AXIS BANK CLOSE FLIPKART AXIS CC FOR COMMERCIAL USE

[bhavik886151]

when i try to place an order today on Flipkart using my axis Flipkart CC
it declined 2 times
so call customer care to know the reason for transaction declined
customer care inform the CC is permanently close by the AXIS bank under commercial usage reason
i not received any email earlier like other mentioned here to prove the high usage of the axis credit card

 

[bhavik886151]

Farak padega kisiko.

Paytm Merchant Account ke through Some People are doing Credit Card to Bank Transfer in Lakhs or thousands Jisse IT and GST Scrutiny ke chances increase ho jate hai , aise Customers Card Block se darege kya jo IT ya GST Scrutiny se nhi dar rahe.

The thing you mentioned is fraud that you are just rotate the money with in your accounts and get the card benefits. while we make genuine purchase on there website spend money for goods and getting cashback dont count every one fraudster. Almost all the people buy goods and recharge etc. for there friends and Family using there personal CC and get the benefits so every one want to earn maximum cashback and points in every possible matter.

 

[VISHESH_BANSAL]

there is nothing mentioned like they can close the card without any intimation to the customer

Read the attached PDF.
MITC is general Tncs Applicable to all Cards.
Along with MITC you should read Card SpecificTnCs as well

 

[bhavik886151]

Read the attached PDF.
MITC is general Tncs Applicable to all Cards.
Along with MITC you should read Card SpecificTnCs as well

Bro i read it and there is also mentioned that they will call or email the customer to seek details, information or proof about credit card translation pattern of usage and if Non- satisfactory responses or no responses from the Cardholder may lead to blocking/closure of the Credit Card by Axis Bank

here i still not received any communication form the Bank till now.

 

[bhavik886151]

Nobody told you about keeping it below 6k cb every month just to be on safe side.

i am not justifying my usage but as per there MITC attached below

There is no limit on earnings of cashback on the credit card.

 

[VISHESH_BANSAL]

Bro i read it and there is also mentioned that they will call or email the customer to seek details, information or proof about credit card translation pattern of usage and if Non- satisfactory responses or no responses from the Cardholder may lead to blocking/closure of the Credit Card by Axis Bank

here i still not received any communication form the Bank till now.

1.
If the Credit Card is found to be used for prohibited, restricted, commercial purposes or any purposes as mentioned above, Axis Bank may, at its sole discretion, exercise its right to cancel the concerned Credit Card and additional/add-on cards thereof and withhold/cancel the Cashback earned, without any notice to the Cardholder.

Read again They can cancel without Notice.

2.
Axis Bank may enquire with you over phone or through any other means of formal communication and seek details, information, proofs, etc., about the Credit Card transactions, pattern of usage, etc. Non- satisfactory responses or no responses from the Cardholder may lead to blocking/closure of the Credit Card by Axis Bank.

Read again Axis used the word "May"
Axis enquire kar sakta hai , jaruri nhi hai enquire karega hi.

 

[bhavik886151]

Careless of me then, haven't read that in particular... The unglamorous side of having CCs

Don't try it with amazon Apay or any other cash back card they will definitely close the card if you use it for commercial purpose. they are now too strict for the usage and cashback. I still have 3 flipkart Axis card in my family so i don't mind it if one is close by Axis.

 

[kochiro]

i am not justifying my usage but as per there MITC attached below

There is no limit on earnings of cashback on the credit card.

Well yeah you can buy a 2 lac laptop and some iPhone 1 lac iPhone once a while and you will get 15k cashback but multiple transactions easily get noticed and they block them like these one . Same time in sale. They cancelled the order. Card still working though because I don't abuse it.

 

[Vikaas]

What's your cashback for a month????

1100 Rs per month

 

[saucy]

You people are making fun of credit card, credit card is for individual purpose and you all are using it for commercial purpose.That's why these credit card company devaluate the credit card.

Brother you do realise that these cashbacks and rewards are not being given to us from their pockets.
They MAKE PROFIT even after giving all these things.

Look at it like this - YouTube(credit card companies) makes Ad money because of the content creators (us the users)
Now, if youtube says - no this content pe i will not give you money or ban you from YouTube (which is arbitrary, as it's just reducing YouTube profits by some percent; not putting them in loss)

Would you find it ethical?

 

[CardTox]

Once upon a time when i was holding HDFC Money Back CC with 2l limit and i was getting no upgrade for 1 year.... I did a transaction, a single txn of 1.9l, thereafter hdfc upgraded my card and also increased my limit!!!

 

[saucy]

Once upon a time when i was holding HDFC Money Back CC with 2l limit and i was getting no upgrade for 1 year.... I did a transaction, a single txn of 1.9l, thereafter hdfc upgraded my card and also increased my limit!!!

Bike liya tha kya
Or laptop

 

[hardeep1singh]

Brother you do realise that these cashbacks and rewards are not being given to us from their pockets.
They MAKE PROFIT even after giving all these things.

Look at it like this - YouTube(credit card companies) makes Ad money because of the content creators (us the users)
Now, if youtube says - no this content pe i will not give you money or ban you from YouTube (which is arbitrary, as it's just reducing YouTube profits by some percent; not putting them in loss)

Would you find it ethical?

That's an incorrect comparison though. To make money from you, Banks rely on you buying stuff on EMI, making only a minimum payment and making payments over multiple months. If you buy stuff without EMI, take cashback and pay the bill in full. Banks aren't making any money from you. Over and above that, if you make commercial transactions and earn extremely high cashback. They lose a lot of money to you.

 

[CardTox]

Bike liya tha kya
Or laptop

No bhai, ek VIP number lia tha and txn was on Cash for Abhi platform, it was kinda service to convert the amount to cash. I also got cashback for that.

 

[CardTox]

No bhai, ek VIP number lia tha and txn was on Cash for Abhi platform, it was kinda service to convert the amount to cash. I also got cashback for that.

VIP mobile number from one of the VIP mobile number dealer in Delhi. He has no official portal for CC txn therefore he used Cash for Abhi portal to charge money from my CC.

 

[CardTox]

The number which i am talking about is like xxxxxxyzyz where x is same digit.

 

[saucy]

That's an incorrect comparison though. To make money from you, Banks rely on you buying stuff on EMI, making only a minimum payment and making payments over multiple months. If you buy stuff without EMI, take cashback and pay the bill in full. Banks aren't making any money from you. Over and above that, if you make commercial transactions and earn extremely high cashback. They lose a lot of money to you.

The transaction fees (MDR) is split between the issuer bank and gateway (MasterCard etc)
So, they do make money on every transaction. Nothing compared to what they make on interest and emi txns, but it's still there (and does add up to a large amount, considering the very high amount of txns going through)

 

[bhushan0101]

That's an incorrect comparison though. To make money from you, Banks rely on you buying stuff on EMI, making only a minimum payment and making payments over multiple months. If you buy stuff without EMI, take cashback and pay the bill in full. Banks aren't making any money from you. Over and above that, if you make commercial transactions and earn extremely high cashback. They lose a lot of money to you.

This incorrect for cashback card like amazon and flipkart these companies provide some percentage of commission to the card issuer bank to increase there sale and bank pass the portion of commission through cashback to the customer and over these MDR also there. Kindly verify information before posting.

 

[MOhit __]

The number which i am talking about is like xxxxxxyzyz where x is same digit.

Don't you think you wasted money on this?

 

[golu]

when i try to place an order today on Flipkart using my axis Flipkart CC
it declined 2 times
so call customer care to know the reason for transaction declined
customer care inform the CC is permanently close by the AXIS bank under commercial usage reason
i not received any email earlier like other mentioned here to prove the high usage of the axis credit card

Can you share the name of merchants on which you used your card and transaction amount.

 

[Wealth is my birth right!]

Not tagging any since 3 or 4 spoke up the cc revenue model yes couple of points are true like how banks make money by issuing cc:
-MDR share
-Indirect lending (if we fail to pay by due date)
-Increased interest for loans on cc that too from customer who doesn’t have account with them and no documentation too
Product design is to make us get into debt trap and give emi option so that it’s a good profit for banks

Last line:
To avoid trap I always spend in a card for the extent of my savings account balance and further I gave auto debit to the cards wherever possible (not for Amex cards) to avoid further consequences if we forget to pay bill manually