Most of you people who regularly travel to foreign countries for vacations or business trips must be wary of the forex markup fees and currency conversion charges that are applicable whenever you swipe your credit card at a foreign merchant outlet. Moreover, the Indian Government recently announced that 20% TCS would be applicable on international credit card spends above Rs. 7 Lakhs from July onwards.
Thus, individuals have to pay a premium for using their credit cards abroad on foreign currency spends. Axis Bank recently rolled out the Visa Cashback Campaign where cardholders can get exclusive cashback of Rs. 2023 on reaching the target spend amount of Rs. 1,70,000 in foreign currency with their Axis Bank credit cards during international travel.
The offer is applicable only to Axis Bank Visa cardholders who receive direct communication from the bank regarding the offer. Read on to know more about the offer, its details, and its terms and conditions.
Visa Cashback Campaign – Offer Details
The Visa Cashback Campaign on Axis Bank Credit Cards is valid from 18th May 2023 to 18th August 2023. The offer is valid only on point-of-sale transactions made during foreign travel at international merchant outlets. Also, the offer is applicable only to cardholders who receive an official communication from Axis Bank.
During the Offer Period, qualifying cardholders will receive the following privileges –
- Cardholders must spend a total amount of Rs. 1,70,000 or above in foreign currency using their Axis Bank Visa credit card on eligible international transactions. Only point-of-sale transactions in foreign currency outside of India are considered eligible for the offer and this does not include cash transactions. Those who successfully spend the target amount will be termed Qualifying Promotion Cardholders and will be eligible to receive the Rs. 2023 cashback.
- Only the first 2400 Qualifying Promotion Cardholders will receive the one-time cashback of Rs. 2023 on their international credit card spends.
Visa Cashback Campaign – Terms and Conditions
Here are the important terms and conditions associated to the Visa Cashback Campaign –
- Only the customers who receive an official communication from Axis Bank via SMS, Email, or Mobile App notification will be eligible for the offer.
- The offer period is from 18th May 2023 to 18th August 2023.
- The cashback offer is available only on foreign currency spends made on point-of-sale terminals outside of India. Cash transactions are not eligible for cashback.
- Only the first 2400 Qualifying Promotion Cardholders will receive the one-time cashback of Rs. 2023.
- All transactions must be made using the Promotion Card, that is, eligible Axis Bank Visa credit cards.
- ATM cash withdrawals, E-Commerce transactions, etc. made with the Promotion Cards are not eligible for the cashback offer.
- Incomplete, rejected, invalid, fraudulent, and disputed transactions are not eligible for the offer.
- Transactions done with both the Primary as well as Add-On cards are eligible but the cashback is credited just once on the Primary credit card as mentioned in the offer communication.
- The cashback is credited to the eligible card account within 90 days of the offer period expiry.
- The offer is not applicable on Corporate credit cards and is valid only for existing Axis Bank Visa credit cardholders.
The Visa Cashback Campaign on Axis Bank credit cards is a great offer for individuals who regularly travel abroad and use their credit card for foreign currency spends. During the offer period, cardholders can spend Rs. 1,70,000 or above in foreign currency at point-of-sale terminals outside India and receive a cashback of Rs. 2023.
The offer is valid from 18th May to 18th August 2023 and is perfect for tourists and businessmen who travel abroad frequently. The forex markup and currency conversion charges are high on foreign currency spends and the cashback will help individuals get some of their money back.
Let us know your thoughts regarding the Visa Cashback Campaign on Axis Bank credit cards and whether you plan on claiming this exclusive cashback offer.