Axis Bank Indian Oil Credit Card: Maximize Rewards on Fuel and Everyday Purchases
The Axis Bank Indian Oil Credit Card is a specialized credit card designed to cater to the needs of fuel users and anyone looking to maximize rewards on their regular expenses. Whether you're filling up your car at the gas station or making purchases for daily needs, this card offers exceptional value through its rewards program.
In this blog post, we will dive deep into the features, benefits, and how you can use the Axis Bank Indian Oil Credit Card to make the most of your spends. We'll also look at its fees, the pros and cons, and who should consider applying for this credit card.
Table of Contents
Key Features of the Axis Bank Indian Oil Credit Card
The Axis Bank Indian Oil Credit Card comes packed with benefits tailored specifically for fuel enthusiasts, frequent travelers, and anyone who likes earning rewards. Here’s a closer look at its key features:
1. Fuel Surcharge Waiver
Fuel Surcharge: Get a fuel surcharge waiver on fuel transactions made at Indian Oil outlets.
Applicable on Transactions: Waiver available on fuel transactions between ₹400 to ₹5,000 at Indian Oil stations.
2. Reward Points on Fuel Purchases
4 reward points for every ₹150 spent on fuel purchases at Indian Oil stations. This helps you accumulate points quickly and redeem them for exciting rewards.
3. Reward Points on Other Spends
1 reward point for every ₹150 spent on other categories, ensuring you earn points not only on fuel but on your regular daily purchases too.
4. Exclusive Discounts on Fuel
The Axis Bank Indian Oil Credit Card offers exclusive discounts on fuel prices when using the card, providing savings on every refuel.
5. Benefits on Indian Oil Products and Services
Receive special offers on Indian Oil products and services, from fuel to lubricants and other automotive services.
Feature | Benefit |
Fuel Rewards | 4 points for every ₹150 spent on fuel at Indian Oil stations |
Fuel Surcharge Waiver | Waiver on fuel purchases between ₹400 and ₹5,000 |
Other Purchases | 1 point for every ₹150 spent on non-fuel categories |
Exclusive Discounts | Discounts on fuel and Indian Oil products/services |
Welcome Benefits | Special welcome bonus points and vouchers |
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How to Maximize Rewards on Fuel
The Axis Bank Indian Oil Credit Card is optimized for maximizing rewards on fuel expenses. Here’s how you can make the most of the fuel-related benefits:
1. Use the Card Exclusively for Fuel
To earn 4 reward points for every ₹150 spent, use your Axis Bank Indian Oil Credit Card at Indian Oil petrol stations for fuel purchases. This ensures you maximize your reward points with every refuel.
2. Take Advantage of Fuel Surcharge Waiver
Since the card waives the fuel surcharge on transactions between ₹400 and ₹5,000, make sure to plan your fuel purchases within this range to avoid extra charges.
3. Use the Card for Routine Purchases
Even though the fuel benefits are the primary selling point, don’t forget to use the Axis Bank Indian Oil Credit Card for other everyday purchases. You’ll still earn 1 point for every ₹150 spent on categories like groceries, dining, and entertainment.
4. Redeem Your Points for Fuel
The reward points accumulated can be redeemed for fuel vouchers at Indian Oil outlets, further enhancing your savings on fuel costs.
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Axis Bank Indian Oil Credit Card Fees and Charges
Before applying for the Axis Bank Indian Oil Credit Card, it’s essential to be aware of the associated fees. Here’s a breakdown of the card’s fees and charges:
1. Annual Fee
The annual fee for the Axis Bank Indian Oil Credit Card is ₹500.
2. Interest Rate
The interest rate charged on outstanding dues is 3.4% per month (or 40.8% annually), so it’s important to pay off your balance in full each month.
3. Late Payment Fee
If you miss your payment, you’ll incur a late payment fee ranging from ₹100 to ₹1,000, depending on the outstanding balance.
4. Cash Advance Fee
For cash advances, there’s a fee of 2.5% of the withdrawn amount, with a minimum fee of ₹300.
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Pros and Cons of the Axis Bank Indian Oil Credit Card
To help you decide if this card is the right fit, let’s explore the pros and cons.
Pros
Great rewards on fuel: Earn 4 points per ₹150 spent on fuel purchases.
Fuel surcharge waiver: No surcharge on fuel transactions between ₹400 and ₹5,000 at Indian Oil stations.
Discounts on Indian Oil services: Access to special offers on Indian Oil products, including fuel and lubricants.
Low annual fee: The annual fee of ₹500 is relatively affordable compared to other credit cards.
Cons
Limited reward points on non-fuel purchases: You only earn 1 point for every ₹150 spent on non-fuel categories, which is not as rewarding as the fuel benefits.
Interest charges: If you carry a balance, the interest rate of 3.4% per month can be high.
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Who Should Consider the Axis Bank Indian Oil Credit Card?
The Axis Bank Indian Oil Credit Card is ideal for:
1. Regular Fuel Users
If you regularly fuel up at Indian Oil stations, this card provides exceptional value with fuel rewards and surcharge waivers.
2. Budget-Conscious Shoppers
With a low annual fee and ongoing fuel savings, this card is a great option for those looking to maximize rewards without spending much.
3. Car Owners and Drivers
Those who frequently use their car for daily commutes or road trips can enjoy consistent fuel-related benefits and rewards.
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Frequently Asked Questions
1. How can I earn reward points with the Axis Bank Indian Oil Credit Card?
You earn 4 reward points for every ₹150 spent on fuel at Indian Oil stations and 1 point for every ₹150 spent on other purchases.
2. Is there a fuel surcharge waiver on the card?
Yes, the Axis Bank Indian Oil Credit Card offers a fuel surcharge waiver on transactions between ₹400 and ₹5,000 at Indian Oil outlets.
3. How do I redeem my reward points?
Points can be redeemed for fuel vouchers or for a variety of other rewards through Axis Bank’s reward catalog.
4. What is the annual fee for the Axis Bank Indian Oil Credit Card?
The annual fee is ₹500 for the Axis Bank Indian Oil Credit Card.
Conclusion
The Axis Bank Indian Oil Credit Card is an excellent choice for individuals who regularly fuel up at Indian Oil stations or are looking to make the most of their fuel-related expenses. With generous rewards, a surcharge waiver, and special offers on Indian Oil products, it provides tangible value for both fuel and non-fuel purchases.
If you’re a frequent driver or want to earn rewards while saving on fuel costs, the Axis Bank Indian Oil Credit Card could be your perfect match. To apply and get more details, visit the official Axis Bank Indian Oil Credit Card page.
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