Indian Oil Axis Bank Credit Card Review

By | May 24, 2021

Axis bank has launched another co-branded credit card. This time it has collaborated with Indian Oil To give Indian Oil Axis Bank Credit Card with Visa powers.

The card is designed to give rewards on fuel spend and other spends as well. Now check what is offered here.

Indian Oil Axis Bank Credit Card

Fees

Particular Description
Joining feesRs.500+Tax
Annual feesRs.500

* Renewal fee waived off on spending Rs.50,000 in a year

Benefits

Indian Oil Axis Bank Credit Card benefits
  • Welcome Gift: 100% cashback up to Rs.250 on all fuel transactions in the first 30 days.
  • BookMyShow: Up to 10% discount on booking tickets with the BookMyShow app or website.
  • Dining Delight: 20% discount at selected dining restaurants.

Eligibility

  • Age: 18 years – 60 years
  • Occupation: Available for both self-employed as well as a salaried individual

The monetary requirement for the card has nowhere mentioned which means you have first to fill the application form for the card, after which the bank will connect you for further proceedings.

How To Apply?

Indian Oil Axis Bank Credit Card how to apply

Apply for the card in the following manner:

  1. You have to visit the Axis Bank website or nearby the Axis Bank branch to apply for the card.
  2. Fill up all the information to apply for the card
  3. Submit all the necessary documents required for the credit card

Also Read


Documents Required

  • Identity Proof: PAN Card, Aadhar Card, Voter’s ID Card, Driving License, Ration Card
  • Address Proof: Aadhar card, Voter’s ID, Ration Card, Electricity Bill, Lease/Rent Agreement, Utility Bills
  • Income Proof: Salary Slip of last 6 months
    • Bank Statement of last 6 months
    • ITR of an annual year

Rewards

Indian Oil Axis Bank Credit Card rewards
  • 1 EDGE REWARD point on spending every RS.100 through credit card
  • 4% cashback on fuel transactions and 20 reward points on spending every Rs.100 at Indian Oil fuel stations.
  • 1% cashback and 5 reward points on spending Rs.100 on online shopping.

4% return on fuel spend fantastic, which means if you spend a max. of Rs.5000 every month on fuel, you will get Rs.200 every month as cashback. Along with this, you will get 1000 reward points.

Our Suggestion

This is a fuel card which has designed to give maximum returns on fuel spends. It comes with a low joining/annual fee.

4% cashback on making transaction at Indian Oil.

This card is best for those who use their vehicle to travel or for a travel service provider. The travel service providers can earn good rewards by using this card to purchase fuel from Indian Oil.

Features

Indian Oil Axis Bank Credit Card features
  • Fuel Surcharge Waiver: 1% fuel surcharge on the transaction between Rs.200-Rs.5000 in a month
  • Lounge Access: Nil
  • Interest Rate: 3.50% per month

Strength-Weakness

StrengthWeakness
10% discount on BookMyShowNo lounge access
4% cashback at Indian Oil

Bottom Line

That is a sound card with a decent reward rate of 4% on fuel spends. Not only this card gives cash back, but it also gives reward points on fuel spends.

Although returns on online shopping are quite low, it is good as compared to other beginner cards. Also, it gives a basic reward for all other spends.

Hence we can say it is a nice beginner card and you can apply for it if you spend more on fuel.


FAQs

What is Axis Bank India Oil Credit Card?

Indian Oil Axis Bank is a fuel credit card that gives a 4% return on fuel transactions.

What is the fees of Indian Oil credit card?

The joining fee for Indian Oil credit card is Rs.500+taxes

How much could be the foreign currency markup on an Indian Oil card?

Foreign currency markup should be 3.50%

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