Axis Bank Credit Card Cancellation Notice: Another Round Of Card Cancellation & Some Unknown Updates

[TechnoFinoTechnoFino is verified member.]

Hello TFCians,
I'm sure you are aware of the recent credit card cancellation notices that have been sent to many users. Screenshots of these notices are being shared across various groups, Twitter, and our community as well. Numerous individuals have received these notices, requesting clarification on transactions made with merchants intended for business purposes. Personally, I find it implausible to present transactions from merchants like show bharatNXT as personal expenses.

Source: Thread started by ChurningSidd
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However, what you may not be aware of is that Axis Bank is actively tracking a list of individuals. Those on Twitter playing the "community game" or selling loopholes are unaware that they are being monitored. Someone, or possibly a few individuals, is sending emails to Axis Bank officials. I won't answer how I know all of this for obvious reasons.
You may be wondering how Axis Bank found out about the reserve and Axis Magnus travel edge bugs. Actually, those loopholes were reported to Axis Bank officers by some individuals; they didn't discover them on their own.

Axis Bank has already reviewed the credit card transactions of some heavy spenders and gained insight into how their customers are rotating money. You can expect to see more cancellation notices sent to numerous customers in the near future.
One individual, for instance, was using their credit card to purchase lakhs worth of fuel every month, leading to the cancellation of their credit card as well.

It is strongly advised not to use your credit card for business purposes or to rotate money. If you have engaged in such practices in the past, it is recommended to transfer your points as soon as possible.

 

[ashnd]

I have also received this email for the merchant instant Mudra technology. I do not recognise this name, customer service on the phone, said that I should receive an email within 24 hours with details of transactions. I do not want to believe them, should I email them and the nodal officer?

 

[ARV]

What is the subject of the mail?

Non-personal usage of your Axis Bank Credit Card(s)

 

[nandhakumar]

I have also received mail yesterday with mentioned bhartnxt merchant but I till the time I was not done single transaction in bharatnxt.in mail mentioned particular bharatnxt.
Now what I do anyone else face this problem.
If I mail to axis or wait

 

[VijayflyRaven]

I have received the email today for merchant bspl and now they want invoice or evidence for payments under BSPL merchant category my 270000 edge rewards suspended what to do now?

You did not transfer when the rumour was floating? Why?

 

[VijayflyRaven]

I have also received mail yesterday with mentioned bhartnxt merchant but I till the time I was not done single transaction in bharatnxt.in mail mentioned particular bharatnxt.
Now what I do anyone else face this problem.
If I mail to axis or wait

If you received email, you need to respond. Ask them for the transaction date, transaction value, merchant name in statement. Without these you cannot identify the transaction in question. Tell them you don’t see the merchant’s name in statement.

 

[Deleted member 9785]

Axis needs to first perform this check : Card expenses / Total ITR income

If this is greater then 50% start the investigations.

 

[ALOAK]

I have received the email today for merchant bspl and now they want invoice or evidence for payments under BSPL merchant category my 270000 edge rewards suspended what to do now?

You must have the receipt that you paid for this amount send it.

 

[Wealth is my birth right!]

Axis needs to first perform this check : Card expenses / Total ITR income

If this is greater then 50% start the investigations.

The Axis bank should get ITR details for it
While issuing card they should have done this
Now they want to hold 75000 Edge Rewards from us hope everyone here have last 3 months milestone benefits pending
Lets see how it goes

 

[Deleted member 9785]

 

[captaintorchtm]

The Axis bank should get ITR details for it
While issuing card they should have done this
Now they want to hold 75000 Edge Rewards from us hope everyone here have last 3 months milestone benefits pending
Lets see how it goes

its a lot of work after approving cards with shitty criteria (C2C, less salary etc), only if they had approved cards based on only High ITR/Salary slip ....

 

[MilesMax]

How to tackle this situation if axis sends me an email? There are very high chances I will get the notification sooner or later, I have used bhartnxt @TechnoFino

I use BharatNXT too. Every month for rent payment. I think it's the value of the transaction that matters? Or the pattern?

 

[ALOAK]

I have also received mail yesterday with mentioned bhartnxt merchant but I till the time I was not done single transaction in bharatnxt.in mail mentioned particular bharatnxt.
Now what I do anyone else face this problem.
If I mail to axis or wait

Match the amount and date that you have transacted with your statement. Tell them this is merchant I used and not sure what the backend name is registered for this merchant

 

[vina]

What's the problem in using credit card for legit business payments?

It is not allowed by the credit card company

You should use a business credit card for that

 

[Deleted member 9785]

Axis bank to Gamers - Social media campiagns karke ab tum

 

[vina]

I use BharatNXT too. Every month for rent payment. I think it's the value of the transaction that matters? Or the pattern?

They had sent notice in the past on use of bharatnxt to some users

I stopped paying rent with it immediately after that

Must have paid once or twice

 

[ALOAK]

The Axis bank should get ITR details for it
While issuing card they should have done this
Now they want to hold 75000 Edge Rewards from us hope everyone here have last 3 months milestone benefits pending
Lets see how it goes

ITR does not give full picture of what one does. Jugaad is too much by people in bharath and other countries youtube influencers. This should not be a problem as long as it is getting cleared and not used for fraud transactions. Banks get into spot when payment do not come to them. Although I agree they mint money when people don't pay correctly. What if they don't pay at all. I have seen in bank where people use credit card and run away. Banks develop NPA half the NPA are not reported properly.

 

[Sharjeelshaikh]

ITR does not give full picture of what one does. Jugaad is too much by people in bharath and other countries youtube influencers. This should not be a problem as long as it is getting cleared and not used for fraud transactions. Banks get into spot when payment do not come to them. Although I agree they mint money when people don't pay correctly. What if they don't pay at all. I have seen in bank where people use credit card and run away. Banks develop NPA half the NPA are not reported properly.

Aisi banks ke liye mallya jaisa aadmi ho barabar hai .jagah pe bamboo daalke nikal liya...na block hua na redemption suspend

 

[ALOAK]

Aisi banks ke liye mallya jaisa aadmi ho barabar hai .jagah pe bamboo daalke nikal liya...na block hua na redemption suspend

Mallaya was given funds during 2004 congress govt and commission was received by all bankers who funded him even though risk was flagged . But top management made huge money jncluding branch managers and seniors. Last me he left bharath because he got a wind of him been stopped from leaving one day before he flew away.banks always fund fraudsters because they make money out of it. For one simple card issuance they ask so many docs and reject . Everything depends on sales team.

 

[VijayflyRaven]

For money rotation and filthy stuffs, better to use filthy banks as we don’t mind losing them. Since Axis is giving us superb deals, better stay clean with Axis.

Sample: Dr Jekyll and Mr.Hyde
Use Axis legitimately. Now to pay axis bank credit card, rotate money using a filthy bank like PSU (except BOB) or Yes bank. The filthy bank often offers no rewards and hence they don’t chase you. Enjoy rotation as well as miles.

 

[rogerthat]

BSPL seems to be providing share trading and settlement services. So if you have used your credit card on anything to do with the share market they might be the end processing party.