Devaluation Axis Bank Rewards credit card (Formerly CITI Rewards) devaluation w.e.f 20th December 2024

[akiratoriyama]

 

[tachniki]

Lol. They didn't put charges for redemption fees for this card.

Anyways not spending much on this card.

 

[akiratoriyama]

Lol. They didn't put charges for redemption fees for this card.

Anyways not spending much on this card.

I use it only for the swiggy twice a month offer lol

 

[tachniki]

I use it only for the swiggy twice a month offer lol

Exactly same use. 😁

 

[akiratoriyama]

Lol. They didn't put charges for redemption fees for this card.

Anyways not spending much on this card.

Ex citi users will be slowly boiled like a frog it seems

 

[Ram1]

Lol they didn't even completely integrated citi cards into axis cards. Yet there's a devaluation. Axis bank is a joke

 

[ankit_tf]

Only keeping this card for now because Citi rewards is my oldest card (10+yrs) and now has my 2nd highest CL due to merger. Only use is for swiggy and merchant offers.

 

[Ram1]

Only keeping this card for now because Citi rewards is my oldest card (10+yrs) and now has my 2nd highest CL due to merger. Only use is for swiggy and merchant offers.

Yeah many people stuck like this, couldn't close their first/old cc and damage cibil. Axis cashing it

 

[Riva]

Yeah many people stuck like this, couldn't close their first/old cc and damage cibil. Axis cashing it

There is no major impact on Cibil when u close your oldest card. It may drop a few points but it will come back. Iv closed 2 of my standard chartered cards which were my oldest in 2021.

 

[Ram1]

There is no major impact on Cibil when u close your oldest card. It may drop a few points but it will come back. Iv closed 2 of my standard chartered cards which were my oldest in 2021.

I don't think so, it takes months to gain points. I closed 1old hdfc card 3 months back, 8 points vanished yet to get back.
If the above guy closes 10year old card, his cibil will go down a lot

 

[jeevanreddy58]

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did not receive it yet... but for other axis cards, I have received email

 

[LeoDude78]

I use it only for the swiggy twice a month offer lol

Axis Bank is the biggest joke ever and worst Bank I've banked with. I had my Citi Credit Card for around 20 years with a good limit of over 9 lacs. They deactivated the Card saying I made a charge on some gambling / betting site which I have never. I had a Burgundy Account with them as well as the Citi Gold Account which was migrated over to Burgundy. They never issued me the Magnus Card despite maintaining their requirements. Last week I closed my accounts with them.
They really dealt a raw hand to Citi customers.
Adios Axis ...

 

[tachniki]

I don't think so, it takes months to gain points. I closed 1old hdfc card 3 months back, 8 points vanished yet to get back.
If the above guy closes 10year old card, his cibil will go down a lot

That is not true. It affects if you have about 5 years or lesser credit history. For 10 years plus, it has very less to no effect. We can always check in simulator to confirm.

 

[dexter_greycells]

I was hoping that Axis would let me choose from their existing credit cards when migrating over from Citi. Unfortunately for me they just migrated the Citi credit cards nearly as-is. I know non-credit card enthusiasts might be happy that "nothing is changing", not me though.

 

[Jolly Roger]

I don't think so, it takes months to gain points. I closed 1old hdfc card 3 months back, 8 points vanished yet to get back.
If the above guy closes 10year old card, his cibil will go down a lot

Not true for all, especially those with older credit history. I used CIBIL's score simulator to simulate what would happen if I closed my Citi Rewards card (oldest card, 10+ years). Zero impact. Score stays the same.

 

[akiratoriyama]

Axis Bank is the biggest joke ever and worst Bank I've banked with. I had my Citi Credit Card for around 20 years with a good limit of over 9 lacs. They deactivated the Card saying I made a charge on some gambling / betting site which I have never. I had a Burgundy Account with them as well as the Citi Gold Account which was migrated over to Burgundy. They never issued me the Magnus Card despite maintaining their requirements. Last week I closed my accounts with them.
They really dealt a raw hand to Citi customers.
Adios Axis ...

Did you escalate it to nodal/ombudsman? They similarly charged me rental surcharge on a transaction which wasn't of rent. I was unaware of technofino and escalations at that time otherwise karta.

 

[NeViLLe]

Even rewards redemption is devalued.. earlier I could use 10k points to get around 3.5k cash credit in my CC statement.. now they have removed that completely

 

[akiratoriyama]

Even rewards redemption is devalued.. earlier I could use 10k points to get around 3.5k cash credit in my CC statement.. now they have removed that completely

Not a day goes by when I don't miss citi, customer care wise and rewards wise.

 

[rogerthat]

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"After you are dead and buried, I will dig you up, kill you again and then bury you again" - Axshit