Axis Bank credit card rule changes: Check new charges, revised lounge access and reward rules from August 28, 2026

Axis Bank is making several changes to the terms and charges applicable to its Axis Bank credit cards from August 28, 2026. The changes include a higher dynamic currency conversion markup, a revised late payment fee for higher outstanding balances, changes to MAGNUS Priority Pass access credit card rules and revised rules for gift card and toll-related spends. Cardholders should check these changes, especially if they frequently use Axis Bank credit cards for international transactions, airport lounge access or gift card purchases.

Axis Bank says that its dynamic currency conversion markup will be revised to 3.5% from 1.5%.

The MAGNUS credit card dynamic currency conversion markup will be revised to 2% from 1.5%.
Dynamic currency conversion is a financial service at international card terminals or ATMs that lets you pay in your home currency instead of the local currency.

Axis Bank is set to charge a late payment fee of Rs 1,300 on credit card outstanding balances of Rs 50,000 and above. The bank says that its late payment fee remains unchanged for outstanding balances below Rs 50,000.

Slab of outstanding amount Late payment fee charges
Amount < ₹500-Nil
Amount ₹501 to ₹5,000- ₹ 500
Amount ₹5,001 to ₹10,000- ₹ 750
Amount ₹10,001 to ₹50,000- ₹ 1,200
Amount > ₹50,000-₹ 1,300

When you make a credit card payment, it will be applied to various components of your outstanding debt in a specific order.

Payments will be modified first for fees and charges (including taxes), then it will be modified for equated monthly instalments (EMIs), interest charges, purchases and cash advances.

The Priority Pass card on the MAGNUS credit card will no longer be valid for entrance to domestic airport lounges in India effective August 28, 2026.

Also note that eligible airport lounges at Indian international terminals after immigration are considered international lounges and can be accessed using your Priority Pass.

Axis Bank says that its gift card purchases will continue to be excluded from the rewards category and will not earn rewards or cashback. The bank also clarified that gift card purchases will not contribute towards spends-based fee waiver calculations or milestone benefits.

However, the bank says that instead of being classified under the ‘Wallet’ spend category, such purchases will now be reclassified under a separate spend category called ‘Gift Card’.