Axis ACE Card devalued

[coolanshu1000]

Sad news for all Axis ACE lovers.. with effect from 15.06.2023, there is combined upper cap of 500 rs for cashback on bill payments using GPAY(5%) and 4% categories (swiggy, zomato, ola).

 

[Mr. Aman]

Finally, sad news for all ACE lovers.. now there is combined upper cap of 500 rs for cashback on bill payments using GPAY(5%) and 4% categories (swiggy, zomato, ola).

this is a major devaluation.

 

[ashishsinghi]

the cash back king axis ace credit card has been devalued now.

 

[ccdc]

go to hell with axis bank...i think it should file for bankruptcy....

 

[doomlord]

RIP my favourite card

 

[dhiraz]

 

[jurbu3]

 

[Shrinit Padwal]

the cash back king axis ace credit card has been devalued now.

Really sad, just got this card 10 days back🥲

 

[bismaj]

Received email that Axis Ace 5% category and 4% category now is limited to Rs500 per month cashback limit
2% category cashback limit remains unlimited
changes applicable from 15 th june 2023.

 

[Shrinit Padwal]

Abhi abhi toh Mila tha card mujhe🥲

 

[sheru]

Just got this notification.

Customers will earn a maximum cashback of ₹ 500 on transactions made on 5% and 4%
cashback eligible transactions combined, and unlimited cashback on 2% cashback eligible transactions for bonafide personal use.

Attaching the PDF.

 

[Sri.yadav]

Dear All,

W.e.f. 15th June, 2023, all the purchases (minus returns and refunds) made by you using the card will be eligible for rewards as provided below:

Spends on​ Reward​ Max cashback​ Bill payments (electricity, Cashback water, gas, LPG, and broadband), DTH and mobile recharges through Google Pay​ 5% Cashback​ Rs. 500 (on transactions made on these categories combined included Swiggy,Zomato and ola cashback)​ Swiggy, Zomato and Ola​ 4% Cashback​ ​ Other merchants*​ 2% Cashback​ Unlimited​

Now we you can earn only 500rs per month thorugh gpay, swiggy,zomato and ola .

*Cashback shall not be eligible on fuel spends, EMI transactions, purchases converted to EMI post facto, wallet loading transactions, cash advances, rental payment, purchase of gold/jewellery items, insurance premium payments, educational services, payment of outstanding balances, payment of card fees and other card charges.

For example,

If the customer spends Rs. 35,000 in a billing cycle with the following break up of spends –

●​ Recharge & Utility Bill payment through Google Pay: Rs. 5,000 ●​ Swiggy, Zomato & Ola: Rs. 10,000 ●​ Other spends on eligible cashback categories: Rs. 20,000 Out of these “Other spends”, Rs. 10,000 was an EMI purchase.

Thus, the total spends eligible for cashback would only be

Rs. 5,000 + Rs. 10,000 + Rs. 20,000 - Rs. 10,000 (EMI transaction) = Rs. 25,000

The cashback for the billing cycle in example would be calculated as follows:

●​ 5% of Rs. 5,000 = Rs. 250 ●​ 4% of Rs. 10,000 = Rs. 400 ●​ 2% of Rs. 10,000 = Rs. 200

Since the combined cashback earned on 5% and 4% cashback eligible transactions is capped at Rs. 500, the cashback credited for these categories will be Rs. 500 and not Rs. 650

Thus, the total cashback for the example would be Rs. 500+200 = Rs. 700

We shall not send an SMS of cashback earned after every transaction. Instead, we shall send an SMS every month which has the total amount of cashback earned in that statement period. This cashback is credited against the outstanding of your next monthly statement.

 

[bismaj]

i also got this message few minutes earlier.

 

[Ashique]

It seems like everything beyond 2% is temporary

 

[ccdc]

axis bank should file for bankruptcy

 

[Cccc]

Credit card se bharosa hi uth gaya hain

 

[Mr. Aman]

Abhi abhi toh Mila tha card mujhe🥲

real tragedy happened with u bro

 

[MinatoFlash]

Hi,
I've received an SMS from AXISMR saying that terms related to cashback on Axis ACE will be revised w.e.f 15th June 2023 . Max cashback amount for 5% and 4% reward capped to Rs 500. Did anyone else got this SMS or its just for me ?

 

[arg16]

Airtel axis is more valuable now after devaluation of axis ace,
If your utility spends are less or equal to 3000₹

 

[Mr. Aman]

Hi,
I've received an SMS from AXISMR saying that terms related to cashback on Axis ACE will be revised w.e.f 15th June 2023 . Max cashback amount for 5% and 4% reward capped to Rs 500. Did anyone else got this SMS or its just for me ?

all ace card users got that sms bro