Axis vs Yes Bank Credit Cards: ₹25 Lakh Waiver Against ₹3 Lakh
25 October 2026 · BestCard Editorial Team
The cleanest way into this pair is the fee waiver. Axis Bank waives the Magnus fee at ₹25 lakh of annual spend. Yes Bank's Reserv waives at ₹3 lakh. The cards are aimed at the same kind of traveller but ask very different amounts of that traveller.
Flagship travel cards
The Axis Magnus charges ₹12,500 to join and renew, with 12 EDGE Reward points per ₹200, transfers to airline and hotel partners at 5:2, unlimited lounges with four guest visits a year and a 2% forex markup. Income needed is ₹2 lakh a month.
The Yes Reserv charges ₹2,499, also needs ₹2 lakh monthly income, and offers unlimited domestic and international lounge visits with a 2% forex markup (raised from 1.75% on 15 June 2026) and an 8% rate on travel. It is not documented as having partner transfers on our list, which is the main thing Magnus has that Reserv does not.
Yes Bank's Marquee sits between them: ₹9,999 to join, a 1% forex markup, 24 domestic visits and unlimited international visits.
Reserv wins on fee, and Magnus wins on rewards flexibility. For someone who will not reach ₹25 lakh a year, Reserv is the arithmetic choice.
Mid-tier lounge cards
The Axis Select is ₹3,000, waived at ₹8 lakh, with two domestic lounge visits a quarter on ₹50,000 spend, up to 12 international visits a year and a 3.5% forex markup. The Privilege is ₹1,500, waived at ₹5 lakh, with two domestic visits a quarter and no spend condition.
Yes Bank's YES FIRST Preferred is ₹999, waived at ₹2.5 lakh, with two domestic visits a quarter, four international visits and a 2% forex markup. The ELITE+ is ₹999 with a 3% markup and 1.5% on online shopping.
Yes undercuts Axis on price and forex at this tier. Axis offers more international lounge visits on the Select and a bigger ecosystem.
Entry-level and UPI cards
Axis's ACE is a ₹499 RuPay card with 5% on utilities, 4% on dining and travel and 1.5% on everything else. The Flipkart Axis pays 5% on Flipkart, capped at ₹4,000 a quarter. Yes Bank's Klick RuPay is lifetime free with 1% on UPI spends, the Zagg RuPay is free with up to eight domestic lounge visits a year on ₹50,000 prior-quarter spend, and the AI Inside is free with zero forex. Axis leads on reward rates and Yes on fee-free options.
Ultra-premium
Axis has the Reserve at ₹50,000, the Olympus at ₹20,000 (1.8% forex) and the Primus (invite-only). Yes has the Private at ₹50,000 to join and ₹10,000 a year, with a 0.5% forex markup, but it requires a ₹5 crore relationship. The Olympus sits between them on fee, though its listing says it was launched mainly to migrate former Citi Prestige cardholders.
Which should you pick
If you spend between ₹3 lakh and ₹25 lakh a year and travel often, the Yes Reserv's fee is easier to recover. If you want a points currency that transfers to airlines, Magnus is the stronger product. If you want lounges at the lowest price, YES FIRST Preferred. For UPI cashback, Axis ACE.
Further reading
See the Axis Bank credit cards guide and the Yes Bank credit cards guide. For a related comparison, read Yes Bank vs Kotak credit cards.
Related reading
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