Axis IOCL Rupay Credit Card: Your Ultimate Fuel Savings Partner
If you are someone who drives regularly and fills up at Indian Oil Corporation Limited (IOCL) stations, the Axis IOCL Rupay Credit Card could be the perfect addition to your wallet. Designed to provide incredible savings on fuel purchases, this card offers excellent rewards and benefits for both fuel and everyday spending.
In this blog post, we’ll dive deep into the features of the Axis IOCL Rupay Credit Card, how to maximize its rewards, its benefits and limitations, and who should consider applying for it. Let’s explore everything you need to know about this card and how it can help you save money.
Table of Contents
Key Features of the Axis IOCL Rupay Credit Card
The Axis IOCL Rupay Credit Card comes with a variety of fuel-related benefits and rewards that can help you save on every refuel. Here’s a closer look at the features:
1. Reward Points on Fuel Purchases
Earn 4 reward points for every ₹150 spent on fuel at Indian Oil outlets. This is a great way to accumulate points quickly for your fuel expenses.
2. Cashback on Fuel Purchases
In addition to earning reward points, you also get cashback on fuel transactions, making it even more rewarding for regular fuel users.
3. Fuel Surcharge Waiver
Enjoy a fuel surcharge waiver on transactions between ₹400 and ₹5,000, which makes your fuel purchases even more economical.
4. Reward Points on Non-Fuel Purchases
Earn 1 reward point for every ₹150 spent on non-fuel purchases. This ensures you get rewards not only for fuel, but for other shopping and lifestyle expenses too.
5. Welcome Benefits
Get exclusive welcome benefits, which could include bonus reward points or vouchers upon signing up and making your first purchase.
Feature | Benefit |
Fuel Rewards | 4 points for every ₹150 spent on fuel at IOCL stations |
Fuel Surcharge Waiver | Waiver on transactions between ₹400 and ₹5,000 |
Non-Fuel Purchases | 1 point for every ₹150 spent on non-fuel purchases |
Cashback | Cashback on fuel transactions |
Welcome Benefits | Bonus points or vouchers for new cardholders |
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How to Maximize Rewards with Axis IOCL Rupay Credit Card
Maximizing your rewards with the Axis IOCL Rupay Credit Card requires smart usage. Here are some tips to make the most of the fuel-related and non-fuel benefits:
1. Use Your Card for Regular Fuel Purchases
To get the maximum rewards, make sure to use your Axis IOCL Rupay Credit Card exclusively for fuel purchases at IOCL stations. This will ensure you earn 4 reward points for every ₹150 spent on fuel.
2. Take Advantage of the Surcharge Waiver
By making fuel purchases between ₹400 and ₹5,000 at IOCL, you can avail of the fuel surcharge waiver. This is an excellent way to further reduce your overall fuel costs.
3. Use the Card for Other Purchases
Even when you’re not refueling, the Axis IOCL Rupay Credit Card allows you to earn 1 point for every ₹150 spent on everyday purchases such as groceries, dining, or shopping. This ensures your card continues to provide value even when not used for fuel.
4. Redeem Reward Points for Discounts on Fuel
Your accumulated reward points can be redeemed for fuel vouchers or discounts on fuel, making it easy to save on your next visit to an IOCL station.
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Fees and Charges of Axis IOCL Rupay Credit Card
While the Axis IOCL Rupay Credit Card provides exceptional value, it's important to be aware of the associated fees and charges:
1. Annual Fee
The annual fee for this credit card is ₹500, which is relatively affordable for the benefits offered.
2. Interest Rate
The interest rate on outstanding balances is 3.4% per month (or 40.8% annually), so it’s crucial to pay off your balance every month to avoid paying interest charges.
3. Late Payment Fee
A late payment fee will be levied if you miss your payment, ranging from ₹100 to ₹1,000 depending on the outstanding balance.
4. Cash Advance Fee
For cash advances, a fee of 2.5% of the withdrawn amount is charged, with a minimum fee of ₹300.
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Pros and Cons of the Axis IOCL Rupay Credit Card
To help you decide if this card is the right fit, let’s weigh its pros and cons:
Pros
Fuel Rewards: Earn 4 reward points for every ₹150 spent on fuel.
Cashback on Fuel: Get cashback on fuel transactions in addition to reward points.
Surcharge Waiver: Waiver on fuel transactions between ₹400 and ₹5,000.
Affordable Annual Fee: The ₹500 annual fee is quite low for the benefits offered.
Cons
Limited Rewards on Non-Fuel Purchases: Only 1 reward point for every ₹150 spent on non-fuel purchases, which may not be as attractive compared to other cards.
High Interest Rate: If you carry a balance, the interest rate can be high, at 40.8% annually.
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Who Should Apply for the Axis IOCL Rupay Credit Card?
The Axis IOCL Rupay Credit Card is ideal for:
1. Regular Fuel Users
If you frequently fill up at IOCL stations, this card will allow you to earn rewards, cashback, and enjoy a surcharge waiver, making it the perfect companion for your fuel expenses.
2. Budget-Conscious Shoppers
With its low annual fee and high rewards for fuel purchases, this card is a great option for those looking to save on fuel costs without paying hefty fees.
3. Frequent Drivers
Those who rely on their vehicles for commuting or travel will benefit from the fuel-focused rewards and surcharge waivers offered by the card.
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Frequently Asked Questions
1. How can I earn rewards with the Axis IOCL Rupay Credit Card?
You earn 4 reward points for every ₹150 spent on fuel at IOCL stations and 1 point for every ₹150 spent on other purchases.
2. Is there a fuel surcharge waiver with the Axis IOCL Rupay Credit Card?
Yes, the card offers a fuel surcharge waiver for transactions between ₹400 and ₹5,000 at IOCL outlets.
3. What is the annual fee for the Axis IOCL Rupay Credit Card?
The annual fee for the Axis IOCL Rupay Credit Card is ₹500.
4. How do I redeem reward points?
You can redeem your reward points for fuel vouchers or discounts on fuel at IOCL stations.
Conclusion
The Axis IOCL Rupay Credit Card is an outstanding option for anyone who regularly refuels at IOCL stations or wants to earn rewards on fuel and other daily purchases. With fuel rewards, cashback offers, and a surcharge waiver, it provides tangible value. Its low annual fee and practical benefits make it an ideal choice for frequent drivers and budget-conscious shoppers.
To apply for the Axis IOCL Rupay Credit Card and start saving on fuel, visit the official Axis IOCL Rupay Credit Card page.
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