A Big Devaluation on the Axis ace card,
With effect from 15th June 2023,
There is a max cashback capping of Rs.500 on bill payments on Google Pay and transactions in Swiggy, Zomato and Ola per statement cycle.
2% base cashback is excluded and currently continues to have no cashback capping.
Also Cashback shall not be eligible on fuel spends, EMI transactions, purchases converted to EMI post facto, wallet loading transactions, cash advances, rental payment, purchase of gold/jewellery items, insurance premium payments, educational services, payment of outstanding balances, payment of card fees and other card charges.
So currently for people making bill payments of over Rs.10000 each month should consider the Tata Neu Infinity Card which currently gives the same 5% and has no capping as of today (06-May-2023).
Revised Terms PDF here
axis ace revised t&c.pdf (575.8 KB)