Axis Priority DC Redemption restricted to EDGE ...

Axis Priority DC Redemption restricted to EDGE points

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hey, just received a SMS from Axis Bank :

W.e.f. 1st Oct’19, 10% cashback on online spends of Axis Bank Priority Debit Card can be redeemed only for EDGE REWARD points. T&C apply.

This is SAD news. Now, will have to unnecessarily spend points on vouchers. Cash redemption option was best.

13 Comments  |  
4 Dimers
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I’ll convert it to a normal acc

11111
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SO Instead of 2500 INR we get 2500 Amz GV per quarter. Not bad.

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cm4444 wrote:

SO Instead of 2500 INR we get 2500 Amz GV per quarter. Not bad.

Yes, but notional value is reduced now.

Many people buy Amazon GC at discount, load money during promotions or use SmartBuy for 10x rewards so Amazon gift card redemption is kinda loss.

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arunrush680 wrote:

I’ll convert it to a normal acc

While the value is reduced, it will still come out as 7-8% cashback .. not too bad to keep the account..

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indiansoul wrote:

While the value is reduced, it will still come out as 7-8% cashback .. not too bad to keep the account..

Maintaining 2L MAB is a deal breaker.. Even if you keep this amount in FD, you will get around 15k interest, here you will get 10k amazon voucher and 7k interest.. So gain is only 2k az voucher that too on spending 1 lakh

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Rahil42 wrote:

Maintaining 2L MAB is a deal breaker.. Even if you keep this amount in FD, you will get around 15k interest, here you will get 10k amazon voucher and 7k interest.. So gain is only 2k az voucher that too on spending 1 lakh

Good analysis but you will also have to consider IT to be paid on the interest. That reduces return on FD to any where between 10k to 13.5k depending on tax bracket.

11111
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@indiansoul @A2Zdeals
I got the same notification that the cashback can only be redeemed as Edge points, but while I was trying to redeem the rewards for current quarter (Oct to Dec 2019), I’m able to see the option to get 2500/- in my account

https://imgur.com/a/a...lW

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cm4444 wrote:

@indiansoul @A2Zdeals
I got the same notification that the cashback can only be redeemed as Edge points, but while I was trying to redeem the rewards for current quarter (Oct to Dec 2019), I’m able to see the option to get 2500/- in my account

https://imgur.com/a/a...lW

Claim it & see if you’ll get cash, I haven’t spent this month as I spent a lot during Flipkart Sale.

11111
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arunrush680 wrote:

Claim it & see if you’ll get cash, I haven’t spent this month as I spent a lot during Flipkart Sale.

Claimed.

Great Choice
Your cash back request has been taken and 2,500.00 cash back will be credited your savings account in 7 Working days.
Keep using Your Priority Platinum Debit Card* for your Online purchases and
you can be eligible for rewards next quarter as well.

Will update if I get money in the account. I hope they credit either money or points quickly and I dont have to keep on writing mails for same.

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cm4444 wrote:

Claimed.

Great Choice
Your cash back request has been taken and 2,500.00 cash back will be credited your savings account in 7 Working days.
Keep using Your Priority Platinum Debit Card* for your Online purchases and
you can be eligible for rewards next quarter as well.

Will update if I get money in the account. I hope they credit either money or points quickly and I dont have to keep on writing mails for same.

Usually takes a few days.

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cm4444 wrote:

@indiansoul @A2Zdeals
I got the same notification that the cashback can only be redeemed as Edge points, but while I was trying to redeem the rewards for current quarter (Oct to Dec 2019), I’m able to see the option to get 2500/- in my account

https://imgur.com/a/a...lW

Thanks. Even though I have spend the required 25k, I am not seeing the option for redemption. I have logged a ticket with Axis Bank and escalate it. Hope it resolves soon.

BTW, did you spend on cred or somewhere else ?? All mine were on cred.

11111
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Approx 30k on cred, 20k on flipkart

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cm4444 wrote:

Approx 30k on cred, 20k on flipkart

This is very useful. plus1 plus1

So your cred spends are getting counted as you got option for redemption of 2500 and not just 2000.

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