Axis Magnus DCC markup rises to 2% — from 28 August 2026

Axis Bank will carve out the Magnus card from its bank-wide Dynamic Currency Conversion hike. From 28 August 2026, the DCC markup on Magnus will rise to 2% from 1.5%, rather than the 3.5% applied to other cards. The late-payment fee will be topped out at ₹1,200 above ₹10,000 outstanding, and gift-card spend will be booked under the ‘Wallet’ category, earning no rewards and excluded from spend-based fee-waiver calculations. Bridge Fees, Road Fees and Tolls will also earn no rewards.

The change will affect cardholders who use their Magnus card for international transactions, as the DCC markup will increase. However, the 2% markup is still competitive with other cards in the market. Cardholders who use their Magnus card for gift-card purchases will not earn any rewards, and these purchases will not be included in spend-based fee-waiver calculations.

Our take: with the change not taking effect until 28 August 2026, Magnus cardholders have a window to make any necessary adjustments to their spending habits. They should review their upcoming transactions and consider the impact of the increased DCC markup. Since the earn grid, fee, and lounge allowance remain unchanged, cardholders can continue to use their Magnus card as usual, but should be aware of the changes to the DCC markup and gift-card spend categorization.