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

[akiratoriyama]

 

[Jolly Roger]

I have this card since 2007 from citibank and now merged with axis. I am holding on to it because it saved me in many difficult situations. Now I use it for swiggy discounts! Current limit is 22L! 😇

Something similar. 20 years or so. Such amazing service, amazing memories. Again only reason it is still there is sentimental. And I too only use it for Swiggy discounts! CL is 25L!

 

[kmkmahesh]

I am also holding this card because my first card is from CITI, yesterday itself i received the new card from Axis Bank, I too keeping this card because this is the first card, My calculation is different as for every 125 spent on apparels we can get 20 reward points due to 10X. So if we exchange it for vouchers like amazon pay for 1000/- GV costs 5000 points. 3.2% is there in reward redemption, correct me if i am wrong.

 

[drsel]

I am also holding this card because my first card is from CITI, yesterday itself i received the new card from Axis Bank, I too keeping this card because this is the first card, My calculation is different as for every 125 spent on apparels we can get 20 reward points due to 10X. So if we exchange it for vouchers like amazon pay for 1000/- GV costs 5000 points. 3.2% is there in reward redemption, correct me if i am wrong.

1120 points for 7000 spend on Apparel.

 

[jeevanreddy58]

1120 points for 7000 spend on Apparel.

10X (20 EDGE REWARD) Points for every 125 spent on Apparel and Departmental stores (3.2%) (Max 7k spends per month)

For net spends greater than INR 7000 under these categories, the customer will earn 2 EDGE REWARD points per INR 125 spent and in multiples thereof. (0.32%) Meh

 

[Riva]

Besides the poor reward rate, another issue with this card was that the apparel stores for 10x are not mentioned anywhere. This was the case even when the card was with Citi. And Citi customer care also could not give you the breakup of the individual points earned. It was a hassle trying to tally the points at the end of the statement. I almost never use this card now and my last use case for to pay tax of approx 40k. I met the 30k fee waiver and the 30k monthly milestone.

 

[helloworld]

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.

I have this card since 2007 from citibank and now merged with axis. I am holding on to it because it saved me in many difficult situations. Now I use it for swiggy discounts! Current limit is 22L! 😇

Something similar. 20 years or so. Such amazing service, amazing memories. Again only reason it is still there is sentimental. And I too only use it for Swiggy discounts! CL is 25L!

If you want same Cibil account history, then axis bank happily upgrade/downgrade to any edge rewards card which carries same Cibil account history.

But, closing never impact score after all these years. Have to accept and move on or find alternative, is the only thing we can do.

 

[helloworld]

Besides the poor reward rate, another issue with this card was that the apparel stores for 10x are not mentioned anywhere.

Same for every card unlike IndianOil there is no card that provides category specific rewards, no where mention those stores anywhere for any bank.

If it provides 10% grocery, we have to find those grocery mcc stores. If it provides 5% utility, then we only have to find where we can get utility mcc.

I'm not aware any bank issued store list for this pupose (except IndianOil cards).

This was the case even when the card was with Citi. And Citi customer care also could not give you the breakup of the individual points earned. It was a hassle trying to tally the points at the end of the statement.

Its easy to find reward points for each transaction in Axis, transaction history provides break up for each transaction.

netbanking -> edge rewards -> transaction history.

 

[Riva]

Same for every card unlike IndianOil there is no card that provides category specific rewards, no where mention those stores anywhere for any bank.

If it provides 10% grocery, we have to find those grocery mcc stores. If it provides 5% utility, then we only have to find where we can get utility mcc.

I'm not aware any bank issued store list for this pupose (except IndianOil cards).



Its easy to find reward points for each transaction in Axis, transaction history provides break up for each transaction.

netbanking -> edge rewards -> transaction history.

Yes now on tht Axis app yes. But when the card was with Citi, I had to call customer care and many times they would just try and guess the points assigned and were able to tell for sure.

 

[helloworld]

Yes now on tht Axis app yes. But when the card was with Citi, I had to call customer care and many times they would just try and guess the points assigned and were able to tell for sure.

I generally call for mcc and find myself.

 

[NeViLLe]

It's pointless to own this card anymore... anyone knows how to close this card? There is no option available on the mobile app or netbanking... or maybe I can't find it

 

[drsel]

It's pointless to own this card anymore... anyone knows how to close this card? There is no option available on the mobile app or netbanking... or maybe I can't find it

Call Customer care and theaten to close it
they will offer you some retention benefit.
Let us know what retention benefit they offer and I will guide you whether it is worth it or not.

 

[helloworld]

It's pointless to own this card anymore... anyone knows how to close this card? There is no option available on the mobile app or netbanking... or maybe I can't find it

🙂 Just out of curious, what changed in this card to make it pointless all of sudden?

 

[drsel]

🙂 Just out of curious, what changed in this card to make it pointless all of sudden?

I think he is referring to the 20 December 2024 de valuation.
But I don't think there is much impact

 

[helloworld]

I think he is referring to the 20 December 2024 de valuation.
But I don't think there is much impact

Yes, not much changes unless they're using for utilities which is bad card from the beginning for that purpose.

 

[dexter_greycells]

🙂 Just out of curious, what changed in this card to make it pointless all of sudden?

Earlier you kept it because it was your first card, oldest card or your only Citi card and worked for Citi specific offers. Now because it is Axis and you since already have other Axis cards, there is no point. Just a guess though.

I am keeping mine since I this is my only Axis card. Plus I occasionally do use the PayTM movie ticket and Swiggy discounts. Had Axis allowed me to swap the Rewards card with something else I'd have immediately taken them up on that offer and got the Cashback, Ace, Airtel or even the Neo / MyZone. I did like the never expiring points and the statement credit redemption without any redemption charges. With Axis though the points now have an expiry date.