Devaluation Axis ACE Credit Card Huge Devaluation Alert

[hakunamatata]

Yup, I still haven't received any devaluation email nor is it mentioned on thier site. Come June 15th I'll have to ask them how should I possible know of this change of they've never conveyed it to thier customers nor updated thier website.

Check promotion and spam emails

 

[dungeonMaster]

Received invite of this card after devaluation 🥲

 

[vikasbrb]

do I get cashback if I pay flat registration charges using ACE CC?

 

[helloworld]

do I get cashback if I pay flat registration charges using ACE CC?

Cashback shall not be eligible for following spends/transactions on the card,

• Fuel Spends
• EMI transactions
• Purchases converted to EMI post facto
• Wallet loading transactions
• Cash advances
• Payments made through MCC 6513 ( payment of management fees, rental commissions, rental payments or any such payments)
• Payment of outstanding balances
• Payment of card fees and other card charges
• Purchase of gold/jewelry items(all transactions made on MCC – 5944)
• Insurance premium payments (all transactions made on MCC – 6300).

MCC depends on Swipe machine they registered (in case Offline), Payment gateway designed category (in case online)

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Do a sample transaction on that swipe machine / payment gateway, if received any message saying eligible for 2%, you're good to go.

Note: SMS may not come always, two persons availing same benefit with different POS machines/Payment gateways get different MCCs.

Its all about MCC, and a sample transaction always recommended before doing any high value transaction.

 

[Rohith_Kumar_Sp]

Check promotion and spam emails

Nope. I check my spams regularly

 

[It_is_Naruto]

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.

Good I saw this now. Was thinking of getting it as next card 😛..Thanks

 

[sheru]

Cashback shall not be eligible for following spends/transactions on the card,

• Fuel Spends
• EMI transactions
• Purchases converted to EMI post facto
• Wallet loading transactions
• Cash advances
• Payments made through MCC 6513 ( payment of management fees, rental commissions, rental payments or any such payments)
• Payment of outstanding balances
• Payment of card fees and other card charges
• Purchase of gold/jewelry items(all transactions made on MCC – 5944)
• Insurance premium payments (all transactions made on MCC – 6300).

So will it give 2% on govt payments, advance tax, municipal tax etc?

 

[hakunamatata]

Nope. I check my spams regularly

View attachment 17690

Check promotions too

 

[Rohith_Kumar_Sp]

Check promotions too

Bro I check my emails regulary, I never let it unread. I have OCD, trust me axis haven't sent me any emails regarding devaluation

 

[Sreekar]

How about using ACE on BharatNxt app ? Does it qualify for 2% Cashback ? Fortunately/Unfortunately I received the new ACE card today and not sure where to use. Hence trying on BharatNxt app.

 

[Strange]

How about using ACE on BharatNxt app ? Does it qualify for 2% Cashback ? Fortunately/Unfortunately I received the new ACE card today and not sure where to use. Hence trying on BharatNxt app.

You will get 2% cashback but don't use it too much as there is a risk of card cancellation.

 

[VISHESH_BANSAL]

How about using ACE on BharatNxt app ? Does it qualify for 2% Cashback ? Fortunately/Unfortunately I received the new ACE card today and not sure where to use. Hence trying on BharatNxt app.

Card Apply kya soch ke kiya thha?

Ace is specifically for Utility Bill Payments via Gpay.
and offline txns

 

[Sreekar]

Card Apply kya soch ke kiya thha?

Ace is specifically for Utility Bill Payments via Gpay.
and offline txns

Mostly Swiggy orders, Ola, Uber expenses and offline spends too. Thank you @Strange !

 

[Chaitanya-a]

Card Apply kya soch ke kiya thha?

Ace is specifically for Utility Bill Payments via Gpay.
and offline txns

Nobody knows the value of 5 min more than @VISHESH_BANSAL

 

[ADITYA1904]

Nobody knows the value of 5 min more than @VISHESH_BANSAL

Hehehe…

 

[Abhishek012]

How about using ACE on BharatNxt app ? Does it qualify for 2% Cashback ? Fortunately/Unfortunately I received the new ACE card today and not sure where to use. Hence trying on BharatNxt app.

Snapay and BharatNXT both are best app for Axis ACE card, Axis Magnus and other Ultra Premium credit cards.

Its count under Utility bill payment and you will get 2% cashback for Axis ACE card or Milestone benfit also count for Axis Magnus credit card holders.

charges are just 1%+GST and transfer to bank. Snapay is best because you can transfer to your own bank account.

 

[ADITYA1904]

Are you sure we get 2% cashback on ace? I mean its great, never tried due to cashback credited in next statement so we can immediately confirm that we got cashback unless we wait…

 

[Abhishek012]

Are you sure we get 2% cashback on ace? I mean its great, never tried due to cashback credited in next statement so we can immediately confirm that we got cashback unless we wait…

Yes

 

[VISHESH_BANSAL]

Nope. I check my spams regularly

View attachment 17690

Today Axis sent Devaluation Communication again via SMS and E-Mail.

I hope this time you have received it.

 

[humptydumpty]

I

Today Axis sent Devaluation Communication again via SMS and E-Mail.

I hope this time you have received it.i

Today Axis sent Devaluation Communication again via SMS and E-Mail.

I hope this time you have received it.

I didnt got any communication today from axis , last time i did got devaluation email