Revision of Axis Bank Credit Card Terms and Conditions

1. 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.

 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, Vistara Axis Bank Credit Card, Vistara Signature Axis Bank Credit
Card, Vistara Infinite Axis Bank 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.

 Insurance spends will not be eligible for EDGE REWARDS

2. Any EDGE REWARDS already earned on above stated category before 05-03-2023, will remain
unaffected.

3. For other Terms and Conditions regarding EDGE REWARDS, please visit
https://edgerewards.axisbank.co.in

Frequently Asked Questions- Set A

1. What are Merchant Category Codes?

The transactions for each category are identified through Merchant Category Codes (MCC),
defined by the network, e.g. Visa, MasterCard and RuPay. Axis Bank does not define the
merchant category. Category-wise MCC codes are given below:

Category Merchant Category Codes (MCC)

Rent 6513

Insurance Services 6300, 6381, 5960, 6012 & 6051

Wallet 6540

2. What is Rent Surcharge Fee?

 For each rent payment identified through MCC 6513, a rent surcharge fee of 1% capped at INR
1500 per transaction will be levied on the transaction amount. Taxes will be applicable as
notified by Government of India. For example - If you pay INR 20,000 on a third-party rent
payment platform using your Axis Bank Credit Card, 1% of transaction amount i.e. INR 200 plus
taxes will be charged as surcharge fee. In case you pay INR 200,000 on a third-party rent
payment platform using your Axis Bank Credit Card, rent surcharge fee will be capped at INR
1,500 plus taxes.

3. What is Dynamic Currency Conversion (DCC)?

 DCC is the currency conversion service on real time basis. With DCC, a customer can make
an international transaction using Indian currency. However, while making payment in INR to
an overseas merchant, a DCC markup fee of 1% plus taxes will be levied on the transaction
amount.

 DCC is applicable on International transactions made through POS or online, either at

International location or with a merchant located in Indian but registered in foreign nation.

 Example - If you have made a purchase at a store in an International Country and payment
is made using your Axis Bank credit card in INR on POS machine, a DCC Markup fee of 1%
plus taxes will be levied on the transaction amount. Similarly, if you made a purchase in
India from a merchant registered overseas and payment is made using your Axis Bank
credit card in INR, a DCC Markup fee of 1% plus taxes will be levied on the transaction
amount.

4. Who is eligible for Milestone Spends Benefit?

 Milestone benefit is offered to credit card holders who achieve required spends within
specified time period. The milestone benefit condition varies for each credit card which is
mentioned on the respective credit card page of Axis Bank website.

 Credits Cards eligible for milestone benefits are:

Axis Bank Privilege Credit Card, Axis Bank Select Credit Card, Axis Bank Magnus Credit
Card, Axis Bank Atlas Credit Card, Vistara Axis Bank Credit Card, Vistara Signature Axis
Bank Credit Card, Vistara Infinite Axis Bank Credit Card, SpiceJet Axis Bank Voyage Black
Credit Card, SpiceJet Axis Bank Voyage Credit Card.

5. Who is eligible for Annual Fee reversal?

 Annual Fee reversal is given to credit card holders who achieve required spends within
specified time period. The Annual fee waiver condition varies for each credit card which is
mentioned on respective credit card page of Axis Bank website.

 Credit Cards eligible for annual fee waiver are:

Axis Bank Magnus Credit Card, Reserve Credit card, 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, Airtel Axis Bank Credit Card, Axis Bank Ace Credit Card, Axis Bank
Freecharge Plus Credit Card, Flipkart Axis Bank Super Elite Credit Card, Flipkart Axis
Bank Credit Card, Samsung Axis Bank Signature Credit Card, Samsung Axis Bank Visa
Infinite Credit Card.

Change in Interest Calculation Methodology

With effect from 01-04-2023, there will be a change in the way the Interest Amount is calculated.
Interest will continue be levied on all transactions and charges that were carried out during the time
the customer is a revolver (has revolving credit and has paid less than Total Amount Due in one of
the previous months).

An Illustration for the same is provided below:

 Statement Cycle – 16th to 15th of every month
 Statement Generation Date – 15th of every month
 Payment Due Date – 4th of every month
 Interest Rate – 3.6% per month

Cycle 1: 16th May to 15th June

Purchase made on 20th May: INR 10,000
No other purchase in the statement cycle
Statement for INR 10,000 generated on 15th June with payment due date of 4th July

Cycle 2: 16th June to 15th July

Payment of Minimum Amount Due made on 20th June: INR 500
On 5th July, Interest Charged consisting of following components:

1. Interest on INR 10,000 balance from 20th May to 20th June:

INR 10,000*30 days*3.6%*12/365 = INR 355.07

2. Interest on INR 9,500 balance from 20th June to 4th July :

INR 9,500*14 days*3.6%*12/365 = INR 157.41

3. GST of 18% on Total Interest :

18% *(355.07+157.41) = INR 92.24

 Total Charges (355.07+157.41+92.24): INR 604.72

 Balance as on 5th July: 9500 + 604.72 = INR 10104.72.
 If no other purchases are made, Statement Generated at the end of Cycle 2 for INR 10104.72
 Minimum Amount Due at Interest Charges + 5% of remaining outstanding:
5% of 9,500 + 604.72 = INR 1079.72.

Cycle 3: 16th July to 15th August

Payment of Total Amount Due made on 20th July
Payment of INR 10104.72. Outstanding Balance is zero
No other purchases during the cycle.
On 5th August (after payment due date) the following Interest components will be added for the
difference in dates between transactions and payment.

1. Interest on Balance of INR 9,500 from 4th July to 20th July :

INR 9,500 * 16 days * 3.6% * 12/365 = INR 179.90

2. Interest on Interest Charges of INR 521.48 from 4th July to 20th July :
INR 512.48 * 16 * 3.6% * 12/365 = INR 9.70

3. Interest on GST Charges of INR 92.24 from 4th July to 20th July :
INR 92.24 * 16 * 3.6% *12/365 = INR 1.74

 Total Charges = (179.90 + 9.70 + 1.74) = INR 191.34

 Interest of INR 191.34 added to statement on 4th August.
 Post payment of INR 91.34, no further interest will be charged on the previous transactions.
 Frequently Asked Questions- Set B

1. Is my Annual/Joining Fee getting revised?

No, there is no change in Annual/Joining Fee.

2. From when will these charges be applicable?

These charges would be effective from 01-04-2023.

3. Will there be any change in charges already levied in my statement?

No, these charges would only be applicable from 01-04-2023.

4. How can I avoid Late Payment and Interest charges?

These charges are levied in case an amount less than total amount due is paid by the payment
due date.
To avoid these charges –
 Pay at least your minimum amount due before the payment due date to avoid late
payment charges.
 Pay total amount due before payment due date and complete payment pending
interest on any previous transactions to avoid further interest charges.

5. Does this include GST?

GST, as notified by the Government of India, is applicable on all fees, interest and other
charges, and is subject to change as per relevant regulations of the Government of India. GST
will be levied over and above the charges/fee mentioned in the document.

6. Will this be applicable from statements generated post 01-04-2023 or outstanding due
from 01-04-2023?

These charges would be applicable on post outstanding due from 01-04-2023.

For all important updates regarding Axis Bank Credit Cards, please click here.

In case of q u e r i e s , please contact us at any of our touch points given below:

 For Retail Banking segment, call on 18604195555 / 18605005555.

 For Burgundy segment, call on the exclusive toll-free number 1800419006.

 For Burgundy Private segment, call on the exclusive toll-free number 18002108888.

 Alternatively, you may also check the details at www.axisbank.com

O002232027_01_2023