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Side-by-Side Comparison|Updated March 2026

Axis Bank Magnus for Burgundy Credit Card vs CASHBACK SBI 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 for Burgundy Credit Card

9.2/10
Annual Fee₹30,000
Base Rewards1.2000000000000002%
NetworkMastercard
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SBI Card

CASHBACK SBI Card

8.5/10
Annual Fee₹999
Base Rewards1%
NetworkVisa
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Feature-by-Feature Comparison

FeatureAxis Bank Magnus for Burgundy Credit CardCASHBACK SBI Card
Annual Fee₹30,000₹999
Joining Fee₹30,000₹999
Fee Waiver Spend₹30,00,000₹2,00,000
Base Reward Rate1.2000000000000002%1%
Reward CurrencyEDGE Reward PointsCashback
NetworkMastercardVisa
Editor Rating9.2/108.5/10
Forex Markup3.5%3.5%

Accelerated Rewards

Axis Bank Magnus for Burgundy Credit Card

  • 1.2% on Monthly Spends > ₹1.5 Lakh — 2 pts/month
  • 1.2% on Travel EDGE Portal (< ₹2 Lakh) — 200000 pts/month
  • 1.2% on Travel EDGE Portal (> ₹2 Lakh)

CASHBACK SBI Card

  • 0% on Online Spends

Pros & Cons

Axis Bank Magnus for Burgundy Credit Card

Pros

  • Industry-leading 5:4 transfer ratio to 20+ airline and hotel partners.
  • Up to 24% value-back on travel bookings via the Travel EDGE portal.
  • Unlimited domestic and international lounge access with 4 guest visits annually.
  • 8 complimentary airport meet-and-greet services per calendar year.

Cons

  • High eligibility barrier requiring Axis Burgundy relationship status.
  • Strict spend-based criteria (₹50k in 3 months) for domestic lounge access.
  • Significant list of reward exclusions including utilities, insurance, and gold.

CASHBACK SBI Card

Pros

  • Flat 5% cashback on almost all online spends without merchant restrictions.
  • 1% flat cashback on all offline spends and utility payments.
  • Cashback is auto-credited to the statement within 2 days of statement generation.
  • Simple annual fee waiver at ₹2 lakh annual spend.

Cons

  • Monthly cashback capped at ₹4,000 (₹2,000 online / ₹2,000 offline) from April 2026.
  • No complimentary domestic or international airport lounge access.
  • Extensive list of exclusions including rent, fuel, wallet loads, and government transactions.

Our Verdict

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

Choose Axis Bank Magnus for Burgundy Credit Card if

Optimized for monthly spends exceeding ₹1.5 Lakh with accelerated 14% reward rates.

Choose CASHBACK SBI Card if

Highest flat cashback rate of 5% across all e-commerce platforms like Amazon, Flipkart, and Myntra.

Frequently Asked Questions

Which is better: Axis Bank Magnus for Burgundy Credit Card or CASHBACK SBI Card?
Axis Bank Magnus for Burgundy Credit Card edges ahead overall with a stronger combination of rewards and value. However, CASHBACK SBI 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 for Burgundy Credit Card and CASHBACK SBI Card?
Axis Bank Magnus for Burgundy Credit Card has an annual fee of ₹30,000, while CASHBACK SBI Card has an annual fee of ₹999. Axis Bank Magnus for Burgundy Credit Card offers a fee waiver on ₹30,00,000 annual spend. CASHBACK SBI Card offers a fee waiver on ₹2,00,000 annual spend.
Which card has better rewards: Axis Bank Magnus for Burgundy Credit Card or CASHBACK SBI Card?
Axis Bank Magnus for Burgundy Credit Card offers a base reward rate of 1.2000000000000002% with accelerated rewards on Monthly Spends > ₹1.5 Lakh and Travel EDGE Portal (< ₹2 Lakh). CASHBACK SBI Card offers 1% base rewards with bonuses on Online Spends. The better choice depends on your primary spending categories.
Can I have both Axis Bank Magnus for Burgundy Credit Card and CASHBACK SBI Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. Axis Bank Magnus for Burgundy Credit Card and CASHBACK SBI Card can complement each other if they cover different reward categories.
Which card is better for beginners: Axis Bank Magnus for Burgundy Credit Card or CASHBACK SBI Card?
For beginners, CASHBACK SBI Card may be more approachable with a lower annual fee of ₹999. However, evaluate based on your expected spending pattern rather than fee alone.

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