Revised terms and conditions for Spend based milestones

[AsB]

Devaluation alert
Affected cards- all axis bank credit cards
Effective from date- 5/03/2023
1% surcharge for rent payment upto Rs. 1500 per transaction.
No Reward points for Insurance premium payment.
Rent, Wallet transactions will not be counted towards monthly milestone benefit & annual fees reversal.



Full details here - http://Axbk.in/UNlPi9NbP1k

 

[Sharjeelshaikh]

I have a question, apologies if this was covered already. The maintenance + electricity of my apartment gets paid on PayTm and operates as a prepaid meter. If I use Magnus to pay that, will that spend count towards monthly milestone?

Depends on MCC code of Paytm .better pay electricity bill through Amazon pay

 

[dealsense]

If one pays rent through Magnus card post 5th March on Payzapp (through Red Girraffe), will that be counted as insurance payment or rent payment?

Yes. I did a rental transaction on Mar/2. Though i have not received the regular rewards till now and ticket is still open with their customer service but they have explicitly confirmed that this transaction will be considered for the milestone benefit.

 

[WhoU]

Yes. I did a rental transaction on Mar/2. Though i have not received the regular rewards till now and ticket is still open with their customer service but they have explicitly confirmed that this transaction will be considered for the milestone benefit.

But how did you make the rental txn?

 

[dealsense]

But how did you make the rental txn?

Yeah, that was tricky. First I tried with Magicbricks and Nobroker but Axis bank was rejecting all rental transactions through them. After that I paid society maintenance charges from Adda which also falls under rental category.

 

[akshay_m]

Depends on MCC code of Paytm .better pay electricity bill through Amazon pay

PayTm is the only vendor apart from IMPS/NEFT. This payment goes to the apartment maintenance company and not to the government utility given we dont have individual electricity meters from the utility

 

[gowthamselvam]

Ok, here is the response from Axis Magnus Support (Premium.Experience@axisbank.com)
@helloworld @cmg @004archit

This is what I wrote


This is what they replied

Hi @Copycat
Your Question - b) That Insurance payments will be included in the monthly spend milestone calculation.
Their response - B) As of now for milestone benefit of 25000 edge reward points on achieving the spends of 1 Lakh in a calendar month, the wallet transactions were not considered as spends for milestone benefit. However, effective from 05-03-2023 the rental transaction spends will also not be considered for milestone benefit.

They have mentioned that rent is excluded from the monthly milestone. However insurance payment is considered for monthly milestone. am i correct ?

 

[Copycat]

Hi @Copycat
Your Question - b) That Insurance payments will be included in the monthly spend milestone calculation.
Their response - B) As of now for milestone benefit of 25000 edge reward points on achieving the spends of 1 Lakh in a calendar month, the wallet transactions were not considered as spends for milestone benefit. However, effective from 05-03-2023 the rental transaction spends will also not be considered for milestone benefit.

They have mentioned that rent is excluded from the monthly milestone. However insurance payment is considered for monthly milestone. am i correct ?

Yes, insurance payment is considered in the monthly milestone
Per transaction limit for insurance is 1L (i.e. 6000 ER). If you pay 1.1 lakh in a single transaction you will still get only 6000 ER, however 1.1 lakh will be considered in your monthly & annual milestones

 

[gowthamselvam]

Yes, insurance payment is considered in the monthly milestone
Per transaction limit for insurance is 1L (i.e. 6000 ER). If you pay 1.1 lakh in a single transaction you will still get only 6000 ER, however 1.1 lakh will be considered in your monthly & annual milestones

@Copycat Thank you for your response.

 

[TheMentalist]

@copy Thank you for your response.

Cat out of the bag @Copycat 🤣