It seems like Axis Bank is implementing this strategy every month to identify business spenders and close their cards. While it may be a good idea to prevent misuse, there are reports of genuine spenders also receiving such notices, which is concerning.
Axis Bank has sent out similar notifications in the past, and I am mentioning the URLs of both threads for reference.
Thread 1: Axis Bank Issuing Cancellation Notices for Using Personal Credit Cards for Business Expenses
Thread 2: Axis Bank Credit Card Cancellation Notice: Another Round Of Card Cancellation & Some Unknown Updates
Screenshot of email notification:
Many recipients of the notification are unaware of the merchant name Axis Bank mentioned in the email. This indicates that Axis Bank might have made a mistake in identifying genuine business spenders. While it is important for Axis Bank to prevent excessive business spends due to their high reward rates, it should not be problematic for someone who has spent 1L or 2L in 3 months. Several customers have reported receiving notices despite having only spent 2L in the last 3 months.
Received notice?
If you are facing the possibility of card cancellation, there are steps you can take to prevent it. Consider emailing Axis Bank with detailed proof that the transactions were personal and not related to business expenses. Explain everything in detail and request Axis Bank not to block your card. In the past, I have faced a similar situation, and Axis Bank was satisfied with my response. You can also use ChatGPT to draft the email for better clarity and accuracy.
And try to avoid axis bank credit cards for all high value transactions for next few months.
I wish you good luck in resolving this issue and hope your card remains active. It is essential for banks to strike a balance between preventing misuse and maintaining customer satisfaction.
Axis Bank has sent out similar notifications in the past, and I am mentioning the URLs of both threads for reference.
Thread 1: Axis Bank Issuing Cancellation Notices for Using Personal Credit Cards for Business Expenses
Thread 2: Axis Bank Credit Card Cancellation Notice: Another Round Of Card Cancellation & Some Unknown Updates
Screenshot of email notification:
Many recipients of the notification are unaware of the merchant name Axis Bank mentioned in the email. This indicates that Axis Bank might have made a mistake in identifying genuine business spenders. While it is important for Axis Bank to prevent excessive business spends due to their high reward rates, it should not be problematic for someone who has spent 1L or 2L in 3 months. Several customers have reported receiving notices despite having only spent 2L in the last 3 months.
Received notice?
If you are facing the possibility of card cancellation, there are steps you can take to prevent it. Consider emailing Axis Bank with detailed proof that the transactions were personal and not related to business expenses. Explain everything in detail and request Axis Bank not to block your card. In the past, I have faced a similar situation, and Axis Bank was satisfied with my response. You can also use ChatGPT to draft the email for better clarity and accuracy.
And try to avoid axis bank credit cards for all high value transactions for next few months.
I wish you good luck in resolving this issue and hope your card remains active. It is essential for banks to strike a balance between preventing misuse and maintaining customer satisfaction.
