Axis Bank Trims Magnus Burgundy Card: Axis Bank is making its premium Magnus for Burgundy credit card less generous from August 28, 2026. The bank has updated the card terms on its own website, and the new rules will start from that date. One big change is that reward points will no longer be given on gift card purchases and on toll-related spending, including FASTag use. The bank’s updated terms also show changes for the same card around charges and benefits from that date.
This means cardholders will have fewer easy ways to earn points. Spending on gift cards and toll payments used to be useful for many users who wanted to collect more rewards. Now that route is being shut down. The bank is also adjusting the way it treats international spending, so using the card abroad can become a little more expensive for some users.
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Foreign Spending and Lounge Access Change
For overseas transactions, the Dynamic Currency Conversion, or DCC, markup is going up from 1.5% to 2%. In simple words, this fee applies when a customer chooses to pay in Indian rupees at a foreign merchant instead of paying in the local currency. Axis Bank’s updated card terms and other reports both point to this change taking effect on August 28, 2026.
Domestic airport lounge access is also changing. Priority Pass will no longer be used for domestic lounge entry on this card. After the change, cardholders will need to show the physical credit card and a valid boarding pass at the lounge. International lounge access is staying the same for now.
Fees and Renewal Consent
Axis Bank is also raising the late payment fee for balances above ₹50,000. The charge will move up to ₹1,300 from ₹1,200. Another change says that complimentary memberships linked to the card will need the customer’s clear consent for renewal starting November 15, 2026. These steps fit into a wider pattern where banks are slowly tightening premium card rewards and trying to control costs more carefully.
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The card will still be premium, but some of the easy benefits are being reduced. Users who spend heavily on travel, foreign purchases, or high-value points categories may feel the difference most. This article is published for informational purposes only. This is not a buy sell recommendation.
