Axis Bank Reserve credit card loophole patched - negative EDGE points balance

[TechnoFino]

Hey TFCians,

I want to bring to your attention that Axis Bank has reversed lakhs of EDGE points that were mistakenly credited due to a technical error. The bank had been offering a bonus of 50,000 EDGE points (Activation bonus) to Axis Reserve credit card users every time they replaced their credit card, and many users had taken advantage of this loophole to earn lakhs of reward points without spending any money.

What is activation bonus: The activation bonus is a perk offered by Axis Bank to its Reserve Credit Card customers. Upon getting the card and paying the joining or annual fees, the bank credits 50,000 bonus EDGE points to the customer's account. This bonus is known as the activation bonus and is provided to the customer at the time of joining and every year upon paying the annual fees.

However, Axis Bank has now taken action to correct this error and is reclaiming all the bonus points that were credited. Even those who have already transferred their points to partners will have a negative EDGE points balance and will not be able to escape this reversal.

If you have already closed your credit cards, you will not be impacted by this reversal process. Please keep this in mind and check your EDGE points balance to avoid any surprises.

 

[thanix]

Any insider information whether they fired that developer who wrote that piece of code?

 

[purush]

All the Loop holes reached me only after patched

 

[Abhishek012]

All the Loop holes reached me only after patched

All is well bro All is well....

 

[phagocyte536]

Any insider information whether they fired that developer who wrote that piece of code?

Product manager, QA bhi hota hai. Somehow all blame on developers

 

[Avijeet]

What are the currently active LOOPHOLES??
Please DM

 

[RewardsAlert]

What are the currently active LOOPHOLES??
Please DM

You may join our group to know more about interesting finds.
Only a handful of quality people are there presently after a thorough validation.
So, no information can escape!

 

[rajgopalsinghal]

You may join our group to know more about interesting finds.
Only a handful of quality people are there presently after a thorough validation.
So, no information can escape!

can i join

 

[RewardsAlert]

Hey TFCians,

I want to bring to your attention that Axis Bank has reversed lakhs of EDGE points that were mistakenly credited due to a technical error. The bank had been offering a bonus of 50,000 EDGE points (Activation bonus) to Axis Reserve credit card users every time they replaced their credit card, and many users had taken advantage of this loophole to earn lakhs of reward points without spending any money.

What is activation bonus: The activation bonus is a perk offered by Axis Bank to its Reserve Credit Card customers. Upon getting the card and paying the joining or annual fees, the bank credits 50,000 bonus EDGE points to the customer's account. This bonus is known as the activation bonus and is provided to the customer at the time of joining and every year upon paying the annual fees.

However, Axis Bank has now taken action to correct this error and is reclaiming all the bonus points that were credited. Even those who have already transferred their points to partners will have a negative EDGE points balance and will not be able to escape this reversal.

If you have already closed your credit cards, you will not be impacted by this reversal process. Please keep this in mind and check your EDGE points balance to avoid any surprises.

Good to see the efforts Axis is putting in to increase profitability and reduce the losses.

However their team is quite slow in detecting these loopholes.
While I am not a fan of these cases where a bank can legally reverse your points, and I only extract those which can be officially proven as Bank's fault after doing a lot of research and going through T&C via some internal bank sources.
There is still one premium card of Axis left open with this same loophole.

 

[RewardsAlert]

can i join

Please DM, we can review the same.

 

[Sandeepgupta0211]

Please DM, we can review the same.

Hi, I have a axis magnus and Amex platinum travel card. I have sent a request to add me to your premium group. Kindly accept my request.

 

[mohitgolcha]

Please DM, we can review the same.

Hey! Possible if i can join the group as well. I am new here, so cant dm

 

[CardSeeker]

All is well bro All is well....

funnily u didnt knew abt that else u post in twitter

 

[CREDITCARDKING]

Please DM, we can review the same.

Hey mate. Cant see an option to dm you. Can you open dms.

 

[RewardsAlert]

Hi, I have a axis magnus and Amex platinum travel card. I have sent a request to add me to your premium group. Kindly accept my request.

Hey! Possible if i can join the group as well. I am new here, so cant dm

Hey mate. Cant see an option to dm you. Can you open dms.

I would like to make it very clear that as earlier stated, our group is meant for Super Premium Cards.
Also, the focus is not on inviting a bulk quantity of people, the main goal is to have quality discussions regarding extracting maximum value, using some bugs, unexplored arenas, etc which are not publicly known.

I value your presence in this community but there are certain parameters we look upon before admitting anyone. If matched then you will receive an upfront invite or your request will be accepted.
So, this eliminates the need of DM'ing.
Hoping you all to have this understanding.

 

[mohitgolcha]

I would like to make it very clear that as earlier stated, our group is meant for Super Premium Cards.
Also, the focus is not on inviting a bulk quantity of people, the main goal is to have quality discussions regarding extracting maximum value, using some bugs, unexplored arenas, etc which are not publicly known.

I value your presence in this community but there are certain parameters we look upon before admitting anyone. If matched then you will receive an upfront invite or your request will be accepted.
So, this eliminates the need of DM'ing.
Hoping you all to have this understanding.

completely understand!
Regarding super premium cards, I do hold axis magnus and amex platinum travel. As i said, very new here so dont know if that qualifies as super premium or not.
If you can elaborate on the parameters, probably can try and achieve the same. Its been few months to holding magnus and have made few redemptions already. If the wonderful people in the community can help extracting max value , it'll be great.
Will wait for the invite. Thanks

 

[COmM4nDer]

You may join our group to know more about interesting finds.
Only a handful of quality people are there presently after a thorough validation.
So, no information can escape!

May I know how do I join the group?

 

[COmM4nDer]

May I know how do I join the group?

I have Axis Magnus & there are a lot of perks I am yet to understand. Would be great to know more from the CC spending experts.

 

[kkk]

You may join our group to know more about interesting finds.
Only a handful of quality people are there presently after a thorough validation.
So, no information can escape!

How to join?

 

[RewardsAlert]

How to join?

You have already been added basis your profile analysis.
Thanks!