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Devaluation SBI Cashback didn't give cashback on Magicpin and TataNeu Gift cards

In latest June bill for SBI cashback, didn't get cashback on gift card purchases on Magicpin and TataNeu. Both usual merchant names -

30 May 25 TATA DIGITAL PVT LTD MUMBAI IN
31 May 25 SAMAST TECHNOLOGIES PR GURGAON

I think earlier both these were giving cashback.


Confirmed MCC is 5947.
 
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Until last month it was giving. But now they seem to have removed the 5% banner. Unlike AGV and Flipkart GV which show cummulative 5% CB on using TNI card, Phonepay doesnt show any cashback banner. Will have to wait till month end to see if any cashback gets credited for the same.
yeah, its strange with 0 cb. Why would anyone buy it from Tata neu without any cb. I mean there should be some motivation for the customer, right?
 
yeah, its strange with 0 cb. Why would anyone buy it from Tata neu without any cb. I mean there should be some motivation for the customer, right?
True. I guess they have deliberately stopped giving cashback on Phonepe GV because some people were misusing it to do money rotation by sending it to merchant qr codes and snapay. Even with 2-3% processing charge they were getting positive return due to the 5% CB. Basically some people started exploiting the benefits too much and finally everyone has to pay the price for it. Hope they dont devalue the AGV or flipkart GV otherwise there wont be much value of TNI card. Already they have kept a tight limit of Rs.1k on AGV purchase per gift card. It is so tedious to purchase many AGVs for high value transactions due to this 1k limit.
 
True. I guess they have deliberately stopped giving cashback on Phonepe GV because some people were misusing it to do money rotation by sending it to merchant qr codes and snapay. Even with 2-3% processing charge they were getting positive return due to the 5% CB. Basically some people started exploiting the benefits too much and finally everyone has to pay the price for it. Hope they dont devalue the AGV or flipkart GV otherwise there wont be much value of TNI card. Already they have kept a tight limit of Rs.1k on AGV purchase per gift card. It is so tedious to purchase many AGVs for high value transactions due to this 1k limit.
yes, they couldnt have restricted phonepe gv in a similar way rather than completely removing the cashback
 
Tata neu Infinity card gives 5% cash back as neu coins on each and every gift card purchases irrespective of brand after the statement. But additional cash back (Tata neu promotional cash back which is being paid instantly) depends on brand. Their offer banner is not accurate, they didn't even tried to fix it.
Until last month it was giving. But now they seem to have removed the 5% banner. Unlike AGV and Flipkart GV which show cummulative 5% CB on using TNI card, Phonepay doesnt show any cashback banner. Will have to wait till month end to see if any cashback gets credited for the same.

yeah, its strange with 0 cb. Why would anyone buy it from Tata neu without any cb. I mean there should be some motivation for the customer, right?

True. I guess they have deliberately stopped giving cashback on Phonepe GV because some people were misusing it to do money rotation by sending it to merchant qr codes and snapay. Even with 2-3% processing charge they were getting positive return due to the 5% CB. Basically some people started exploiting the benefits too much and finally everyone has to pay the price for it. Hope they dont devalue the AGV or flipkart GV otherwise there wont be much value of TNI card. Already they have kept a tight limit of Rs.1k on AGV purchase per gift card. It is so tedious to purchase many AGVs for high value transactions due to this 1k limit.

yes, they couldnt have restricted phonepe gv in a similar way rather than completely removing the cashback

Where can I buy PhonePe vouchers using an SBI Cashback Card to get 5% cashback?
 

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I'm sorry, but how is that 4.9%? isnt that 5%-1.7% = 3.3%?
Ya u r right. My bad. It is 3.3%. If u purchase purchase Rs.1000 voucher u will be paying Rs.1017 to get Rs 50 CB and a GV worth Rs.1000. So next CB on Rs.1017 is 4.9% but when u factor in the extra Rs.17 then it actually comes to 3.3%. Looks like the good old days of Phone pay GV at 5% CB are gone.
 
Tata neu Infinity card gives 5% cash back as neu coins on each and every gift card purchases irrespective of brand after the statement. But additional cash back (Tata neu promotional cash back which is being paid instantly) depends on brand. Their offer banner is not accurate, they didn't even tried to fix it.
It is still hard to trust these people. Earlier they used to separately and clearly mention the 5% CB for TNI card for all gift cards: AGV, FLIPKART, PHONEPE and ZEPTO. But now they r showing merged CB with TNI card's 5% CB for all gift cards.Now 5% on AGV means u get 5% for using TNI only and no extra CB if u use any other card. Phonepe doesnt show even that 5% banner. I highly doubt why would they update the banner for all gift cards except for Phonepe. This could only mean that they have now stopped 5% on phonepe. The minimum value of phonepe GV is Rs.500. I dont want to purchase it for test purpose only to get no 5% CB finally in my statement. Since this is the first month since they changed the banners so the customer care themselves may not be aware of the new devaluation. Anyways if any of u here purchase phoenpe GV please let us know if u 5% CB in ur statement. I will have to wait till next monthend for my statement to end.
 
It is still hard to trust these people. Earlier they used to separately and clearly mention the 5% CB for TNI card for all gift cards: AGV, FLIPKART, PHONEPE and ZEPTO. But now they r showing merged CB with TNI card's 5% CB for all gift cards.Now 5% on AGV means u get 5% for using TNI only and no extra CB if u use any other card. Phonepe doesnt show even that 5% banner. I highly doubt why would they update the banner for all gift cards except for Phonepe. This could only mean that they have now stopped 5% on phonepe. The minimum value of phonepe GV is Rs.500. I dont want to purchase it for test purpose only to get no 5% CB finally in my statement. Since this is the first month since they changed the banners so the customer care themselves may not be aware of the new devaluation. Anyways if any of u here purchase phoenpe GV please let us know if u 5% CB in ur statement. I will have to wait till next monthend for my statement to end.
I am using SBI cash back card for Phonepe GV purchases, not from Tata neu.
This 5% Neu coins cash back will be given from bank side, so I don't think there is a restriction between brands as all gift card purchases will get gift card MCC only. Let us see if anyone get cash back.
 
I am using SBI cash back card for Phonepe GV purchases, not from Tata neu.
This 5% Neu coins cash back will be given from bank side, so I don't think there is a restriction between brands as all gift card purchases will get gift card MCC only. Let us see if anyone get cash back.
From where did you purchases the phonepe gift card?
 
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