Axis Bank IndianOil Credit Card Review
Author And Publisher: Gyro 3.oAxis Bank IndianOil Credit Card
Financial Expert Advice
Choose Your First (or Next) Credit Card Wisely
Maintain Two Credit Cards: One For Routine Expenses And Auto-Debits, And Another Reserved For Emergencies. Avoid Pursuing Rewards; Prioritize Financial Stability And Discipline.
Axis Bank IndianOil Credit Card Review
"Fuel rewards, every trip"
Introduction
The Axis Bank IndianOil Credit Card is a co-branded fuel credit card, ideal for individuals who frequently refuel at IndianOil (IOCL) outlets and want to maximize savings on fuel as well as online shopping. With a low annual fee, accelerated rewards on fuel and online spends, and practical benefits like fuel surcharge waiver and dining discounts, this card is a smart choice for regular commuters and digital shoppers, Here’s a detailed review to help you decide if this card is right for you.
Key Features and Benefits
Welcome Benefits
- Up to 1,250 EDGE REWARD points (worth ₹250) credited for your first fuel transaction within 30 days of card issuance.
- No joining fee for add-on cards.
Reward Structure
- IndianOil Fuel: Earn 4% back (20 points per ₹100) at IndianOil outlets, capped at ₹5,000 in fuel spends monthly. Earn 4% back (20 points per ₹100) at IndianOil outlets, capped at ₹5,000 in fuel spends monthly.
- Online Shopping: Get 1% back (5 points per ₹100) on online purchases between ₹100 and ₹5,000, with a ₹5,000 monthly cap. Get 1% back (5 points per ₹100) on online purchases between ₹100 and ₹5,000, with a ₹5,000 monthly cap.
- Other Spends: Earn 1 point per ₹100 on all other eligible spending, with no monthly cap. Earn 1 point per ₹100 on all other eligible spending, with no monthly cap.
- Exclusions: No rewards on insurance, gold/jewelry, wallet loads, rent, utilities, government, or education spends.
Dining Benefits
Up to 15% off (max ₹500) at partner restaurants via EazyDiner, once per month (min order ₹2,500).
Milestone Benefits
No specific milestone rewards, but annual fee is waived on spends above ₹3.5 lakh per year.
Entertainment and perks
- Get instant discount upto 10% on your movie ticket booked via Bookmyshow app or website.
- You need to apply necessary offer from the offers section of Bookmyshow website or app
Fuel Surcharge Waiver
- 1% waiver on fuel transactions between ₹400–₹4,000 at any fuel outlet in India, capped at ₹50 per statement cycle.
- Free yourself from paying fuel surcharge waiver of 1%*.
Annual Fee
Joining fee: ₹500.
Annual fee: Nil for the first year, ₹500 from the second year (waived on annual spends of ₹3.5 lakh or more).
Add-on card fee: Nil.
Card Essential
Rewards and Benefits Analysis
The IndianOil Axis Bank Credit Card is a strong entry-level card for fuel spends, delivering 4% value back at IndianOil outlets—one of the best in the segment. The 1% reward on online shopping and welcome benefits add to its appeal for digital shoppers. The annual fee is easily offset by the rewards and fuel surcharge waiver for regular users.
Practical Considerations
- Best for Regular commuters who refuel at IndianOil outlets and those who shop online.
- Monthly caps on fuel and online shopping rewards may limit high spenders.
- No lounge access or travel insurance.
- Annual fee waiver requires substantial annual spends.
Redemption Options
- EDGE REWARD points can be redeemed for vouchers, merchandise, and more via the Axis Bank EDGE REWARDS catalogue.
- Redemption fee of ₹99 per transaction applies.
- Points have a defined validity; check terms for expiry.
Ideal User Profile
- Frequent users of IndianOil fuel outlets.
- Individuals seeking a low-fee, high-value fuel credit card with practical lifestyle perks.
Final Thoughts
The Axis Bank IndianOil Credit Card is a compelling choice for anyone who wants to save on fuel and online shopping. Its low annual fee, strong fuel rewards, and practical dining and movie discounts make it an excellent entry-level card for commuters and digital shoppers. While it lacks premium travel perks, its value proposition is hard to beat for its target audience.
Additional Tips for Potential Applicants
- Use the card for all IndianOil fuel purchases and online shopping to maximize rewards.
- Monitor monthly caps on fuel and online shopping rewards.
- Take advantage of the welcome benefit and ongoing dining/movie offers.
- Plan your annual spends to qualify for the annual fee waiver.
CDMS EXPERT ADVICE
The Axis Bank IndianOil Credit Card is ideal for regular commuters looking to maximize fuel savings and enjoy practical rewards on online shopping. Stay mindful of monthly caps and plan spends strategically to waive the annual fee. For managing credit responsibly or if repayment issues arise,
seek expert advice from CDMS at Cashon.cards to maintain financial health and discipline.
- This review provides a balanced view of the card's strengths and weaknesses, helping readers make informed decisions about whether the Axis Bank IndianOil Credit Card aligns with their
spending habits and financial goals.
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