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Side-by-Side Comparison|Updated March 2026

HDFC Bank Millennia Credit Card vs Axis Bank Magnus Credit Card

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

HDFC Bank

HDFC Bank Millennia Credit Card

8.5/10
Annual Fee₹1,000
Base Rewards1%
NetworkVisa
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Axis Bank

Axis Bank Magnus Credit Card

8/10
Annual Fee₹12,500
Base Rewards0.2%
NetworkVisa
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Feature-by-Feature Comparison

FeatureHDFC Bank Millennia Credit CardAxis Bank Magnus Credit Card
Annual Fee₹1,000₹12,500
Joining Fee₹1,000₹12,500
Fee Waiver Spend₹1,00,000₹25,00,000
Base Reward Rate1%0.2%
Reward CurrencyCashPointsEDGE Reward Points
NetworkVisaVisa
Editor Rating8.5/108/10
Forex Markup3.5%3.5%

Accelerated Rewards

HDFC Bank Millennia Credit Card

  • 0% on Special Rate

Axis Bank Magnus Credit Card

No accelerated rewards listed

Pros & Cons

HDFC Bank Millennia Credit Card

Pros

  • 5% cashback on 10 major online merchants including Amazon, Flipkart, and Swiggy
  • 1:1 redemption ratio for CashPoints against statement credit
  • Achievable annual fee waiver at ₹1 Lakh annual spend
  • 1,000 CashPoints welcome benefit effectively offsets the joining fee

Cons

  • Monthly cashback capped at ₹1,000 for the 5% category
  • Lounge access is now spend-based (₹1 Lakh per quarter)
  • Excludes rent, fuel, and government transactions from rewards

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.

Our Verdict

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

Choose HDFC Bank Millennia Credit Card if

High 5% cashback on popular platforms like Amazon, Flipkart, and Zomato.

Choose Axis Bank Magnus Credit Card if

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

Frequently Asked Questions

Which is better: HDFC Bank Millennia Credit Card or Axis Bank Magnus Credit Card?
HDFC Bank Millennia Credit Card edges ahead overall with a stronger combination of rewards and value. However, Axis Bank Magnus Credit Card could be the better pick if its specific category strengths match your spending habits.
What is the annual fee difference between HDFC Bank Millennia Credit Card and Axis Bank Magnus Credit Card?
HDFC Bank Millennia Credit Card has an annual fee of ₹1,000, while Axis Bank Magnus Credit Card has an annual fee of ₹12,500. HDFC Bank Millennia Credit Card offers a fee waiver on ₹1,00,000 annual spend. Axis Bank Magnus Credit Card offers a fee waiver on ₹25,00,000 annual spend.
Which card has better rewards: HDFC Bank Millennia Credit Card or Axis Bank Magnus Credit Card?
HDFC Bank Millennia Credit Card offers a base reward rate of 1% with accelerated rewards on Special Rate. Axis Bank Magnus Credit Card offers 0.2% base rewards. The better choice depends on your primary spending categories.
Can I have both HDFC Bank Millennia Credit Card and Axis Bank Magnus Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. HDFC Bank Millennia Credit Card and Axis Bank Magnus Credit Card can complement each other if they cover different reward categories.
Which card is better for beginners: HDFC Bank Millennia Credit Card or Axis Bank Magnus Credit Card?
For beginners, HDFC Bank Millennia Credit Card may be more approachable with a lower annual fee of ₹1,000. However, evaluate based on your expected spending pattern rather than fee alone.

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