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Axis Bank Compensation Issue: Impact of 'Write-Off' on Credit History – Need Expert Advice!

Dhm66

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Hello everyone, I filed an RBI complaint related to uncredited edge reward points in MAY 24, and later Axis bank rewarded those points in this month plus RBI ombudsman also ordered them for a compensation of INR 2000, (they took 4 months to realise this issue so RBI regional AGM ordered them to compensate)
Now coming to the main issue- on 27th Nov got a call from Axis team, the executive told me about the RBI ombudsman order, and further to credit INR 2000 in my Credit card account, I asked him when it will gonna show in cc statement, he answered by 29th Nov.
He also added this INR 2000 will be adjusted against the current outstanding amount.
I said Ok proceed, I checked Today and found an entry in my cc statement of WRITE OFF INR 2000 (SS attached).
I contacted immediately to Axis Bank customer care, call transferred to senior team and told them everything, they raised a Service request but I'm afraid since Axis bank reports on the last day of month to all credit bureaus.
Is this a normal thing to mention a compensation as Write-off?
Will there any future consequences due to this?
My Credit bureau history is neat and clean with 100% On time payment record.

I need your expert opinions in this regard, What should be done? I have read here that many people got compensation from their respective banks, Is there anyone who got compensation credited in his/her credit card Using WRITE-OFF term?
 

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Hello everyone, I filed an RBI complaint related to uncredited edge reward points in MAY 24, and later Axis bank rewarded those points in this month plus RBI ombudsman also ordered them for a compensation of INR 2000, (they took 4 months to realise this issue so RBI regional AGM ordered them to compensate)
Now coming to the main issue- on 27th Nov got a call from Axis team, the executive told me about the RBI ombudsman order, and further to credit INR 2000 in my Credit card account, I asked him when it will gonna show in cc statement, he answered by 29th Nov.
He also added this INR 2000 will be adjusted against the current outstanding amount.
I said Ok proceed, I checked Today and found an entry in my cc statement of WRITE OFF INR 2000 (SS attached).
I contacted immediately to Axis Bank customer care, call transferred to senior team and told them everything, they raised a Service request but I'm afraid since Axis bank reports on the last day of month to all credit bureaus.
Is this a normal thing to mention a compensation as Write-off?
Will there any future consequences due to this?
My Credit bureau history is neat and clean with 100% On time payment record.

I need your expert opinions in this regard, What should be done? I have read here that many people got compensation from their respective banks, Is there anyone who got compensation credited in his/her credit card Using WRITE-OFF term?
Screenshot_20241130-145014.webp

Aaaj ki ji groww ki case study padh li hoti

Khair it's not normal you have to gain it as compensation not a write off!
 
View attachment 76047

Aaaj ki ji groww ki case study padh li hoti

Khair it's not normal you have to gain it as compensation not a write off!
I'm aware of this write off thing but not aware that when someone gets compensation tab kya mention karte hain, and yes it's not normal, just had word with regional RBI AGM, He also confirmed there must be an entry of compensation..If bank did this by mistake then they have to correct it on priority basis. Such a weird thing, never heard of such crap where Compensation becomes Write Off
 
I'm aware of this write off thing but not aware that when someone gets compensation tab kya mention karte hain, and yes it's not normal, just had word with regional RBI AGM, He also confirmed there must be an entry of compensation..If bank did this by mistake then they have to correct it on priority basis. Such a weird thing, never heard of such crap where Compensation becomes Write Off
h m m m m
 
Hello everyone, I filed an RBI complaint related to uncredited edge reward points in MAY 24, and later Axis bank rewarded those points in this month plus RBI ombudsman also ordered them for a compensation of INR 2000, (they took 4 months to realise this issue so RBI regional AGM ordered them to compensate)
Now coming to the main issue- on 27th Nov got a call from Axis team, the executive told me about the RBI ombudsman order, and further to credit INR 2000 in my Credit card account, I asked him when it will gonna show in cc statement, he answered by 29th Nov.
He also added this INR 2000 will be adjusted against the current outstanding amount.
I said Ok proceed, I checked Today and found an entry in my cc statement of WRITE OFF INR 2000 (SS attached).
I contacted immediately to Axis Bank customer care, call transferred to senior team and told them everything, they raised a Service request but I'm afraid since Axis bank reports on the last day of month to all credit bureaus.
Is this a normal thing to mention a compensation as Write-off?
Will there any future consequences due to this?
My Credit bureau history is neat and clean with 100% On time payment record.

I need your expert opinions in this regard, What should be done? I have read here that many people got compensation from their respective banks, Is there anyone who got compensation credited in his/her credit card Using WRITE-OFF term?
@CardCraftsman
@CCFan12
@Enthusiast
@sourpai
@Parvesh Goyal
@TheMentalist
@hs23new
@Sahilhenzy
@Survivor35
@paresh22
@rockking1994
@insight
@drsel
@Chaitanya-a
@Dharm
@MangoRush
@D₹V
@VISHESH_BANSAL
@chasni
@dino
@AritraSaha
@0xfallup
@seekndestroy99
@dino
@kshitij_0
@vinrey287
@tryabp
@sm9811911
@Harry1
@Rohan
@rockyBalboa
@imdjay
@sheru
@gamersgzb
@Pravnz
@shutapdiya
@shrewdoc
@manishtaneja90
@starstruck
@Oscar
@James
@Arun Pratheep
@Shubham Yadav
@CP24
@credit_debit
@kushhh
@fageriaji
@iAmPm
@Piyush_Jaiswal
@sxchzy
@CyberPsych
@Deepak_Shetty
@jimmypappachan
@S.S.
@xxScriptzxx
@BeingIncog
@plastikman
@lhgeek
@knight
@Akashn
@RupayMan
@Rkr
@ChurningNoob
@varunsridharan
@WandereR
@abhinav_
@D7162
@chenrichy
@iNokia
@prc1990
@EINSTEIN
@ADITYA1904
@TheTrickySid
@Tejo
@Dexter
@Rocky Bhai
@ItsAnilSingh
@4uziaul
@007
@nitrogenSingh
@Rahul Gupta
@NOOBY
@Pavan
@ARV
@Predator
@CC-Muncher
@WhoU
@RewardsAlert
@pprakash11
@Copycat
@CardSeeker
@rp0703
@Strange
@Kamal
@vaibhav111
@Dr. Drake
@Rohith_Kumar_Sp
@Walter White
@jack333
@hks789
@Shrinit Padwal
@gurubhai
@ashwink
@bugmenot
@#aniket
@varun__goel_
@Vasuki
@Abhishek012
@SSV
@tanvi
@Anil_Singh
@the_dark_knight
@pinki
@its_karan
@doraemon
@AlphaCAT
@𝙇.𝙆. 𝐓𝐢𝕨𝐚𝐫𝚒
@SSV
@pinki
@Anil_Singh
@s1t2y3a3m6
@techt
@NShah
@TechnoFino

I didn't get any response for this issue so I'm tagging y'all, Please provide your valuable advice.. I'm really afraid and don't want my Credit profile get affected due to this ontrude discrepancy.
Please forgive If I did anything wrong by tagging y'all here.
 
I'm really afraid and don't want my Credit profile get affected due to this ontrude discrepancy.
Please forgive If I did anything wrong by tagging y'all here.
First of all why would you agree to get it as statement credit .
Should have taken in bank account

Anyways if they mess up with reporting you will have another issue to get more compensation probably 10x 💀
 
Hello everyone, I filed an RBI complaint related to uncredited edge reward points in MAY 24, and later Axis bank rewarded those points in this month plus RBI ombudsman also ordered them for a compensation of INR 2000, (they took 4 months to realise this issue so RBI regional AGM ordered them to compensate)
Now coming to the main issue- on 27th Nov got a call from Axis team, the executive told me about the RBI ombudsman order, and further to credit INR 2000 in my Credit card account, I asked him when it will gonna show in cc statement, he answered by 29th Nov.
He also added this INR 2000 will be adjusted against the current outstanding amount.
I said Ok proceed, I checked Today and found an entry in my cc statement of WRITE OFF INR 2000 (SS attached).
I contacted immediately to Axis Bank customer care, call transferred to senior team and told them everything, they raised a Service request but I'm afraid since Axis bank reports on the last day of month to all credit bureaus.
Is this a normal thing to mention a compensation as Write-off?
Will there any future consequences due to this?
My Credit bureau history is neat and clean with 100% On time payment record.

I need your expert opinions in this regard, What should be done? I have read here that many people got compensation from their respective banks, Is there anyone who got compensation credited in his/her credit card Using WRITE-OFF term?
Just an Axis 🪓 thing! 🤣
First of all why would you agree to get it as statement credit .
Should have taken in bank account

Anyways if they mess up with reporting you will have another issue to get more compensation probably 10x 💀
Same reply! 🙂

You have right to make an another complaint against it then, even you had talked with RBI's AGM, regarding it, hope you have call recording.
 
@CardCraftsman
@CCFan12
@Enthusiast
@sourpai
@Parvesh Goyal
@TheMentalist
@hs23new
@Sahilhenzy
@Survivor35
@paresh22
@rockking1994
@insight
@drsel
@Chaitanya-a
@Dharm
@MangoRush
@D₹V
@VISHESH_BANSAL
@chasni
@dino
@AritraSaha
@0xfallup
@seekndestroy99
@dino
@kshitij_0
@vinrey287
@tryabp
@sm9811911
@Harry1
@Rohan
@rockyBalboa
@imdjay
@sheru
@gamersgzb
@Pravnz
@shutapdiya
@shrewdoc
@manishtaneja90
@starstruck
@Oscar
@James
@Arun Pratheep
@Shubham Yadav
@CP24
@credit_debit
@kushhh
@fageriaji
@iAmPm
@Piyush_Jaiswal
@sxchzy
@CyberPsych
@Deepak_Shetty
@jimmypappachan
@S.S.
@xxScriptzxx
@BeingIncog
@plastikman
@lhgeek
@knight
@Akashn
@RupayMan
@Rkr
@ChurningNoob
@varunsridharan
@WandereR
@abhinav_
@D7162
@chenrichy
@iNokia
@prc1990
@EINSTEIN
@ADITYA1904
@TheTrickySid
@Tejo
@Dexter
@Rocky Bhai
@ItsAnilSingh
@4uziaul
@007
@nitrogenSingh
@Rahul Gupta
@NOOBY
@Pavan
@ARV
@Predator
@CC-Muncher
@WhoU
@RewardsAlert
@pprakash11
@Copycat
@CardSeeker
@rp0703
@Strange
@Kamal
@vaibhav111
@Dr. Drake
@Rohith_Kumar_Sp
@Walter White
@jack333
@hks789
@Shrinit Padwal
@gurubhai
@ashwink
@bugmenot
@#aniket
@varun__goel_
@Vasuki
@Abhishek012
@SSV
@tanvi
@Anil_Singh
@the_dark_knight
@pinki
@its_karan
@doraemon
@AlphaCAT
@𝙇.𝙆. 𝐓𝐢𝕨𝐚𝐫𝚒
@SSV
@pinki
@Anil_Singh
@s1t2y3a3m6
@techt
@NShah
@TechnoFino

I didn't get any response for this issue so I'm tagging y'all, Please provide your valuable advice.. I'm really afraid and don't want my Credit profile get affected due to this ontrude discrepancy.
Please forgive If I did anything wrong by tagging y'all here.
I don't think it has anything to do with ur cibil. For cibil, they have to first report a late payment and then show dues and then it will be settled. Write off in statement is probably just a text for their internal accounting.

No experience though, so will have to wait and see.
 
First of all why would you agree to get it as statement credit .
Should have taken in bank account

Anyways if they mess up with reporting you will have another issue to get more compensation probably 10x 💀
I never thought about this write off thing, that executive asked me about this, I said ok.. got lesson, next time only ac transfer/Upi. Yeah ofcourse there will be more compensation but I don't want to ruin my credit profile. Even Mr AGM (Rbi ombudsman) told me If Bank doesn't clear it's stance then I have the option to claim compensation up to 20L.(Credit reputation affected point)
 
Just an Axis 🪓 thing! 🤣

Same reply! 🙂

You have right to make an another complaint against it then, even you had talked with RBI's AGM, regarding it, hope you have call recording.
yes I do, each and every related call recording is available and same sent to Mr AGM's email id, with above-mentioned screenshots.
 
I never thought about this write off thing, that executive asked me about this, I said ok.. got lesson, next time only ac transfer/Upi. Yeah ofcourse there will be more compensation but I don't want to ruin my credit profile. Even Mr AGM (Rbi ombudsman) told me If Bank doesn't clear it's stance then I have the option to claim compensation up to 20L.(Credit reputation affected point)
Bank will do most likely NEFT only.
UPI not possible! 🙂

Also, you won't be compensated 1 lac leave 20l, besides, but yes your credit report will get credited and some compensation.

Then BO didn't pass the order to do credit in bank account. Or why AGM/BO didn't ask bank to rectify the same, after your call?
 
I don't think it has anything to do with ur cibil. For cibil, they have to first report a late payment and then show dues and then it will be settled. Write off in statement is probably just a text for their internal accounting.

No experience though, so will have to wait and see.
If this internal accounting reason is there then everything is sorted but even senior customer care team member had no clue about this thing, he never experienced such kind of query so he raised a Service request. 🤞
 
Bank will do most likely NEFT only.
UPI not possible! 🙂

Also, you won't be compensated 1 lac leave 20l, besides, but yes your credit report will get credited and some compensation.

Then BO didn't pass the order to do credit in bank account. Or why AGM/BO didn't ask bank to rectify the same, after your call?
Mr AGM told me that he will talk with NO on Monday and update me. He's very cooperative since the beginning of this complaint, and even told me that Axis Bank got many RBI complaints nowadays, they are on RBI's radar.
 
but I don't want to ruin my credit profile. Even Mr AGM (Rbi ombudsman) told me If Bank doesn't clear it's stance then I have the option to claim compensation up to 20L.(Credit reputation affected
🤣🤣
If something is reported wrongly it can be
Corrected anyday by the bank
 
Mr AGM told me that he will talk with NO on Monday and update me. He's very cooperative since the beginning of this complaint, and even told me that Axis Bank got many RBI complaints nowadays, they are on RBI's radar.
Which region bro?
 
Ye toh obvious hai hoga but ye rectification mein time & effort lagta hai na...

Uss time kuch apply wagerah nahi kar payega, high chances of rejection!
Assumption that I m telling to wait for doom
Well 30th ended & they reported
He got credited in credit card statement

U can't tell them to take money out from cc nor reverse it
So only thing is wait and see
Meanwhile what can you do
Tell them to rectify what's not been done yet
 
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