Axis Bank goes after “non-personal spends” on Credit Cards; blocks rewards accounts

After the “leak” a couple of weeks ago where Axis Bank was supposedly going to modify the terms for various credit cards on their offering (which was eventually not true), Axis Bank has taken some stiff action against the “bad actors” in the system.

Axis Bank goes after manufactured spending on their credit cards.

Axis Bank has been generous with the rewards on their credit cards, especially ramping it up over the past one and a half years and making market-leading products such as the Magnus Credit Card. However, with great power comes great responsibility, and Axis Bank is now out to weed out the bad actors who might have been gaming the system.

Per various reports since last night, Axis Bank has locked out many users from their Rewards Accounts. When logging into their EDGE Rewards account, these users will see a warning message.

These suspensions have also coincided with people receiving emails from Axis Bank asking them about transactions made with certain vendors/payment gateways made during March-June 2023. The email looks as follows.

a screenshot of a black and white email

It seems transactions with the following merchants have been singled out:

  • Instant Mudra Technology
  • BharatNXT
  • Accupayd Tech Pvt Ltd
  • Paypermint Pvt Ltd (dba Payabhi)
  • Big Store (dba
  • Facebook SI
  • Brainum Payments Pvt Ltd (dba Payagent)
  • Spay Tech Pvt Ltd
  • Vasi Gateways Pvt Ltd (dba
  • Slenpay Pvt Ltd (dba
  • Electronic Cash and Payment Solutions (s) Pte. Ltd (dba
  • Speckle Internet Solutions (dba

If you look at these closely, many of these services can be classified into one of three sections: Payday loans, bill payments for commercial enterprises or cash transfers against credit card swipes. Those who might have put their credit card for their FB Ads account may have also gotten the notices if doing large spends.

What Axis Bank wants to reiterate for customers is that their cards are meant for their personal spending, and if they have spent on their cards for commercial expenses or manufactured spending to earn points, they will go after these customers. Axis Bank has given a 30-day notice period to these customers to collect proof that their spending was personal, not for “non-personal spend”, and send this back to the Bank to get their points unlocked again.


Axis Bank has cracked down big time on spending, which is not “personal spend”. It has blocked many customers’ accounts from using the points generated until they can satisfy the bank about their spending and their intentions. Said customers have 30 days to react to the notice from the bank before their accounts are blocked for good.

What do you make of the move from Axis Bank to go after the bad actors? Have you been caught up in this clean-up attempt by the bank?

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About Ajay

Ajay Awtaney is the Founder and Editor of Live From A Lounge (LFAL), a pioneering digital platform renowned for publishing news and views about aviation, hotels, passenger experience, loyalty programs, travel trends and frequent travel tips for the Global Indian. He is considered the Indian authority on business travel, luxury travel, frequent flyer miles, loyalty credit cards and travel for Indians around the globe. Ajay is a frequent contributor and commentator on the media as well, including ET Now, BBC, CNBC TV18, NDTV, Conde Nast Traveller and many other outlets.

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  1. Someone from India posted on an American travel blog that with the cards from Axis, the points and miles opportunities in India were just as good or better than what was in the US. The post was met with laughter and derision from the Americans.
    Now reading about the terrible changes being implemented by Axis, and the bank challenging how customers are using their credit cards (having to prove that their expenses were only personal in nature) makes the American points earning opportunities look vastly superior than the ones in India.

  2. My account was blocked – I got caught in the crossfire as I DID use Bharatnxt, but only for genuine personal expenses. Amount not too high as well – 6.3 lakhs in the month of April. Mainly used bharatnxt as I was travelling and had to make urgent payments and wanted to avoid the 30 minute and 24 hour waiting periods for netbanking (HDFC).
    I could not identify each transaction, but I have sent them bills for a few of the transactions that I had available off hand. Let’s see what they do!

  3. Axis Bank devalued Magnus…
    “You can transfer EDGE REWARD Points to 19+ domestic and international partners* across airlines and hotels as per the revised transfer ratio of 5:2 (5 EDGE REWARD Points = 2 Partner Point/Mile).”

    Many other changes too..

  4. Magnus new terms and conditions are out.


    Ajay, Please put up the main highlights.

    I have not received 25K reward points for April milestone spend, has anyone received?

  5. Good move, but I equate it to demolition of illegal structures by the same set of authorities who first approved. Why not proactively put enough checks and balances versus reacting to the situation. Hope this leads to Axis not devaluing the card.

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