Not for upgrades, only for new cards - that's what they told me later (and believe that's the experience of people here, a few pages back).
Edit: INR 1500 doesn't get you far (as far as metros are concerned). Only CCU-BOM and BLR-BOM so far I can see...
Sorry, now I remember correctly. for JACC members the offer was 1k fee, 10,000 PM on first txn. so there was no voucher in the game anyways for them. However, looks like some folks got an offer with vouchers included like yourself.
And yes, I agree 1500 is not going far. BOM-DEL is my primary segment, and its useless there because base fare even on an LCC is 1520. grrr.