Unlike the first round of devaluation for Axis Bank credit cards in September 2023, Axis Bank ATLAS Credit Card has gone through a feature update effective April 2024. The card was remarkably counted as one of the best airline travel credit cards that offered significant savings to travellers via miles as reward points; bonus miles worth Rs. 32,500 as welcome, milestone and annual benefits, travel concierge service, etc. However, the recent devaluation around  changes in reward structure, milestone and annual benefit and redemption across miles transfer program, has put Axis ATLAS’s cre ..read more

IDFC FIRST Bank has announced feature revision on most of its credit cards, which will be effective from 1st May 2024 onwards. In March, the bank had already made some changes to the fees and charges applicable on its cards. And now, the rewards program, exclusions and other terms and conditions have been revised, thus changing the overall value potential of IDFC FIRST Credit Cards. Some of the common revisions that have been made across most of the credit cards are as follows: Changes in the rewards program, including rewards earning rate and monthly spend threshold for 10X reward earning ..read more

In September 2023, Axis Bank made significant changes to its super premium card- Axis Reserve, including revisions in the air miles transfer program and annual fee waiver condition. Again, in April 2024, Axis Bank has announced another round of devaluation, removing renewal benefits and airport transfers, affecting the overall value of Axis Reserve. Already, after the devaluation in September, the premium status of this card was at risk, and now another round of devaluation could potentially affect its popularity in the market. So, let’s see how these changes impact the overall value of this ..read more

EPFO has made amendments to its functioning related to PF account transfers. Starting April 1st 2024, EPFO will automatically transfer existing PF accounts of member employees to new accounts whenever they switch jobs. Earlier, all members had to place a fresh request for the PF account transfer once they changed jobs. There will be no modification for employees who won’t change jobs and their PF account will continue receiving funds as usual. Decoding the Functioning of an EPF Account When an individual joins the formal workforce, they are assigned a UAN (Universal Account Number) which is a ..read more

Axis Bank has announced major devaluation across some of its most popular credit cards including Axis Magnus, Axis Atlas, Axis Ace, Flipkart Axis Card, Axis Vistara Infinite, and Axis Privilege. Some common changes that can be seen are: Spend-linked domestic lounge access New exclusions added to the rewards program Removal of concierge and meet and greet services Lowered base rate on entry-level cards The issuer has made changes  to the extensive list of Airline and Hotel Partners that stood as their major USP, especially on premium and travel cards. While there is no big revision on ..read more

While instances of online payment fraud are on the rise, one might think that withdrawing cash from an ATM would be a safer alternative. But think again: this may not hold true anymore. Over time, there has been a rise in incidents of ATM fraud. ATMs have become the go-to option for quick cash withdrawals as they are available everywhere, from shopping malls to offices and airports. However, this is what makes these cards susceptible to fraudulent activities, particularly through card cloning. ATM fraud basically means gaining illegal access to someone’s ATM card and PIN to conduct unauthori ..read more

If you own a debit or a credit card, you must have used it at an ATM or a POS. But are you aware that regular cash withdrawal and purchase transactions can pave way for a credit card fraud, called skimming? Worry not and read on to find out how to prevent it and save your card from fraud transactions. With the advancement of financial technology, there is a parallel incline in the fraudsters ways to dupe and con people. Among many prevalent finance thefts, credit card skimming frauds have been very common recently. This fraud involves stealing an individual’s card information via an ATM or a ..read more

In today’s digital age, the popularity of paperless payment options is on the rise. Most people prefer the quick and hassle-free experience of the payments done via credit or debit cards, net banking and UPI. However, this convenience often comes hand in hand with certain risks of frauds and scams. One such risk is the threat of phishing attacks, which can have damaging consequences, leading to financial loss, identity theft and compromised security. So, it becomes imperative that the cardholders stay vigilant to protect themselves from such scams. To be prepared to deal with such situations ..read more

UPI (Unified Payments Interface) has transformed the digital landscape. This is now one of the most popular modes of payment. As digital payments increase, there is a higher risk of falling prey to scammers and fraudsters. We must take necessary precautions to keep our UPI payments safe and secure. UPI fraud refers to the fraudulent activities that take place within the UPI’s ecosystem. Fraudsters use multiple tactics to deceive individuals into committing such frauds. Such scammers often trick people into revealing their UPI PIN or personal information that enables them to access the bank acc ..read more

Micro, Small, and medium Enterprises (MSMEs) play an important role in economic growth and innovation. With the increasing number of MSMEs, card issuers have started offering credit cards specifically tailored for MSMEs. It is important for these enterprises to fulfill their credit requirements by making reasonable choices, like selecting appropriate credit cards. These cards allow individuals to meet MSMEs instant credit needs and help them seek financial efficiency and growth. Here are some of the top credit card schemes for MSMEs that can help them achieve and maintain financial stability ..read more