Information verified
This article was checked on September 1, 2026 against Axis Bank's official Magnus revision notice and current Magnus product pages.
Most changes became effective on August 28, 2026. The complimentary-membership consent rule applies from November 15, 2026.
What changed?
| Feature | Earlier | Revised |
|---|---|---|
| DCC markup | 1.5% | 2% |
| Late fee above ₹50,000 | Previous applicable fee | ₹1,300 |
| Gift-card category | Wallet | Gift Card |
| Domestic lounge entry | Priority Pass caused confusion | Use the Magnus Credit Card |
Dynamic Currency Conversion markup increased
Axis Bank increased the Magnus Dynamic Currency Conversion, or DCC, markup from 1.5% to 2%. DCC may be offered when an overseas merchant or payment terminal converts a foreign purchase into Indian rupees.
Paying in rupees may look convenient, but the final amount can include the merchant's conversion rate and the applicable card markup. Compare the displayed INR price with paying in the local currency before confirming the transaction.
The current Magnus page lists a 2% foreign-currency markup and a 2% DCC markup plus applicable taxes. These are different charges that can apply in different transaction situations.
Revised late-payment fee
| Outstanding balance | Late-payment fee |
|---|---|
| Below ₹500 | Nil |
| ₹501 to ₹5,000 | ₹500 |
| ₹5,001 to ₹10,000 | ₹750 |
| ₹10,001 to ₹50,000 | ₹1,200 |
| Above ₹50,000 | ₹1,300 |
The late fee is not the complete cost of carrying an unpaid balance. Interest and taxes may also apply. Paying the total amount due before the deadline remains the safest way to avoid extra charges.
How payments will be adjusted
Axis Bank says a card payment will be adjusted first against fees and charges including taxes, followed by EMIs, interest charges, purchase transactions and cash advances. This matters when a cardholder pays less than the total outstanding balance.
Reward exclusions
Gift-card purchases continue to earn no rewards and do not count toward the annual-fee-waiver spending calculation. Axis Bank now classifies these transactions under a separate Gift Card category instead of Wallet.
Bridge fees, road fees and toll payments also earn no EDGE Reward Points. The Magnus benefits page lists additional excluded categories, so total card spending should not be treated as eligible reward spending.
Priority Pass and domestic lounges
From August 28, 2026, the Magnus Priority Pass cannot be used for domestic airport lounges in India. For an eligible domestic lounge, present the Axis Bank Magnus Credit Card and boarding pass.
Priority Pass continues to be used for eligible international lounges. Axis Bank clarifies that eligible lounges at Indian international terminals after immigration are treated as international lounges.
This instruction does not itself remove domestic lounge access. It changes which card is presented. Confirm the latest eligible lounge list before travelling because lounge participation can change.
Membership renewal from November 15
Complimentary memberships linked to Magnus will be renewed only after the cardholder gives explicit consent from November 15, 2026. Axis Bank says the renewal details and consent options will be communicated closer to the renewal date.
Does Magnus still make sense?
Magnus may still suit customers who regularly use international lounges, travel rewards and premium benefits. Its value should not be judged only by the number of listed benefits.
The current Axis Bank page lists an annual fee of ₹12,500 plus taxes and an eligible-spend requirement of ₹25 lakh for the fee waiver. Confirm both figures before applying because card fees and eligibility conditions can change.
Key takeaways
The Magnus DCC markup increased from 1.5% to 2%.
The late-payment fee is ₹1,300 above ₹50,000 outstanding.
Gift cards, bridge fees, road fees and tolls do not earn rewards.
Use the Magnus Credit Card for eligible domestic lounges, not Priority Pass.
Membership renewal will require consent from November 15, 2026.
Frequently asked questions
Has domestic lounge access stopped?
The notice does not say it has stopped. It says Priority Pass is not valid for domestic lounge entry; use the Magnus Credit Card at an eligible lounge.
Do gift-card purchases earn rewards?
No. They also do not count toward the annual-fee-waiver spending calculation.
When does the membership rule start?
The explicit-consent requirement applies from November 15, 2026.
Sources checked
Verified September 1, 2026. Card fees, rewards and lounge lists are time-sensitive; confirm current terms with the issuer.