Axis Bank Canceling Personal Credit Cards for Business Expenses Without Notice | Part 3

[TechnoFinoTechnoFino is verified member.]

Hey TFCians,

On 14th March 2023, I posted here on TF Community that Axis Bank was issuing cancellation notices to their customers( Read here: https://www.technofino.in/community...onal-credit-cards-for-business-expenses.9027/) who used their cards for commercial purposes. They sent notifications to lots of customers and suspended their EDGE reward point accounts. They asked such customers to submit supporting documents to prove that they were not conducting any business transactions using their personal credit cards. Many months later now, Axis Bank has started reviewing those documents, and if they find any issue with the documents, they are canceling the credit card straight away without sending any intimation to the customer.

A few members on TFC sent me DMs and screenshots of the email, which I'm going to post here.



I was talking to an unknown man from Axis Bank. According to him, there are many people who forged their documents to apply for Axis Magnus and Axis Reserve. They even joined some Telegram and WhatsApp groups to learn more about how people prepare such forged documents. Such customers are also going to get affected. You might know about Amex financial review, Axis Bank is also implementing similar measures.

 

[theglobalinvestor]

Im not saying that banks should not give reward points/cashback.

1st thing, all banks should remove rewards from Utility, Insurance, Wallet load, Govt spend, Education spend, Rent etc.

2nd thing, Banks should offer rewards/cashback only on e-commerce purchases and offline purchases.

3rd thing, 1% cashback is enough for premium cards and 1.5% to 2% cashback for super premium cards.

4th and last thing, ya "It's Human psychology as simple as that." You can't give guarantee about future generations. They will also be greedy for reward points like us. We can develop such a mindset in our future generation that we use credit cards only to make our lives easier and save our time. That is all.

Our previous generation and our generation too still use cash. Even some educated people still use cash (educated means im talking about those people who know how to use mobile, credit cards, banking apps, payment apps etc). No rewards we get for using cash but still they are using cash. Why ? because "It's Human psychology". We get used to what we use. All the greedy people in India already have credit cards and they have become habituated to using 40-50 days interest free credit cards, now people in Tier 2, Tier 3 cities or other tier cities prefer to use 40-50 days interest free credit card payment system. 95% people dnt care about reward points etc. They just need a 40-50 days interest free credit card and nothing else.

Are you senior management at axis credit cards division?

 

[Abhishek012]

Are you senior management at axis credit cards division?

Ya, im from Axis RAT team. You don't know ? 🤣🤣

 

[pothi]

Im not saying that banks should not give reward points/cashback.

1st thing, all banks should remove rewards from Utility, Insurance, Wallet load, Govt spend, Education spend, Rent etc.

2nd thing, Banks should offer rewards/cashback only on e-commerce purchases and offline purchases.

3rd thing, 1% cashback is enough for premium cards and 1.5% to 2% cashback for super premium cards.

4th and last thing, ya "It's Human psychology as simple as that." You can't give guarantee about future generations. They will also be greedy for reward points like us. We can develop such a mindset in our future generation that we use credit cards only to make our lives easier and save our time. That is all.

Our previous generation and our generation too still use cash. Even some educated people still use cash (educated means im talking about those people who know how to use mobile, credit cards, banking apps, payment apps etc). No rewards we get for using cash but still they are using cash. Why ? because "It's Human psychology". We get used to what we use. All the greedy people in India already have credit cards and they have become habituated to using 40-50 days interest free credit cards, now people in Tier 2, Tier 3 cities or other tier cities prefer to use 40-50 days interest free credit card payment system. 95% people dnt care about reward points etc. They just need a 40-50 days interest free credit card and nothing else.

I can't believe this. Is this account hacked?

 

[Deleted member 9785]

I can't believe this. Is this account hacked?

ab axis card continue karta hi kaun hai

 

[D₹V]

ab axis card continue karta hi kaun hai

Wo nahi.

Abhishake ke duhre niti pr comment kiya hai usne 🤣.

 

[realjayt]

Im not saying that banks should not give reward points/cashback.

1st thing, all banks should remove rewards from Utility, Insurance, Wallet load, Govt spend, Education spend, Rent etc.

2nd thing, Banks should offer rewards/cashback only on e-commerce purchases and offline purchases.

3rd thing, 1% cashback is enough for premium cards and 1.5% to 2% cashback for super premium cards.

4th and last thing, ya "It's Human psychology as simple as that." You can't give guarantee about future generations. They will also be greedy for reward points like us. We can develop such a mindset in our future generation that we use credit cards only to make our lives easier and save our time. That is all.

Our previous generation and our generation too still use cash. Even some educated people still use cash (educated means im talking about those people who know how to use mobile, credit cards, banking apps, payment apps etc). No rewards we get for using cash but still they are using cash. Why ? because "It's Human psychology". We get used to what we use. All the greedy people in India already have credit cards and they have become habituated to using 40-50 days interest free credit cards, now people in Tier 2, Tier 3 cities or other tier cities prefer to use 40-50 days interest free credit card payment system. 95% people dnt care about reward points etc. They just need a 40-50 days interest free credit card and nothing else.

Supreme Commander switching sides!!!🌚

 

[Deleted member 9785]

Wo nahi.

Abhishake ke duhre niti pr comment kiya hai usne 🤣.

sabkuch chalne do bas referrals band hone chaiye cards and apps me 🙂

 

[D₹V]

sabkuch chalne do bas referrals band hone chaiye cards and apps me 🙂

Wo bhi chalega.

AMEX referral na hota 🤭 to 90% logon ko pata bhi nahi chalta 😂.

 

[creditcardkakida]

Supreme Commander switching sides!!!🌚

Naah.. supreme commander who kept looting earlier is now acting Sadhu baba preaching about satkarma😂😂

 

[ksen13]

Bol kaun raha hai 🤣🤷

Jo SBI cashback se 3% earn karke ka trick batata hai 🥱.

Exactly mujhe bhi ajeeb laga ye post ko dekh kar . Just I am checking his name that ye abishek012 hya to or koi other?

 

[ksen13]

I can't believe this. Is this account hacked?

Bhai hacked huwa Hain I am sure 🤣
I can't believe that abishek Bhai is telling this

 

[ksen13]

Supreme Commander switching sides!!!🌚

Bhai ko abhi utna visa mastercard mein interest nahi hain 🥲

 

[D₹V]

Exactly mujhe bhi ajeeb laga ye post ko dekh kar . Just I am checking his name that ye abishek012 hya to or koi other?

Uska kaam hi yahi hai 🤣🤷