Axis Bank has withdrawn the 2% cashback offer on rent payments through the Axis Bank Ace Credit Card. The offer was valid until 14th March 2022.under_page_title -->
From 15th March 2022., Axis Bank stopped cashback(regardless of the transaction amount) on payments of Rent using this credit card.
Possible Reason for withdrawal of 2% Cashback
There could be multiple reasons for the withdrawal of the 2% cashback offer on rent payments through the Axis Bank Ace Credit Card.
Some of the possible reasons could be:
1) Exessive use of this Feature by the customers.
People have been using this feature excessively to get a higher cashback on rent payments. Such a use of a credit card feature has led to an increase in cashback allocated.
2) No actual use of this feature.
Some people might have been using this cashback feature even when they are not actively paying the rent. This is an inefficient use of a credit card’s benefit.
Here is the official notification from Axis Bank.