Axis Bank Credit Cards Devaluation 2026
If you use an Axis Bank credit card, there are several changes you should know about. Between 28 August and 15 November 2026, Axis Bank is revising domestic airport lounge access, Dynamic Currency Conversion (DCC) charges, reward eligibility, late payment fees and lifestyle benefits across multiple credit cards. The bank will also introduce a consent-based renewal process for complimentary memberships on eligible premium cards.
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.
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. DCC is a facility that allows you to pay for international transactions in Indian Rupees (INR) instead of the local currency.
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
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 below ₹50,000.
Reward Eligibility Reduced for Select Transactions
Effective 28 August 2026
Axis Bank has expanded the list of 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 be excluded from spend-based fee waiver 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, premium cardholders could use their Priority Pass for domestic airport lounge access in India. From now, 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.
This change applies to:
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.
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
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.
Milestone Benefit
The milestone benefit on the Axis Bank Select Credit Card remains unchanged at ₹3 lakh annual spending. 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 offered with select 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 for 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 customers 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.
What This Means
While not every revision applies to every card, these changes could affect the value you get from your Axis Bank credit card, especially if you rely on lounge access, travel benefits or rewards. If you're unfamiliar with how credit card devaluations work or what they mean for cardholders, you can also read our guide on Credit Card Devaluations: What's Changing in 2026. Stay tuned to SaveSage for the latest credit card updates, devaluations, reward changes and expert guides to help you maximise your card benefits.
FAQs
1. Which Axis Bank credit cards are devalued in 2026 July?
The 2026 Axis Bank credit card devaluation affects Magnus, Magnus for Burgundy, Burgundy Private – The One Card, Reserve, Olympus, PRIMUS, Select, Privilege, MY ZONE and NEO Credit Cards. However, not every revision applies to every card, so it's important to review the changes specific to your card.
2. What are the biggest changes in the Axis Bank credit card devaluation?
The key updates include:
Priority Pass can no longer be used for domestic airport lounge access.
DCC charges have increased on select Axis Bank credit cards.
Late payment fees above ₹50,000 have increased.
Gift card purchases, tolls and road fees no longer earn rewards on applicable cards.
Lifestyle benefits now require higher spending on select cards.
Complimentary memberships now require cardholder consent before renewal.
3. Can I still use Priority Pass for domestic airport lounges access?
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 increased their 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. What is Dynamic Currency Conversion (DCC)?
Dynamic Currency Conversion (DCC) is a service that allows international transactions to be billed in Indian Rupees (INR) instead of the local currency. According to Axis Bank, DCC applies when a merchant or ATM converts a foreign currency transaction into INR. Accepting DCC may increase the overall transaction cost.
6. When do the new Axis Bank credit card changes come into effect?
The changes are being introduced in phases:
28 August 2026: DCC charges, domestic lounge access, reward exclusions, payment allocation and late payment fee changes
1 September 2026: Burgundy Private – The One Card annual fee revision
1 November 2026: Lifestyle benefit eligibility updates
15 November 2026: Consent-based renewal for complimentary memberships
