit Card if

Strong fuel savings at HPCL pumps for a very low annual fee.

Frequently Asked Questions

Which is better: Axis Bank Magnus Credit Card or ICICI Bank HPCL Platinum Credit Card?
Axis Bank Magnus Credit Card edges ahead overall with a stronger combination of rewards and value. However, ICICI Bank HPCL Platinum Credit Card could be the better pick if its specific category strengths match your spending habits.
What is the annual fee difference between Axis Bank Magnus Credit Card and ICICI Bank HPCL Platinum Credit Card?
Axis Bank Magnus Credit Card has an annual fee of ₹12,500, while ICICI Bank HPCL Platinum Credit Card has an annual fee of ₹199. Axis Bank Magnus Credit Card offers a fee waiver on ₹25,00,000 annual spend. ICICI Bank HPCL Platinum Credit Card offers a fee waiver on ₹50,000 annual spend.
Which card has better rewards: Axis Bank Magnus Credit Card or ICICI Bank HPCL Platinum Credit Card?
Axis Bank Magnus Credit Card offers a base reward rate of 0.2%. ICICI Bank HPCL Platinum Credit Card offers 0.5% base rewards with bonuses on Fuel at HPCL. The better choice depends on your primary spending categories.
Can I have both Axis Bank Magnus Credit Card and ICICI Bank HPCL Platinum Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. Axis Bank Magnus Credit Card and ICICI Bank HPCL Platinum Credit Card can complement each other if they cover different reward categories.
Which card is better for beginners: Axis Bank Magnus Credit Card or ICICI Bank HPCL Platinum Credit Card?
For beginners, ICICI Bank HPCL Platinum Credit Card may be more approachable with a lower annual fee of ₹199. However, evaluate based on your expected spending pattern rather than fee alone.

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