• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

Axis Magnus Axis Magnus Card policy change, can I sue?

Abhijith

TF Neo
I got my Axis Magnus card on 18th July 2023.
And today I got a email stating that the policy is changing from 1st Sept.

Customer care reached out to me and enticed me with all the benefits and it looked like a great deal. So I went ahead with the card.
3 days later most of the benefits are removed in terms of edge reward points.

Upon calling customer care, they said they cannot reverse the joining fee if I cancel the card now since I have already made spends on the card. Their website is also not updated yet with the new terms and conditions.

Can I raise a consumer court case against them in this? Do you guys think there is a valid case for this?
I have paid 10000 for a service which I am not being offered because they changed the policy, and now they are forcing me to pay for something that I do not want.
 

Attachments

  • Screenshot 2023-07-21 at 7.11.57 PM.png
    Screenshot 2023-07-21 at 7.11.57 PM.png
    410.3 KB · Views: 27
  • Screenshot 2023-07-21 at 7.12.17 PM.png
    Screenshot 2023-07-21 at 7.12.17 PM.png
    330.3 KB · Views: 24
  • Screenshot 2023-07-21 at 7.12.03 PM.png
    Screenshot 2023-07-21 at 7.12.03 PM.png
    285.4 KB · Views: 20
  • Screenshot 2023-07-21 at 7.12.10 PM.png
    Screenshot 2023-07-21 at 7.12.10 PM.png
    291 KB · Views: 27
I got my Axis Magnus card on 18th July 2023.
And today I got a email stating that the policy is changing from 1st Sept.

Customer care reached out to me and enticed me with all the benefits and it looked like a great deal. So I went ahead with the card.
3 days later most of the benefits are removed in terms of edge reward points.

Upon calling customer care, they said they cannot reverse the joining fee if I cancel the card now since I have already made spends on the card. Their website is also not updated yet with the new terms and conditions.

Can I raise a consumer court case against them in this? Do you guys think there is a valid case for this?
I have paid 10000 for a service which I am not being offered because they changed the policy, and now they are forcing me to pay for something that I do not want.
I would suggest reading their MITC before going to sue them.

I have not studied this part of the law but in my broad understanding following maybe applicable here-

The card offers some services which you are at liberty to use as per your choice. The Rs 10000 is against the annual fee of that particular variant of the card which you were issued. If you have been given a card and you are able to use it without problems, then that Rs 10000 is justified and you cannot ask the bank to repay it to you as already signed an agreement with them.

Now you can sue them, if the card fails to work at some place, but I guess that they have already covered their asses here too.

So, basically the bank is a lender and is ultimately obliging you if you use the card and avail its Credit facility.

As a customer, I think you don't have any right to sue them because they have not promised anything. Right to sue, comes out of inability to provide service or due to some deficiency in a service for which you made payment.

The card offers some reward benefits too which you may gain upon usage of the card. The bank may have already made it clear in their MITC that they are at liberty to change the rewards program and they have exclusive right to it. These benefits are ancillary to the card benefits and not the core component of the card.

However, banks advertise such reward benefits to sell their card.

At the most, what you can do is demand a refund, saying you bought the card out of false advertising by the bank. Maybe you will need to drag them to the banking ombudsman (but I guess it will be a long shot).

But since, you took the card recently, it helps build your case.

Other than that, law is very complicated and maybe things will or will not lean in your favor, is really hard to say.

Thanks!!
 
While applying to card, we never read terms and conditions and they are always phrased in favor of financial institution. I don't see the point in even thinking about suing. The best you can do is to play 'Cry Baby' card in front of customer care to get some extra vouchers or may be some other Axis card LTF if you are interested. Use the card for an year. Doesn't make sense to renew unless your benefits exceed Rs. 12500 + GST next year
 
You can sue but your case will be dismissed faster than the devaluation. Bank has rights to change the TnCs at their will and we sign the agreement to it when applying for the card. Instead, you can send emails to the customer care and escalate to the nodal officer REQUESTING the closure of the card and/or reversal of joining fee. Again you can only request, so if you act disrespectful in your emails that too will be rejected. Good luck, be patient and try to work towards the resolution
 
do the spend of 1lac Plus this month on gyfter/travel edge.you will be getting around 37000-40000 points.convert those to accor.you will get value worth 50-55 thousand rupees.

Also you will be getting 10000 tata Cliq voucher.so for a 11800 fee card on spending 1 lac you will getting 55+10=65000 worth of benefits.plus you can use the card till the renewal with its other benefits.

Why you need to go to court and complicate the matter.
 
I got my Axis Magnus card on 18th July 2023.
And today I got a email stating that the policy is changing from 1st Sept.

Customer care reached out to me and enticed me with all the benefits and it looked like a great deal. So I went ahead with the card.
3 days later most of the benefits are removed in terms of edge reward points.

Upon calling customer care, they said they cannot reverse the joining fee if I cancel the card now since I have already made spends on the card. Their website is also not updated yet with the new terms and conditions.

Can I raise a consumer court case against them in this? Do you guys think there is a valid case for this?
I have paid 10000 for a service which I am not being offered because they changed the policy, and now they are forcing me to pay for something that I do not want.
Yes you can
 
I would suggest reading their MITC before going to sue them.

I have not studied this part of the law but in my broad understanding following maybe applicable here-

The card offers some services which you are at liberty to use as per your choice. The Rs 10000 is against the annual fee of that particular variant of the card which you were issued. If you have been given a card and you are able to use it without problems, then that Rs 10000 is justified and you cannot ask the bank to repay it to you as already signed an agreement with them.

Now you can sue them, if the card fails to work at some place, but I guess that they have already covered their asses here too.

So, basically the bank is a lender and is ultimately obliging you if you use the card and avail its Credit facility.

As a customer, I think you don't have any right to sue them because they have not promised anything. Right to sue, comes out of inability to provide service or due to some deficiency in a service for which you made payment.

The card offers some reward benefits too which you may gain upon usage of the card. The bank may have already made it clear in their MITC that they are at liberty to change the rewards program and they have exclusive right to it. These benefits are ancillary to the card benefits and not the core component of the card.

However, banks advertise such reward benefits to sell their card.

At the most, what you can do is demand a refund, saying you bought the card out of false advertising by the bank. Maybe you will need to drag them to the banking ombudsman (but I guess it will be a long shot).

But since, you took the card recently, it helps build your case.

Other than that, law is very complicated and maybe things will or will not lean in your favor, is really hard to say.

Thanks!!
It is effective 1st Sept 2023 only however try rbi ombudsman
 
Back
Top