Axis Bank Credit Card Changes 2026: Every Revision from August to November, Explained

The notifications cover entry and mid-tier cards (MyZone, Neo, Privilege, Select), super-premium variants (Magnus, Magnus for Burgundy, Reserve, Olympus), and Burgundy Private – The One Card, alongside a generic notification that applies across the Axis Bank credit card portfolio.

This breakdown is based on the ten card-level notification documents Axis Bank issued. Where a change is not mentioned for a particular card, we say so rather than assuming it doesn't apply — several of these documents are silent on items the generic notification does cover.

Changes That Apply to Every Card

Four revisions appear in essentially every notification document. Read these first; the card-by-card table below only lists what is specific to each variant.

Effective 28 August 2026:

1. Late payment fee increased for outstanding balances above ₹50,000 — now ₹1,300. Lower slabs unchanged.
2. Payment allocation order standardised — payments clear fees and charges first, then EMIs, interest, purchases, and cash advances last.
3. Gift card purchases reclassified out of "Wallet" into a separate "Gift Card" spend category, and remain excluded from rewards. (The exact scope of exclusion varies by card — see the table further down.)
4. No rewards on Bridge Fees, Road Fees, and Tolls.

Card-by-Card Summary

¹ The Burgundy Private and Reserve notifications contain no DCC clause. The generic Axis Bank notification revises DCC to 3.5%, and it is unclear whether it applies to these cards by default. Confirm against the Most Important Terms and Conditions (MITC) before assuming either way.

² These notifications are silent on annual fees. Silence is not confirmation that fees are unchanged — check the current MITC for your variant.

³ The Olympus notification states the markup is "revised to 1.8%" without specifying the previous rate. Every other card document states "from 1.5%"; Olympus does not.

Phase 1 — Effective 28 August 2026

Dynamic Currency Conversion (DCC) markup increased

DCC markup applies when an overseas merchant or website bills you in INR instead of the local currency. Axis Bank has revised this markup across most of its portfolio:

• Select, Privilege, MyZone, Neo, and the generic notification: 1.5% → 3.5%
• Magnus and Magnus for Burgundy: 1.5% → 2.0%
• Olympus: 1.8% (previous rate not stated in the notification)
• Reserve and Burgundy Private – The One: no DCC clause in their card-level notifications

What is DCC, and how is it different from forex markup? Forex markup is charged by your issuer on any transaction settled in a foreign currency. DCC is a separate markup that applies when the merchant converts the bill to INR at the point of sale and you accept that conversion. The two are distinct charges, and DCC is avoidable: when a terminal or checkout page offers you a choice, always pay in the local currency.

Priority Pass no longer valid for domestic lounges

For the six cards whose notifications address lounge access — Burgundy Private – The One, Magnus, Magnus for Burgundy, Reserve, Olympus, and Select — Priority Pass will not be accepted at domestic airport lounges in India from 28 August 2026.

• Domestic lounges in India: present the Axis Bank credit card itself, along with your boarding pass, at the lounge reception.
• International lounges: Priority Pass continues to work, presented with your boarding pass.
• Important nuance: eligible lounges at Indian international terminals after immigration are treated as international lounges and can still be accessed with Priority Pass.

The MyZone, Neo, Privilege, and generic notifications do not mention lounge access at all.

New payment allocation order

When you pay towards your outstanding balance, the payment is now applied in a defined sequence:

1. Applicable fees and charges (including taxes)
2. EMIs
3. Interest charges
4. Purchase transactions
5. Cash advances

Practically, this means a partial payment clears the most expensive-to-carry items last. If you are carrying both an EMI and a revolving purchase balance, the purchase balance is settled after the EMI.

Late payment fee increased above ₹50,000

This is a fee increase, not a cap. The revised slab structure:

A drafting ambiguity worth noting: the notification's prose says the revised fee of ₹1,300 applies to balances "of INR 50,000 and above," but the accompanying table places ₹10,001–₹50,000 in the ₹1,200 slab and only amounts above ₹50,000 at ₹1,300. At exactly ₹50,000, the two readings conflict. We've asked Axis Bank for clarification and will update this piece if we receive one.

Gift cards, tolls, and reward exclusions

Gift card purchases move out of the "Wallet" spend category into a dedicated "Gift Card" category. They continue to earn no rewards — but the further exclusions differ by card, and this detail is frequently reported inaccurately:

Separately, no rewards or cashback will be earned on Bridge Fees, Road Fees, and Tolls across all cards in the notification set.

Phase 2 — Effective 1 September 2026

Burgundy Private – The One Card: annual fee doubled

• The card remains complimentary for Burgundy Private clients maintaining a Total Relationship Value (TRV) of ₹5 Crore and above, excluding demat holdings.
• If TRV falls below ₹5 Crore, a revised annual fee of ₹1 Lakh + GST applies — up from ₹50,000.
• How it's assessed: TRV is checked for the month prior to your card anniversary month, and the applicable fee is charged in the anniversary month.

Axis Bank directs cardholders to the MITC for the full fee details and to a separate document for how TRV is calculated.

Phase 3 — Effective 1 October 2026

Axis Select: excluded categories no longer count towards the milestone

The Select card's annual milestone remains ₹3 Lakh in spends within an anniversary year, unlocking:

• 6 additional international lounge visits
• 6 additional golf rounds
• Priority Pass renewal for the next anniversary year

What changes is the denominator. From 1 October 2026, spends in merchant categories that already earn no reward points will no longer count towards the ₹3 Lakh threshold:

• Insurance
• Rent
• Fuel
• Educational services
• Utilities & telecom
• Wallet
• Gold / Jewellery
• Government services
• Gift card

For anyone who was hitting ₹3 Lakh partly through rent or insurance payments, the effective spend requirement on qualifying categories rises substantially.

Phase 4 — Effective 1 November 2026

Movie BOGO offers now require a rolling spend threshold

• MyZone, Privilege, and Select: to qualify for the "Buy One Get One" free District offer, you must have spent ₹25,000 in the previous 3 months.
• Neo: the same ₹25,000 / 3-month requirement applies to the BookMyShow BOGO offer.

The conditions, which are identical across all four notifications:

1. Newly issued cards: the minimum spend criterion is waived for the month of card issuance plus the following 3 calendar months.
2. Upgrades vs. additional cards: upgrading from one variant to another is not treated as a new issuance. However, taking an additional card alongside an existing card relationship is treated as new issuance. All spends are considered at account level.
3. Settlement, not transaction date: only transactions settled during the preceding 3 calendar months count. Settlement can take up to 5 working days, so a purchase near a month boundary may fall into a different window than you expect. Eligible spends are visible under billed transactions in Net Banking and Mobile Banking.
4. EMI transactions: counted only at the monthly EMI instalment amount billed in each statement cycle — not at the full transaction value.
5. Not eligible: payments towards interest, fees, charges, reversals, refunds, and other bank-related dues.

One thing the threshold does not do: meeting ₹25,000 unlocks eligibility for the movie benefit. The number of complimentary tickets or discounts, and the applicable benefit limits, continue to be governed by each card variant's own prevailing terms and conditions.

Phase 5 — Effective 15 November 2026

Complimentary memberships require explicit consent to renew

For Burgundy Private – The One, Magnus, Magnus for Burgundy, Reserve, Olympus, and Select, complimentary memberships linked to the card will renew only with the cardholder's explicit consent. Axis Bank says renewal details, including consent options, will be shared closer to each renewal date, and links to a list of applicable memberships.

This one cuts both ways. It stops unwanted auto-renewals — but it also means a membership you do value will lapse if you miss the consent prompt. Set a reminder around your renewal date.

What Cardholders Should Do

1. Never accept "pay in INR" abroad. With DCC moving to 3.5% on most Axis cards, accepting the merchant's INR conversion is now materially expensive. Choose the local currency every time.
2. Carry the card itself to domestic lounges. From 28 August, Priority Pass won't get you into a domestic lounge in India. Keep the physical Axis card accessible when flying domestically.
3. Track the 3-month rolling spend if you use the movie benefit. ₹25,000 across three months works out to roughly ₹8,300 a month — but because it's a rolling window based on settlement dates, front-loading spends in one month is safer than cutting it fine in the third.
4. Recalculate your Select milestone. If rent, insurance, fuel, or utility spends were carrying you to ₹3 Lakh, they won't from 1 October. Work out your qualifying-category spend for the past 12 months before assuming the milestone is still reachable.
5. Burgundy Private holders: check your TRV timing. The assessment window is the month before your card anniversary month, not a calendar-year snapshot.

Alternatives Worth Evaluating

If these revisions materially change the value of your Axis card:

• For overseas spends: cards with 0% or sub-2% forex markup, where DCC exposure matters less.
• For entertainment benefits: cards offering movie benefits without a rolling multi-month spend condition.
• For lounge access: cards with direct complimentary domestic lounge access rather than milestone-gated visits.

Frequently Asked Questions

When do the Axis Bank credit card changes take effect? In phases: 28 August 2026 (DCC, late fee, payment allocation, gift card reclassification, Priority Pass domestic lounge restriction), 1 September 2026 (Burgundy Private fee), 1 October 2026 (Select milestone exclusions), 1 November 2026 (movie BOGO spend threshold), and 15 November 2026 (membership consent).

Is the Axis Bank DCC markup now 3.5% on all cards? No. It is 3.5% for Select, Privilege, MyZone, Neo, and under the generic notification; 2.0% for Magnus and Magnus for Burgundy; and 1.8% for Olympus. The Reserve and Burgundy Private notifications do not mention DCC at all.

Can I still use Priority Pass at Indian airports? Yes, but only at international lounges — including eligible lounges at Indian international terminals after immigration. For domestic lounges in India, you must present the Axis credit card itself from 28 August 2026.

Has the Axis Bank late payment fee gone up? Yes, for outstanding balances above ₹50,000, where it rises to ₹1,300. All lower slabs are unchanged.

Will my Burgundy Private – The One Card now cost ₹1 Lakh? Only if your Total Relationship Value falls below ₹5 Crore (excluding demat) in the month before your card anniversary month. Above that threshold, the card remains complimentary.

Do gift card purchases still count towards my milestone spends? No. Gift card spends are excluded from rewards on every card in this set, and additionally from milestone benefits on MyZone, Privilege, and Select, and from spend-based fee waiver calculations on Magnus, Magnus for Burgundy, Reserve, Privilege, and Select.

Sources: Axis Bank credit card terms and conditions revision notifications for Burgundy Private – The One Card, Magnus, Magnus for Burgundy, Olympus, Reserve, Select, Privilege, MyZone, Neo, and the generic all-cards notification.

Disclaimer: This article summarises Axis Bank's official revision notifications as issued for the August–November 2026 changes. Where a notification is silent on a particular charge or benefit, we have said so rather than inferred. For binding terms, always refer to the Most Important Terms and Conditions (MITC) for your specific card variant. This is not financial advice.