Axis Bank Declined Reward Points

[puneet1408]

I have recently purchase a Smartphone using my Axis Magnus Burgundy Credit card from a local shop in Delhi. As I did not receive the reward points in 7-10 days I wrote an email to axis bank and they replied that the reward points will be credit in T + 15 days. (T = Transaction Date).

When I have not received the points in my account even after a month I wrote another email asking for the same.

This time they said that the transaction was not eligible for any reward points as the Merchant Code that the transaction was charged for was for "Telecommunications Equipments" and now "Utilities & Telecom" are in the exclusion list of transaction for reward points.

They have shared this link:

https://www.axisbank.com/docs/default-source/default-document-library/credit-card-tnc/terms-and-conditions-for-magnus-burgundy-credit-card.pdf

Have anyone else faced the same issue?
Any suggestions on how to deal with it?

Or Axis Bank have completed downgraded their cards.

 

[hellowo₹ld]

yes, applies every credit card company. Its not based on what u purchase but based on what mcc u receive.

It doesnt matter if u dine in a fine restaurant, if theyre using fuel pos then rewards based on that.

https://technofino.in/community/members/hellowo%E2%82%B9ld.3393/#profile-post-7712

 

[6ix9ine]

Any suggestions on how to deal with it?

Move on. Nothing can be done now.

 

[Wealth is my birth right!]

I have recently purchase a Smartphone using my Axis Magnus Burgundy Credit card from a local shop in Delhi. As I did not receive the reward points in 7-10 days I wrote an email to axis bank and they replied that the reward points will be credit in T + 15 days. (T = Transaction Date).

When I have not received the points in my account even after a month I wrote another email asking for the same.

This time they said that the transaction was not eligible for any reward points as the Merchant Code that the transaction was charged for was for "Telecommunications Equipments" and now "Utilities & Telecom" are in the exclusion list of transaction for reward points.

They have shared this link:

https://www.axisbank.com/docs/default-source/default-document-library/credit-card-tnc/terms-and-conditions-for-magnus-burgundy-credit-card.pdf

Have anyone else faced the same issue?
Any suggestions on how to deal with it?

Or Axis Bank have completed downgraded their cards.

Just forget this and have peace of mind
Axis made their terms clearly that either mcc or product or company whatever the case their decision about reward points is final
Honestly they are unable to sustain with Magnus reward rates that’s why all these drama
Anyways thanks for sharing
Particularly an eye opener for those who pay 35k for a card in expectation of good rewards
Time to think of closure this year

 

[xylo101]

Wasnt there some update from Axis Bank that effective June/July 25 they will not consider MCC but the category of the transaction category? Are they now going against their own policies??

 

[tachniki]

Wasnt there some update from Axis Bank that effective June/July 25 they will not consider MCC but the category of the transaction category? Are they now going against their own policies??

They will choose what suits them best.

 

[puneet1408]

Wasnt there some update from Axis Bank that effective June/July 25 they will not consider MCC but the category of the transaction category? Are they now going against their own policies??

Yes but they never communicated those updates. When I emailed them they also admitted that they did not send me any email or sms about those changes.

 

[puneet1408]

Just forget this and have peace of mind
Axis made their terms clearly that either mcc or product or company whatever the case their decision about reward points is final
Honestly they are unable to sustain with Magnus reward rates that’s why all these drama
Anyways thanks for sharing
Particularly an eye opener for those who pay 35k for a card in expectation of good rewards
Time to think of closure this year

Yes I am planning to close mine as well. Will keep it for this year only as I have already paid the annual fees.