Quick Verdict

  • For everyday spending, the Times Black ICICI Bank Credit Cardⓘ wins with a higher base reward rate of 3% compared to 2.4% on the Axis Bank Magnus Credit Cardⓘ.
  • For travel and lounge access, Times Black ICICI Bank Credit Cardⓘ also leads with unlimited international lounge access and additional premium benefits.
  • The Axis Bank Magnus Credit Cardⓘ is cheaper to hold with an annual fee of Rs 12,500 versus Rs 20,000 on the Times Black ICICI Bank Credit Cardⓘ.
  • Choose Axis Bank Magnus Credit Cardⓘ if you want a lower fee card with solid rewards and select luxury benefits; pick Times Black ICICI Bank Credit Cardⓘ if you prioritize maximum rewards, unlimited lounge access, and extensive premium perks despite the higher fee.

Side by Side

DetailAxis Bank Magnus Credit CardⓘTimes Black ICICI Bank Credit Cardⓘ
Annual feeRs 12,500Rs 20,000
Joining feeRs 12,500Rs 20,000
Fee waiver on spendNoneNone
Reward rate2.4%3%
Reward typepointspoints
Domestic loungeUnlimitedUnlimited
International lounge8 per yearUnlimited
Forex markup2%2%
Best suited forpremium, travel, lounge, forex, dining, shoppingpremium, travel, lounge, forex, rewards

Rewards Compared

The Axis Bank Magnus Credit Cardⓘ offers Rs 240 back on Rs 10,000 spent, reflecting its 2.4% base reward rate. This card focuses on premium benefits including dining and shopping, making it attractive for users who value curated luxury experiences. Its welcome benefit of a Rs 12,500 gift voucher adds value upfront but does not affect ongoing rewards.

In contrast, the Times Black ICICI Bank Credit Cardⓘ delivers Rs 300 back on Rs 10,000 spent, thanks to its 3% base reward rate. It also offers 3% rewards specifically on travel, dining, and online spends, making it highly rewarding for lifestyle and travel enthusiasts. The card’s welcome benefits include Times Prime memberships and vouchers worth over Rs 20,000, enhancing its appeal for frequent spenders in these categories.

Fees Compared

The Axis Bank Magnus Credit Cardⓘ charges a joining and annual fee of Rs 12,500 each, with no fee waiver on spend. The Times Black ICICI Bank Credit Cardⓘ demands a higher joining and annual fee of Rs 20,000 each, also without any waiver. The Magnus card’s fee is Rs 7,500 less, which means you need to spend approximately Rs 5.21 lakh annually on Magnus to cover the fee through rewards, compared to Rs 6.67 lakh on Times Black ICICI Bank Credit Cardⓘ.

However, the Times Black ICICI Bank Credit Cardⓘ’s higher reward rate means you must spend about Rs 12.5 lakh more annually for its extra rewards to justify the Rs 7,500 fee difference. This break-even point is significant and suggests that only very high spenders will benefit from the Times Black ICICI Bank Credit Cardⓘ despite its superior rewards.

Which One Should You Pick

Choose the Axis Bank Magnus Credit Cardⓘ if you want a premium card with a lower annual fee and solid rewards on dining, travel, and shopping. It suits users who value curated luxury benefits like EazyDiner Prime membership and can leverage the welcome gift voucher. This card is ideal if you spend moderately and want good lounge access without the highest fees.

Opt for the Times Black ICICI Bank Credit Cardⓘ if you are a heavy spender seeking the highest reward rates on travel, dining, and online spends, plus unlimited domestic and international lounge access. Its extensive premium benefits, including Priority Pass membership and Zomato Gold, make it perfect for frequent travelers and lifestyle enthusiasts who can justify the higher fee with their spend.

Skip the Axis Bank Magnus Credit Cardⓘ if you want maximum rewards and unlimited lounge access and are willing to pay a higher fee. Avoid the Times Black ICICI Bank Credit Cardⓘ if your annual spend is below Rs 6.67 lakh or you do not need unlimited international lounge access, as the fee may outweigh the benefits.

What to Check Before You Apply

  • Confirm if the lounge access has any quarterly spend gates or visit limits, especially for the Axis Bank Magnus Credit Cardⓘ.
  • Understand the redemption value and process for reward points, as these can affect the effective returns.
  • Calculate the fee waiver or break-even spend carefully to ensure the card’s benefits justify the cost.
  • Check the forex markup charges of 2% on both cards for foreign currency transactions.
  • Verify which airports and lounges are accessible with the cards’ lounge memberships, especially for international travel.

FAQ

What is the forex markup fee on these cards?+
Both the Axis Bank Magnus Credit Cardⓘ and the Times Black ICICI Bank Credit Cardⓘ charge a forex markup of 2% on foreign currency transactions.
Are there any fee waivers available on either card?+
Neither card offers a fee waiver based on annual spend or other criteria; the joining and annual fees are fixed.
How many international lounge visits are included?+
The Axis Bank Magnus Credit Cardⓘ offers 8 international lounge visits per year, while the Times Black ICICI Bank Credit Cardⓘ provides unlimited international lounge access.
Which card offers better rewards on travel and dining?+
The Times Black ICICI Bank Credit Cardⓘ offers a higher base reward rate of 3% and category-specific 3% rewards on travel and dining, outperforming the Axis Bank Magnus Credit Cardⓘ which has a 2.4% base rate.
Is the welcome benefit valuable on both cards?+
Yes, the Axis Bank Magnus Credit Cardⓘ offers a gift voucher worth Rs 12,500, while the Times Black ICICI Bank Credit Cardⓘ provides Times Prime memberships and vouchers worth over Rs 20,000, both adding upfront value.