Devaluation Axis Bank ACE Credit Card Devaluation – Cashback will be given based on the spend category instead of MCC w.e.f 20th June 2025

[Strange]

 

[HumorSimpson]

What does it mean ? can someone explain ?

 

[asok]

Axis Ace Credit Card Devaluation – Jewellery Category Now Fully Excluded from Cashback

I recently got the Axis Ace Credit Card mainly for jewellery purchases, especially from Kalyan Jewellers. While MCC 5944 (Jewellery Stores) has always been excluded from cashback, purchases under MCC 5094 (Precious Stones and Metals) were still eligible. So far, I’ve been regularly making purchases under 5094 and successfully getting cashback.

However, I received a message today from Axis Bank informing me about an upcoming devaluation. They stated that, for simplicity, instead of excluding specific MCC codes, they’ll now exclude entire categories. As a result, the entire jewellery category (both 5944 and 5094) will be excluded from cashback going forward.

This is a major blow for people like me who used the Ace card strategically based on MCCs. I specifically applied for this card after seeing its consistent cashback benefits, and now the value proposition has taken a hit.

Just wanted to share this update here for anyone who’s using the Ace card for similar purposes. Check your messages and plan accordingly.

Anyone else affected by this change?

 

[CyberPsych]

What does it mean ? can someone explain ?

When you do a transaction, a 4 digit merchant code is assigned to that transaction. When that 4 digit code falls under bank's exclusion list, it will not provide cashback.

Now they are not going to check 4 digit code instead they will check only "category".

 

[HumorSimpson]

Now they are not going to check 4 digit code instead they will check only "category".

Aren't those effectively the same?

 

[Aniket]

Aren't those effectively the same?

Category is a broader term. Having said that, banks usually practice to exclude all or major (renowned) MCCs for a particular category, eventually making the same effect.

 

[Farhad sekh]

Aren't those effectively the same?

Bank's may have missed MCC code for something for exclusion

Now they will only check category
So it is easy for banks

 

[HumorSimpson]

Category is a broader term. Having said that, banks usually practice to exclude all MCCs for a particular category, eventually making the same effect.

So let's say yatra app has Railway MCC, but as per category does it fall under travel?