We have recently seen all the major card issuers revising the terms related to the reward points/charges particularly relating to the rent payments on various credit cards. Now, Axis Bank has come up with some similar updates for its credit cardholders. There are some changes in the fees & charges and terms & conditions applicable to Axis Bank Credit Cards. All these revisions will come into effect from March 5, 2023, and if you have an Axis Bank Credit Card, you must be aware of all the updates recently announced by the bank. To know more about the revised terms and conditions of Axis Bank Cards, keep reading:

Axis Bank Credit Card

Revisions On Axis Bank Credit Card Terms & Conditions

W.e.f. March 5, 2023, some changes would be applicable to Axis Bank Credit Cards. These changes include some newly introduced fees and a few restrictions on the calculation of threshold amounts for milestone benefits and fee waivers.

Updated Fees & Charges

Axis Bank has introduced some new charges for its credit cardholders, including a 1% surcharge on rent payments and a dynamic currency conversion fee. Further information about the new fees & charges is given below:

  • Rent Surcharge Fee: A rent surcharge fee of 1% (plus applicable taxes) would be applicable to all rental transactions made using Axis Bank Credit Cards on or after March 5, 2023. This fee is capped at Rs. 1,500 for every rent payment.
  • Dynamic Currency Conversion Fee: A DCC (Dynamic Currency Conversion) markup fee of 1% (plus applicable taxes) would be applicable to all international transactions from the above-mentioned date. This fee will be applicable to all transactions made in Indian currency at international locations or transactions made at Indian locations to merchants registered in other nations. The DCC markup fee would be applicable to all credit cards except the Burgundy Private Credit Card.

Apart from this, there are certain changes in the interest calculation method. These changes will be applicable from April 1, 2023. The interest rate will be applicable on all transactions made during a particular billing cycle if the cardholder has not made the full bill payment during any of the previous billing cycles. For example, suppose you made a purchase worth Rs. 5,000 in a particular billing cycle, but you paid only the minimum due amount by the due date. Now, interest will be chargeable on the total amount (Rs. 5,000) from the transaction date to the payment due date. Moreover, the interest will also be chargeable on the remaining outstanding balance from the payment due date.

You can understand this with the help of examples given on this page.

Exclusions For The Calculation Of Spend Threshold

Several credit cards by Axis Bank come with exciting milestone benefits, i.e. you can earn exciting rewards by achieving a certain spend milestone within a pre-specified period. Apart from this, there are fee waiver conditions under which you can get the annual fee waived by spending the required amount in the previous year. Effective from March 5, 2023, the following transactions (Wallet reloads and rent payments) will not be considered for the calculation of your total spends:

  • For Milestone Benefits: Rent payments and wallet reloads will not be eligible for the calculation of the spend threshold for milestone benefits on the Axis Bank Privilege, Axis Bank Select, Axis Bank Magnus, and Axis Bank Atlas Credit Card.
  • For Annual Fee Waiver: Rent transactions and wallet reloads will not be considered for total annual spends’ calculation for annual fee reversal. This change will be applicable to Axis Bank Privilege, Axis Bank Select, Axis Bank Pride Platinum, Axis Bank Pride Signature, Axis Bank Titanium, Axis Bank Platinum, Axis Bank Indian Oil, Axis Bank Magnus, and Reserve Credit card.

Read More: Axis Bank Revises Its Credit Card Fees and Charges

Bottom Line

The above changes announced by Axis Bank are very important to be understood by everyone holding an Axis Bank Credit Card. If you are an eligible cardholder, make sure that you understand all the above fees & charges as well as terms & conditions very well, so that you don’t make any mistakes while using your card. The newly introduced fees and charges might be a bit disappointing for the cardholders, but the bank has probably done it keeping the market standards in mind. All the other major card issuers have now started charging some convenience fees on rent payments and they have also put some restrictions on such payments. Axis Bank has also followed the same now. Therefore, you need not worry. Just try to go through the recent revisions thoroughly and use your card wisely. If you have any further doubts, feel free to ask us in the comment section below!


  1. Pankaj Rathi Reply

    This is really bad. They have excluded even wallet reloads. Rent was fine but atleast they could keep wallet reloads.

  2. Prateek Jain Reply

    Will insurance transactions counts in monthly milestone award in case of magnus credit card?

    • Ankur Mittal Reply


  3. armaan kapoor Reply

    No rent payments going through at all for “Security reasons”

  4. Gana Reply

    Does spends on fuel counts for milestone benefits? I am not getting the regular reward points on fuel spends above 200 Rs (in a single transaction)? Does anyone else observed this?

  5. Shyam Reply

    As I know the convenience fees is borne by LIC for the premium paid by credit card. Is there any convenience fee for paying insurances premium(other than LIC) through Indian Oil Axis credit card?? If yes, what is the charge?

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