Vyaya
Side-by-Side Comparison|Updated March 2026

SBI Card MILES ELITE 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.

SBI Card

SBI Card MILES ELITE

8.2/10
Annual Fee₹4,999
Base Rewards1%
NetworkMastercard
View Full Details

Axis Bank

Axis Bank Magnus Credit Card

8/10
Annual Fee₹12,500
Base Rewards0.2%
NetworkVisa
View Full Details

Feature-by-Feature Comparison

FeatureSBI Card MILES ELITEAxis Bank Magnus Credit Card
Annual Fee₹4,999₹12,500
Joining Fee₹4,999₹12,500
Fee Waiver Spend₹15,00,000₹25,00,000
Base Reward Rate1%0.2%
Reward CurrencyTravel CreditsEDGE Reward Points
NetworkMastercardVisa
Editor Rating8.2/108/10
Forex Markup3.5%3.5%

Pros & Cons

SBI Card MILES ELITE

Pros

  • High 3% reward rate on travel spends (6 Travel Credits per ₹200).
  • 1:1 conversion ratio for Travel Credits to Air Miles and Hotel Points with major partners.
  • Unique spend-linked domestic lounge access (1 extra visit per ₹1 Lakh spend).
  • Low foreign currency markup of 1.99%, ideal for international travelers.

Cons

  • High annual fee of ₹4,999 with a steep waiver threshold of ₹15 Lakhs.
  • Lounge access is capped per quarter (2 visits), which may be restrictive for frequent flyers.
  • Air Accident insurance coverage was discontinued as of July 2025.

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

SBI Card MILES ELITE 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 SBI Card MILES ELITE if

High reward rates on flights and hotels with 1:1 mile conversion across multiple airlines.

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: SBI Card MILES ELITE or Axis Bank Magnus Credit Card?
SBI Card MILES ELITE 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 SBI Card MILES ELITE and Axis Bank Magnus Credit Card?
SBI Card MILES ELITE has an annual fee of ₹4,999, while Axis Bank Magnus Credit Card has an annual fee of ₹12,500. SBI Card MILES ELITE offers a fee waiver on ₹15,00,000 annual spend. Axis Bank Magnus Credit Card offers a fee waiver on ₹25,00,000 annual spend.
Which card has better rewards: SBI Card MILES ELITE or Axis Bank Magnus Credit Card?
SBI Card MILES ELITE offers a base reward rate of 1%. Axis Bank Magnus Credit Card offers 0.2% base rewards. The better choice depends on your primary spending categories.
Can I have both SBI Card MILES ELITE and Axis Bank Magnus Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. SBI Card MILES ELITE and Axis Bank Magnus Credit Card can complement each other if they cover different reward categories.
Which card is better for beginners: SBI Card MILES ELITE or Axis Bank Magnus Credit Card?
For beginners, SBI Card MILES ELITE may be more approachable with a lower annual fee of ₹4,999. However, evaluate based on your expected spending pattern rather than fee alone.

Related Comparisons

SBI Card MILES ELITE vs Axis Bank Atlas Credit CardAxis Bank Magnus Credit Card vs Axis Bank Atlas Credit Card

Explore More

SBI Card MILES ELITE Full ReviewAxis Bank Magnus Credit Card Full ReviewAll SBI Card CardsAll Axis Bank CardsBrowse All Credit CardsCredit Card Guides & Tips