Magnus commercial transaction

What was your transaction by the way? After increasing annual fees to 12500 and withdrawing equivalent Tatacliq voucher, the card is not worth keeping now.

They may have already met their target of onboarding new members. Now they are consolidating the T&C to manage benefits vis a vis expenses

BharatNxt for just 1 lakh

btw did anyone get the definition of commercial transaction as per axis bank ??

gautam2usa226 wrote:

BharatNxt for just 1 lakh

Bharatnxt is created and recognised as a platform for business transactions, so Axis Bank may have a point there 

aam_aadmi wrote:

Bharatnxt is created and recognised as a platform for business transactions, so Axis Bank may have a point there 

Yeah… but on what basis Axis bank classifies any transaction as commercial transaction ??

gautam2usa226 wrote:

BharatNxt for just 1 lakh

Just😳

gautam2usa226 wrote:

Yeah… but on what basis Axis bank classifies any transaction as commercial transaction ??

They can identify merchants which are classified as B2B as per merchant category codes (MCC) and restrict reward points on these merchants. It's well known that such Apps allow credit card transfer to bank on nominal charges. Axis Bank can block this merchant code category or manually block such merchants 

aam_aadmi wrote:

They can identify merchants which are classified as B2B as per merchant category codes (MCC) and restrict reward points on these merchants. It's well known that such Apps allow credit card transfer to bank on nominal charges. Axis Bank can block this merchant code category or manually block such merchants 

Still… what type of transactions are classified as commercial in nature and what kind of them are considered as personal ??