IndianOil RBL Bank XTRA Credit Card
The IndianOil RBL 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%. Additionally, when you factor in the fuel surcharge waiver, the total savings from using this card amount to 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 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?
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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