Revision of Axis Bank Credit Card Terms and Conditions with effect from 05-03-2023

[hiraktalukdar]

With effect from 05-03-2023, following revisions will be applicable on your Axis Bank Credit Card:

- A rent surcharge fee of 1% capped at INR 1,500 per transaction will be applicable on each rental transaction. Taxes will be applicable as notified by Government of India.

- A Dynamic Currency Conversion (DCC) markup fee of 1% plus taxes will be applicable on each International transaction performed in Indian currency at International location or transactions performed in Indian currency with merchants located in Indian but registered in a foreign nation.
o DCC markup fee will not be applicable on Burgundy Private Credit Card

- Spends threshold for Milestone benefits will exclude rent and wallet transactions:
o Revision will be applicable on Axis Bank Privilege Credit Card, Axis Bank Select Credit Card, Axis Bank Magnus Credit Card, Axis Bank Atlas Credit Card.

- Spends threshold for Annual Fee reversal will exclude rent and wallet transactions:
o Revision will be applicable on Axis Bank Privilege Credit Card, Axis Bank Select Credit Card, Axis Bank Pride Platinum Credit Card, Axis Bank Pride Signature Credit Card, Axis Bank Titanium Credit Card, Axis Bank Platinum Credit Card, Axis Bank Indian Oil Credit Card, Axis Bank Magnus Credit Card, Reserve Credit card.

 

[787]

So we are sure that Magnus is providing ER on insurance spends with a cap of Rs 6000?

Thanks

 

[anirban.choudhuryanirban.choudhury is verified member.]

So we are sure that Magnus is providing ER on insurance spends with a cap of Rs 6000?

Thanks

Yea , insurance is also counted on monthly milestone

 

[787]

Thank you!

 

[jitesh129_]

Yea , insurance is also counted on monthly milestone

Bro... my understanding is that no ER on insurance spends but exp done on insurance will be counted in monthly milestone benefit

 

[anirban.choudhuryanirban.choudhury is verified member.]

Bro... my understanding is that no ER on insurance spends but exp done on insurance will be counted in monthly milestone benefit

I think someone wrote a mail to premium experience ,and they stated that insurance will be counted on milestone also receive ER on insurance spend . Even the Magnus updated tnc had nothing on insurance

 

[jitesh129_]

That will be great but do u have copy of the mail because in circular issued by Axis - clearly states that no ER on Insurance spend.

 

[Copycat]

Bro... my understanding is that no ER on insurance spends but exp done on insurance will be counted in monthly milestone benefit

That will be great but do u have copy of the mail because in circular issued by Axis - clearly states that no ER on Insurance spend.

I wrote the mail and got the reply
https://www.technofino.in/community...s-for-spend-based-milestones.7283/post-117655

The TnC you have is wrong. You should refer to the TnC for affluent cards. I posted it earlier in that thread

 

[PavvanPavvan is verified member.]

 

[PavvanPavvan is verified member.]

Not sure how to get the right information @Copycat we need to seek some high level information

 

[Copycat]

Not sure how to get the right information @Copycat we need to seek some high level information

The CC that I emailed is specifically for Magnus and higher cards
Also, just check the SMS you received. It gives you the card number and which link that contains the specific TnC revisions for that card. I already posted the PDF links for Magnus & Axis Flipkart and someone else posted the link for non Affluent ER cards

 

[PavvanPavvan is verified member.]

The CC that I emailed is specifically for Magnus and higher cards
Also, just check the SMS you received. It gives you the card number and which link that contains the specific TnC revisions for that card. I already posted the PDF links for Magnus & Axis Flipkart and someone else posted the link for non Affluent ER cards

No no even this is for magnus i asked specifically for magnus

 

[Copycat]

No no even this is for magnus i asked specifically for magnus

No. That is wrong. That is for the lower level ER cards. Not Magnus

 

[jitesh129_]

I wrote the mail and got the reply
https://www.technofino.in/community...s-for-spend-based-milestones.7283/post-117655

The TnC you have is wrong. You should refer to the TnC for affluent cards. I posted it earlier in that thread

I have also written mail to Axis and awaiting their reply. I do not want to take any chances with Axis Bank

 

[jitesh129_]

I have received the reply from Axis Bank and it is attached here.

 

[PavvanPavvan is verified member.]

I have received the reply from Axis Bank and it is attached here.

Think magnus us excluded

 

[Copycat]

I have received the reply from Axis Bank and it is attached here.

Thank you for attaching it. As I mentioned earlier, affluent cards (including Magnus) will continue to earn ER on insurance spends. The cards that will not earn are all retail cards as well as the Axis Select card

 

[Avijeet]

Dynamic Currency Conversion (DCC)

 

[iamabhisekagar]

Either this DCC is an error or I am going to close my axis cards... plenty of CC providers in the market