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

[TechnoFinoTechnoFino is verified member.]

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.

 

[rdov]

Can you please consider me for the group as well? @RewardsAlert

 

[Vikash_Kumar]

Please add me to the group @RewardsAlert

 

[TheMentalist]

@RewardsAlert get the title of this thread changed as well 🤣

 

[RewardsAlert]

Hi, Request if you can add me to the group if possible. Thanks.

Have sent you an invite.

 

[RewardsAlert]

@RewardsAlert can you please add me if possible please? Thanks

Awaiting my review as well! thanks

@RewardsAlert Pls add me if possible

@RewardsAlert kindly request you to go through my profile and add me if eligible

Please add me to the group @RewardsAlert

I have reviewed your profiles, and would like to request you to kindly improve your posting frequency and content on the forum.
Due to some restrictions, every member cannot be added directly.
Hope you'll understand.

 

[Namans]

@RewardsAlert
Hi, I just wanted to check if I’m eligible. Thanks

 

[vengolf]

Please add me to the group @RewardsAlert

 

[ssnthegenius]

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! 😉

Add me.

 

[shubhamrai]

There is a pre requisite to possess a VIP lounge tag prior to entry, or please ensure if you can prove possession of a super premium card in some other way.

Can i join?

 

[shubhamrai]

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

 

[jhanglaniyash]

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! 😉

Hey, can i join? I am unable to dm you

 

[James2307mr]

To everyone who wish to join the private groups, kindly visit https://www.technofino.in/community/groups/ and click "Join Group". Your profile will automatically be reviewed and accordingly decision would be made.

I request you all to stop spamming this thread for join requests and keep the conversation limited to the thread title.

 

[luciferlucifer is verified member.]

add me

 

[seekndestroy99]

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.

Can I join as well please? I have Magnus & DCB

 

[indcreditcard]

Requesting a review of my profile for the group too. Hold a magnus amongst others 😛

 

[knight]

Entire thread be like...

 

[Banking101]

Koi mujhe bhi andar lo

 

[samba113]

@RewardsAlert Can you please add me into group. I have infinia and Magnus credit cards

 

[arko]

Please add me to the group @RewardsAlert

 

[Arosaurabh]

There is a pre requisite to possess a VIP lounge tag prior to entry, or please ensure if you can prove possession of a super premium card in some other way.

Hi, Request please add me to the group.