Axis Bank has announced a fresh set of revisions across several of its credit cards, including OLYMPUS, SELECT, MAGNUS, MAGNUS for BURGUNDY, PRIVILEGE, MYZONE, NEO and PRIMUS Credit Cards. The changes will come into effect in phases starting August 28, 2026, with further revisions scheduled for October and November 2026.
Among the major changes, Axis Bank is introducing a ₹25,000 spending requirement to unlock movie benefits on several cards, increasing the Dynamic Currency Conversion (DCC) markup on MYZONE, SELECT, PRIVILEGE, and NEO Credit Cards, and excluding certain transactions from rewards and milestone calculations.
Here is everything that is changing.
DCC Markup Revised from August 28, 2026
Axis Bank is revising the Dynamic Currency Conversion markup applicable on these credit cards from August 28, 2026.
- For MYZONE, SELECT, PRIVILEGE, and NEO Credit Cards, the DCC markup will increase from the existing 1.5% to 3.5%.
- For MAGNUS and MAGNUS for BURGUNDY Credit Cards, the DCC markup will increase from 1.5% to 2%.
- For the premium OLYMPUS Credit Card, the DCC markup will be revised to 1.8%.
Dynamic Currency Conversion applies when an international transaction is processed in Indian Rupees instead of the local currency. Cardholders traveling abroad should generally check the currency being offered at the payment terminal before completing a transaction.
₹25,000 Spend Requirement for Movie Benefits
One of the biggest changes affects the complimentary movie benefits offered on Axis Bank credit cards.
Effective November 1, 2026, MYZONE, SELECT, and PRIVILEGE Credit Cardholders will need to spend at least ₹25,000 during the previous three months to become eligible for their Buy One Get One free District movie offer.
NEO Credit Cardholders will similarly need to spend ₹25,000 in the previous three months to access the card’s Buy One Get One free BookMyShow offer.
For newly issued cards, this spending requirement will be waived during the month of card issuance and the following three calendar months.
An upgrade from one Axis Bank card variant to another will not qualify as a new card issuance. However, an additional card issued alongside an existing card relationship will be treated as a new issuance.
Only settled transactions during the preceding three calendar months will be considered. In the case of EMI transactions, Axis Bank will count only the EMI installment billed during the respective statement cycle rather than the entire transaction amount.
SELECT Credit Card Milestone Benefits Revised
Axis Bank is also tightening the annual milestone criteria for SELECT Credit Cardholders from October 1, 2026.
Currently, spending ₹3 lakh during an anniversary year unlocks 6 additional international lounge visits and 6 additional golf rounds during the same anniversary year, along with Priority Pass renewal for the next anniversary year.
The ₹3 lakh threshold remains unchanged, but transactions under existing reward-excluded categories will no longer count towards it.
These categories include insurance, rent, fuel, education, utilities and telecom, wallet, gold/jewellery, government services, and gift cards.
This could make achieving the ₹3 lakh milestone more difficult for cardholders who previously relied on these categories to meet the annual spending requirement.
No Rewards on Tolls, Bridge and Road Fees
Effective August 28, purchases of gift cards will continue to remain excluded from earning rewards. However, Axis Bank will now classify these transactions under a separate “Gift Card” spend category instead of the existing “Wallet” category.
Depending on the card variant, gift card transactions will also remain excluded from applicable milestone benefits and spend-based fee waiver calculations.
Additionally, transactions made towards bridge fees, road fees, and tolls will no longer earn rewards.
Late Payment Fee Revised
Axis Bank is also revising its late payment fee for customers with outstanding balances of ₹50,000 and above to ₹1,300.
The remaining slabs stay unchanged:
| Outstanding Amount | Late Payment Fee |
| Below ₹500 | Nil |
| ₹501 – ₹5,000 | ₹500 |
| ₹5,001 – ₹10,000 | ₹750 |
| ₹10,001 – ₹50,000 | ₹1,200 |
| ₹50,000 and above | ₹1,300 |
The revision will be applicable from August 28, 2026.
Axis Bank has also clarified the order in which credit card payments will be adjusted against outstanding dues. Payments will first be applied towards applicable fees and charges, including taxes, followed by EMIs, interest charges, purchase transactions, and finally cash advances.
Changes to Priority Pass Lounge Access
Effective August 28, 2026, Priority Pass issued with eligible Axis Bank cards will no longer be valid for accessing domestic airport lounges within India.
For domestic lounge access, eligible cardholders will instead need to present their respective Axis Bank Credit Card along with their boarding pass at the lounge reception.
This clarification applies to cards including OLYMPUS, SELECT, MAGNUS, MAGNUS for BURGUNDY, and PRIMUS, based on the respective revised terms.
Priority Pass will continue to be used for eligible international airport lounge access along with the cardholder’s boarding pass.
Axis Bank has also clarified that eligible lounges situated at Indian international terminals after immigration are considered international lounges and can be accessed using Priority Pass.
Therefore, the change does not necessarily remove domestic lounge benefits from eligible cards. Instead, it changes the method of access: the eligible Axis Bank Credit Card is to be used at domestic lounges, while Priority Pass remains the access method for eligible international lounges.
Membership Renewals to Require Consent
From November 15, 2026, complimentary memberships linked to the OLYMPUS and SELECT Credit Cards will be renewed only after receiving explicit consent from the cardholder.
Axis Bank will communicate the renewal details and consent options closer to the respective renewal dates.
Note – For PRIMUS, the revisions are relatively limited, primarily affecting the payment adjustment order and the way domestic lounge access is authenticated.
Bottom Line
The latest Axis Bank Credit Card revisions affect several popular cards, but the impact varies considerably by card and spending pattern.
The biggest change for MYZONE, SELECT, PRIVILEGE, and NEO users is the introduction of a ₹25,000 spend requirement over the previous three months to access complimentary movie benefits. A benefit that could previously be used simply by holding an eligible card will now require consistent spending.
SELECT Credit Cardholders are also affected by stricter milestone calculations, as several reward-excluded categories will stop contributing towards the ₹3 lakh annual milestone threshold.
Combined with the higher DCC markup on several cards and additional reward exclusions, these changes reduce the overall value proposition for some Axis Bank Credit Cardholders. Existing users should review how much value they receive from their card against its annual fee and their regular spending pattern once the revised terms come into effect.