Axis Bank has grown into India's third-largest private sector credit card issuer, driven by popular cards like Magnus, NEO, and Flipkart Axis. However, its SecureIt add-on product and annual fee structure generate a significant volume of complaints. This guide covers every Axis Bank credit card charge that is frequently disputed — with the exact amounts and how to reverse them.
Axis Bank's late payment fee schedule:
How to dispute: Call 1860-419-5555. Ask for a goodwill waiver — Axis Bank routinely waives first-time late fees for customers with good payment history. For written disputes, email support@axisbank.com citing RBI Master Direction on Credit Cards 2022, Clause 8.
Axis SecureIt is a card protection plan frequently enrolled without explicit customer consent — either during the welcome call or via a pre-ticked opt-in on the digital welcome journey. Look for charges labeled "SECUREIT", "AXIS CARD PROTECT", or "BAJAJ ALLIANZ" on your Axis statement.
Under RBI Master Direction on Credit Cards 2022, Clause 10, explicit recorded consent is mandatory for any VAS enrollment. If you did not actively opt in, you are entitled to a full refund from the date of activation — not just from the date of complaint.
How to dispute: Email support@axisbank.com and demand (a) the cancellation of the plan with immediate effect, and (b) documentary proof of your enrollment consent. If they cannot produce consent records, demand a full refund. Escalate to cms.rbi.org.in if not resolved in 30 days.
Axis charges 3.6% monthly interest (43.2% annually) on revolving balances. Like all Indian banks, interest applies on the full statement balance when you pay less than the full amount. Axis must disclose the APR on every statement and give 30 days' notice before any rate change.
Common Axis Bank annual fee waiver thresholds:
Check your annual spend in the Axis Mobile App. If you met the threshold, email support@axisbank.com with your spend summary and the waiver condition from your card's schedule of charges.
Standard Axis cards charge 3.5% forex markup. However, the Magnus and Reserve cards charge only 1.5% — one of the lowest among Indian private banks. If you are being charged 3.5% on a Magnus or Reserve card, this is a disputable discrepancy. Always confirm the rate on your Key Fact Statement.
Axis charges 2.5% on the overlimit amount. Per RBI Master Direction Clause 9, overlimit transactions should be declined unless you specifically opted into the overlimit facility. If you were not informed about this facility and were still charged, file a dispute with your card's schedule of charges as evidence.
Axis Bank tip: Axis Bank's "Nodal Officer" escalation is significantly more effective than general customer care for VAS disputes. For SecureIt refunds specifically, mention Clause 10 of the RBI Master Direction on Credit Cards 2022 by name — this signals that you know your rights and typically accelerates resolution.
Time limit: Dispute charges within 30 days for best results. SecureIt / protection plan refunds can be claimed up to 6 months retroactively from the date of complaint. Annual fee disputes must be filed before your next billing cycle closes.