Taking a Stand Against The Axis Bank Credit Card Circus

[Random123]

People have time to read and comment on posts, but not finding time to submit invoices. Rings suspicion.

Well to be fair, they are asking for literally all transactions giving 5 EM which in my case were many during trip and also included offline transactions in foreign country. The phone cc executive was even saying he wouldn't be able to submit docs for the same. Then after reaching to their premium banking mail support, they reverted with the merchants which was better than asking for all merchants. Submitted the same and waiting for the response. I can understand why they are doing this exercise but don't agree with how they are doing it. Atleast giving specific transaction IDs which trigger their alerts and asking for those details makes it easier for both the parties. I for one try to read and comment since could get idea from experience of others and share the same if I can. And finding time to get invoices is time taking and impossible sometimes. Both need not be co-related right 🙂

 

[raviemailid]

People have time to read and comment on posts, but not finding time to submit invoices. Rings suspicion.

It is a fairly non-linear assumption to be made in that sentence. It's like saying, you've time to post, but not go plant a tree and contribute for global warming. Why to assume that people who are posting here are not submitting bills? Also, the effort to read and comment is lot simpler and present, compared to boring lethargic task of digging 6 month old bills.

Anyway - I submitted the bills yesterday and I got the response from the Axis Bank today. Seems like they are fine with my docs and it'll take them 5 days to unblock.



I did see people saying that they haven't received any issue from Axis Bank yet. I'd say that it could be just matter of time before Axis does it.

Sanjeev Moghe- President of Cards and Payments, Axis Bank said, "Senior level Axis Bank officers have vetted the transaction pattern of these people whose Atlas reward points redemption were suspended. We have taken this action after careful consideration and only after noticing the transaction patterns over a long period of time. We would like to clarify that we have not cancelled the reward points, they were only suspended for redemption pending the outcome of the investigation of the proofs submitted by the specified customers."

There are many issues with that statement by Mr Moghe. I took the card in September and they are looking for expenses made between Sep-Nov - how can they find a pattern if Sep is the first month of card issuance? The transaction pattern they flagged is random. He is also saying a transaction pattern over a long period of time - there is no statistical parameter of assessment over a "long period of time". Someone might have done just 10 transactions in 3 months and someone might have done 300 transactions in the same period. Rather than period of time, there should have been adequate data points to form the baseline.

Whatever. Hopefully, things will go fine and my points will be unblocked. I am not cancelling the Atlas card yet, but I'll have absolutely zero faith in the company and minimize my usage to only those 10RP segments and I'll be prepared to provide those masters bills of the same.

 

[MangoRush]

What if Axis does the same thing again after few months ?

 

[raviemailid]

What if Axis does the same thing again after few months ?

As I said, I'll limit my Axis transactions to only those that give me 10RP.

I feel it'll be fairly limited - most likely 1-2 transactions a month. Since it'll be limited to a few transactions, if Axis ever comes back (they surely will, maybe to same users, maybe to others), it'll not be difficult for me to produce the invoices.

Its a bank, I understand they want to run their business fairly - but their whole process seems way flawed.

 

[MangoRush]

It's a Travel card, people are going to spend for Travel needs.
Instead of this fiasco, why not limit the miles to a reasonable limit or reduce CL.
There are so many different ways, each of which is way better than they handled the Magnus/Atlas situation.

 

[RAMESH BABU N]

It is a classic case for all other banks to learn....

Why go overboard to launch such cards ?
Bend backwards and do everything to market/sell them ?
And, when users use them extensively, pull back your feet and do this circus ?

Probably, these guys created this product based on two-three years of data - lopsided Covid-impacted data - and must NOT have
expected such large scale spending on travel- even after factoring 20-25% inflation due to manufactured sales.

I am eager to see the outcome and the impact of this on other Banks.

 

[HumorSimpson]

It is a classic case for all other banks to learn....

Why go overboard to launch such cards ?
Bend backwards and do everything to market/sell them ?
And, when users use them extensively, pull back your feet and do this circus ?

Probably, these guys created this product based on two-three years of data - lopsided Covid-impacted data - and must NOT have
expected such large scale spending on travel- even after factoring 20-25% inflation due to manufactured sales.

I am eager to see the outcome and the impact of this on other Banks.

This is no different than online jobs scams.

First ask the victim to like/review some establishment and pay them 100 - 1000rs. Gain their trust. Later ask them to deposit few lakhs, luring them 10x lakhs. Finally flee with the deposited money.

Here Axis from Magnus days doing the same. Gain the trust by rewarding first 3 months and later freeze their account.

 

[chasni]

It is a fairly non-linear assumption to be made in that sentence. It's like saying, you've time to post, but not go plant a tree and contribute for global warming. Why to assume that people who are posting here are not submitting bills? Also, the effort to read and comment is lot simpler and present, compared to boring lethargic task of digging 6 month old bills.

Anyway - I submitted the bills yesterday and I got the response from the Axis Bank today. Seems like they are fine with my docs and it'll take them 5 days to unblock.

View attachment 46073

I did see people saying that they haven't received any issue from Axis Bank yet. I'd say that it could be just matter of time before Axis does it.

Sanjeev Moghe- President of Cards and Payments, Axis Bank said, "Senior level Axis Bank officers have vetted the transaction pattern of these people whose Atlas reward points redemption were suspended. We have taken this action after careful consideration and only after noticing the transaction patterns over a long period of time. We would like to clarify that we have not cancelled the reward points, they were only suspended for redemption pending the outcome of the investigation of the proofs submitted by the specified customers."

There are many issues with that statement by Mr Moghe. I took the card in September and they are looking for expenses made between Sep-Nov - how can they find a pattern if Sep is the first month of card issuance? The transaction pattern they flagged is random. He is also saying a transaction pattern over a long period of time - there is no statistical parameter of assessment over a "long period of time". Someone might have done just 10 transactions in 3 months and someone might have done 300 transactions in the same period. Rather than period of time, there should have been adequate data points to form the baseline.

Whatever. Hopefully, things will go fine and my points will be unblocked. I am not cancelling the Atlas card yet, but I'll have absolutely zero faith in the company and minimize my usage to only those 10RP segments and I'll be prepared to provide those masters bills of the same.

Someone even got the notice for their Rs 500 for Hakka noodles. This begs the question how competent are these Senior officers?

 

[HumorSimpson]

Someone even got the notice for their Rs 500 for Hakka noodles. This begs the question how competent are these Senior officers?

Genuine users are getting hakka bakka with their wims.

 

[bing1309]

Till today no issues with axis I get points for insurance utility or whatever no restrictions and it's done on personal use as always sometimes the transactions edge shows 000000 for every spends and at a bulk they put without even saying for what when calculated for all 00000 what edge shown its matching. I spend for myself around 6l or so. In my case I never get pre approved or limit raise etc it depends on case to case profile to profile and even one time by mistake also if a commercial swipe has taken place then keep in mind you are flagged. (Despite I have my own pvt ltd and pos has 0 merchant charges I test on the machine and no issue. As I said my profile they don't give benefits I have to struggle to get but on the flip side no such issues (not easy to get stuff once I get stuff then no problem from bank) others case would be easy to get from bank later suffer.

 

[navam]

Toh ab yeh batao doston, I have a hospital expense coming up (1lk approx) was planning on using atlas, should I avoid it and just use Infinia?
Kalko yeh CT scan na maang le

 

[praveensudhakaran]

Talkin' about the magnus monthly bonus which took return to 25% on 1 lakh per month spends.

2 thing happened -
Rbi warning about p2p rent payment .. ( which was good way to complete tier milestone in atlas ..

Then axis sending this notice email to everyone..
I was like F**k it ..

Yes the ppl from 2023 may was saying atlas gonna devalue .. happened this week 😅

I activated my atlas today 🫣

 

[Vasuki]

I activated my atlas today 🫣

Here's a tip ..once u get 5000 em
Call customer care to cancel card .. they will offer 1000 em points before sending to retention team. . take it

Use it

Then its your call to keep the card or not ..
But i will atleast get 1000 em points extra

 

[praveensudhakaran]

Here's a tip ..once u get 5000 em
Call customer care to cancel card .. they will offer 1000 em points before sending to retention team. . take it

Use it

Then its your call to keep the card or not ..
But i will atleast get 1000 em points extra

I get it after paying 5K+taxes right🤣🤣

What if they block my card just after payment?

 

[Vasuki]

I get it after paying 5K+taxes right🤣🤣

What if they block my card just after payment?

Then axis is doing real dil se welcome to you .

 

[sharad131]

It is a fairly non-linear assumption to be made in that sentence. It's like saying, you've time to post, but not go plant a tree and contribute for global warming. Why to assume that people who are posting here are not submitting bills? Also, the effort to read and comment is lot simpler and present, compared to boring lethargic task of digging 6 month old bills.

Anyway - I submitted the bills yesterday and I got the response from the Axis Bank today. Seems like they are fine with my docs and it'll take them 5 days to unblock.

View attachment 46073

I did see people saying that they haven't received any issue from Axis Bank yet. I'd say that it could be just matter of time before Axis does it.

Sanjeev Moghe- President of Cards and Payments, Axis Bank said, "Senior level Axis Bank officers have vetted the transaction pattern of these people whose Atlas reward points redemption were suspended. We have taken this action after careful consideration and only after noticing the transaction patterns over a long period of time. We would like to clarify that we have not cancelled the reward points, they were only suspended for redemption pending the outcome of the investigation of the proofs submitted by the specified customers."

There are many issues with that statement by Mr Moghe. I took the card in September and they are looking for expenses made between Sep-Nov - how can they find a pattern if Sep is the first month of card issuance? The transaction pattern they flagged is random. He is also saying a transaction pattern over a long period of time - there is no statistical parameter of assessment over a "long period of time". Someone might have done just 10 transactions in 3 months and someone might have done 300 transactions in the same period. Rather than period of time, there should have been adequate data points to form the baseline.

Whatever. Hopefully, things will go fine and my points will be unblocked. I am not cancelling the Atlas card yet, but I'll have absolutely zero faith in the company and minimize my usage to only those 10RP segments and I'll be prepared to provide those masters bills of the same.

You submmited the invoices on the provided web link or emailed to premium support?

 

[IcyFrag]

I was planning to apply for Atlas (Have an pre-approved offer) today since I need to invest more 25K in NPS this year before 31st Mar. Also as I have multiple travel plans in the upcoming months (around 5-6L) I feel Atlas benefits would have suited perfectly with the current reward structure. But with this Atlas fiasco, not sure I should apply it now. Any views/suggestions?

Currently holding:
HDFC DCB (plastic)
ICICI Sapphiro (dual)
SBI CASHBACK
Axis Ace
IDFC Wealth (only use it for BOGO)

 

[praveensudhakaran]

I was planning to apply for Atlas (Have an pre-approved offer) today since I need to invest more 25K in NPS this year before 31st Mar. Also as I have multiple travel plans in the upcoming months (around 5-6L) I feel Atlas benefits would have suited perfectly with the current reward structure. But with this Atlas fiasco, not sure I should apply it now. Any views/suggestions?

Currently holding:
HDFC DCB (plastic)
ICICI Sapphiro (dual)
SBI CASHBACK
Axis Ace
IDFC Wealth (only use it for BOGO)

Similar case for me

Instead of DCB, its Regalia and I don't have SBI. Got atlas yesterday

 

[raviemailid]

You submmited the invoices on the provided web link or emailed to premium support?

I emailed to premium support.

 

[raviemailid]

But with this Atlas fiasco, not sure I should apply it now. Any views/suggestions?

I think you should. The reward points are fairly good. Since you are seeing the hassle, you'll be prepared if it happens. Some of the direct travel or large scale travel guve good returns. Keep bills handy for 6 months. I am pissed with the bank, but the card benefits are still fairly good. I'll keep it till it's gets devalued, but will be mindful of the investment.