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Side-by-Side Comparison|Updated March 2026

SBI Card MILES ELITE 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

SBI Card MILES ELITE

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

FeatureSBI Card MILES ELITEAxis Bank Magnus for Burgundy Credit Card
Annual Fee₹4,999₹30,000
Joining Fee₹4,999₹30,000
Fee Waiver Spend₹15,00,000₹30,00,000
Base Reward Rate1%1.2000000000000002%
Reward CurrencyTravel CreditsEDGE Reward Points
NetworkMastercardMastercard
Editor Rating8.2/109.2/10
Forex Markup3.5%3.5%

Accelerated Rewards

SBI Card MILES ELITE

No accelerated rewards listed

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

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 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, SBI Card MILES ELITE 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 for Burgundy Credit Card if

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

Frequently Asked Questions

Which is better: SBI Card MILES ELITE 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, SBI Card MILES ELITE 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 for Burgundy Credit Card?
SBI Card MILES ELITE has an annual fee of ₹4,999, while Axis Bank Magnus for Burgundy Credit Card has an annual fee of ₹30,000. SBI Card MILES ELITE offers a fee waiver on ₹15,00,000 annual spend. Axis Bank Magnus for Burgundy Credit Card offers a fee waiver on ₹30,00,000 annual spend.
Which card has better rewards: SBI Card MILES ELITE or Axis Bank Magnus for Burgundy Credit Card?
SBI Card MILES ELITE offers a base reward rate of 1%. 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 SBI Card MILES ELITE and Axis Bank Magnus for Burgundy Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. SBI Card MILES ELITE and Axis Bank Magnus for Burgundy 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 for Burgundy 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.

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