Revision in terms & conditions of HORIZON Credit Card
With effect from 20th Dec 2024, the following changes will be applicable on your
HORIZON Credit Card:
1. Finance/Interest Charges:
Finance/Interest charges applicable on your credit card will be levied at a revised
interest rate of 3.75% per month, from the current rate of 3.6% per month.
2. Cheque Return or Dishonour Fee or Auto Debit Reversal:
Minimum fee charged will be revised to Rs. 500 from the current Rs. 450. Capping
of the maximum fee of Rs. 1,500 will be removed.
3. Fee for Cash Payment:
Fee for cash payment at branches will be revised to Rs. 175 from Rs. 100.
4. Additional charge on non-payment of Minimum Amount Due (MAD):
The current Late Payment Charges (LPC) structure will continue to be applicable.
An additional charge of Rs.100 will be applicable if the payment of Minimum
Amount Due (MAD) is not made by the Payment Due Date (PDD) for two
consecutive billing periods.
Current Structure Revised Structure w.e.f 20th Dec’24
- Nil, if total payment due is up to Rs. - Nil if total payment due is up to Rs.
500 500
- Rs. 500 if total payment due is - Rs. 500 if total payment due is
between Rs. 501 and Rs. 5,000 between Rs. 501 and Rs. 5,000
- Rs. 750 if total payment due is - Rs. 750 if total payment due is
between Rs. 5,001 and Rs.10,000 between Rs. 5,001 and Rs. 10,000
- Rs. 1,200 if total payment due is - Rs. 1,200 if total payment due is
greater than Rs. 10,000 greater than Rs. 10,000
An additional charge of Rs. 100 will be
levied on missing payment of MAD by
the due date for two consecutive
cycles. This charge will continue to be
levied for every payment cycle until
the MAD is cleared.
This charge will reflect in the statement generated for the third billing period in which
this payment has not been made and will continue to be levied for every billing
period until the MAD for that billing period has been paid.
5. Dynamic Currency Conversion (DCC) markup fee:
Dynamic Currency Conversion markup fee will be revised to 1.5% from the existing
rate of 1%.
6. Rent Surcharge:
1% rent surcharge will continue to be charged by the Bank on all rent transactions.
Maximum fee capping of Rs. 1,500 per transaction will be discontinued.
7. Surcharge:
For transactions done on the segments below, a fee of 1% will be applicable as
mentioned below:
Applicable
Merchant
Segment Details of revision
Category
Code (MCC)
1% fee will be levied on cumulative wallet load
Wallet load
transactions of Rs. 10,000 or more in a statement 6540
transaction
cycle.
1% fee will be levied on cumulative fuel
Fuel 5983, 5541,
transactions of Rs. 50,000 or more in a statement
transaction 5542, 5172
cycle.
8211, 8220,
Education 1% fee will be applicable on each education
8241, 8244,
transaction payments done through third party apps.
8249, 8299
1% fee will be levied on cumulative spends of Rs.
Utility 4814, 4899,
25,000 or more made towards utility payments in
transaction 4900
a statement cycle within a statement period.
1% fee will be applicable for cumulative spends of
Online skill-
Rs. 10,000 or more on online skill-based gaming 5816
based gaming
platforms in a statement period.
All fees are subject to GST as per government regulations.
Merchant Category Codes (MCC) are defined by the card network (Visa, Mastercard,
Rupay, American Express). Axis Bank does not play a role in defining or setting the MCC.
For more details, please refer to the Most Important Terms and Conditions (MITC)
(axisbank.com/mitnc). You can also contact our customer service at 18004190065 or visit
your nearest Axis Bank branch. Please refer to (axisbank.com/creditcardfaqs) for the FAQs.
