Axis Bank Credit Card Fees Revised: Check New Charges on Axis Bank Credit Card from 20 December 2024

Axis Bank has announced a significant revision to its credit card charges, effective December 20, 2024. The changes will affect many of its popular credit cards and come as part of a broader industry trend where major banks, including HDFC, ICICI, and IDFC, have been reducing benefits to align with evolving market conditions. These updates include increased fees, changes to cashback programs, and stricter eligibility criteria for perks like lounge access.

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Key Changes to Axis Bank Credit Cards

General Updates Across All Cards

• Dynamic Currency Conversion Fee: Increased from 1% to 1.5%.
• Cash Payment Fees at Branches: Hiked from ₹100 to ₹175.
• Rent Surcharge: 1% surcharge continues, but the ₹1,500 transaction cap is removed.
• Interest Rate: Updated to 3.75% per month.
• Auto-Debit Reversal/Cheque Return Fee: Now 2% of the payment amount, with a minimum fee of ₹500 and no upper limit.
• Reward Redemption Fee: ₹99 per transaction on the EDGE REWARDS platform.
• Reward Point Transfers: ₹199 fee for converting or transferring EDGE REWARD points or EDGE Miles to other loyalty programs.
• Transaction Fee for Specific Spending:
  • 1% fee for wallet loading over ₹10,000, fuel spending above ₹50,000, utility bills exceeding ₹25,000, or skill-based gaming over ₹10,000 in a billing cycle.
  • 1% fee for educational payments via third-party apps (direct payments to institutions exempted).
• Late Minimum Amount Due (MAD) Payment: Additional ₹100 monthly fee after two consecutive months of non-payment.

Lounge Access Changes

• Priority Pass will no longer grant access to domestic airport lounges in India. However, access to international lounges remains available.

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Card-Specific Changes

Samsung Axis Bank INFINITE Credit Card

• Cashback Update:
  • 10% cashback on Samsung purchases via Amazon (previously Flipkart).
  • Eligible platforms: Samsung eStore, Samsung Shop App, Amazon, Samsung physical stores (via Brand EMI), and service centers.

Flipkart Axis Bank Credit Card

• Cashback Restriction: No cashback for government services associated with MCCs 9222, 9311, and 9402.

Airtel Axis Bank Credit Card

• Cashback Eligibility:
  • 25% cashback on recharges via Airtel Thanks for active Airtel connections.
  • No cashback for inactive or new connections.