IndianOil has 4 co-branded credit cards in the Indian credit card space today. HDFC Bank and Kotak Bank have one each while Axis Bank has two of them thanks to its acquisition of Citi India business. In this article, I will compare all the four available IndianOil co-branded credit cards today to help you decide which offers the best value for your spends.
IndianOil Axis Bank Credit Card
Joining/Annual Fee: Rs 500+GST
Welcome Benefit of 100% value back up to Rs 250. So, you do not entirely recover the joining fee for the first year.
Annual fee waiver: On spending Rs 3.5 Lakh in a membership year. But, not all spends like rent, wallet and insurance transactions are counted in this. This is the steepest annual fee waiver spend that I have seen with this reward rate.
Rewards on IOCL fuel spends: 4%
4% rewards only if you fuel for transaction amounts between Rs 400 and Rs 4000. Maximum eligible spends per calendar month is Rs 5000.
1% fuel surcharge waiver for for transaction amounts between Rs 400 and Rs 4000. Maximum waiver of Rs 50 per statement.
IndianOil HDFC Bank Credit Card
Joining/Annual Fee: Rs 500+GST
Welcome Benefit is not available
Annual fee waiver: On spending just Rs 50,000 in a membership year
Rewards on IOCL fuel spends: 4.8%
4.8% rewards only for fuel spends of up to Rs 3000 in a calendar month
1% fuel surcharge waiver for transaction amounts of minimum Rs 400. Maximum waiver of Rs 250 per statement.
IndianOil Axis Bank Premium Credit Card
Joining/Annual Fee: Rs 1000+GST
Welcome Benefit of 500 EDGE Miles
Annual fee waiver: On spending Rs 30,000 in a membership year. But, not all spends like rent, wallet and insurance transactions are counted in this.
Rewards on IOCL fuel spends: 4%
6 EDGE Miles/Rs 150 ~4% rewards on IOCL fuel spends. Maximum eligible spends per calendar month is Rs 15,000.
1% fuel surcharge waiver
Indian Oil Kotak Bank Credit Card
Joining/Annual Fee: Rs 449+GST
Welcome Benefit of 1000 RP which is equivalent to Rs 250 on redemption.
Annual fee waiver: On spending Rs 50,000 in a membership year.
Rewards on IOCL fuel spends: 4%
Maximum eligible spends per calendar month is Rs 7500.
1% fuel surcharge waiver on transactions between Rs 100 and Rs 5000. Maximum fuel surcharge waiver of Rs 100 per statement cycle.
IndianOil RBL Bank XTRA Credit Card
Joining/Annual Fee: Rs 1500+GST
Welcome Benefit of 3000 RP which is equivalent to Rs 1500 on redemption.
Annual fee waiver: On spending Rs 2.75 Lakh in a membership year.
Rewards on IOCL fuel spends: 7.5%
Maximum eligible spends per calendar month is Rs 13,333.
1% fuel surcharge waiver on transactions between Rs 500 and Rs 4000. Maximum fuel surcharge waiver of Rs 200 per calendar month.
IndianOil RBL Bank Credit Card
Joining/Annual Fee: Rs 500+GST
Welcome Benefit of 1000 RP which is equivalent to Rs 500 on redemption.
Annual fee waiver: On spending Rs 1.75 Lakh in a membership year.
Rewards on IOCL fuel spends: 5%
Maximum eligible spends per calendar month is Rs 10,000.
1% fuel surcharge waiver on transactions between Rs 500 and Rs 4000. Maximum fuel surcharge waiver of Rs 100 per calendar month.
Check next post to see the comparison table between all these cards.
If your fuel needs are well above 5K, then consider going for IndianOil Premium (migrated from Citi bank) or RBL XTRA. My needs have grown and I'm also looking to close IOCL RuPay and opt for IOCL Premium.
If your fuel needs are well above 5K, then consider going for IndianOil Premium (migrated from Citi bank) or RBL XTRA. My needs have grown and I'm also looking to close IOCL RuPay and opt for IOCL Premium.
No I am specifically looking only for Axis IOCL and not premium one. Axis IOCL is better for those who have Magnus Bugundy CC due to better conversion to airmiles / hotel points. Premium does not.
For spends above 5k / month, there are other options such as IOCL vouchers using SBI CB and HP pay using ICICI fastag via Apay
No I am specifically looking only for Axis IOCL and not premium one. Axis IOCL is better for those who have Magnus Bugundy CC due to better conversion to airmiles / hotel points. Premium does not.
For spends above 5k / month, there are other options such as IOCL vouchers using SBI CB and HP pay using ICICI fastag via Apay
Axis IOCL redemption ratio is 20:1 for Edge Rewards:Miles. Magnus Burgundy is super premium and would have great ratio unlike Axis IOCL. I have no idea about MB's ratio. Would love to know more. The best I hold is Axis Atlas for accumulating miles.
Axis IOCL premium card's website says - Annual Fee Waiver Spends as INR 30,000 - You have stated 1.0L. Which one is correct? Appreciate if you could please help.
Axis IOCL premium card's website says - Annual Fee Waiver Spends as INR 30,000 - You have stated 1.0L. Which one is correct? Appreciate if you could please help.
