IndianOil RBL Bank XTRA Credit Card
The IndianOil RBL Bank XTRA Credit Card is designed to offer fuel-specific rewards, making it an ideal choice for frequent fuel buyers at IndianOil outlets. The card comes with a joining fee of ₹1,500 for the first year, but new cardholders are compensated with Fuel Points equivalent to the joining fee, effectively offsetting this cost. Every ₹100 spent on fuel purchases at IndianOil stations earns 15 Fuel Points, resulting in a reward rate of 7.5%. Furthermore, considering the fuel surcharge waiver, the overall savings achieved through the use of this card reach approximately 8.5%.
There is a monthly cap of 2,000 Fuel Points, which means cardholders can save up to ₹1,000 per month on fuel purchases. Since 1 Fuel Point is worth ₹0.50, this translates into annual savings of ₹12,000 solely on fuel. Other eligible fuel transactions not made at IndianOil outlets also earn 2 Fuel Points for every ₹100 spent. This makes the IndianOil RBL Bank XTRA Credit Card a valuable option for those who want to save on fuel costs while enjoying straightforward, no-frills benefits.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
IndianOil RBL XTRA Credit Card Review: Features, Rewards, and Value
The IndianOil RBL XTRA Credit Card is built mainly for users who spend regularly on fuel at IndianOil outlets. Instead of offering lifestyle or travel perks, this card focuses on giving higher returns on fuel purchases. Below is a simple explanation of its features, rewards, and overall value, with points arranged in a shuffled order for better clarity.
Fuel Rewards and Point Value
One of the main highlights of this card is its fuel reward structure. Cardholders earn 15 Fuel Points for every ₹100 spent at IndianOil fuel stations, with a monthly cap of 2,000 Fuel Points. This gives an effective reward rate of around 7.5 percent on fuel spends. For all other eligible purchases, the card offers 2 Fuel Points per ₹100 spent.
Each Fuel Point is worth ₹0.50 and can be redeemed directly at IndianOil fuel stations, making the rewards easy to understand and use. However, Fuel Points are not awarded on transactions such as utility bills, wallet loads, rentals, railway bookings, or government payments.
Welcome Benefit and Joining Value
New users receive a welcome benefit of 3,000 Fuel Points after the joining fee is charged and at least one transaction of ₹500 or more is completed within the first 30 days. These points are valued at ₹1,500, which helps recover the joining fee in the first year if the card is used actively.
Milestone-Based Benefits
The card also includes milestone rewards for higher quarterly spending. If a cardholder spends ₹75,000 in a quarter, they earn an additional 1,000 Fuel Points. Over a full year, spending ₹3,00,000 can result in 4,000 extra Fuel Points. Completing all quarterly milestones also makes the card eligible for an annual fee waiver.
Key Features at a Glance
- Earn 15 Fuel Points for every ₹100 you spend at IndianOil fuel stations.
- 2 Fuel Points per ₹100 on other eligible purchases
- Monthly fuel reward cap of 2,000 Fuel Points
- 1 Fuel Point equals ₹0.50 redemption value
- 3,000 Fuel Points as a welcome benefit
- Quarterly milestone rewards with annual fee waiver
- RuPay card with UPI and NCMC support
Fuel Points Redemption Process
Redeeming Fuel Points is straightforward and happens instantly at IndianOil fuel stations. At the payment terminal, the user needs to press the ‘#’ key, select Instant Redeem, choose the XTRAREWARDS program, enter the registered mobile number, and then input the redemption amount. The fuel bill is adjusted immediately against the available points.
RuPay and UPI Advantages
Being a RuPay credit card, the IndianOil RBL XTRA Credit Card can be linked to UPI apps. This allows users to make UPI payments directly from their credit card, which is useful for those who prefer digital payments. The card also supports National Common Mobility Card features, enabling use at select transit systems.
IndianOil RBL XTRA Credit Card Review
The IndianOil RBL XTRA Credit Card is best suited for users who primarily want savings on fuel and regularly refuel at IndianOil outlets. It offers a high reward rate on fuel spends and simple redemption, but very limited benefits beyond fuel. With a joining and annual fee of ₹1,500 plus GST, users need to spend around ₹13,400 per month on fuel to fully utilize the monthly reward cap. For those looking only for fuel savings, this card can make sense. However, users seeking broader rewards and lifestyle benefits may find better value in other fuel credit cards.
Could you please share the applicable joining fee for the IndianOil RBL Bank XTRA Credit Card?
The joining fee is ₹1,500 + GST, charged when you first get the card.
Is there an annual fee, and can it be waived?
Yes, there is an annual fee of ₹1,500 + GST, but it can be waived if you spend ₹2,75,000 in a year.
Could you please elaborate on the welcome benefits provided with this credit card?
To receive 3,000 Fuel Points equivalent to ₹1,500, simply make a minimum spend of ₹500 within 30 days from the date of card issuance.
What is the reward rate for fuel purchases?
Earn 15 Fuel Points per ₹100 spent at IndianOil stations, with a monthly cap of 2,000 Fuel Points (7.5% reward rate).
Do I earn Fuel Points on other purchases?
Yes, you earn 2 Fuel Points per ₹100 on eligible non-fuel purchases.
Is there a fee for redeeming Fuel Points?
Yes, a ₹99 + GST fee applies when redeeming Fuel Points at IndianOil outlets.
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