Axis Indian Oil Rupay Credit Card
Gaurav
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.
While the card doesn't offer many extra benefits, you still get discounts on movie tickets and dining at partner restaurants through the bank’s Dining Delights Program. Cardholders also enjoy fuel surcharge waivers and other benefits.
Learn more about this affordable co-branded card from Axis Bank and IOCL.
Rewards and Benefits
Movie & Dining
10% instant discount on movie ticket bookings on BookMyShow
Domestic Lounge Access
N/A
Rewards Rate
Earn 20 Reward Points for every Rs. 100 spent on fuel at IOCL stations, 5 Reward Points for every Rs. 100 spent on online shopping, and 1 EDGE Point for every Rs. 100 spent on other purchases.
Golf
N/A
Travel
N/A
Insurance Benefits
N/A
International Lounge Access
N/A
Reward Redemption
You can redeem Reward Points for shopping or travel vouchers, or for products from the available catalog on the Axis Bank EDGE Rewards Portal.
Fees & Charges
Interest Rates
3.6% Per Month (52.86% Per Annum)
Spend-Based Waiver
Renewal Fee Waived on Annual Spending of Rs. 3.5 Lakh
Rewards Redemption Fee
Nil
Cash Advance Charges
2.5% of the Total Transaction Amount (Minimum Rs. 500)
Foreign Currency Markup
3.50 +GST
Fuel Surcharge
1% Fuel Surcharge Waived for Transactions Between Rs. 400 and Rs. 4,000
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.
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