Axis Bank credit card changes from December 20, 2024: Rule changes in reward points, airport lounge access, others

Axis Bank recently said it has made some changes to its credit cards terms and conditions. The revisions include finance/interest charges, NACH payment failure charges, fees for cash payment, late payment charges, reward redemption fee, fee on online skill-based gaming among others. These revisions in rules and charges will be effective from December 20, 2024 onwards.

SBI credit card rule change: These SBI credit card customers will not get reward points on digital gaming platforms

Axis Bank credit card: Finance/Interest charges hiked

The finance or interest charges have been increased to 3.75% per month from 3.60% per month. This change above will be applicable on all Axis Bank retail credit cards, except the cards mentioned below, for which there will be no change to the existing finance/interest charge structure:

• Burgundy Private Credit Card
• Magnus Burgundy Credit Card
• Flipkart Secured Credit Card
• Magnus Credit Card
• IOCL Easy Credit Card
• MyZone Easy Credit Card
• Legacy Secured Credit Cards
• Olympus Credit Card
• Primus Credit Card
• Privilege Easy Credit Card
• Reserve Credit Card

Axis Bank credit card: NACH payment failure, auto debit reversal

The 2% fee for Standing Instruction (SI), NACH payment failure, auto debit reversal, or cheque return remains unchanged . The minimum fee will be increased to Rs 500 from the present Rs 450. The cap of Rs 1,500 will be removed.

This change will be applicable to all Axis Bank retail credit cards, except Burgundy Private Credit Card Olympus Credit Card Primus Credit Card.

Axis Bank credit card rule change: Fees for cash payment hiked

The fee for cash payments at bank branches will be increased to Rs. 175 from Rs. 100. This change will be applicable on all Axis Bank retail credit cards, except the Burgundy Private Credit Card, Primus Credit Card, Insta Easy Credit Card.

Axis Bank credit card: Late payment charges

The current late payment charges structure will continue to be applicable. Failure to pay the Minimum Amount Due (MAD) by the Payment Due Date (PDD) for two consecutive billing periods may result in an extra charge of Rs. 100.

This change will be applicable to all Axis Bank retail credit cards, except Burgundy Private Credit Card Olympus Credit Card Primus Credit Card.

Outstanding TAD fee

• Charge up to Rs. 500 - Nil
• Between Rs. 501 – Rs. 5,000 is Rs. 500
• Between Rs. 5,001 – Rs. 10,000 is Rs. 750
• Rs. 10,001 or higher is Rs. 1,200.

Axis Bank credit card: Reward redemption fee

A reward redemption fee of Rs. 199 is applicable when converting or transferring EDGE REWARD points or EDGE Miles to other partner loyalty programs. A reward redemption fee of Rs. 99 will be levied for each redemption transaction of EDGE REWARD points or EDGE Miles on the EDGE portal.

This change will be applicable to all Axis Bank retail credit cards, Burgundy Private Credit Card Olympus Credit Card, Primus Credit Card, Rewards Credit Card, Cashback Credit Card, Ikea Family Credit Card by Axis Bank Horizon Credit Card, Indianoil Axis Bank Premium Credit Card.

Axis Bank credit card: Priority pass
Some of the domestic airport lounge services will not be accessible by your priority pass membership card. Check the website for more details.

This change will only be applicable on the Axis Bank retail credit cards including Magnus Burgundy Credit Card, Reserve Credit Card, Magnus Credit Card, Samsung Infinite Credit Card, Miles and More World Credit Card, Select Credit Card, Miles and More World Select Credit Card, Signature Credit Card.

Axis Bank credit card: Fuel transactions

A fee of 1% will be levied on cumulative fuel transactions of Rs 50,000 or more in a single statement period. This fee will be applicable to all Axis bank credit cards.

Axis Bank credit card: Utility transactions

A fee of 1% will be applicable on cumulative spends of Rs 25,000 or more made towards utility payments within a statement period. This change will be applicable to all Axis Bank retail credit cards.

Axis Bank credit card: Online skill-based gaming

A fee of 1% will be charged for spending Rs 10,000 or more on online skill-based gaming platforms in a statement period. This change will be applicable to all Axis Bank retail credit cards.

Education transactions
A fee of 1% will be levied on education payments done through third party apps/websites. Note that if the payment is made through a third-party app/website, the third-party app/website may impose additional charges that Axis Bank does not have control over.