Comparison Between IndianOil Fuel Credit Cards 2024

Indian Oil Corporation Limited is an Indian flagship national oil company in the petroleum sector. This well-renowned company is an Indian central public sector company and the largest commercial oil company that has partnered with many top banks in the country, like Axis Bank, Kotak Bank, and HDFC Bank.

These co-brandings made obvious impacts on the way payments were made. You can link all of these credit cards to the UPI application of your choice and make easy payments. Apart from this, these credit cards are money savers for those who travel a lot and have continuous refills.

All these banks are top-notch card issuers and rank amongst the most prestigious banks in the country. These credit cards’ primary focus is fuel, but they also provide you with a lot of other benefits from their respective banks. The added benefits can include accelerated reward points, online and offline discounts, movie and dining offers, gift vouchers, and more. There are many other co-branded fuel credit cards, but in this particular article, we will only follow IOCL-co-branded credit cards.

Quick Comparison of Different IndianOil Credit Cards

Here is a quick comparison of all of the credit cards issued by different banks collaborating with IndianOil Corp. Ltd.

Basis	IndianOil HDFC Bank Credit Card	Indian Oil Axis Bank RuPay Credit Card	Indian Oil Kotak Credit Card
Joining/Renewal Fee	Rs. 500 + GST	Rs. 500 + GST	Rs. 449 + GST
Welcome Benefit	N/A	100% cash back of up to Rs. 250 on all of your fuel transactions within the first 30 days of the card issuance	1000 reward points as a welcome gift
Reward Redemption rate	1 FP = 96 Paise	1 RP = 0.20 Rs	1 RP = 0.25 RP
Reward Points	5% accelerated fuel points on spending at IndianOil fuel stations. 5% accelerated fuel points on spending on your groceries and bill payments as fuel points.	4% value back on your fuel transactions by earning 20 reward points on every Rs.100 spent at IOCL fuel stations. 1% value back on online shopping by earning 5 reward points on every Rs. 100 spent.	You earn 24 reward points (4%) for every Rs.150 spent on fuel, and you can earn a maximum of 1200 reward points per month. You earn 12 reward points (2%) on spending every Rs. 150 on dining and grocery, and you can also earn a maximum of 800 reward points every month.
Movies	N/A	At BookMyShow, you get an instant discount of up to 10% on your movie tickets	N/A
Rewards Redemption Fee	Rs. 99	Nil	Nil
UPI Enabled	Yes	Yes	Yes

Indian Oil Co-Branded Credit Cards

As stated above, we are going to look into credit cards in collaboration with the IOCL. These elaborated credit card details and their comparison will help you find the best fit for you. Cards from different issuers tend to have a lot of differences, but when they are collaborated with the same company, there are some similarities and some differences. Although the objective of all of the cards is the same, the benefits have changed. Here is a detailed comparison of all of the cards liked with IOCL –

IndianOil HDFC Bank Credit Card

HDFC Bank issues this credit card in collaboration with the IndianOil Corp. Ltd. IndianOil HDFC Bank Credit Card is very generous when it comes to its reward rates. The reward type for this card is fuel points, which can help you get free fuel. With these reward points, you can get up to 50 liters of free fuel annually.

This card also gets you a number of reward points, which you can then redeem at a very good rate, i.e., 1FP = Rs. 0.96. The joining fee for this card is Rs. 500 only.

This card has many benefits, with movies and dining, amazing reward rates and redemption, and other added rewards in miscellaneous purchases. These benefits are as follows –

Reward points

• You are eligible to get up to 5% accelerated fuel points on spending at IndianOil fuel stations, and you can only get a maximum of 250 fuel points every month in the first 6 months, and in the later six months, you can get up to 150 fuel points per month from 7th
• You can also earn up to 5% accelerated fuel points on spending on your groceries and bill payments as fuel points, and you can earn up to 100 fuel points per month in every category.
• You can also avail of 1 fuel point on every Rs. 150 spent on all the other categories.
• You will get up to 5% accelerated fuel points only for fuel transactions made at IndianOil retail outlets.
• On the other outlets, you will only earn 1% fuel point for every Rs. 150 spent.
• Your fuel points are valid for 2 years from the day of its accrual.

Fuel Surcharge Waiver

• You can get a 1% fuel surcharge waiver on all the fuel stations in the country.
• This offer is valid for up to a minimum transaction of Rs. 400.
• On every statement cycle, you can get a maximum of Rs. 250 cashback.

Annual Fee Waiver

If you reach a milestone expenditure of Rs. 50,000 or more in your first year, your renewal membership fee will be waived.

IndianOil AXIS Bank Credit Card

IndianOil AXIS Bank Credit Card is issued by AXIS Bank with the sole purpose of providing great saving opportunities to its customers. It is a basic entry-level credit card that is bound to provide for your fuel needs and can help you save on your utility and grocery bills as well. This credit card has one of the most decent reward programs on the market. You get discounted rates at dining and movies with the joining fee of just Rs. 500 plus applicable charges. Apart from fuel, this card also gives you rewards on every other miscellaneous purchase.

There are many more benefits of the IndianOil AXIS Bank Credit Card than just a fuel surcharge waiver. These other benefits are as follows –

Welcome Bonus

With this credit card, you can earn 100% cash back of up to Rs. 250 on all of your fuel transactions within the first 30 days of the card issuance.

Reward Points

• You can enjoy the benefit of up to 4% value back on your fuel transactions by earning 20 reward points on every Rs.100 spent at IOCL fuel stations across the country.
• You can avail of this offer at any IOCL fuel station with transactions between Rs. 100 to Rs. 5,000 per month.
• You can also enjoy up to 1% value back on online shopping by earning 5 reward points on every Rs. 100 spent.
• You can avail of this offer with online merchant transactions ranging from Rs. 100 to Rs. 5,000.
• You can also earn 1EDGE REWARD point on every Rs. 100 spent with your IndianOil AXIS Bank Credit Card.

Fuel Surcharge Waiver

• You get a 1% fuel surcharge with an IndianOil AXIS Bank Credit Card.
• You can avail of this offer with the expenditure of Rs. 100 to Rs. 5,000 at any fuel station.
• The maximum you can get on every statement cycle is Rs. 50.

Spend-Based Waiver

Your annual fee can be waived if you spend more than Rs. 50,000 in the previous year.

Movies

BookMyShow gets you an instant discount of up to 10% on your movie tickets booked via its application or website.

This card is not just well suited for fuel, but you can explore, spend, and earn a lot with this well-equipped credit card. This credit card gives you discounts and rewards for your daily living expenses and helps you build financial stability.

Indian Oil Kotak Credit Card

The Indian Oil Kotak Credit Card is a great entry-level credit card with exciting fuel benefits. You also have a chance to travel to your dream destinations as well without worrying about fuel prices. At a decent annual fee of Rs. 449 plus applicable taxes, you can get rewarded for your expenditures on grocery and dining along with accelerated reward points on Indian Oil Fuel spends. The reward points earned with this credit card can be redeemed as cashback as an introductory offer, against products or vouchers at the Kotak bank website catalog, or can be converted to XTRA REWARDS points.

This credit card can reward you with free fuel every year, along with a hoard of benefits. The benefits provided by this card are as follows –

Welcome bonus

• You get 1000 reward points as a welcome gift upon spending over Rs. 500 within the initial 30 days of the card issuance.
• One must pay the joining fee of the card to avail of this benefit.

Reward Points

• You earn up to 24 reward points (4%) on every Rs.150 spent on fuel, and you can earn a maximum of 1200 reward points per month.
• You earn 12 reward points (2%) on spending every Rs. 150 on dining and grocery, and you can also earn a maximum of 800 reward points every month.
• You can get 0.5% as reward points on all the other miscellaneous expenses, i.e., you will earn 3 reward points upon spending every Rs. 150, and there is no maximum cap on this offer.
• You can redeem your reward points against the product in Kotak’s catalog.
• You can redeem your reward points through merchandise, products, travel and gift vouchers, mobile recharge, etc.

Fuel Surcharge Waiver

• You get a 1% fuel surcharge waiver on fuel transactions between Rs. 100 and Rs. 5,000
• The maximum benefit that you can avail of every month with this offer is Rs. 100.

Spend-Based waiver

The annual fee will be waived if the previous year’s expenditure goes over Rs. 50,000

Dining Delights

You earn 12 reward points on spending Rs. 150 on dining, i.e., you earn 2% back as reward points on all of your dining expenses.

For those who travel a lot with their vehicles and have to refuel them constantly, this card can be a great choice. This card gives you a card on your every purchase, whether it be fuel or any other. You can use these reward points to purchase other things that you like.

Bottom Line

All these credit card issuers are top-notch brands in the country as of today. All of them are different and have their features and factors that make them different from one another. However, these cards are issued by financial institutions for the sole purpose of convenience to their customers. You need to make sure that the features and benefits your card provides are something that will help you with your expenses. This will help you in managing your finances more efficiently.

Every credit card issuer gives something different, which might or might not be your need. Which makes one of the cards most suitable for you? You can check the details mentioned above about all of the credit cards related to the IOCL issued by financial institutions and make your decision wisely.