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Devaluation Axis ACE devaluation - 1.18% charges on utility spends above 25k/month
The most utility based card is capped and devalued massively. The Axis 🪓 way, but nothing can be permanent.
@HumorSimpson Your GIF.
@HumorSimpson Your GIF.
Strange
TF Prestige
I think Axis will do the same devaluation to other cards.
Jhon Anand
TF Premier
Just received and honestly this is good, limits are high enough for majority of users including upper middle class ( even they don't have 25k+ utility for personal use)
This will allow them to curb the menace which is a single person paying multiple people's bills and money rotators.
This is a good step and I encourage every bank to impose reasonable limits like this instead of devaluing the card.
The cashback is still same, they could've reduced the cap or removed the 1.5% unlimited but they did a better step. It's still a great card at 500 annual fees considering the returns we get.
Hats off to axis, though I usually don't like them but I hope to see that other banks learn from this instead of devaluing and killing the card so genuine users don't face the consequences of the actions from a few bad people.
Strange
TF Prestige
They want to stop the commercial use of this card in Gpay app.
Jhon Anand
TF Premier
Either they give 1.5% for other utility or this looks same as Atlas so they're fixing same limits to all
Jhon Anand
TF Premier
And I'm loving it ☺️ ☺️
It's high time money rotators and commercial guys go and play with business cards and stop destroying personal card segment. Honestly hate those guys
You are correct, 10k on Gpay we can spend max for 500 CB. ACE is utility focused card, still they excluded utility rewards completely and imposed 1.18% charges. 25k limit is too less. Other most banks have given 50k limit.
They don't give 1.5% on utility anymore, utility was already excluded for rewards in previous round of devaluation.
Jhon Anand
TF Premier
Are you running a factory that 25k utility is less for your home 😂😂
Lol, I don't run any factory. I took this card purely for paying my personal utility bills amounting 30-35k average each month. And now I will close this , will shift my spends on HDFC DCB. Are you 🪓 employee, btw?
Jhon Anand
TF Premier
Damn that's a huge amount, dunno what your doing.
Nope I don't have any relation with axis and it's the only bank with which I had issues ever 🙂 But gotta appreciate the good points
A 4 BHK home, or even a house with 2 storeys with a slightly extended family having 5-6 people can have high electricity costs, especially in a few states. There could be 2-3 gas cylinders required every month, and reasonably high water bills, and something like 3K for family postpaid plus broadband/TV/DTH charges etc. 25K+ utility bill is likely not the norm, but it wouldn't be entirely unheard of either.
praneeth999
TF Select
Received same devaluation emails for pretty much every axis cc out there
Seems like they're still covering up for all the losses by points distributed in the last few years.
Even if you did a single rupee of utility payment via this card you won't be rewarded, instead of closing this keep the payment from this capped to 10k via gpay and use your other cards for rest of the payment. You can easily make Apay vouchers using DCB and pay utility bills using them.
Jhon Anand
TF Premier
Well I do get your point, my house is also 2 stories with my family and tenant living and our average electricity bill is usually 10-14k, reaching 17k in summers.
But I don't count that as personal, also if you live with extended family that's not something standard. The bank might be setting it up as per general norms and 25k is well within it.
Though I do agree it won't be the case usually even with personal bills as highlighted by you.
So 🪓bank issued paid cards with promise of giving unlimited 5% cashbak on Gpay, then they capped 500 CB and then further imposed 1.18% on utility and many other catagories. this is called unfair trade practice. if they changes card benifits in short notice then they should also refund annual/joining fees. RBI is sleeping .
