AU Bank Credit Cards Devaluation News WEF 1st April 2024

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AU Bank sending email notifications to their credit card holders informing upcoming devaluation updates.

1. Discontinuation of Reward Points/Cashback: AU Credit Cardholders will not earn Reward
Point/Cashback on the below mentioned spends categories & on BBPS transactions starting 1st
April’2024. Please refer to the table below for spends categories and respective Merchant Category Codes. There will be no revision for Zenith+ Credit Card, ixigo AU Credit Card, Aditya Birla Finance AU Pro/Flex/Nxt/Biz Credit Cardholders & they will continue to earn Reward Points on the below mentioned spend categories as per current feature construct.

2. Reward Points on Telecom/Utility spends: AU Credit Cardholders will earn 1 Reward Point per Rs. 100 on Utility & telecom spends. Reward Points will be capped to transaction amount of Rs. 10,000 & Cardholders can earn a maximum of 100 Reward Points per transaction. Please refer to the table below for Merchant Category Codes. There will be no revision for Zenith+ Credit Card, ixigo AU Credit Card, Aditya Birla Finance AU Pro/Flex/Nxt/Biz Credit Cardholders & they will continue to earn Reward Points on the below mentioned spend categories as per current feature construct.


Revision of AU Zenith Credit Card feature/benefits:
Below mentioned changes will be applicable starting from 1st April’2024 for all AU Zenith Credit Cardholders.
a. Zenith Cardholders can avail 8 complimentary Domestic Airport Lounge access (within India)
using his/her Visa Credit card (maximum of 2 complimentary visits per calendar quarter).

b. Cardholders will earn 1 Reward Point per Rs. 100 on Insurance spends. Insurance Merchant
Category Codes/MCCs are (5960, 6300).

c. Cardholders will earn a maximum of 5,000 Reward Points on Dining spends per statement
cycle. Dining Merchant category codes/MCCs are (5811, 5812, 5813, 5814).

d. Cardholders will earn a maximum of 25,000 Reward Points in a statement cycle.

 

[Rdspam]

I had closed AU Vetta two weeks ago to shrink my portfolio. First Axis, now AU...every other CC company devaluating their premium segment cards. Such a waste lol.

Actually AU feels much worse than axis. They devalue practically every 3 months. Just see how much and how many times Zenith has been devalued in the last 6 months itself.

 

[JimCarrey]

Is this devaluation is applicable from Apr 1st ?
I had made education fee in march and earned even a single rp.

Should be from 1st April. When was your transaction?

Anybody else did any edu txn in march and received points?

 

[Harry1]

Loji ek aur pdf aa gya au ka.

 

[Walter White]

Loji ek aur pdf aa gya au ka.

2 mahine me 2 baar devaluation ho gaya

 

[Harry1]

2 mahine me 2 baar devaluation ho gaya

2 mahine chodo, pichle 6 months Mai hi 4-5 baar devalue kar diya Zenith ko🤦‍♂️.

 

[helloworld]

2 mahine chodo, pichle 6 months Mai hi 4-5 baar devalue kar diya Zenith ko🤦‍♂️.

they're following yes bank. atleast one notification in every month or two.

 

[Walter White]

2 mahine chodo, pichle 6 months Mai hi 4-5 baar devalue kar diya Zenith ko🤦‍♂️.

SFBs nhi handle kar sakte high rewarding cards

 

[Harry1]

they're following yes bank. atleast one notification in every month or two.

Any idea how will they identify if education payments is done from institution site or from third party apps? It cannot be manual check.

 

[helloworld]

Any idea how will they identify if education payments is done from institution site or from third party apps? It cannot be manual check.

same question. based on pdf it seems we have pay and they tag that basis mcc, then we have to send proof that it made through school official not from third party. they'll verify and revert 1%+Gst.

it must be manual only when they charge using mcc, no other way. not sure MID any helpful here.. in anycase, have to prepare with proofs.

 

[Walter White]

Any idea how will they identify if education payments is done from institution site or from third party apps? It cannot be manual check.

Name dekh ke track karenge merchant ka

 

[helloworld]

Name dekh ke track karenge merchant ka

pdf mentioned particularly based on mcc. it needs manual intervention to waive charges when not third party.

 

[Harry1]

Name dekh ke track karenge merchant ka

Name toh kaise pata chalega, every day one new third party app comes up. It is not limited to the ones mentioned in pdf.

 

[BhaiyaJi]

Maybe third parties get a different mcc and schools and institutes get a different mcc.

 

[helloworld]

Name toh kaise pata chalega, every day one new third party app comes up. It is not limited to the ones mentioned in pdf.

atleast their thought process is good. they're ok with official institute payments but not third party.. unlike other banks that says not agree anywhere.

but kind of complicated to differentiate both. hope some day, some bank find line between official rent vs MS rent, official edu payment vs MS edu payment etc.

 

[Walter White]

atleast their thought process is good. they're ok with official institute payments but not third party.. unlike other banks that says not agree anywhere.

but kind of complicated to differentiate both. hope some day, some bank find line between official rent vs MS rent, official edu payment vs MS edu payment etc.

I was thinking owner ko rent ki jegah tuition fee dunga but vo bhi patch ho gaya. 😜

 

[helloworld]

Maybe third parties get a different mcc and schools and institutes get a different mcc.

thats actually one way to minimize these devaluations but need careful assessment when providing mcc to these platforms.

but as of now, all of them have same mcc.

"Please note: For the above-mentioned merchant categories, MCC codes are decided/provided by VISA or
network provider. Transaction on MCC 8211, 8220, 8241, 8244, 8249, 8299 is considered as education
transaction and the above-mentioned conditions are applied on those transactions."

it says two points..

- to consider as education payment it needs to be one of mentioned mcc.
- if that mcc matches, they charge 1%.

both are linked.

 

[VISHESH_BANSAL]

Name toh kaise pata chalega, every day one new third party app comes up. It is not limited to the ones mentioned in pdf.

Thirdy Party Apps will Have Name of College or Univeristy or School in its Name ?🤣

Identification is much easy.

Even if there is problem, Actual school and College issue Fee Recipts too🤣

 

[Walter White]

Thirdy Party Apps will Have Name of College or Univeristy or School in its Name ?🤣

Identification is much easy.

Even if there is problem, Actual school and College issue Fee Recipts too🤣

@Abhishek012 kahi apna hi school na khol le paise ghumane ke liye 😂

 

[BhaiyaJi]

@Abhishek012 kahi apna hi school na khol le paise ghumane ke liye 😂

Ghumakkad School
The World Is Rotating Credit Card Money, where are you?
🤣

 

[Walter White]

Ghumakkad School
The World Is Rotating Credit Card Money, where are you?
🤣

Uske school pe sirf Rupay cards hi accept honge😝