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Side-by-Side Comparison|Updated March 2026

Axis Bank Magnus Credit Card vs SBI Card PULSE

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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SBI Card

SBI Card PULSE

7.2/10
Annual Fee₹1,499
Base Rewards0.5%
NetworkVisa
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Feature-by-Feature Comparison

FeatureAxis Bank Magnus Credit CardSBI Card PULSE
Annual Fee₹12,500₹1,499
Joining Fee₹12,500₹1,499
Fee Waiver Spend₹25,00,000₹2,00,000
Base Reward Rate0.2%0.5%
Reward CurrencyEDGE Reward PointsSBI Reward Points
NetworkVisaVisa
Editor Rating8/107.2/10
Forex Markup3.5%3.5%

Accelerated Rewards

Axis Bank Magnus Credit Card

No accelerated rewards listed

SBI Card PULSE

  • 0.62% on Pharmacy & Chemists
  • 0.62% on Dining
  • 0.62% on Movies

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.

SBI Card PULSE

Pros

  • Complimentary Noise ColorFit Pulse Smartwatch worth up to ₹7,999 as a welcome gift.
  • Annual FITPASS PRO and Netmeds First memberships worth over ₹4,000.
  • High 2.5% reward rate (10 RP per ₹100) on pharmacies, chemists, dining, and movies.
  • 8 complimentary domestic lounge visits per year (2 per quarter).

Cons

  • Low base reward rate of 0.5% on non-accelerated categories.
  • Priority Pass membership does not include any complimentary international visits.
  • Milestone voucher of ₹1,500 requires a high annual spend of ₹4 Lakhs.

Our Verdict

Axis Bank Magnus Credit Card edges ahead overall with a stronger combination of rewards and value. However, SBI Card PULSE 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 SBI Card PULSE if

Offers dedicated memberships for gyms (FITPASS) and online medicine (Netmeds) along with high rewards on pharmacy spends.

Frequently Asked Questions

Which is better: Axis Bank Magnus Credit Card or SBI Card PULSE?
Axis Bank Magnus Credit Card edges ahead overall with a stronger combination of rewards and value. However, SBI Card PULSE 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 SBI Card PULSE?
Axis Bank Magnus Credit Card has an annual fee of ₹12,500, while SBI Card PULSE has an annual fee of ₹1,499. Axis Bank Magnus Credit Card offers a fee waiver on ₹25,00,000 annual spend. SBI Card PULSE offers a fee waiver on ₹2,00,000 annual spend.
Which card has better rewards: Axis Bank Magnus Credit Card or SBI Card PULSE?
Axis Bank Magnus Credit Card offers a base reward rate of 0.2%. SBI Card PULSE offers 0.5% base rewards with bonuses on Pharmacy & Chemists and Dining. The better choice depends on your primary spending categories.
Can I have both Axis Bank Magnus Credit Card and SBI Card PULSE?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. Axis Bank Magnus Credit Card and SBI Card PULSE can complement each other if they cover different reward categories.
Which card is better for beginners: Axis Bank Magnus Credit Card or SBI Card PULSE?
For beginners, SBI Card PULSE may be more approachable with a lower annual fee of ₹1,499. However, evaluate based on your expected spending pattern rather than fee alone.

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