Axis Indian Oil Rupay Credit Card
The Indian Oil Axis Bank Credit Card is a fuel credit card offered by Axis Bank in partnership with Indian Oil Corporation (IOCL). It's designed for people who spend a lot on fuel. This entry-level card has a small joining and annual fee of ₹500. It offers a high reward rate of 5% on fuel purchases at IOCL stations and 1% on online purchases.
Although it doesn’t have many extra perks, you get discounts on movie tickets, dining at partner restaurants, and a fuel surcharge waiver. However, the reward rate for offline spending (excluding fuel) is just 0.20%. If you’re considering this card, you might also want to compare it with similar options like the ICICI Bank HPCL Super Saver Credit Card and BPCL SBI Credit Card, which also have a ₹500 joining fee.
Learn more about this affordable co-branded card from Axis Bank and IOCL.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Before applying for a credit card in India, consider the following factors:
- Eligibility Criteria: Check the age, income, credit score, and employment status requirements set by the bank or financial institution.
- Credit Score: A higher credit score increases your chances of approval and may result in better offers. Ensure your credit score is in good standing.
- Interest Rates and Fees: Compare annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction fees. These can vary significantly between cards.
- Rewards and Benefits: Look for cards that offer rewards, cashback, discounts, or other perks that align with your spending habits.
- Credit Limit: Make sure the credit limit offered is in line with your financial needs. Avoid over-borrowing, which can lead to high-interest charges.
- Repayment Terms: Understand the repayment options, minimum payment amount, and due dates. Consider how easily you can manage timely payments to avoid interest accumulation.
- Card Type and Features: Choose a card type (e.g., standard, premium, travel, etc.) based on your requirements. Some cards offer more benefits for specific categories like travel, shopping, or dining.
- Bank’s Reputation: Opt for a bank with a good track record of customer service and transparency. Read reviews and consider their customer support accessibility.
- Hidden Charges: Be aware of any hidden fees, such as annual fees, balance transfer charges, and cash withdrawal fees.
- Credit Utilization: Ensure you can manage your spending within the credit limit to maintain a healthy credit utilization ratio, which impacts your credit score.
- Long-Term Financial Plans: Think about how the credit card will fit into your long-term financial goals and avoid accumulating unnecessary debt.
What is the credit limit on the RuPay Credit Cards of Axis Bank?
The credit limit depends on your credit history. The bank decides it when you apply for the card.
Can I link my IndianOil Axis Bank Credit Card to a mobile wallet?
Yes, you can link your card to a mobile wallet as long as the wallet accepts Axis Bank cards.
Where can I use the EDGE Reward Points on my Axis Bank Credit Card?
You can use the EDGE Reward Points on the Axis Bank EDGE Rewards Portal to shop for vouchers or products.
How do I pay my credit card bill using UPI with the Fibe Axis Bank Credit Card?
Open your UPI app, select "Pay to UPI ID," enter the UPI ID, confirm the name, and enter the amount. Then, complete the payment by entering your UPI PIN.
Do I get cashback on movie ticket bookings on BookMyShow?
No, there’s no cashback, but you get an instant 10% discount on movie tickets on BookMyShow.
What fuel benefits do I get with the IndianOil Axis Bank Credit Card?
You get 20X Reward Points on fuel purchases at IOCL stations and a 1% discount on fuel charges.
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