Revisions on Axis Bank Credit Card

[pankajkumar]

Can Someone Help me understand these changes?

 

[ShavirB]

They've basically reduced the Minimum Amount Due, so that customers pay less and they can charge higher penal interest when customers don't pay in full. This is a strategy to extract higher penalty charges

A lot of customers pay only the 'Minimum Amount Due' thinking that is what they owe to the Credit Card, this change is to trap such customers to pay high penalty charges