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Side-by-Side Comparison|Updated March 2026

ICICI Bank Signature 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.

ICICI Bank

ICICI Bank Signature Credit Card

8.2/10
Annual Fee₹2,000
Base Rewards6.4%
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

FeatureICICI Bank Signature Credit CardAxis Bank Magnus Credit Card
Annual Fee₹2,000₹12,500
Joining Fee₹25,000₹12,500
Fee Waiver Spend₹50,000₹25,00,000
Base Reward Rate6.4%0.2%
Reward CurrencyHand-picked RewardsEDGE Reward Points
NetworkVisaVisa
Editor Rating8.2/108/10
Forex Markup3.5%3.5%

Pros & Cons

ICICI Bank Signature Credit Card

Pros

  • Industry-leading base reward rate of 8% (10 points per ₹100 spent).
  • Substantial welcome bonus of 30,000 points worth ₹24,000.
  • Complimentary golf rounds at premium courses in India and abroad.
  • Comprehensive concierge service (i-Assist) for travel and lifestyle needs.

Cons

  • Extremely high joining fee of ₹25,000.
  • International lounge visits via Priority Pass are chargeable.
  • Domestic lounge access requires a minimum spend of ₹35,000 in the previous quarter.

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

ICICI Bank Signature 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 ICICI Bank Signature Credit Card if

The 8% base reward rate provides exceptional value for those with high monthly retail spends.

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: ICICI Bank Signature Credit Card or Axis Bank Magnus Credit Card?
ICICI Bank Signature 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 ICICI Bank Signature Credit Card and Axis Bank Magnus Credit Card?
ICICI Bank Signature Credit Card has an annual fee of ₹2,000, while Axis Bank Magnus Credit Card has an annual fee of ₹12,500. ICICI Bank Signature Credit Card offers a fee waiver on ₹50,000 annual spend. Axis Bank Magnus Credit Card offers a fee waiver on ₹25,00,000 annual spend.
Which card has better rewards: ICICI Bank Signature Credit Card or Axis Bank Magnus Credit Card?
ICICI Bank Signature Credit Card offers a base reward rate of 6.4%. Axis Bank Magnus Credit Card offers 0.2% base rewards. The better choice depends on your primary spending categories.
Can I have both ICICI Bank Signature Credit Card and Axis Bank Magnus Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. ICICI Bank Signature Credit Card and Axis Bank Magnus Credit Card can complement each other if they cover different reward categories.
Which card is better for beginners: ICICI Bank Signature Credit Card or Axis Bank Magnus Credit Card?
For beginners, ICICI Bank Signature Credit Card may be more approachable with a lower annual fee of ₹2,000. However, evaluate based on your expected spending pattern rather than fee alone.

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