Axis Bank’s Decision

• Axis Bank suspended the redemption of reward points for some credit cardholders due to non-personal usage.
• The bank noticed users spending money on expenses that are not allowed, earning reward points unfairly.
• Business spends on personal credit cards are against terms & conditions, leading to selective suspension of rewards.

History of Blocking Cards

• Axis Bank keeps a close vigil on suspicious spending patterns, sending alerts to suspected commercial users.
• Reports of genuine spenders also receiving notices, causing concern among credit card users.
• Non-compliance with terms and conditions, like using cards for illegal activities or business transactions, can lead to cancellation.

What to Do If Your Rewards Are Suspended?

• If your rewards are suspended, submit invoices for goods and services paid through the card within 30 days.
• Use the weblink provided by the bank to submit proofs online.
• Contact your bank through phone banking if needed.

Keep Personal and Business Separate

• Mixing business and personal expenses on personal credit cards is not recommended.
• Use separate business credit cards optimized for business users to maximize rewards and benefits.
• Proper use of a business credit card helps build business credit and provides additional rewards.
• Some banks explicitly outline the separation in their terms and conditions.

Expert Opinions

• Tejas Ghongadi, Co-Founder of The Points Code, highlights unethical practices of earning rewards.
• Ankur Mittal, Co-Founder and CTO of Card Insider, praises Axis Bank’s step to maintain rewards program sustainability.
• Adhil Shetty, CEO of BankBazaar.com, emphasizes the importance of using business credit cards for business expenses.

Conclusion

Axis Bank’s decision to selectively suspend reward point redemption for non-personal usage is a commendable move to maintain the integrity of their rewards program. Users must adhere to the terms and conditions set by the bank and avoid using personal credit cards for business transactions. By doing so, genuine users can continue benefiting from the rewards offered by the bank.