Indian Oil Axis Bank Credit Card - Features, Benefits, Fees & Charges

IndianOil Axis Bank Credit Card (4.5)

Co-Branded Best For: Fuel
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What if you could earn 4% cashback on all your fuel purchases? That's exactly what the IndianOil Axis Bank Credit Card offers. In addition, you can earn 2X reward points on all your other spending, which means you can accumulate points faster and redeem them for free fuel, movie tickets, and more. Moreover, you will receive a welcome bonus of 100% cashback on fuel. If you frequently dine out, this card also provides a 15% discount on restaurants via EazyDiner, accelerated reward points on shopping, and much more, all for a joining fee of just ₹500. Keep reading to know more!

Features and Benefits

Aspects that make spending using this card lit as the sun!

Welcome Bonus
Travel
Fuel
Rewards
Shopping
Cashback
Dining
Insurance
Interest
Lounge
Welcome Bonus

100% cashback up to ₹250 on all fuel transactions.

Note: This is a one-time offer and valid only for the first 30 days of card issuance.

Shopping Benefit

1% value back on online shopping by earning 5 reward points per ₹100 spent.

Note: Transact at online merchants between ₹100 and ₹5000 to avail of the order.

Entertainment Benefit

Instant discount of up to 10% on movie ticket booking via the BookMyShow app or website.

Dining Benefit

Get up to 15% discount at the partner restaurants in India.

Note: Capped to ₹500.

Fuel Surcharge

Fuel surcharge waiver of 1% at any fuel outlet in India.

Note: The offer is available for transactions between ₹200 and ₹5000. Maximum waiver of ₹50 per statement cycle.

Reward Points
  • 20 Reward Points on every ₹100 spent at IOCL fuel outlets.
  • 5 Reward Points on every ₹100 spent on online shopping.
  • 1 EDGE Point per ₹100 on all other spends with the card.
  • Reward Rate: 0.2% to 4%
Fee and Charges

Think of these as small investments to keep your credit card running smoothly.

Charges

Joining Fee

₹500

Annual Fee

₹500

Annual Percentage Rate

52.86%

Add-on Card Fee

Free

Minimum Repayment Amount

5%

Cash Withdrawal Fee

2.5%

Cash Advance Limit

40%

Card Replacement Fee

Nil

Foreign Transaction Fee

3.50%

Over Limit Penalty

2.50%

Fuel Transaction Surcharge

1%

Reward Point Value

₹0.20
Late Payment Charges

Balance below ₹500

₹ 0

Balance from ₹501 to ₹5000

₹ 500

Balance from ₹5001 to ₹10000

₹ 750

Balance more than ₹10000

₹ 1200
Pros

Aspects that make this credit card amazing.

  1. Annual fee waived on spending more than ₹50,000 in a year.
  2. 100% cashback up to ₹250 on all fuel transactions.
  3. A surcharge waiver of 1% on fuel spends at any fuel outlet.
  4. 10% discount on a movie ticket at BookmyShow.
  5. Accelerated reward points at online shopping.
Cons

Aspects this credit card lacks.

  1. Dining benefit available on a minimum order value of ₹1500.
  2. The maximum surcharge waiver is just ₹50 per statement cycle.
  3. GST charged on fuel surcharge is non-refundable.
  4. There is an upper limit on reward points.
IndianOil Axis Bank Rating & Reviews

This is the truth, the whole truth, and nothing but the truth; brought to you by the other users.

Charges

(3.5)

Rewards

(4)

Customer Service

(4)

IndianOil Axis Bank Credit Card Review

The Axis Bank IndianOil Credit Card is a good option for frequent fuel spenders who want to earn rewards and save money on fuel purchases. The card offers a 4% surcharge waiver on fuel transactions at IndianOil outlets, which can save you a significant amount of money if you fill up your car regularly. The card also earns 20 reward points per ₹100 spent on fuel purchases, which can be redeemed for a variety of rewards, including travel, merchandise, and cash back.

IndianOil 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 below:
1. Indian Oil HDFC Bank Credit Card
2. SBI BPCL Credit Card

Overview

Best For  Fuel
Joining Fee  ₹500
Annual Fee  ₹500 (waived on ₹50,000 spend in a year)
Welcome Benefits 100% cashback up to ₹250 on all fuel transactions
Card Type  Reward Points
Card Network

 Visa and Rupay

Who should get an IndianOil Axis Bank Credit Card?

Anyone who visits an IndianOil pump very frequently can make the most of an IndianOil Axis Bank Credit Card. A user who spends ₹48,000 on fuel annually at IOCL can get a cashback of ₹1,920 along with a fuel surcharge waiver of ₹480. Similarly, if the user spends ₹36,000 on online shopping, he will get a cashback of ₹360. Further, if the user books tickets on BookMyShow worth ₹6,000 in a year, he or she gets a cashback of ₹600. So, the card is for those who use the card for multiple purposes and benefit from cashback and reward points.    

Reward Points

4% benefit on fuel transactions by earning 20 reward points per ₹100 spent at any IOCL fuel outlet in India. 

Category Reward points
(Per ₹100 spent)
Fuel Spends at IOCL 20
Online Shopping 2
EDGE Reward Point 1

How to apply for an IndianOil Axis Bank Credit Card?

Interested individuals can apply for Indian Oil Axis Bank Credit Card with just a few steps, described below:

  • Visit the official website of Axis Bank.
  • Click on “Explore Products” under the “Personal” section in the top menu.
  • Now click on “Credit Cards”.
  • Access “Apply Now” in the header image.
  • The link will take the user to the page “Credit Card Online Application”.
  • Respond “Yes” or “No” to the question, “Are you an existing Axis Bank customer?”
  • Click on “Mobile No” if the user is a new customer.
  • Fill in the details, including Mobile no., Date of birth, or PAN.
  • The user will see different options according to his or her eligibility.
  • Proceed with the suited offer and complete the application.

IndianOil Axis Bank Credit Card Eligibility

Applicants must be at least 18 years of age and have a steady source of income to be eligible for a credit card. The individual should either be a Resident of India or a Non-Resident Indian.

Documents Required

  • Proof of identity: PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI or any other government-approved photo ID proof.
  • Proof of Address: Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 months old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, or any other government approved address proof.
  • Proof of Income: Latest one or two salary slips (not more than 3 months old), latest Form 16, and the last 3 months’ bank statement.
Axis Bank Cards Issued & Spends

Keep an eye on the credit card's monthly performance through the number of cards issued and the cumulative transaction value!

Bank name:

Axis Bank

Axis Bank Credit Card Customer Care Number:

1860 419 5555 / 1860 500 5555.

Axis Bank Card Offers:

View Offers

Total Cards:

1,47,92,226
Axis Bank Credit Card News
31 May 2024, Friday
1. Migration of Citi Credit Cards to Axis Credit Cards- All You Need to Know.

As of 1 March 2023, Axis Bank has acquired all consumer banking services from Citibank, including credit cards. The full migration of Citi customers to Axis Bank is anticipated to be completed by 9 June 2024. Existing Citi cards will be substituted with new credit cards from Axis Bank. Below is a list of some of the rebranded cards:

  1. Citi Rewards will become the Axis Rewards Credit Card.

  2. IndianOil Citi Card will become the IndianOil Premium Axis Bank Credit Card.

  3. Citi PremierMiles will become the Axis Bank Horizon Credit Card.

Features of New Axis Bank Credit Cards

1. Axis Rewards Credit Card:

  • Joining/Annual Fee: Rs. 1,000 + GST
  • Welcome Benefits: 5,000 EDGE REWARDS on Rs 1,000+ spend within the first 30 days.
  • Earn up to 20 EDGE Reward Points for every Rs 125 spent.
  • 2 complimentary domestic lounge access.

2. IndianOil Premium Axis Bank Credit Card:

  • Joining/Annual Fee: Rs 1,000 + GST
  • Welcome Benefits: 500 EDGE Miles on the first transaction within 30 days.
  • Earn EDGE Miles for fuel, groceries, and other spends, redeemable at IOCL petrol pumps.
  • Quarterly complimentary domestic lounge access, Zomato discounts, and a fuel surcharge waiver.

3. Axis Bank Horizon Credit Card:

  • Joining/Annual Fee: Rs 3,000 + GST
  • Welcome Benefits: 5,000 EDGE Miles on Rs 1,000+ spent within the first 30 days.
  • Earn EDGE Miles for travel and other categories.
  • International and domestic lounge access, fuel surcharge waiver, EazyDiner discounts.

Post Migration

  • Existing rewards/miles will be converted to Axis Bank EDGE Rewards and/or EDGE Miles with unchanged monetary value.
  • Card number, CVV, annual fees, credit limit, and other details will remain the same.
  • Mandates and saved card information on merchant sites will not change.
  • EMIs and other obligations will be seamlessly transferred to the new Axis card.
13 Mar 2024, Wednesday
2. Axis Bank suspends reward redemptions for credit cards used for Business Spends

Axis Bank has suspended reward redemptions for some credit cardholders and is requesting invoices to verify travel spending. The bank believes that some cardholders are misusing reward points by using their cards for business expenses, which is against the terms of the cardholder agreement. Axis Bank says that this is a routine exercise to monitor suspicious spending, but some genuine cardholders have also been flagged. Experts recommend using separate business credit cards to avoid such problems.

29 Nov 2023, Wednesday
3. Axis Bank has announced a significant devaluation of its Vistara credit cards, effective from 3 January, 2024.

Axis Bank has announced a significant devaluation of its Vistara credit cards, effective from 3 January 2024. The main changes include:

  • No points for government and utility spending: Cardholders will no longer earn any Vistara Points on transactions made towards government dues, utility bills, and insurance premiums. These were previously high-yielding categories that contributed significantly to point accumulation.
  • Loss of monthly milestone benefit: The monthly milestone benefit of 25,000 Vistara Points will also be discontinued. This was a valuable benefit for cardholders who consistently spent a certain amount each month.
10 Oct 2023, Tuesday
4. Axis Bank and Fibe have partnered to launch India's first numberless credit card.

Axis Bank, has teamed up with Fibe (formerly EarlySalary) to introduce the country's first-ever numberless credit card tailored for the tech-savvy Generation Z demographic.

This innovative credit card offers heightened security by eliminating the conventional card number, expiry date, and CVV code typically printed on physical cards. This forward-thinking design is expected to reduce the risk of identity theft or unauthorized access to cardholders' information, ensuring the utmost in security and privacy. The card will be accessible to Fibe's extensive customer base, which exceeds 2.1 million individuals.

13 May 2023, Saturday
5. Axis Bank links Rupay credit cards with UPI.

Axis Bank has enabled linkage of RuPay Credit Cards with Unified Payments Interface (UPI). This means that Axis Bank customers can now use their RuPay Credit Cards to make payments through UPI. UPI is a real-time payment system developed by National Payments Corporation of India (NPCI). It allows users to make instant payments to any bank account in India with just a few taps on their phone.

11 Apr 2023, Tuesday
6. Axis Bank Credit Cards adds six new transfer partners to EDGE Rewards

Taking the number up to 19, Axis bank added 6 new transfer partners to its existing list. These include hotel networks Accor ALL & Wyndham Rewards, Star Alliance’s Air Canada’s Aeroplan & Thai Airways Royal Orchid Plus as well as Oneworld Alliance’s Japan Airlines JAL Mileage Bank & Qantas Frequent Flyer.

These 19 transfer partners are cumulatively a part of Axis bank’s reward program known as the EDGE Rewards.

IndianOil Axis Bank Customer Reviews

Overall Rating

5

Based on 1 reviews

Rating Summary

5
100%
4
0%
3
0%
2
0%
1
0%

Review Analytics

Fees 0 votes

Interest Rate 0 votes

Rewards 0 votes

Benefits 0 votes

Customer Service 0 votes

Frequently Asked Questions

Yes, this card also offers benefits for online shopping. In addition to being a fuel credit card, it also offers benefits for online shopping. Earn 1% back by accumulating 5 reward points for every Rs. 100 spent on online shopping. This, however, applies only to online transactions between Rs. 100 and Rs. 5,000.

There are several benefits that come with the Indian Oil Credit Card, including a welcome bonus, a fuel surcharge waiver, an annual fee waiver, reward points, dining discounts, and much more.

Cardholders must be between the ages of 18 and 70. Add-on cardholders must be at least 15 years old. The individual must be either an Indian resident or a non-resident Indian. However, Axis Bank reserves the right to decline or approve the application based on the applicant.

There are several ways to apply for the Indian Oil Axis Bank Credit Card. Online: The online application form can be completed on the bank's official website. Another option is to go to the nearest branch office and apply for a credit card by filling out and submitting an application form.

Indian Oil Axis Bank Credit Card waives 1% fuel surcharges on monthly transactions between  Rs. 200 and  Rs. 5,000. A maximum waiver of  Rs. 50 is available per statement cycle.

The IndianOil Axis Bank Credit Card is a fuel credit card that offers increased rewards or cashback on IOCL fuel purchases. This card is a good fit if your annual fuel expenses are between Rs.4,000 to Rs.5,000. Besides fuel, this credit card also provides dining discounts, movie ticket discounts, fuel surcharge waivers, an annual fee waiver, and other benefits.

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