IndianOil Axis Bank Credit Card
Product Details
Credit Card Name :
IndianOil Axis Bank Credit Card
Bank Name :
Axis Bank
Type :
Fuel Credit Card
Interest Rate :
3.6% per month (52.86% per annum)
Eligibility :
Primary cardholder should be between the age of 18 and 70 years. Add-on cardholder should be over 15 years. The individual should either be a Resident of India or a Non-Resident Indian."
Pros
Welcome Benefit: Cardholders can earn 100% cashback on the first fuel transaction up to INR 250, within the first 30 days of card issuance.
Rewards: Cardholders can enjoy the benefit of 4% cashback on fuel transactions by earning 20 reward points per INR 100 spent any any IOCL outlet in India, and 1% cashback on online shopping by earning 5 reward points per INR 100 spent.
Other benefits: Cardholders also get 10% off at BookMyShow up to Rs. 300 per month, 10% cashback at Myntra, Uber & Zomato, up to Rs. 300 each per month, and 5 reward Points for every Rs. 100 spent online.
Cons
No complimentary lounge visit.
High cash withdrawal charges.
Low cashback rate.
Pros & Cons
Welcome Benefits
Welcome Benefit: Cardholders can earn 100% cashback on the first fuel transaction up to INR 250, within the first 30 days of card issuance.
Rewards System
Earn 20 reward point for every INR 100 spent on fuel. 1RP= 0.20 paisa. Fuel Cashback rate: 4% Earn 5 reward point for every INR 100 spent on online spends. 1RP= 0.20 paisa. Online Cashback rate: 1%.
International Forex Markup
Foreign currency transaction fee-3.5% of the transaction value.
Welcome Benefits and Reward System
Special Features
100% cashback on the first fuel transaction up to INR 250
Eligibility Criteria
Primary cardholder should be between the age of 18 and 70 years. Add-on cardholder should be over 15 years. The individual should either be a Resident of India or a Non-Resident Indian."
Benefits
Accelerated reward points on fuel purchases at Indian Oil Corporation (IOCL) fuel pumps.
Accelerated reward points on shopping expenses.
Discounts on movie ticket purchases.
Dining discounts.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
You can apply for the IndianOil Axis Bank Credit Card online or offline. Here are the steps on how to apply online:
Go to the IndianOil Axis Bank Credit Card website. Click on the "Apply Now" button.
Enter your personal details such as your name, email address, and mobile number.
Enter your income and employment details.
Upload a scanned copy of your PAN card and Aadhaar card. Select the credit limit you want. Click on the "Submit" button.
Contact Details
1860 419 5555 & 1860 500 5555
Account Opening and Procedure
Indian Oil Axis Bank Credit Card
Indian oil axis bank credit card is an average fuel credit card. It offers a low cashback rate. The non-fuel benefits are also average.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Joining fee: Rs. 500.
Annual fee -1st Year:-Nil. 2nd Year onwards: Rs. 500.
Cash withdrawal fee from ATM - 3.4% of the cash amount.
Late payment fee: charged depending on the customer’s Total amount due; ranges from Rs. 0 - 1200 .
Interest Rate: 3.4% per month (49.36% per annum).
Foreign currency transaction fee: 3.5% of the transaction value
Fuel Surcharge
1% Fuel Surcharge (It is waived upto a limit of INR 500).
Billing Cycle
30 Days