Axis Bank credit card customers are set to face higher charges as the private lender revises key components of its card fee structure. Among the most notable changes, the Dynamic Currency Conversion (DCC) markup will rise to 3.5%, while the late payment fee will go up to ₹1,300, according to a Business Today report.

DCC Markup Increased to 3.5%

One of the key revisions affects international transactions made through Dynamic Currency Conversion. The DCC markup on Axis Bank credit cards will now stand at 3.5%. DCC allows cardholders to pay in their home currency while making purchases abroad or on international websites, but it typically comes with an additional markup, making transactions costlier than paying in the local currency.

With the revised rate, customers opting for DCC on their Axis Bank credit cards will see higher costs on foreign transactions. Financial experts generally advise cardholders to pay in the local currency when abroad to avoid DCC charges altogether.

Late Payment Fee Goes Up to ₹1,300

In another significant change, the late payment fee on Axis Bank credit cards will increase to as much as ₹1,300. This charge applies when cardholders fail to pay at least the minimum amount due by the payment deadline.

The higher penalty makes timely repayment even more important for cardholders. Missing due dates not only attracts late fees but can also lead to additional finance charges and a negative impact on the cardholder's credit score.

What Cardholders Should Do

Customers holding Axis Bank credit cards are advised to carefully review the revised schedule of charges applicable to their specific card variant. Key steps to minimize costs include:

  • Paying credit card bills in full and on time to avoid late payment fees of up to ₹1,300
  • Choosing to pay in the local currency during international transactions to avoid the 3.5% DCC markup
  • Checking the bank's official communications or website for the complete updated fee structure

Conclusion

The revision in Axis Bank's credit card charges — including the DCC markup rising to 3.5% and late payment fees climbing to ₹1,300 — means cardholders will need to be more careful with repayments and overseas spending. Staying informed about the updated fee structure can help customers avoid unnecessary charges and manage their credit cards more effectively.