IndianOil Axis Bank Credit Card: Co-branded Fuel Card

IndianOil Axis Bank Credit Card is a co-branded credit card that offers benefits on your fuel transactions. With this card, you can earn higher reward points or value back on your transactions at IndianOil outlets. Read on to know the features of Axis Bank IndianOil Credit Card:

Up to 4% Value-Back

You can avail up to 4% value-back on your fuel transactions through the accelerated reward points model. Below mentioned are the details regarding the same:

• 4% value-back on fuel transactions by earning 20 EDGE reward points per Rs. 100 spent at any IOCL outlets. Applicable on fuel transactions between Rs. 400 and Rs. 4,000 per month.
• 1% value-back by earning 5 EDGE reward points per Rs. 100 spent on online shopping. Applicable on online transactions between Rs. 100 and Rs. 5,000.
• 1 EDGE reward point on every Rs. 100 spent, except on rent, wallet, insurance, gold/jewellery, utilities & government-related spends.

Suggested read: Best Credit Cards for Reward Points

Other Benefits

This credit card also offers benefits on online shopping, movie ticket bookings, and more. Here are the additional benefits of Indian Oil Axis Bank credit card:

Welcome Benefit: EDGE reward points equivalent to the value of 1st fuel transaction made within the 1st 30 days of card issuance. Here, you can earn max. 1,250 EDGE reward points that are worth up to Rs. 250.

Fuel Surcharge Waiver: 1% fuel surcharge waiver of up to Rs. 50 per statement cycle on fuel spends worth Rs. 400 to Rs. 4,000. Fuel spends are identified by MCC 5541, 5542 & 5983 and waiver is applicable only on UPI transactions done via credit card.

Annual Fee Waiver: Annual fee is waived off on spending Rs. 3.5 lakh in the previous year. Here, spends made on rent, wallet, insurance, EMI, cash withdrawals, fee & charges, GST and payment reversals are not eligible for spend-based fee waiver. For customers on-boarded before 20th Apr 2024, the previous annual spending condition of Rs. 50,000 is still applicable. For them, the new waiver condition of Rs. 3.5 lakh annual spends is going to be applicable on anniversary dates that come on or after 20th Apr 2025.

Movie Benefits: 10% discount on booking movie tickets through BookMyShow app or website.

Dining Discount: Up to 15% discount, max. Rs. 500 off once per month, on dining bills worth min. value of Rs. 2,500 at partner restaurants via EazyDiner.

UPI Payments: If you own a Rupay variant of the IndianOil Axis Bank Credit Card, you can also use it for UPI payments, by linking it to an UPI app such as Google Pay, PhonePe, Paytm, etc. Using this feature, users will be able to make UPI payments, even when they do not have sufficient funds in their bank account.

Read a complete review of IndianOil Axis Bank Credit Card here.

IndianOil Axis Bank Credit Card is a fuel credit card that gives value-back on your fuel transactions at IndianOil outlets in the form of reward points. Apart from fuel benefits, this credit card also offers other privileges, such as reward points on your first fuel transaction, annual fee waiver, discount on movie tickets, dining discount, etc. However, earlier you could also avail the annual fee waiver by spending just Rs. 50,000 in a year, now this spending condition has been increased to Rs. 3.5 lakh annual spends which might prove to be difficult for some cardholders to achieve.

Overall, this is a decent credit card that provides satisfactory benefits on your fuel spends as reward points. You can apply for this credit card if you can easily spend Rs. 3,000 to Rs. 5,000 in a month on your fuel expenses at IndianOil fuel outlets. However, if you are looking for a card that offers benefits on multiple categories, then you can look for top credit cards available in the market.

IndianOil Axis Bank Credit Card offers benefits on your fuel transactions, but if you are looking for other similar credit cards, then you can refer to the cards mentioned below:

IDFC FIRST Power+ Credit Card

3.5_/5

Joining fee: ₹499

Annual/Renewal Fee: ₹499

Up to 6.5% value-back on HPCL fuel spends

30 rewards per Rs. 150 spent on grocery, utilities & IDFC FIRST FASTag

Co-branded

Reward Points

Fuel

Check Eligibility

Product Details

• 5% savings as 30 rewards per Rs. 150 spent on HPCL fuel & LPG
• 1.5% savings as 6 Happy Coins per Rs. 100 spent on HP Pay app
• 3 rewards per Rs. 150 spent on UPI & other purchases, 1 RP = Rs. 0.25
• 1 complimentary domestic airport lounge access per quarter on min. monthly spends of Rs. 20,000
• 25% off, up to Rs. 100, on movie tickets once per month & annual fee waived on Rs. 1.5 lakh annual spends

Know More

IndianOil HDFC Credit Card

3_/5

Joining fee: ₹500

Annual/Renewal Fee: ₹500

Up to 6% savings on IndianOil fuel spends

5% fuel points on groceries and bill payment spends

Co-branded

Fuel

Check Eligibility

Product Details

• 5% fuel points on spends done at IndianOil outlets
• 1% fuel surcharge waiver, up to Rs. 250 per month, for IOCL fuel spends of Rs. 400 and above
• 1 fuel point per Rs. 150 spent on other purchases, including UPI, where 1 fuel point = Up to Rs. 0.96
• Complimentary IndianOil XTRAREWARDS Program (IXRP) membership on joining
• Annual fee waived off on spending Rs. 50,000 in a year

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BPCL SBI Card

3_/5

Joining fee: ₹499

Annual/Renewal Fee: ₹499

Up to 4.25% back as rewards & surcharge waiver on BPCL spends

Welcome bonus worth Rs. 500

Co-branded

Fuel

Check Eligibility

Product Details

• 2,000 bonus rewards worth Rs. 500 on joining fee payment
• 3.25% value back as 13X reward points on BPCL fuel spends
• 5X reward points on groceries, departmental stores, movies & dining spends
• 1 reward point per Rs. 100 non-fuel retail spend, where 4 reward points = Rs. 1
• 1% fuel surcharge waiver of up to Rs. 100 per month on BPCL spends of up to Rs. 4,000

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ICICI Bank HPCL Coral Credit Card

3_/5

Joining fee: ₹199

Annual/Renewal Fee: ₹199

Up to 3.5% savings on HPCL fuel spends

25% off up to Rs. 100 per transaction on BookMyShow movie tickets

Fuel

Check Eligibility

Product Details

• 2.5% cashback, up to Rs. 100 per month, on HPCL spends of min. Rs. 500
• 1% surcharge waiver on HPCL fuel spends worth up to Rs. 4,000 per transaction
• 2 ICICI bank rewards points per Rs. 100 retail spend, except fuel
• 15% off on dining via ICICI Bank Culinary Treats program
• Annual fee reversed on Rs. 50,000 annual card spends

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Below mentioned are some of the important Axis Bank Indian Oil Credit Card charges:

Click here to check other associated fees and charges.

To apply for Axis Bank IndianOil Credit Card, you must meet the following eligibility criteria:

Q. Is IndianOil Axis Bank Credit Card good for me?

A. IndianOil Axis Bank Credit Card is a co-branded fuel credit card that offers higher rewards or value back on your fuel transactions at IOCL outlets. This is a suitable option for you if your fuel spends are around Rs. 3,000 to Rs. 5,000 for every month. Apart from fuel, this credit card also offers other benefits, such as dining discount, discount on BookMyShow, fuel surcharge waiver, annual fee waiver and more. Understand your spending preferences and see whether the card offers decent value back.

Q. How can I apply for IndianOil Axis Bank Credit Card?

A. You can apply online for Indian Oil Axis Bank Credit Card through Paisabazaar. Click here to begin. Enter your mobile number and Check Offers. If you are eligible, you will be able to see the Indian Oil Axis Bank Card in the list. Apply for the card by filling more details.

Paisabazaar offers a completely digital application process for Axis Bank credit cards, hence no physical documentation will be required. Once the verification is complete, the card will be delivered to your registered address in 3-5 business days.

Q. What is the maximum fuel surcharge waiver offered by IndianOil Axis Bank Credit Card?

A. Axis Bank IndianOil Credit Card offers a fuel surcharge waiver of 1% or a maximum of Rs. 50 in a statement cycle. This fuel surcharge waiver is offered on your transactions between Rs. 400 and Rs. 4,000.

Q. Is IndianOil Axis Bank Credit Card suitable for online shopping?

A. Being a fuel credit card, this card also provides benefits on online shopping. You can earn 1% value back by earning 5 reward points per Rs. 100 spent on online shopping. However, this is applicable only on online transactions between Rs. 100 and Rs. 5,000.