| IndianOil Axis Bank Credit Card Rating |
| Reward Points ★★★ Fuel Benefits ★★★ Annual Fee ★★★ Additional Benefits ★★ |
| Overall Rating ★★★★ |
Axis Bank in collaboration with IndianOil has launched a fuel credit card i.e. IndianOil Axis Bank Credit Card. You can get up to 4% value back on your fuel purchases at IndianOil through this card. You can also avail 1% fuel surcharge waiver. Apart from fuel, you can avail exciting offers and benefits on other categories as well such as entertainment, dining, etc. Keep reading to know more about this credit card in detail.
Key Highlights of IndianOil Axis Bank Credit Card |
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| Card Type | Entry-level |
| Best Suited for | Fuel |
| Joining Fee | Rs. 500 |
| Annual Fee | Rs. 500 (Waived off on spending Rs. 50,000 in a year) |
| Welcome Benefits | 100% cashback (Up to Rs. 250) on your fuel transactions in the first 30 days of card issuance |
| Best Feature | 4% value back on your fuel spends at IndianOil outlets |
| Paisabazaar’s Rating | ★★★ (3/5) |
Must Read: Top Fuel Credit Cards in India 2022
Welcome Benefit- Avail 100% Cashback within 30 days
You can earn cashback up to Rs.250 on all fuel transactions performed on the credit card within the first 30 days of card issuance. Take a look at the table below for better understanding-
| Parameters | Example 1 | Example 2 | Example 3 |
| Amount Spent | Rs. 100 Rs. 150 |
Rs. 100 Rs. 300 |
Rs. 100 Rs. 100 Rs. 100(post 30 days of card issuance) |
| Total Amount Spent | Rs. 250 | Rs. 400 | Rs. 300 |
| Cashback Received | Rs. 250 | Rs. 250 | Rs.250 |
The welcome benefit offered by this card is pretty decent. However, there are a few conditions that must be kept in mind that you can avail this cashback of Rs. 250 only once and the transactions performed within 30 days of the card issuance are eligible for cashback. As shown in example 3, that transaction of Rs. 100 made post 30 days of card issuance is not applicable to avail this cashback.
Up to 4% Value back on Fuel Transactions
You can avail up to 4% value back on your fuel transactions through the accelerated reward points. However, these reward points can be earned in the following manner-
- 4% value back on fuel transactions by earning 20 reward points per Rs. 100 spent at any IOCL outlets which is applicable on fuel transactions made between Rs. 100 and Rs. 5,000 per month
- 1% value back by earning 5 reward points per Rs. 100 spent on online shopping. Applicable on online transactions made between Rs. 100 and Rs. 5,000
If you are a loyal customer of IndianOil outlets,then this credit card provides satisfactory benefits on fuel transactions in the form of reward points. You must keep in mind that your spending capability on fuel expenses must be over Rs.5,000 to avail this benefit. However, if your needs and requirements are quite different from this credit card, you can look for other fuel co-branded credit cards available in the market probably at a lower annual fee such as ICICI Bank HPCL Credit Card.
Fuel Surcharge Waiver
You can avail 1% fuel surcharge waiver on fuel transactions between Rs. 200 to Rs. 5,000. The maximum waiver in a billing cycle is capped at Rs. 50 despite being associated with IndianOil, fuel surcharge waiver can be availed at all petrol pumps across the country. However, for a fuel credit card, the surcharge waiver could have been slightly better.
Other Benefits
As you know this card lets you save on your fuel expenses, but the best part about this credit card is that it also provides benefits on various other categories as mentioned below-
| Category | Benefits |
| Movie Tickets | Get 25% off (up to Rs. 100) on movie tickets booked via BookMyShow.This benefit can be availed only twice a month |
| Dining Discount | 15% off on dining at over 800 restaurants via the Culinary Treats program |
| Annual Fee Waiver: | Annual fee will be waived off on spending Rs. 50,000 in a year |
| Reward Points | 1 eDGE reward point on every Rs. 100 spent via this credit card |
For a credit card with an annual fee of just Rs. 500, these benefits are quite satisfactory as along with savings on fuel transactions, you can also save money on other categories such as dining, entertainment. Not only this, you can also avail plethora of vouchers and discounts by earning eDGE reward points.
Should You Opt for this Card?
Do you commute on daily basis? If your answer is yes,then this is the right credit card for you. To help you decide better, we have laid down a few points considering for whom the card will be an ideal choice. The card is ideal for you if:
- You are a frequent fuel purchaser and commute on a daily basis
- Majority of your fuel purchases are from IndianOil outlets
- You can pay the annual fee of Rs. 500
Must Read: Best Credit Cards in India 2022
Limitations of IndianOil Axis Bank Credit Card
It is true that you can save money on fuel expenses with this credit card, but still, this card might not be the one you are looking for. Before applying, take a look at some of the limitations of this card-
- Fuel Surcharge waiver capping is low and quite similar to any other category-specific credit card
- Fuel discount is only available at IndianOil outlets, which is again a restricted option
