Axis Indian Oil Card - Devaluation
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Axis Indian Oil Credit Card Devaluation
Serious one: The criteria for spend based annual fee waiver has been revised from eligible spends of Rs. 50,000 to Rs. 3,50,000 in a card anniversary year. Spends on rent, wallet loading, insurance, EMI, cash withdrawals and reversals will not be considered.
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Created by : Amit.Saha
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https://www.desidime.com/comments/permalink/9958327
I have already crossed 50K.
Do i still get charged Annual Fee ?
https://www.desidime.com/comments/permalink/9960025
Yes, you will be. The same happened with me last year when all of a sudden they increased the spend criteria for Flipkart CC from 2LC to 3.5LC and I had to cover additional 1.5LC in 2-3 months.
I would suggest you to get it closed before the annual renewal date since the min spend is now 400 for earning EDGE rewards, and now the transactions made at IOCL pumps using UPI on CC would also incur the fuel surcharge..not at all worth the headache.
I would suggest you to get it closed before the annual renewal date since the min spend is now 400 for earning EDGE rewards, and now the transactions made at IOCL pumps using UPI on CC would also incur the fuel surcharge..not at all worth the headache.
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https://www.desidime.com/comments/permalink/9958328
Unable to figure out what is the devaluation here, can someone point it? Is it only for fee reversal?
Earlier the maximum 4% rewards value we can earn is on 5000 spends per month. Now also it seems to be the case.
https://www.desidime.com/comments/permalink/9958710
yeah they did 3 things...
1. increased min txn value from 100 to 400 for that 20 points eligibility
2. fee reversal criteria changed from 50k to 3.5L
3. welcome benefit modified a bit... earlier its was 250 cashback directly, now 1250 edge points... devaluation here is that you can't get any good voucher for 1250 points as most good vouchers available are of bit higher value.. amazon/flipkart I think need min 10k edge points accumulated.. some others like uber, apollo etc too need 5k points. So they're indirectly forcing you to spend more if you want better gv.
But its kind of ironic how they won't give points on spends more than 5k per month but expect people to spend 3.5L (ie 29.2k per month) for fee waiver lol
1. increased min txn value from 100 to 400 for that 20 points eligibility
2. fee reversal criteria changed from 50k to 3.5L
3. welcome benefit modified a bit... earlier its was 250 cashback directly, now 1250 edge points... devaluation here is that you can't get any good voucher for 1250 points as most good vouchers available are of bit higher value.. amazon/flipkart I think need min 10k edge points accumulated.. some others like uber, apollo etc too need 5k points. So they're indirectly forcing you to spend more if you want better gv.
But its kind of ironic how they won't give points on spends more than 5k per month but expect people to spend 3.5L (ie 29.2k per month) for fee waiver lol
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https://www.desidime.com/comments/permalink/9958613
Check it out ->👇🏼
This is bound to happen
👆🏼
Who knows what future holds But for now credit card pandemic is gripping India
👳
https://www.desidime.com/comments/permalink/9959043
funny part is 50k to 3.5 lakh for waiver, who would spend 3.5lakh on fuel yearly , Axis expecting us to go into truck business
https://www.desidime.com/comments/permalink/9959051
Mine LTF so will it remain LTF?
https://www.desidime.com/comments/permalink/9959054
Yup. even mine is LTF.
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https://www.desidime.com/comments/permalink/9959074
Even fkaxis card other spends devalued from 1.5% to 1%.
https://www.desidime.com/comments/permalink/9960590
Even some High Variant Cards have 1.5L for Annual fee waiver. This is toooooooo much
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