Terms & Conditions – Axis Bank Credit Card Cashback Proposition
Definitions: For the Axis Bank Credit Card, the following terms shall, unless the context otherwise admits, shall have the following meanings:
* Cashback shall mean money awarded in the customer’s credit card account under the cashback scheme.
* Preferred Merchants shall include certain merchants on which the cashback earnings shall be 4%. These merchants can change at the bank’s discretion.
Spends on Cashback
Mediaddy & Mediaddy entities* 5%
Preferred Merchants** 4%
All other merchants 1.5%
* Valid on the website as well as mobile application of Mediaddy.Com
* Fuel Spends.
* Cash Advances.
* EMI Transactions.
* Purchase of Gold Items.
* Wallet Loading Transactions.
* Payment of outstanding Balances.
* Purchase of Gift cards on Mediaddy.
* Purchases converted to EMI Post Facto.
* Payment of card fees and Other Card Charges.
* Mediaddy: Rs. 10,000 | Preferred Merchants: Rs. 5,000 | Other spends: Rs. 35,000
* Out of these “Other spends”, Rs. 10,000 was an EMI purchase.
* Thus, the total spends eligible for cashback would only be Rs. 10,000 + Rs. 5,000 + Rs. 35,000 – Rs. 10,000 (EMI transaction) = Rs. 40,000.
* The cashback for the billing cycle in example would be calculated as follows:
* Cashback earned for the purchases during the current billing cycle will be credited in the next billing cycle 3 days prior to the statement generation date i.e. if the statement date is 15th March, cashback earned in the Feb month cycle (16th Jan-15th Feb) will be credited on 12th March.
* Cashback earned will be computed based on spends during the statement period minus any returns or refunds during the same period.
* In case the purchase/ transaction is returned/ cancelled/ reversed post statement generation date, cashback toward such transactions will be debited on the date of such purchase/ transaction reversal.
Statement Period: 16th of a month to 15th of the next month.
* Purchase on Flipkart on 10th Jan - Rs 1000 - Dr.
* Cashback earned in the Jan cycle with statement date of 15th Jan - Rs 50.
* Cashback credited 3 days prior to next statement date i.e. on 12th Feb - Rs 50 - Cr.
- In case of conversion of a transaction to EMI at a later date, cashback earned on such transaction will be reversed during the same billing cycle as EMI conversion.
* The bank may temporarily prohibit any customer from earning cashback or using any features of the program.
* The terms and conditions mentioned in the document can be revised or terminated at any time without prior notice.
* The cashback shall not be applicable if the Card has been withdrawn or cancelled or is liable to be cancelled or the account of the Card member is a delinquent Account.
* Axis Bank’s computation of the Cashback shall be final, conclusive and binding on a Card member and will not be liable to be disputed or questioned.
* The terms contained in this document shall be in addition to and not in derogation of the Most Important Terms and Conditions document.
* The cashback proposition is made available at the pleasure of Axis Bank and Axis Bank expressly reserves the right at any time and with notice to Card members, to add to and/or alter, modify, change or vary all or any of these Terms and Conditions or to replace wholly or in part, the Cashback Scheme by another scheme, or to withdraw it altogether.
* Without prejudice to anything contained in the Terms and Conditions, all disputes, if any, arising out of or in connection with or as a result of the Rewards Scheme or otherwise relating hereto shall be subject to the exclusive jurisdiction of the competent courts / tribunals at Mumbai.