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Side-by-Side Comparison|Updated March 2026

Swiggy HDFC Bank 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

Swiggy HDFC Bank Credit Card

8.5/10
Annual Fee₹500
Base Rewards1%
NetworkMastercard
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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

FeatureSwiggy HDFC Bank Credit CardAxis Bank Magnus Credit Card
Annual Fee₹500₹12,500
Joining Fee₹500₹12,500
Fee Waiver Spend₹2,00,000₹25,00,000
Base Reward Rate1%0.2%
Reward CurrencyCashbackEDGE Reward Points
NetworkMastercardVisa
Editor Rating8.5/108/10
Forex Markup3.5%3.5%

Accelerated Rewards

Swiggy HDFC Bank Credit Card

  • 0% on Swiggy (Food, Instamart, Di... — 1500 pts/month
  • 0% on Online Spends (Select MCCs) — 1500 pts/month

Axis Bank Magnus Credit Card

No accelerated rewards listed

Pros & Cons

Swiggy HDFC Bank Credit Card

Pros

  • 10% cashback on Swiggy (Food, Instamart, Dineout, Genie) capped at ₹1,500/month
  • 5% cashback on online shopping across major platforms like Amazon, Flipkart, and Myntra
  • Complimentary 3-month Swiggy One membership as a welcome benefit
  • Cashback is directly credited to the credit card statement

Cons

  • No complimentary airport lounge access
  • Monthly cashback capping of ₹1,500 on Swiggy and ₹1,500 on online spends
  • Excludes cashback on fuel, rent, EMI, and jewelry transactions

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

Swiggy HDFC Bank 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 Swiggy HDFC Bank Credit Card if

High 10% cashback on food delivery and groceries via Instamart makes it the best card for the Swiggy ecosystem.

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: Swiggy HDFC Bank Credit Card or Axis Bank Magnus Credit Card?
Swiggy HDFC Bank 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 Swiggy HDFC Bank Credit Card and Axis Bank Magnus Credit Card?
Swiggy HDFC Bank Credit Card has an annual fee of ₹500, while Axis Bank Magnus Credit Card has an annual fee of ₹12,500. Swiggy HDFC Bank Credit Card offers a fee waiver on ₹2,00,000 annual spend. Axis Bank Magnus Credit Card offers a fee waiver on ₹25,00,000 annual spend.
Which card has better rewards: Swiggy HDFC Bank Credit Card or Axis Bank Magnus Credit Card?
Swiggy HDFC Bank Credit Card offers a base reward rate of 1% with accelerated rewards on Swiggy (Food, Instamart, Di... and Online Spends (Select MCCs). Axis Bank Magnus Credit Card offers 0.2% base rewards. The better choice depends on your primary spending categories.
Can I have both Swiggy HDFC Bank Credit Card and Axis Bank Magnus Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. Swiggy HDFC Bank Credit Card and Axis Bank Magnus Credit Card can complement each other if they cover different reward categories.
Which card is better for beginners: Swiggy HDFC Bank Credit Card or Axis Bank Magnus Credit Card?
For beginners, Swiggy HDFC Bank Credit Card may be more approachable with a lower annual fee of ₹500. However, evaluate based on your expected spending pattern rather than fee alone.

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