Axis Bank Credit Card: Alert for Axis Bank Credit Card users. Axis Bank has changed the credit card rules. The new rules will come into effect from August 12.
Credit Card Rules change: Unexpected shock for Flipkart Axis Bank Credit Card users. Axis Bank has reduced the benefits of this credit card. The new rules will come into effect from August 12. Among the credit cards offered by Axis Bank, Flipkart Axis Bank Credit Card has become very popular.
Flipkart users are more interested in taking this credit card as there are various benefits for shopping on Flipkart using this card. Still there is good demand for Flipkart Axis Bank Credit Card. But recently Axis Bank has announced that it is reducing the benefits of this credit card. The new rules came into effect from August 12.
It is known that 5 percent cashback is available on Flipkart and Myntra transactions with Flipkart Axis Bank Credit Card. There is no limit to this cashback. But if we look at Axis Bank’s revised rules, there are changes in the cashback available on flight and hotel payments on Flipkart, Myntra. Axis Bank has removed government services from cashback eligibility.
Only 1.5 percent unlimited cashback on flight, hotel payments, shopping on Myntra on Flipkart. Annual fee exemption is available only if annual payments exceed Rs.3,50,000. Rent transactions, valid load transactions are not treated as payments. So they do not get annual fee exemption. If you make payments for government services, you will not get cashback.
Axis Bank has announced that cashback will not be available on fuel expenses, purchase of gift cards on Flipkart, Myntra, EMI transactions, wallet loading transactions, cash advances, rent payments, jewelry purchases, insurance services, utilities, educational services, card fee payment etc.
Flipkart Axis Bank Credit Card has an annual fee of Rs.500. But till now those who spend Rs.2 lakhs per year get annual fee exemption. But now the increase in this limit to Rs.3,50,000 and removal of some payments is a big shock for the card users.
Axis Bank was first reported to have changed the terms and conditions of all 5 credit cards. But later Axis Bank clarified that Flipkart has only changed the terms of Axis Bank Credit Card.
