Wanted to collect this community’s thoughts on Axis Credit Card Fiasco

[User_e6af735a]

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User_e6af735a
PARTICIPANT
March 1, 2025 at 7:23 am

Hi Team,

Many of you might be aware of the current Axis Credit Card’s issue whuch is slowly taking the limelight.

Background: Axis Bank has a loophole where even if cancel the transaction, emi your reward points were not deducted [ indeed a huge blunder] and a lot of people have closed their cards as of now.

People made merry out of it and duped bank of lakhs of reward points [ per person ] as per an article, they’ve come to notice of people getting recovery notice upto 72 lakh.

Tf community reported they personally are aware of people during crores in collaboration with bank employees.

Question: Now, my curiosity is how legally eligible the bank is to recover that amount?
1. From those who’ve account closed.
2. Those who are having active account.

They’ve start rolling out emails for recovery so was curious to know if they have any ground or not.

My perspective: customers aren’t saint, they knew what they were doing and kept doing it ranging to lakhs. There’s a difference between getting benefit from system and abusing it.

Bank hold in their T&C’s that at any moment, they can do things without notice if they find something

Thanks

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