Yes Bank Credit Card Devaluation 2024

[ImKushal]

Hello Guys

Wanted to share Something important about Kiwi Yes Bank Credit card Silent Devaluation

I received the card at the end of September and used it extensively because it offered generous Kiwi rewards. For example, if I paid ₹10 for parking, I earned ₹12 worth of Kiwi points. For transactions under ₹50, I still got points, and for amounts above ₹50, I could easily earn points worth ₹4 to ₹20 or even ₹30. Overall, I earned rewards worth ₹900 in total.

Even for UPI transactions made through my bank account, I earned substantial Kiwi rewards.

However, in November, there was an update. I updated the Kiwi app, and now the entire rewards system is completely messed up.

Now, I don’t earn any rewards for bank UPI transactions. For Yes Bank Credit Card UPI payments, I get ₹1 worth of rewards for spending ₹50. Sometimes, even for spending ₹100 or above I barely get ₹1 or none at all.

I’m extremely frustrated. I spoke to customer service, and they said the earlier system was bugged, and now they have “debugged” it.

Previously, I used to get rewards worth ₹10 to ₹40 effortlessly for transactions of ₹50, ₹100, or more.

I’m considering closing the card.
What should I do?

 

[RupayMan]

If you expect bank to give rewards more than what you spent, that is called Greed, they won't run business in loss right, do you run a business like this?

 

[ImKushal]

If you expect bank to give rewards more than what you spent, that is called Greed, they won't run business in loss right, do you run a business like this?

1rs per 100₹ spend is justify tell me? Why didn't they fixed the bug earlier? Most of the time they don't even give kiwi rewards on 500rs spends why they hv to make fool to customers thn?

 

[RupayMan]

1rs per 100₹ spend is justify tell me? Why didn't they fixed the bug earlier? Most of the time they don't even give kiwi rewards on 500rs spends why they hv to make fool to customers thn?

That is their business strategy, Gpay, phonepe, cred nowadays giving any cashback? Rewards model is not a sustainable market for a long run going forward, you looted till today with their bug, happy with that.

 

[ImKushal]

That is their business strategy, Gpay, phonepe, cred nowadays giving any cashback? Rewards model is not a sustainable market for a long run going forward, you looted till today with their bug, happy with that.

Any other Card offer better rewards/cashback rate thn this? For daily usage UPI

 

[HumorSimpson]

No this is not devaluation. In the first 2 months it gives bonus points frequently and later it becomes rare . I am using kiwi for 4 months the bonus is sporadic. Yesterday I paid 20 Rs in a bakery still I got 40 kiwis

 

[ImKushal]

No this is not devaluation. In the first 2 months it gives bonus points frequently and later it becomes rare . I am using kiwi for 4 months the bonus is sporadic. Yesterday I paid 20 Rs in a bakery still I got 40 kiwis

So is there any way to keep using this card for regular Rewards if we get 4 Kiwi on 50rs or 100rs how we'll fully utilise it? And also CX told me yesterday now minimum Transction 50rs Required to get minimum 4 Kiwi

 

[Tonymathew]

Just one doubt op. Did you mean devaluation or devolution? Both aint same. However both fits the case, in different ways

 

[ImKushal]

Just one doubt op. Did you mean devaluation or devolution? Both aint same. However both fits the case, in different ways

My bad i fixed it thanks for letting me know!

 

[HumorSimpson]

So is there any way to keep using this card for regular Rewards if we get 4 Kiwi on 50rs or 100rs how we'll fully utilise it? And also CX told me yesterday now minimum Transction 50rs Required to get minimum 4 Kiwi

The regular reward of 2%CB is calculated on multiples of 50s. So you pay 50 rs you get 4 kiwis, 99 rs you get 4 kiwis, 100 rs you get 8 kiwis. This has been the same since the beginning.

The extra rewards (where you have to pop some sticker like duck, elephant, watermelon, ice stick) are sporadic. Even for ~20 rs bus ticket I got 5 kiwis just now .

 

[ImKushal]

The regular reward of 2%CB is calculated on multiples of 50s. So you pay 50 rs you get 4 kiwis, 99 rs you get 4 kiwis, 100 rs you get 8 kiwis. This has been the same since the beginning.

The extra rewards (where you have to pop some sticker like duck, elephant, watermelon, ice stick) are sporadic. Even for ~20 rs bus ticket I got 5 kiwis just now .

What is the App version you're using right now? Mine is 2.9.4.2

 

[HumorSimpson]

What is the App version you're using right now? Mine is 2.9.4.2

same 2.9.42 .. cashback depends on the backend logic , the app which is frontend doesn't have a role apart from facilitating a transaction.