Axis Bank Credit Card Devaluation 2026

The affected cards include Axis Bank Magnus, Magnus for Burgundy, Burgundy Private - The One Card, Reserve, Olympus, PRIMUS, Select, Privilege, MY ZONE and NEO Credit Cards. 

If you're unfamiliar with how these revisions affect your card's value, you can also read our guide on Credit Card Devaluations: What's Changing in 2026.

Key Highlights of Axis Bank Credit Card Devaluation 2026

• Priority Pass will no longer work for domestic airport lounge access in India on eligible premium cards.

• DCC markup has been increased across multiple Axis Bank credit cards.

• Late payment fee for outstanding balances above ₹50,000 has increased from ₹1,200 to ₹1,300. 

• Gift card purchases will continue to earn no rewards and will now be classified under a separate Gift Card category.

• Toll payments, bridge fees and road fees will no longer earn rewards on applicable cards.

• Select lifestyle benefits will require higher spends to unlock District, BookMyShow and milestone benefits. 

• Renewal of complimentary memberships on eligible premium cards will now require your consent. 

DCC Charges Revised Across Axis Bank Credit Cards

Effective 28 August 2026

Axis Bank has revised Dynamic Currency Conversion (DCC) markup charges across multiple credit cards.

Before this revision, the DCC markup on all affected Axis Bank credit cards was 1.5%. From 28 August 2026, the revised rates will be:

• Axis Bank Magnus Credit Card: 2%

• Axis Bank Magnus for Burgundy Credit Card: 2%

• Axis Bank Olympus Credit Card: 1.8%

• Other eligible Axis Bank credit cards: 3.5% 

Cardholders should avoid accepting DCC conversion during international transactions where possible, as it can increase the overall transaction cost.

DCC applies when a merchant or ATM outside India converts a foreign currency transaction into Indian Rupees instead of processing it in the local currency.

Late Payment Fee Increased for Higher Outstanding Balances

Effective 28 August 2026

Axis Bank has increased the late payment fee for outstanding balances above ₹50,000.

The late payment fee for balances above ₹50,000 has been revised from ₹1,200 to ₹1,300. There are no changes to the late payment charges for lower outstanding balances.

Reward Eligibility Reduced for Select Transactions

Effective 28 August 2026

Axis Bank has expanded reward exclusions across applicable credit cards. 

Toll payments, bridge fees and road fees will no longer earn Reward Points or cashback on applicable cards. 

Gift card purchases:

• No Reward Points or cashback will be earned.

• These transactions will continue to stay outside spend-based fee waiver calculations and milestone benefits, wherever applicable.

• They will now be shown under a separate Gift Card spend category instead of the Wallet category.

Payment Allocation Order Revised

Effective 28 August 2026

Axis Bank has revised how payments towards outstanding credit card balances will be adjusted.

This means payments will first clear applicable fees and charges before being adjusted towards other outstanding components in the following order:

• Fees and charges, including applicable taxes

• EMIs

• Interest charges

• Retail purchase transactions

• Cash advances

Domestic Lounge Access Rules Changed

Effective 28 August 2026

Axis Bank has changed the way eligible premium cardholders can access domestic airport lounges in India.

Earlier, eligible premium cardholders could use their Priority Pass for domestic airport lounge access in India. Going forward, Priority Pass will no longer be valid for domestic airport lounges in India.

Cardholders will need to use their physical Axis Bank credit card along with a valid boarding pass to access domestic lounges. If lounge access is one of your biggest priorities, check our list of the Best Credit Cards for Airport Lounge Access in 2026 before choosing your next card.

This change applies to:

• Axis Bank Magnus Credit Card

• Axis Bank Magnus for Burgundy Credit Card

• Axis Bank Burgundy Private - The One Card

• Axis Bank Reserve Credit Card

• Axis Bank Olympus Credit Card

• Axis Bank PRIMUS Credit Card

• Axis Bank Select Credit Card 

Lifestyle Benefit Updated

Effective 1 November 2026

Axis Bank has revised the eligibility criteria for select lifestyle benefits across multiple credit cards. Some benefits will now require a minimum spend to unlock, while the Select Credit Card will also see changes to milestone spend calculations.

District Buy 1 Get 1 Offer

Cardholders will now need to spend ₹25,000 in the previous three months to unlock the District Buy 1 Get 1 offer on: 

• Axis Bank Select Credit Card

• Axis Bank Privilege Credit Card

• Axis Bank MY ZONE Credit Card

BookMyShow Offer

Axis Bank NEO Credit Card holders will now need to spend ₹25,000 in the previous 3 months to become eligible for the BookMyShow offer.

Select Credit Card Milestone Benefit

Select Credit Card holders will continue to unlock milestone benefits after spending ₹3 lakh in an anniversary year. However, the following spend categories will no longer count towards this milestone:

• Insurance

• Rent

• Fuel

• Educational services

• Utilities and telecom

• Wallet spends

• Gold and jewellery

• Government services

• Gift cards

Complimentary Membership Renewal Will Require Consent

Effective 15 November 2026

Axis Bank will introduce a consent-based renewal process for select complimentary memberships linked to eligible premium credit cards. Going forward, eligible cardholders will need to explicitly approve the renewal of these benefits before they are renewed.

The change applies to complimentary benefits such as:

• Priority Pass membership

• Hotel memberships

This change applies to the following cards: 

• Axis Bank Magnus Credit Card

• Axis Bank Magnus for Burgundy Credit Card

• Axis Bank Burgundy Private - The One Card

• Axis Bank Reserve Credit Card

• Axis Bank Olympus Credit Card

• Axis Bank Select Credit Card 

Burgundy Private - The One Card Annual Fee Revised

Effective 1 September 2026

Axis Bank has revised the annual fee applicable to Burgundy Private - The One Card for customers who do not maintain the required Total Relationship Value (TRV).

The card will continue to remain complimentary for Burgundy Private clients maintaining a TRV of ₹5 crore or above. However, if the TRV falls below ₹5 crore, the annual fee will increase from ₹50,000 to ₹1 lakh plus GST.

Axis Bank Credit Card Devaluation 2026: Card-Wise Impact

FAQs

1. Which Axis Bank credit cards are affected by the 2026 devaluation?

The latest revisions affect several Axis Bank credit cards, including Magnus, Magnus for Burgundy, Burgundy Private - The One Card, Reserve, Olympus, PRIMUS, Select, Privilege, MY ZONE and NEO. However, not every change applies to every card.

2. What are the biggest changes in the Axis Bank credit card devaluation?

The key changes include revised domestic lounge access rules, higher DCC charges on select cards, a higher late payment fee for balances above ₹50,000, expanded reward exclusions, revised lifestyle benefit eligibility and consent-based renewal for select complimentary memberships.

3. Can I still use Priority Pass for domestic airport lounges?

No. From 28 August 2026, eligible Axis Bank premium cardholders will no longer be able to use Priority Pass for domestic airport lounge access in India. Instead, you'll need to present your eligible Axis Bank credit card along with a valid boarding pass.

4. Which Axis Bank credit cards have higher DCC charges?

From 28 August 2026, the DCC markup on the Magnus and Magnus for Burgundy Credit Cards will increase to 2%, the Olympus Credit Card will increase to 1.8% and most other affected Axis Bank credit cards will have a 3.5% DCC markup.

5. Will gift card purchases still earn rewards on Axis Bank credit cards?

No. Gift card purchases will continue to earn no Reward Points or cashback on applicable Axis Bank credit cards. They will also remain excluded from eligible spend calculations and will now appear under a separate Gift Card spend category instead of the Wallet category.