The credit card landscape is evolving, and AU Bank has introduced key changes to the reward points policy of its ixigo AU Credit Card. These updates, effective from December 22, 2024, reflect the growing trend of reward devaluation in the banking sector. Here’s a breakdown of the changes.
1. No Reward Points on Foreign Transactions
-
What’s Changing?
While the card retains its 0% forex markup benefit, reward points will no longer be awarded for international spending. -
Effective Date: December 22, 2024.
2. No Reward Points on Select Categories
Several categories, including rent payments, education, government services, and BBPS transactions, will no longer earn reward points.
| Merchant Categories | Merchant Codes | Reward Points |
|---|---|---|
| Rent | 6513 | Nil |
| Education & Government | 8211, 8220, 8241, 8244, 8249, 8299, 9211, 9222, 9223… | Nil |
| BBPS | Not Applicable | Nil |
3. Reward Points Retained for Utilities, Telecom, and Insurance
Cardholders can still earn reward points on utility, telecom, and insurance payments, albeit with restrictions:
| Merchant Categories | Merchant Codes | Reward Points |
|---|---|---|
| Utilities & Telecom | 4812, 4814, 4899, 4900 | 1 Reward Point for every ₹100 spent |
| Insurance | 5960, 6300 | 1 Reward Point per ₹100 (capped at 100 points) |
Key Takeaways:
- These changes reflect the growing trend of reduced rewards on non-essential categories.
- While certain benefits remain, such as earning points on utilities and insurance, the exclusion of major categories like international spends and rent diminishes the card’s overall value.
For more details visit ixigo AU Credit Card