Indian Oil Axis Bank Credit Card

The Indian Oil Axis Bank Credit Card is intended for people who are trying to cut back on their fuel costs. The card gives users value in the form of expedited reward points at Indian Oil locations in addition to respectable earnings on internet purchases. Cardholders can also get a discount and cashback as a welcome benefit on BookMyShow. Continue reading to learn more about the Axis Indian Oil Credit Card and how it stacks up against other fuel credit cards.

Axis Bank and IOCL (Indian Oil Corporation Limited) collaborated to create the co-branded Indian Oil Axis Bank Credit Card. The card’s primary purpose is to offer fantastic savings chances to individuals who frequently spend money on fuel. It has a low annual charge of Rs. 500 because it is an entry-level card. The card offers a respectable reward rate of 1% on online purchases and a noteworthy reward rate of 5% on fuel purchases at IOCL filling stations.

Despite not having many additional perks, an entry-level credit card does come with eating and movie benefits, including quick discounts on movie tickets and reduced prices at participating restaurants through the bank’s eating Delights Programme.

Features And Benefits Of Indian Oil Axis Bank Credit Card

Upto 4% Valueback

You can use the accelerated reward points to receive up to 4% value back on your fuel purchases. Here are the specifics:

• The cardholders will receive 4% of their fuel purchases back as value. For every Rs. 100 spent at any IOCL outlet, the bank will award 20 reward points. The promotion is available for monthly fuel purchases between Rs. 100 and Rs. 5,000.
• Receive five reward points for every Rs. 100 spent on e-commerce purchases to receive 1% value back. This promotion is only good for online purchases between Rs. 100 and Rs. 5,000.

Welcome Benefit

• You will get a welcome bonus of 100% cashback on all of your fuel purchases with the credit card, up to Rs. 250.
• 30 days once the card is issued, the transactions need to be finished.

Fuel Benefits

• All fuel purchases you make at Indian Oil Corporation Limited petrol pumps around the nation will earn you accelerated reward points.
• You will gain 20 reward points for every Rs. 100 you spend on fuel.
• To qualify for accelerated reward points, purchases must fall within the range of Rs. 100 as a minimum and Rs. 5,000 as a maximum.
• Additionally, you will be exempt from the 1% fuel surcharge with this card for all monthly transactions totaling between Rs. 200 and Rs. 5000 per month.

Shopping Benefits

• With this credit card, you will receive 1% value back on all of your shopping purchases in the form of accelerated reward points.
• For every Rs. 100 you spend, you will get five reward points on the credit card you use.
• The minimum and maximum purchase amounts to qualify for the accelerated reward points are 100 and 5,000 rupees, respectively.

Milestone Benefits

• Spending Rs. 50,000 in a year waives the yearly cost for the following year.

Reward Point Benefits

• For every Rs. 100 spent on the card, a single EDGE reward point will be granted.
• These reward points can be used to buy a variety of goods from the Axis Bank rewards catalogue.

Reward Redemption of Indian Oil Axis Bank Credit Card

On the Axis Bank EDGE Rewards Portal, EDGE Points acquired on the Indian Oil Axis Bank Credit Card may be exchanged for gift cards, travel, or merchandise from the specified catalogue.

Dining Benefits

• With this credit card, you can get a discount of up to 15% on dining at partner restaurants of Axis Bank under the Dining Delights program.

Entertainment Benefits

• The Indian Oil Axis Bank credit card additionally provides benefits for entertainment, such as an automatic discount on movie tickets bought through BookMyShow.
• Applying the offer from the ‘offer’ section during payment is required to receive the discount.

Indian Oil Axis Bank Credit Card Offers

The deals available on the Axis Bank Indian Oil Corporation Petrol card are given below:

• On fuel expenditures made during 30 days of the Axis IOCL card’s issuance, you’ll get 100% cashback (up to $250).
• 4% value back on fuel transactions.
• 1% value back on online shopping.
• 20% discount at over 400 partner restaurants under the Dining Delights Program.
• 10% off on movie ticket booking on BookMyShow
• Get a 1500 discount on Zoomcar reservations.
• Enjoy a 30% discount on hotel bookings at Fab hotels
• A 25% discount on the very first order on PharmEasy app
• Get a 10% cashback on bookings made via Booking.com
• A flat 30% discount on any bookings made on OYO
• Another offer customers can enjoy is an instant discount up to 5% discount on booking a domestic flight from Goibibo

Indian Oil Axis Bank Credit Card Limit

The bank has the discretion to determine the credit limit for the IndianOil Axis Bank Credit Card. Axis Bank considers many factors while assigning the credit limit and it varies from one person to the other. Several factors influence the assessment such as the primary applicant’s annual income, credit score, credit report, and repayment history for previous and current debts.

Fees And Charges Of Indian Oil Axis Bank Credit Card

Description	Charges
Joining fee	Rs. 500 and Life Time Free Offer for *select channels
Annual Fee	1st Year:-Nil 2nd Year onwards: Rs. 500, Lifetime Time Free Offer for *select channels
Add-on card joining fee	Nil
Add-on card annual fee	Nil
Card replacement fee	Nil
Cash payment fee	Rs.100
Duplicate Statement fee	Waived
Charge slip retrieval fee or copy request fee	Waived
Outstation cheque fee	Waived
Mobile alerts for transactions	Free
Hotlisting charges	Nil
Balance enquiry charges	Waived
Finance charges (Retail purchases and cash)	3.6% per month (52.86% per annum)
Cash withdrawal fees	2.5% (Min. Rs. 500) of the cash amount
Overdue penalty or Late payment fees	Nil if Total Payment Due is less than Rs. 500 Rs. 500 if total payment due is between Rs. 501 – Rs. 5,000 Rs. 750 if total payment due is between Rs. 5,001 – Rs. 10,000 Rs. 1200 if total payment due is greater than Rs.10,000
Over limit penalty	2.5% of the over limit amount (Min Rs. 500)
Cheque return or dishonor fee or auto-debit reversal	2% of the payment amount subject to Min. Rs.450, Max. Rs. 1,500
Surcharge on purchase or cancellation of railway tickets	As prescribed by IRCTC/Indian Railways
Foreign currency transaction fee	3.5% of the transaction value
G.S.T	As per existing government norms
Reward Redemption fee	Yes
Rent Transaction fee	On each rent transaction made using an Axis Bank credit card, a fee of 1% up to INR 1,500 per purchase plus taxes would be charged.GST will be applied as announced by the Indian government.
Dynamic Currency Conversion markup	For each overseas purchase made in Indian currency at an international location or for transactions made in Indian currency with businesses based in India but registered in a foreign country, Axis Bank credit cards will be charged 1% plus taxes.

Late Payment Charges of Indian Oil Axis Bank Credit Card

• If the balance is less than 100, there are no charges applied.
• ₹500 when the Outstanding amount is between ₹501-₹5000.
• An amount of INR 750 would be charged for amounts ranging between ₹5001 to ₹10,000.
• It is need to pay ₹1200, if the sum is more than  ₹10,000.

Indian Oil Axis Bank Credit Card Valueback Chart

Details	Annual Spends (Rs.)	Cashback(Rs.)
Fuel Spends at IOCL	48,000	1,920
Fuel Surcharge Waiver	N/A	480
Online Shopping	36000	360
Movie ticket booking on BookMyShow	6000	600
Others	54000	108
Activation Benefits	N/A	250
Total Annual benefit	N/A	3,718
Annual Spends	144,000	N/A
Annual Free Fuel (in Litres)*	N/A	53 ltrs

Considering Fuel price at INR 70/litre

Eligibility Criteria For Indian Oil Axis Bank Credit Card

Eligibility Criteria	Particulars
Primary cardholder age	Between 18 – 70 years
Add-on cardholder age	15 years
Residency	Both Resident and Non-resident Indians are eligible

The bank retains the option to modify the qualifying requirement at any time. They also reserve the right to accept or reject applications based on their internal parameters.

Documents Required For Indian Oil Axis Bank Credit Card

Documentation	Particulars
Identity proof	Passport, driving license, PAN Card, Aadhaar card
Residence proof	Passport, Ration card, electricity bill, landline telephone bill
Photograph	Colored photograph
Income proof	Form 16/latest payslip/IT return copy

Depending on the specific needs of the bank, the document list may be modified. This list is indicative and applicants should carry a copy of the above documents to the bank branch in case of applying offline for the card. Within 21 days of the application, the bank typically notifies the applicant of its decision to lend the credit card or not.

Examining the fees and charges before applying for a credit card is crucial. Below is a summary of charges/fees levied by IndianOil Axis Bank Credit card.

Should You Apply For Indian Oil Axis Bank Credit Card?

The IndianOil Axis Bank Credit Card is a gasoline credit card that offers reward points in exchange for your fuel purchases at IndianOil locations. This credit card offers other perks in addition to fuel discounts, like cashback on your first fuel purchase, a waiver of the annual fee, a discount on cinema tickets, a dining discount, etc. The good news is that if you frequently buy fuel, you can get this credit card for free by spending Rs. 50,000 in a year.

Overall, this is a respectable credit card that offers acceptable rewards on your fuel purchases. If you can afford to spend between Rs. 4,000 and Rs. 5,000 on fuel at IndianOil fuel stations each month, you are eligible to apply for this credit card. However, you can search for the best credit cards on the market if you’re searching for a card that gives perks across a variety of categories.

How To Apply For Indian Oil Axis Bank Credit Card?

You can apply for the Axis Indian Oil Petrol Card online via the Bajaj Markets website or mobile application by following the instructions below:

• Step 1: Visit the Bajaj Markets website or app
• Step 2: Fill in your details
• Step 3: Check out the list of multiple Axis Bank Credit Cards
• Step 4: Compare the multiple options available
• Step 5: Choose the credit card that best fits your needs.
• Step 6: Submit your application form

Indian Oil Axis Bank Credit Card Status

You can check the status of Axis Bank IOCL credit card through the following ways:

Axis Bank website: 

• Visit the Axis Bank’s official website.
  • The ‘Products’ section should be clicked, then the ‘Cards’ option should be chosen.
  • Then choose ‘Apply online for Credit Cards’. 
  • Select ‘Track your Application’. 
  • Enter your Application ID and registered mobile number.

• For status checks, you may utilize Axis Support.
• Dial the bank’s customer service hotline.
• Send an email to the bank.
• To check the status, have your ID or application number close to hand.

Application Process For Indian Oil Axis Bank Credit Card Via Offline

You can fill out the application for the card in any Axis Bank branch by walking in with the necessary paperwork. Also, calling customer care, via SMS, mobile app, etc is also an option.

Other Fuel Credit Cards

Indian Oil Axis Bank Credit Card offers benefits on your fuel transactions, but if you are looking for other similar credit cards, then you can refer to the cards mentioned in the table below:

Credit Card	Annual Fee	Key Feature
HDFC Bharat Cashback Credit Card	Rs. 500	Fuel costs, IRCTC tickets, groceries, bill payments, and mobile recharges all qualify for 5% cashback.
IndianOil HDFC Bank Credit Card	Rs. 500	5% of your purchases at IndianOil locations are redeemable for fuel.
ICICI Bank HPCL Coral Credit Card	Rs. 199	On fuel purchases at HPCL pumps, 2.5% rebate and a 1% fuel surcharge reduction are offered.
SBI BPCL Credit Card	Rs. 499	At BPCL petrol stations, 13X reward points equate to 4.25% in value back on fuel purchases.

Payment Options For Indian Oil Axis Bank Credit Card

There are a lot of options for making Axis Bank Credit Card Online and Offline Payments. You can choose any method depending upon your feasibility.

• Credit card payments are simple with Axis Bank Net Banking.
• For card payments, there is also the Axis Mobile Application.
• So pay off any outstanding debts online or in cash.
• You may also use checks to pay off any outstanding debts.
• There are also payment available through Billdesk and other UPI-enabled apps
• Additionally, if you are okay with it, use the Axis Bank’s auto-debit feature.

Indian Oil Axis Bank Credit Card Vs. BPCL SBI Card

Categories	Indian Oil Axis Bank Credit Card	BPCL SBI Card
Joining Fees	Rs. 500	Rs. 499
Editor’s Rating	3.9	3.9
Key Features	On fuel purchases at IndianOil Outlets, earn 20X EDGE Reward Points. When you shop online, you can earn 5x EDGE Reward Points. Receive 10% off at BookMyShow Get 1% off the fuel surcharge with this offer	Fuel sales at BPCL petrol stations will earn you 4.25% Value-back and 13X* Reward Points. 1300 reward points maximum per billing cycle 3.25% + 1% 5X Reward Points for every Rs. 100 spent at Groceries, Department Stores, Movies & Dining. Fuel surcharge waiver on all transactions up to Rs. Receive 1 reward point for every Rs. 100 spent on retail items other than petrol. Flexible Instant Redemption Programme available at a few of the 1200 BPCL gas stations Transfer your outstanding debt from credit cards from other banks to your BPCL SBI Card to receive a cheaper interest rate and pay it in EMIs
Editor’s Review	Pros 20% off at more than 4000 partner restaurants with Dining Delights on BookMyShow, an immediate discount On all fuel purchases in India, there is a 1% fuel cost waiver. Cons No golf or coaching events No access to airport lounges	Pros With Flexipay, you have the option to convert your transactions into convenient monthly installments. Get a draught or cheque over your cash limit using the Easy Money Facility, and have it sent to your location. Renewal Fee refundable if annual spending for the prior year was less than Rs. 50,000 Cons No golf or coaching events Airport Lounge visits made through the Priority Pass Programme while travelling internationally after the number of complimentary visits has been used up will be subject to a $27 usage fee plus any relevant taxes.

Indian Oil Axis Bank Credit Card Vs. Kotak Wealth Management Infinite Credit Card

Categories	Indian Oil Axis Bank Credit Card	Kotak Wealth Management Infinite Credit Card
Joining Fees	Rs. 500	0
Editor’s Rating	3.9	3.6
Key Features	On fuel purchases at IndianOil Outlets, earn 20X EDGE Reward Points. When you shop online, you can earn 5x EDGE Reward Points. Receive 10% off at BookMyShow Get 1% off the fuel surcharge with this offer	The Kotak Wealth Management Infinite Credit Card will be made specifically for you, with a handcrafted illustration of the cardholder’s likeness on the front of the card. increased credit limit Receive a quick credit limit extension offer and an initial credit limit of Rs. 10 lakh to help finance large purchases. International Event Access: Gain entry to the most prominent events in the globe with benefits including VIP seating, champagne receptions, an invitation to an after-event party, a celebrity autograph, and more. Receive exclusive invitations to high-end events in the culinary, entertainment, art, and fashion areas.
Editor’s Review	Pros 20% off at more than 4000 partner restaurants with Dining Delights on BookMyShow, an immediate discount On every fuel transactions in India, there is a 1% fuel cost waiver. Cons No golf or coaching events No access to airport lounges	Pros For the cardholder, two free rounds of golf every month. Once every three months, the cardholder can additionally invite two guests for a free game. Get free monthly rewards worth Rs. 800 worth of 800 reward points. Only in India, there are four free visits each month to Visa lounges. Cons A “by-invite-only” credit card, this one.

Indian Oil Axis Bank Credit Card Vs. Axis Bank Atlas Credit Card

Categories	Indian Oil Axis Bank Credit Card	Axis Bank Atlas Credit Card
Joining Fees	Rs. 500	Rs. 5,000
Editor’s Rating	3.9	4.3
Key Features	On fuel purchases at IndianOil Outlets, earn 20X EDGE Reward Points. When you shop online, you can earn 5x EDGE Reward Points. Receive 10% off at BookMyShow Get 1% off the fuel surcharge with this offer	Once you have an ATLAS Credit Card, you automatically join the unique Silver membership tier, which has a number of advantages. Additionally, your membership tier will be increased the more you spend during your anniversary year. * Unlock extra advantages for Gold and Platinum tier memberships. When spending Rs. 7.5L or more in an anniversary year, you’ll be promoted to the Gold tier, and when you spend more than Rs. 15L, you’ll be promoted to the Platinum tier. Keep in mind that each tier offers a base earning rate of 2 EDGE Miles for every Rs. 100 spent and an accelerated earning rate of 5 EDGE Miles for every Rs. 100 spent on direct airline and direct hotel spending through the TRAVEL EDGE platform. Milestone and Annual incentives are provided for each tier in the form of redeemable EDGE Miles. Annual Perk: Receive up to 10,000 EDGE Miles at the end of the year. Please be aware that 1 EDGE Mile equals 1 Rupee. Benefits from reaching the Spends Milestone include up to 17,500 EDGE Miles. Please be aware that 1 EDGE Mile equals 1 Rupee. Earn 5 EDGE Miles for every Rs. 100 spent on travel.Get 2 EDGE Miles for every Rs. 100 spend to earn 2 EDGE Miles on other purchases. Airport pick-up service, domestic and international lounge access, and concierge services
Editor’s Review	Pros 20% off at more than 4000 partner restaurants with Dining Delights on BookMyShow, an immediate discount On all fuel transactions in India, there is a 1% fuel cost waiver. Cons No golf or coaching events No access to airport lounges	Pros Miles can be easily converted to programme partner miles using the miles transfer programme. 2 Partner Miles for every 1 EDGE Mile Take advantage of the dining offer that offers 25% off up to Rs. 800 while dining at restaurants with EazyDiner. This applies to orders with a minimum of Rs. 2000 and is valid twice a month per card. Cons No golf perks, no zero liability insurance, and no insurance perks

How To Contact The Indian Oil Axis Bank Credit Card Customer Care?

1. Contact customer service if you are having any issues with your Axis Bank petrol card issued by Indian Oil. The Axis Bank Credit Card Customer Care operates from 8:00 AM to 8:00 PM, providing assistance for any inquiries related to your credit card. The IVR service, however, is available 24×7. To resolve any concerns, call 022 6798 7700 or the Axis Bank toll-free lines at 1860 419 5555 or 1860 500 5555.
2. You can use the instant chat service available on Axis Bank website – Axis AHA. It is a chatbot that provides assistance with Axis IndianOil card issues and questions.
3. Write to customer.services@axisbank.com if you want to email Axis Bank with a question or a complaint about the Axis Bank IndianOil card.

Conclusion

The IOCL Axis Bank credit card is definitely something to think about if you’re looking for an entry-level fuel credit card because you get a relatively high reward rate of 4% on fuel spending. The card also provides an expedited reward rate of 1% on online purchases in addition to the gasoline benefit. However, the incentive rate for offline purchases (aside from purchases of fuel) is incredibly low (only 0.20%).

Additionally, this card once included a complimentary Amazon Prime subscription, which has since been discontinued. The move is quite upsetting for customers who are regular Amazon shoppers. Check out its two main rivals, the ICICI Bank HPCL Super Saver Credit Card and the BPCL SBI Credit Card, before you decide.

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