IndianOil RBL Bank Credit Card
Gaurav
The IndianOil RBL Bank Credit Card is one of two co-branded cards offered by RBL Bank and IndianOil, with the other being the IndianOil RBL Bank XTRA Credit Card. This card comes with a joining/annual fee of ₹500, which is lower compared to the other variant. If you frequently fuel up at IndianOil stations or live near one, this card is a great choice as it offers excellent rewards for fuel purchases. Cardholders earn 10 Fuel Points for every ₹100 spent at IndianOil outlets, and since each Fuel Point is worth ₹0.50, this translates to a rewarding 5% rate. Additionally, the card offers a fuel surcharge waiver, further boosting the total savings to 6%. Continue reading to discover more about all the card’s features.
Rewards and Benefits
Rewards Rate
Earn 10 Fuel Points for every ₹100 spent at IndianOil fuel stations and 1 Fuel Point for every ₹100 spent on other eligible purchases.
Reward Redemption
Each Fuel Point is worth ₹0.50 when redeemed at IndianOil stations.
Movie & Dining
N/A
Travel
N/A
Golf
N/A
Domestic Lounge Access
N/A
International Lounge Access
N/A
Insurance Benefits
N/A
Fees & Charges
Interest Rates
2.5% to 3.99% Per Month
Spend-Based Waiver
The annual fee is waived if you spend ₹1.75 lakh in a year.
Rewards Redemption Fee
Rs. 99 + GST
Cash Advance Charges
2.5% or a minimum of ₹500, whichever is higher.
Foreign Currency Markup
3.50% +GST
Fuel Surcharge
1% fuel surcharge waiver.
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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