Devaluation Axis Vistara Credit Cards Huge Devaluation wef 3rd January 2024

[TechnoFino]

The New Year is almost around the corner, with just one month remaining in 2023, and we are almost ready to welcome 2024. However, the new year is not going to be very rewarding for Axis Vistara credit card holders. Axis announced some major changes in all three of their Vistara co-branded credit cards today.

Effective from January 3, 2024:

• Government services transactions will not be eligible for earning Club Vistara points and achieving milestone benefits.
• Utilities transactions will not be eligible for earning Club Vistara points and achieving milestone benefits.

So, the thing is now, Axis Vistara Credit Cards will not earn CV points on all spends under fuel, wallet, rent payment, government payment, and utility payment categories. [Government Payment & Utility Payment will be excluded after January 3, 2024].

I can understand why all banks are targeting the utility payment category, but this is totally unfair for common credit card users. Banks can implement some capping on the maximum reward points one customer can earn from the utility category rather than totally excluding it. The bank must not forget that utility is a very essential category; everyone spends some money on utility every month. I don't think this move is a good idea. However, it's the bank's decision, but you can also close your Axis Vistara cards and move to SBI Vistara or IDFC First Vistara Credit Card.

Official link to the devaluation PDF copy: https://www.axisbank.com/docs/defau...-vistara-credit-card-terms-and-conditions.pdf [PDF copy attached].

 

[Zacobite]

Finally its time.. Govt + Utilities is also stopping for CV points on Axis Vistara Cards.. Had to happen.. it was excluded in the first round... Screen attached

 

[Slayer]

Don't be sad that Utility and Government spends are excluded
Be happy that education is still there (not trying to jinx it)

 

[santoshraut]

Yes, just received message: Dear Customer, the terms and conditions on your Axis Bank Vistara Credit Card will be revised w.e.f. 03-01-24. For details, visit Axbk.in/AQU3JHXCb3H.

 

[D₹V]

Don't be sad that Utility and Government spends are excluded
Be happy that education is still there (not trying to jinx it)

People were using Axis Vistara to pay taxes & earn milestone benefits

 

[akshayhs]

Don't be sad that Utility and Government spends are excluded
Be happy that education is still there (not trying to jinx it)

Give it another month or two's time! 🤫

 

[ALOAK]

Ya just recived the email abt devaluation.

 

[Slayer]

Give it another month or two's time! 🤫

I pay 75k rent each month

 

[manas_rock]

what the hell. How will I pay 50 Lakh income tax every year? which credit card to use now?

 

[TheGuy]

Better they cap these kind of transactions. Sadly, that is not how banks operate.
Making reward rate just right is key. Only specific cards have done that- SC Ultimate, Axis Ace.

 

[Slayer]

Guys btw manas is actually serious about paying 50L in taxes

 

[TheGuy]

Guys btw manas is actually serious about paying 50L in taxes

use SBI Vistara and get it nerfed.
BoB Eterna?

 

[Slayer]

use SBI Vistara and get it nerfed.
BoB Eterna?

Hit or miss
I have it LTF and the most prominent use i have for it is BoB centric offers and occasional wallet load if PayTM gives good cashback on wallet loading (after i see the notification)

 

[TheGuy]

Hit or miss
I have it LTF and the most prominent use i have for it is BoB centric offers and occasional wallet load if PayTM gives good cashback on wallet loading (after i see the notification)

Good card to have LTF... It was one time offer only, right?

 

[Slayer]

Good card to have LTF... It was one time offer only, right?

I got it LTF accidentally for no specific reason

 

[rogerthat]

Looks like Axis is consolidating its reward earning categories across the portfolio.

Its basically broadly three different categories:

• Affluent cards (Select, Privilege, etc)
• Co-branded cards (Airtel, Flipkart, Samsung, etc)
• HNI cards (Magnus OG, Vistara, Reserve)

The exclusions are similar for these categories, right? Only Atlas has escaped as of now.

But can Atlas be included in the HNI category? I think it is a standalone category? It is already excluded from insurance spends which is not excluded for Magnus, Vistara and Reserve. For this reason it will be very unfair for Atlas to be devalued.

 

[TheGuy]

Looks like Axis is consolidating its reward earning categories across the portfolio.

Its basically broadly three different categories:

• Affluent cards (Select, Privilege, etc)
• Co-branded cards (Airtel, Flipkart, Samsung, etc)
• HNI cards (Magnus OG, Vistara, Reserve)

The exclusions are similar for these categories, right? Only Atlas has escaped as of now.

But can Atlas be included in the HNI category? I think it is a standalone category? It is already excluded from insurance spends which is not excluded for Magnus, Vistara and Reserve. For this reason it will be very unfair for Atlas to be devalued.

Here, there is no mention of beginner cards. Neo and Myzone etc. Reason being?

 

[D₹V]

I can understand why all banks are targeting the utility payment category, but this is totally unfair for common credit card users. Banks can implement some capping on the maximum reward points one customer can earn from the utility category rather than totally excluding it. The bank must not forget that utility is a very essential category; everyone spends some money on utility every month. I don't think this move is a good idea.

True.

This was needed to be pointed out

 

[V360]

Closed Vistara today - retention offer was 3000 CV points - declined the offer and they closed my card successfully

 

[sxchzy]

next in line is atlas for govt and utility