Cardfare / What changed / Axis raises DCC markup to 3.5% on most cards, 2% on Magnus

Axis raises DCC markup to 3.5% on most cards, 2% on Magnus

The markup on rupee-billed international transactions rises from 1.5% to 3.5% on SELECT, Privilege, MY ZONE and NEO, to 2% on Magnus and Magnus for Burgundy, and to 1.8% on Olympus.

Cards affected

Axis Bank Select Credit Card, AXIS BANK PRIVILEGE Credit Card, AXIS BANK MAGNUS Credit Card

Source

Dynamic Currency Conversion markup will be revised to 3.5% from 1.5%.

Business Standard · Bank notice

Cardfare summarises public announcements. The bank's current terms are final. Spotted a mistake? Tell us.

More from Axis Bank

• UpcomingUpdateAxis Bank· from 15 November 2026

  Axis complimentary memberships renew only with your consent

  Complimentary memberships on Magnus, Magnus for Burgundy, Reserve, SELECT and other premium Axis cards will renew only after explicit cardholder consent. Axis says renewal details and consent options will be shared near the renewal date.

  Cards: AXIS BANK MAGNUS Credit Card, Axis Bank Reserve Credit Card, Axis Bank Select Credit Card

  Source: Axis Bank – Reserve T&C revision

• CutAxis Bank· since 1 November 2026

  Axis movie offers need ₹25,000 spend in the previous 3 months

  The District buy-one-get-one on SELECT, Privilege and MY ZONE, and the NEO BookMyShow discount, will require ₹25,000 of settled spend in the previous 3 months. New cards are exempt for the issuance month and the next 3 months.

  Cards: Axis Bank Select Credit Card, AXIS BANK PRIVILEGE Credit Card

  Source: Axis Bank – Privilege T&C revision

• Benefit changeAxis Bank

  Horizon lounge access now requires a USD 1 transaction

  The terms now require a USD 1 transaction on the Horizon card to access the airport lounge. The document also specifies a 60-day posting period for the welcome miles.

  Cards: HORIZON Credit Card

  Source: Axis Bank Horizon Credit Card terms (axis.bank.in)

• CutAxis Bank· since 1 October 2026

  Axis SELECT milestone no longer counts non-reward spends

  The ₹3 lakh annual spend that unlocks 6 extra international lounge visits, 6 golf rounds and Priority Pass renewal on SELECT will no longer count insurance, rent, fuel, education, utilities and telecom, wallet, gold/jewellery, government or gift card spends.

  Cards: Axis Bank Select Credit Card

  Source: Axis Bank – SELECT T&C revision