Axis Credit Card Rules Change From August 28: DCC Charges, Late Fee Slabs, Payment Explained

Axis Credit Card Rules Change: Axis Bank credit card customers, pay attention! The bank has announced a series of changes to its credit card terms and conditions. From charges on international transactions and late payment fees to reward benefits, most of these changes are set to come into effect on August 28.

For Axis Bank credit card customers who will be affected by these new changes, here are all the details about the revised rules and other changes.

DCC Conversion

The Dynamic Currency Conversion (DCC) markup will increase from 1.5% to 3.5%, with applicable taxes charged additionally. DCC may affect customers travelling abroad or making international payments.

This payment option lets cardholders to pay in Indian currency, instead of local currency overseas. The surge in markup fees would lead to international payments attracting higher charges.

Late Payment Fee For Customers

Axis Bank has revised its late payment fee for customers with larger outstanding balances. Now, if you forget to repay the credit card bill exceeding Rs 50,000, then you will have to pay a late fee of Rs 1,300.

The credit card provider has also changed the late payment fee for other slabs as well. While there will be no late fee for outstanding amounts below Rs 500, balances between Rs 501 and Rs 5,000 will carry a fee of Rs 500. Those between Rs 5001 and Rs 10,000 will attract a late fee of Rs 750. If your debt ranges from Rs 10,001 to Rs 50,000, there will be a late fee of Rs 1,200.

Partial Payments

The procedure for adjusting partial payments will also change, as payments will first cover applicable fees, charges, and taxes, followed by equated monthly instalments (EMIs), general purchase interest, and finally cash advances.

Axis Bank Credit Card Reward Points Policy

The company is also set to change its reward point policy and changes that qualify for rewards. Transactions related to tolls, road fees and bridges charge will not attract reward points or cashbacks.

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