Devaluation does Axis IOCL and previlgae make sense ? NO IT DOESN'T MAKE SENSE

[Vasuki]

This card is a absolute garbage now
250 points only for non fuel transction in a month


It was good days when iocl was giving
4% on fuel (100-5000 ) without surcharge when used via upi
ANd reversal was 50k only
Considering we could use those points to redeem Multi brand voucher for 2*
effective it was 8%
Now ,
Iocl - 4% (400-4000) with surcharge on both upi & card

& Multi brand voucher is getting discontinued.

with 3.5 lakh r reversal on iocl .

it has been given cynide for quick death.


now only option to keep iocl would be
IF u have it LTF
And u have car ..


#Update

 

[MJN]

Both IOCL and Flipkart LTF ;

 

[Vasuki]

I'm chosen one. On FK Axis also they didn't extend any retention benefit or LTF or Fee waiver offer.

Only thing that is stopping me in closing FK Axis is that FK regularly provides best price on flagship mobile phones and with 5% unlimited cashback it becomes even sweeter. Like Presently iPhone 15 is listed @66k on FK and one can get Rs. 3300 Discount on FK Axis card.

Yes, SBI cashback is the solution but My Wife's SBI Cashback has low limit.

Take another sbi card & balance transfer.
Don't close Flipkart if you shop

 

[Vasuki]

View attachment 49365

Both IOCL and Flipkart LTF ;

Converted to ltf or was ltf

 

[MJN]

Converted to ltf or was ltf

Was L T F

 

[helloworld]

Fee waiver criteria for all axis bank cards works like this..

• Customers on-boarded from 20th April 2024, will receive fee waiver of Rs. xxx on the spends of Rs. <new waiver amount> in the preceding card anniversary year.
• For customers on-boarded before 20th April 2024, annual fee waiver will be applicable on cumulative spends of Rs. <old waiver amount> in preceding card anniversary year. However, for such customers, on card anniversary dates after 20th April 2025, fee waiver will be applicable on cumulative spends of <new waiver amount> in the preceding card anniversary year.

--------

In short,

If you apply and got approved, IOCL card before 20th April 2024, then your fee waiver for next year is 50k only. Then further renewals need 3.5L spends.

But,

If you apply and got approved, IOCL card after 20th April 2024, then your fee waiver for next year is 3.5L.

--------

So, those already have paid IOCL/Previlige card don't have to worry about extra spend criteria until your renewal + 11 more months.

Ex: Applied IOCL card on 1 Jan 2024, then fee waiver for 1 Jan 2025 is only 50k. So, have to spend 50k from 01-01-24 to 31-12-24. Further renewal means 1 Jan 2026 need 3.5L spends between 01-01-25 to 31-12-25. So, effectively these people will have 2 years to decide if 50k spent.

 

[bigbyte]

Take another sbi card & balance transfer.
Don't close Flipkart if you shop

Arre My SBI cards have sufficient Limit but I don't have cashback card.
Wife has only SBI cashback card with low limit.

 

[bugmenot]

Had privilege FYF and IOCL RuPay LTF. Redeemed all points for Myntra voucher before devaluation. Closed privilege because the retention offer was just setting off the annual fee.

Btw, which is the best rewarding RuPay CC within Axis pack?

I believe neo, myzone, iocl and Kwik cards are only in rupay. Sourcing of Kwik is stopped, confirmed by axis chat agent.

 

[Vasuki]

Had privilege FYF and IOCL RuPay LTF. Redeemed all points for Myntra voucher before devaluation. Closed privilege because the retention offer was just setting off the annual fee.

Btw, which is the best rewarding RuPay CC within Axis pack?

I believe neo, myzone, iocl and Kwik cards are only in rupay. Sourcing of Kwik is stopped, confirmed by axis chat agent.

Iocl still best rewarding .
But my point yet not come for any transaction post 21 March ..I m waiting 🙂

 

[bugmenot]

Iocl still best rewarding .
But my point yet not come for any transaction post 21 March ..I m waiting 🙂

Points credit has been too random with IOCL unlike Neu Infinity. Had to grill MD desk for UPI RP. So not using IOCL much.

 

[Vasuki]

Points credit has been too random with IOCL unlike Neu Infinity. Had to grill MD desk for UPI RP. So not using IOCL much.

It came late in iocl but came .
Rn rush is for 20th bcz of multi brand voucher uncertainty

 

[hhhdivakar]

READ THE BEST ANSWER:-
It was good days when iocl was giving
4% on fuel (100-5000 ) without surcharge when used via upi
ANd reversal was 50k only
Considering we could use those points to redeem Multi brand voucher for 2*
effective it was 8%
Now ,
Iocl - 4% (400-4000) with surcharge on both upi & card

& Multi brand voucher is getting discontinued.

with 3.5 lakh r reversal on iocl .

it has been given cynide for quick death.


now only option to keep iocl would be
IF u have it LTF
And u have car ..


#Update

I think for privileage Card on card renewal we will receive 10000 edge points.

Get 10,000 EDGE REWARD Points on achieving spends of Rs. 2.5 lakhs in a card anniversary year. Even with current 1/5 ratio value it is worth 2k. So it makes sense to keep privileage card

 

[Vasuki]

I think for privileage Card on card renewal we will receive 10000 edge points.

Get 10,000 EDGE REWARD Points on achieving spends of Rs. 2.5 lakhs in a card anniversary year. Even with current 1/5 ratio value it is worth 2k. So it makes sense to keep privileage card

12.5 k was 5k bro
10k.would be 2k ..

How's this even comparable


Previilage card isn't for spending 2.5 lakh unless for 10% discount

 

[rixypanther]

Did anything try UPI payments on petrol pump post 20 April ? What are the surcharge charges levied ?

 

[Vasuki]

Did anything try UPI payments on petrol pump post 20 April ? What are the surcharge charges levied ?

I tried ..will update..
I guess I did on 21 or 20 I don't remb

 

[Vasuki]

I tried ..will update..
I guess I did on 21 or 20 I don't remb

Did anything try UPI payments on petrol pump post 20 April ? What are the surcharge charges levied ?

No surcharge ..
Till now waiting for fuel points then will check again
I did 1000 rs transaction

 

[rixypanther]

No surcharge ..
Till now waiting for fuel points then will check again
I did 1000 rs transaction

It is advisable to do minimum 1000 Rs transaction coz then only entire surcharge would be waived off excluding 18 % GST on it which for 1000 would be Rs 1.8 . So 1000 Rs fuel would effectively cost Rs 1001.8

 

[rixypanther]

UPI transactions done using Axis IOCL card at IOCL pumps are not earning me any reward points. Have they stopped reward points on fueling using UPI ?

 

[Vasuki]

UPI transactions done using Axis IOCL card at IOCL pumps are not earning me any reward points. Have they stopped reward points on fueling using UPI ?

No points for me too

Here is the shock

They reduced other transaction points to 250 p/m

So basically close the card 🤣🤡

 

[bigbyte]

Bug fixed. RIP card.

 

[drsel]

UPI transactions done using Axis IOCL card at IOCL pumps are not earning me any reward points. Have they stopped reward points on fueling using UPI ?

You need to insert the IOCL card in the swipe machine in the Indian oil pump