Devaluation Axis ACE Credit Card Huge Devaluation Alert

[Chaitanya-a]

I'm already borderlining the cap, 500 is too less. My bills have constantly been over 12-14k per month, which means I can't be using it for Swiggy. They should have atleast made it 750.

Buy Swiggy GV from Grabdeals at 7% off plus 2% cashback of your ace. That would be better option.

 

[Rohith_Kumar_Sp]

Buy Swiggy GV from Grabdeals at 7% off plus 2% cashback of your ace. That would be better option.

Is there a website where I can buy for Grabdeals or can I do in axis app?

 

[Chaitanya-a]

Is there a website where I can buy for Grabdeals or can I do in axis app?

https://grabdealsaxisbank.woohoo.in/

 

[aryanraj]

I got the ACE! woho. for amazon and flipkart vouchers what is preferred? HDFC smartbuy +millennia or Axis grabdeals+ ACE ?

 

[Chaitanya-a]

I got the ACE! woho. for amazon and flipkart vouchers what is preferred? HDFC smartbuy +millennia or Axis grabdeals+ ACE ?

Smartbuy+Millenia or Amazon+Millenia wherever you're getting better deal.

 

[avikrish]

I

Hello everyone,
Huge devaluation news coming from Axis Bank regarding their ACE credit card.
According to the new terms and conditions:
Effective from June 15
1. Bill payments (electricity, Cashback water,
gas, LPG, and broadband), DTH and mobile
recharges through Google Pay and get
5% Cashback & Swiggy, Zomato and Ola 4% Cashback

Maximum Rs. 500 (on transactions made on
these above mentioned categories combined)

Other merchants* - 2% Cashback (Unlimited)

*Cashback shall not be eligible on fuel spends, EMI transactions, purchases converted to EMI post facto, wallet loading transactions, cash advances, rental payment, purchase of gold/jewellery items, insurance premium payments, educational services, payment of outstanding balances, payment of
card fees and other card charges.

View attachment 16043
For example,
If the customer spends Rs. 35,000 in a billing cycle with the following break up of spends –
1. Recharge & Utility Bill payment through Google Pay: Rs. 5,000
2. Swiggy, Zomato & Ola: Rs. 10,000
3. Other spends on eligible cashback categories: Rs. 20,000
Out of these “Other spends”, Rs. 10,000 was an EMI purchase.
Thus, the total spends eligible for cashback would only be
Rs. 5,000 + Rs. 10,000 + Rs. 20,000 - Rs. 10,000 (EMI transaction) = Rs. 25,000
The cashback for the billing cycle in example would be calculated as follows:
1. 5% of Rs. 5,000 = Rs. 250
2. 4% of Rs. 10,000 = Rs. 400
3. 2% of Rs. 10,000 = Rs. 200
Since the combined cashback earned on 5% and 4% cashback eligible transactions is capped at
Rs.500, the cashback credited for these categories will be Rs. 500 and not Rs.650
Thus, the total cashback for the example would be Rs. 500+200 = Rs. 700
2. Education service payments will not be eligible for cashback.
3. Cashback earned in a statement cycle is credited against the outstanding of the next monthly statement.
An SMS will be sent every month which has the total amount of cashback earned in that statement. SMS of
cashback earned won’t be sent after every transaction.

It's a huge devaluation! But the good thing is axis bank still continues 2% cashback on other spends.

Is this 5% and 4% upto Rs500 is for billing cycle right , not the calender month?

Hello everyone,
Huge devaluation news coming from Axis Bank regarding their ACE credit card.
According to the new terms and conditions:
Effective from June 15
1. Bill payments (electricity, Cashback water,
gas, LPG, and broadband), DTH and mobile
recharges through Google Pay and get
5% Cashback & Swiggy, Zomato and Ola 4% Cashback

Maximum Rs. 500 (on transactions made on
these above mentioned categories combined)

Other merchants* - 2% Cashback (Unlimited)

*Cashback shall not be eligible on fuel spends, EMI transactions, purchases converted to EMI post facto, wallet loading transactions, cash advances, rental payment, purchase of gold/jewellery items, insurance premium payments, educational services, payment of outstanding balances, payment of
card fees and other card charges.

View attachment 16043
For example,
If the customer spends Rs. 35,000 in a billing cycle with the following break up of spends –
1. Recharge & Utility Bill payment through Google Pay: Rs. 5,000
2. Swiggy, Zomato & Ola: Rs. 10,000
3. Other spends on eligible cashback categories: Rs. 20,000
Out of these “Other spends”, Rs. 10,000 was an EMI purchase.
Thus, the total spends eligible for cashback would only be
Rs. 5,000 + Rs. 10,000 + Rs. 20,000 - Rs. 10,000 (EMI transaction) = Rs. 25,000
The cashback for the billing cycle in example would be calculated as follows:
1. 5% of Rs. 5,000 = Rs. 250
2. 4% of Rs. 10,000 = Rs. 400
3. 2% of Rs. 10,000 = Rs. 200
Since the combined cashback earned on 5% and 4% cashback eligible transactions is capped at
Rs.500, the cashback credited for these categories will be Rs. 500 and not Rs.650
Thus, the total cashback for the example would be Rs. 500+200 = Rs. 700
2. Education service payments will not be eligible for cashback.
3. Cashback earned in a statement cycle is credited against the outstanding of the next monthly statement.
An SMS will be sent every month which has the total amount of cashback earned in that statement. SMS of
cashback earned won’t be sent after every transaction.

It's a huge devaluation! But the good thing is axis bank still continues 2% cashback on other spends.

Rs500 is calculated per billing cycle?

Once the bill generated, after that day the cashback amount gets started from zero ?

 

[gamersgzb]

I

Is this 5% and 4% upto Rs500 is for billing cycle right , not the calender month?

Rs500 is calculated per billing cycle?

Once the bill generated, after that day the cashback amount gets started from zero ?

yes as per their calculations in the mitc document it calculates based on calender month...

 

[Piyush_Jaiswal]

I

Is this 5% and 4% upto Rs500 is for billing cycle right , not the calender month?

Rs500 is calculated per billing cycle?

Once the bill generated, after that day the cashback amount gets started from zero ?

Per billing cycle

Yes

 

[coolanshu1000]

With effect from 1st September 2023, Payments made towards government services (MCCs - 9399) will not be eligible for cashback.

 

[Chaitanya-a]

With effect from 1st September 2023, Payments made towards government services (MCCs - 9399) will not be eligible for cashback.

Ek bar me hi sara devaluation krdo bhai Axis walo daily daily kya tadka lagate ho😂

 

[Rocky Bhai]

Ek bar me hi sara devaluation krdo bhai Axis walo daily daily kya tadka lagate ho😂

Axis to their customers

 

[PavanPavan is verified member.]

Axis previlage is devalued too

 

[sleepysurya]

Axis previlage is devalued too

Privilege_TnC changes (axisbank.com)

 

[Strange]

With effect from 1st September 2023, Payments made towards government services (MCCs - 9399) will not be eligible for cashback.

You got sms today?

@jack333

 

[Harry1]

With effect from 1st September 2023, Payments made towards government services (MCCs - 9399) will not be eligible for cashback.

Utility again skipped🤣.

Remember most sites including travel sites come under utility category mcc. This is the only axis card, which is still not devalued and lucrative with 2% cb.

 

[hakunamatata]

With effect from 1st September 2023, Payments made towards government services (MCCs - 9399) will not be eligible for cashback.

Does this mean no cashback on Advance tax payments?

 

[JimCarrey]

Does this mean no cashback on Advance tax payments?

Yes, that and mainly NPS, property tax.
Axis has now plugged all the holes.

 

[jack333]

You got sms today?

@jack333

No bro haven't received any maybe because I've already closed ace card 🤣

 

[VISHESH_BANSAL]

No bro haven't received any maybe because I've already closed ace card 🤣

+1🤣

 

[kowsikbabu]

But the good thing is axis bank still continues 2% cashback on other spends

Isn't Scapia a better option? Since it also include Fuel spends