Many have received email from Axis asking justification for using Bharthnxt app.
Last edited:
-
Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.
PSA : Stop using BharatNXT immediately
- Thread starter ChurningNoob
- Start date
ThriftyPlasticPundit
TF Premier
imo, as a bank i won't tolerate any fabricate or rotation regardless of my products offer awards or not.
But i can see alot of ppl do this and bank usually play along.
using a credit card to fabricate spend is like creating a mirage of financial stability. It may appear impressive on the surface, but the reality is hollow and unsustainable. genuine payments and responsible bill management are the true pillars of financial well-being
CC is a very profitable business - https://www.screener.in/company/SBICARD/
Lol, ultimately its all business. Axis is spending their personnel time on identifying the culprits. This comes at a cost. If the benefits are not greater than costs, nobody would indulge into it. Not even Axis. They know this activity will be a regular activity. They will have to eradicate culprits from time to time. Unless they have an AI doing this work for them (which might be true in few years)
What is Tata cliq gold coin stopped? Is that voucher no longer available for use on Tata Cliq? Is it only Yatra now?
Did anyone receive any notice from other banks other than Axis for bhtNxt txns? I have been using Yes, SBI, HDFC, BOB and Kotak CC on BhtNxt to transfer more than 1l per month to my friend's account and then pay CC bill and to earn reward point of utility category.....
ThriftyPlasticPundit
TF Premier
it's crucial to understand the purpose of credit cards and promote responsible financial practices. The philosophy of credit cards in India seems to have deviated from its intended purpose.
In comparison to the European market, the benefits offered in India, such as an INR 8,000 discount on a phone purchase, 5% Amazon gift card rewards, and potential milestone vouchers, seem enticing. then on top, you get 1% for paying your bill.
Engaging in practices like using Snap to fabricate transactions undermines the profitability and value of credit cards. When reports are run and such misuse is identified, it leads to devaluation of cards. Instead, the focus should be on utilizing credit cards responsibly, saving money, and achieving financial milestones.
By using credit cards for their intended purpose and making sound financial decisions, individuals can benefit from the convenience and rewards offered while maintaining the integrity of the credit card system.
But again, i think people won't change and keep using shady practices.
I
used HP pay direct load in jan and feb. After that I switched to Fastag which is safer. So HP pay transaction of either jan or feb.
The first time is an effort. One has to write the sql query to identify patterns. Example select * from table where MID=xxx AND trxValue>yyy
Once this is done, they can automate this process every month.
I worked for a US credit card issuer and I could see a lot of generic rules and TTL expiration rules. The one with TTL expiry are little expensive as it needs maintenance.
This is why identifying those individuals who are revolving extensively (while getting full Reward points) and then blacklisting them is the best thing bank can do. It can be set as an example for future looters as well.
ThriftyPlasticPundit
TF Premier
agree, I'll go one step further and add one demerit point in cibil for rotation if spends are very high.
Akash Topder
TF Premier
Half of Magnus holders use the card for points mining with manufactured spends! This is bound to happen.
Do you know what is the MCC code of snapay?
Abhishek012
TF Pioneer
Utility bill category. I think MCC code - 4900
swipesmart
TF Select
If I'm genuinely paying rent for 75K and even pay TDS for it. Then also I should not use BharatNxt?
If not, then using redgiraffee + payzapp can be fine ?
If not, then using redgiraffee + payzapp can be fine ?
I could only read up to Page 3 of this particular post, so I might not have the later updates. But, I believe the ask by Axis Bank is straightaway illegal and you should give a stern reply along with marking a copy to the PNO of Axis Bank (pno@axisbank.com) based around the following points:
1. The invoices so requested are my private information and as such I am not comfortable sharing the same with you.
2. The tone of your email and your action of blocking my edge rewards until and unless I provide such private and personal information is essentially a form of extortion under Section 383 of the IPC whereby you are threatening to cause material harm to me by withholding my reward points and/or blocking my card until and unless you receive my personal property i.e. my private information.
3. Besides the above, you also intend to breach my fundamental right to privacy guaranteed under Article 21 of the Constitution which has been upheld by the honorable Supreme Court multiple times.
4. Therefore, I request you remove this threat and block on reward point redemption that you have placed to dishonestly induce my personal property from me. If you do not cease your illegal actions, being a law-abiding citizen, I will have no other recourse than to approach RBI Ombudsman, or/and appropriate Law Enforcement Agencies to register an FIR or/and file a writ against your coercive action.
5. Have a good day, and as you felt comfortable asking for this information to be shared in only 7 days from my side, I believe the TAT for ceasing your illegal action should also be less than 7 days. So kindly, do not send a TAT more than that.
1. The invoices so requested are my private information and as such I am not comfortable sharing the same with you.
2. The tone of your email and your action of blocking my edge rewards until and unless I provide such private and personal information is essentially a form of extortion under Section 383 of the IPC whereby you are threatening to cause material harm to me by withholding my reward points and/or blocking my card until and unless you receive my personal property i.e. my private information.
3. Besides the above, you also intend to breach my fundamental right to privacy guaranteed under Article 21 of the Constitution which has been upheld by the honorable Supreme Court multiple times.
4. Therefore, I request you remove this threat and block on reward point redemption that you have placed to dishonestly induce my personal property from me. If you do not cease your illegal actions, being a law-abiding citizen, I will have no other recourse than to approach RBI Ombudsman, or/and appropriate Law Enforcement Agencies to register an FIR or/and file a writ against your coercive action.
5. Have a good day, and as you felt comfortable asking for this information to be shared in only 7 days from my side, I believe the TAT for ceasing your illegal action should also be less than 7 days. So kindly, do not send a TAT more than that.
Last edited:
Nope that won't work, if a mcc of a merchant is declared as business and if bank cc issuer ask for invoice why should someone be afraid to give them cause they already have Most of the information and failed to compliant will result into cancel the card. So this email was send by axis to a individual who must have rotate money for 3 month straight that too equal to 1 lakhs cause no one other magnus issuer have shared they too have received such mail yet cause they may have done small amount or it a Genuine transaction through bharatnxt. In this case axis is giving a chance to this individual vs just cancel the card cause as per tnc of any CC you shouldn't use a cc other than personal use. I appreciate your shared such information that I didn't knew but in this case cc issuing bank can ask for Invoice and a individual need to send invoice.
For what it's worth, hypothetically, I might be buying sex toys or undergoing medical procedures or doing X number of personal things and do not feel comfortable sharing such invoices, and under the laws of our country, I don't need to share invoices or disclose my spending to the bank unless it is a regulatory ask (PMLA/FEMA).
If the bank has a problem with this merchant or MCC, what they can legally do after proper notice and disclosure is to not provide reward points or allow these transaction to go through.
But, they can't ask for your personal information and invade your privacy with a metaphorical gun to your head.
You can ask a lawyer, and he will concur that what axis bank is doing is illegal in this instance.
Sharjeelshaikh
TF Premier
Bank is the lender or issuer of cc in t&c it's clear they can terminate without notice .
Just because they write things in T&C, doesn't mean it is legally enforceable or cannot be voided. There are several instances where certain clauses have been stricken off by the courts. This is why you would see the severability clause in most contracts:
Besides, I doubt this is mentioned in their MITC document ( Most Important Terms and Conditions) and if it isn't, it has no chance of standing up in court as being part of a boilerplate fine print. You could highlight all of these things in the email as well, though I doubt that would be required.
Similar threads
- Question
