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IndianOil Axis Bank Credit Card
★★★★☆(4.5)What if you could earn 4% cashback on all your fuel purchases? That's exactly what the IndianOil Axis Bank Credit Card offers. In addition, you can earn 2X reward points on all your other spending, which means you can accumulate points faster and redeem them for free fuel, movie tickets, and more. Moreover, you will receive a welcome bonus of 100% cashback on fuel. If you frequently dine out, this card also provides a 15% discount on restaurants via EazyDiner, accelerated reward points on shopping, and much more, all for a joining fee of just ₹500. Keep reading to know more!
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Features and Benefits
Aspects that make spending using this card lit as the sun!
Fee and Charges
Think of these as small investments to keep your credit card running smoothly.
Charges
Joining Fee
₹500Annual Fee
₹500Annual Percentage Rate
52.86%Add-on Card Fee
FreeMinimum Repayment Amount
5%Cash Withdrawal Fee
2.5%Cash Advance Limit
40%Card Replacement Fee
NilForeign Transaction Fee
3.50%Over Limit Penalty
2.50%Fuel Transaction Surcharge
1%Reward Point Value
₹0.20Pros
Aspects that make this credit card amazing.
- ⮚Annual fee waived on spending more than ₹50,000 in a year.
- ⮚100% cashback up to ₹250 on all fuel transactions.
- ⮚A surcharge waiver of 1% on fuel spends at any fuel outlet.
- ⮚10% discount on a movie ticket at BookmyShow.
- ⮚Accelerated reward points at online shopping.
Cons
Aspects this credit card lacks.
- ⮚Dining benefit available on a minimum order value of ₹1500.
- ⮚The maximum surcharge waiver is just ₹50 per statement cycle.
- ⮚GST charged on fuel surcharge is non-refundable.
- ⮚There is an upper limit on reward points.
IndianOil Axis Bank Credit Card Review
This is the truth, the whole truth, and nothing but the truth; brought to you by the other users.
The Axis Bank IndianOil Credit Card is a good option for frequent fuel spenders who want to earn rewards and save money on fuel purchases. The card offers a 4% surcharge waiver on fuel transactions at IndianOil outlets, which can save you a significant amount of money if you fill up your car regularly. The card also earns 20 reward points per ₹100 spent on fuel purchases, which can be redeemed for a variety of rewards, including travel, merchandise, and cash back.
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: 1. Indian Oil HDFC Bank Credit Card 2. SBI BPCL Credit Card
Overview
| Best For | Fuel |
|---|---|
| Joining Fee | ₹500 |
| Annual Fee | ₹500 (waived on ₹50,000 spend in a year) |
| Welcome Benefits | 100% cashback up to ₹250 on all fuel transactions |
| Card Type | Reward Points |
| Card Network | Visa and Rupay |
IndianOil Axis Bank Credit Card Maximum Cashback
| Category | Reward points (Per ₹100 spent) |
|---|---|
| Fuel Spends at IOCL | 20 |
| Online Shopping | 2 |
| EDGE Reward Point | 1 |
Who should get an IndianOil Axis Bank Credit Card?
Anyone who visits an IndianOil pump very frequently can make the most of an IndianOil Axis Bank Credit Card. A user who spends ₹48,000 on fuel annually at IOCL can get a cashback of ₹1,920 along with a fuel surcharge waiver of ₹480. Similarly, if the user spends ₹36,000 on online shopping, he will get a cashback of ₹360. Further, if the user books tickets on BookMyShow worth ₹6,000 in a year, he or she gets a cashback of ₹600. So, the card is for those who use the card for multiple purposes and benefit from cashback and reward points.
How to Apply for an IndianOil Axis Bank Credit Card?
IndianOil Axis Bank Credit Card Eligibility
Applicants must be at least 18 years of age and have a steady source of income to be eligible for a credit card. The individual should either be a Resident of India or a Non-Resident Indian.
Documents Required
- Proof of identity: Proof of identity: PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI or any other government-approved photo ID proof.
- Proof of Address: Proof of Address: Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 months old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, or any other government approved address proof.
- Proof of Income: Proof of Income: Latest one or two salary slips (not more than 3 months old), latest Form 16, and the last 3 months’ bank statement.