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Side-by-Side Comparison|Updated March 2026

CASHBACK SBI Card vs Axis Bank Magnus for Burgundy Credit Card

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

SBI Card

CASHBACK SBI Card

8.5/10
Annual Fee₹999
Base Rewards1%
NetworkVisa
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Axis Bank

Axis Bank Magnus for Burgundy Credit Card

9.2/10
Annual Fee₹30,000
Base Rewards1.2000000000000002%
NetworkMastercard
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Feature-by-Feature Comparison

FeatureCASHBACK SBI CardAxis Bank Magnus for Burgundy Credit Card
Annual Fee₹999₹30,000
Joining Fee₹999₹30,000
Fee Waiver Spend₹2,00,000₹30,00,000
Base Reward Rate1%1.2000000000000002%
Reward CurrencyCashbackEDGE Reward Points
NetworkVisaMastercard
Editor Rating8.5/109.2/10
Forex Markup3.5%3.5%

Accelerated Rewards

CASHBACK SBI Card

  • 0% on Online Spends

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)

Pros & Cons

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.

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.

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 CASHBACK SBI Card if

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

Choose Axis Bank Magnus for Burgundy Credit Card if

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

Frequently Asked Questions

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