Indian Oil Axis Bank Credit Card vs Axis Bank Privilege Credit Card

Axis Bank and IOCL collaborated to launch the co-branded Indian Oil Axis Bank fuel credit card, and this entry-level credit card charges an annual fee of Rs. 500 plus taxes. The card is ideal for people who regularly spend money on fuel and offers up to 5% rewards on IOCL fuel spends and 1% on other online spends. You don’t get much travel benefits with the card like lounge access, etc. but you can get exclusive dining and movie discounts with the card.

For those who are looking for value-added shopping and travel benefits, the Axis Bank Privilege credit card offers everything you need. The card comes at a joining fee of Rs. 1500 but Priority Banking customers can get the card free of cost. As a welcome benefit, you get  up to 12,500 EDGE reward points, and other privileges like lounge access, dining, and movie discounts, a high reward rate, fuel surcharge waiver, and much more.

In this article, we will compare the features, benefits, fees, and other information related to both these cards. Read on to know more about the cards, and see which one is the better choice.

Indian Oil Axis Bank Credit Card

This co-branded fuel card issued by Axis Bank in collaboration with Indian Oil has a low joining fee of Rs. 500, and is great for those who are new to the credit scene. The card is not packed with privileges as it is an entry-level offering, but still it is great for those who regularly spend money on fuel. You can earn up to 20 RPs per Rs. 100 spent on fuel, and 5 RPs on online shopping. You also get a 1% fuel surcharge waiver at fuel stations across the country.

Features and Benefits

The following are the features and benefits offered by the Indian Oil Axis Bank credit card –

Welcome Benefits

Get 100% cashback on fuel spends, up to maximum Rs. 250, within 30 days of getting the card

Reward Earning

20 EDGE RPs per Rs. 100 spent on fuel spends at IOCL fuel outlets across the country for transactions between Rs. 100 to Rs. 5000

5 EDGE RPs per Rs. 100 spent on online shopping, and 1 RP on spends elsewhere

Reward Redemption

The EDGE reward points earned by you for your spends with the card can be redeemed against a host of choices including shopping, products/vouchers, etc. at the EDGE Rewards portal

Movie and Dining Benefits

Get 10% discount on BookMyShow movie ticket bookings

Get exclusive discount up to 15%, up to a maximum of Rs. 500, at partner restaurants with the Axis Bank EazyDiner program.

Fuel Surcharge Waiver

Get 1% fuel surcharge waiver at all fuel outlets across the country on spends between Rs. 200 to Rs. 4000

Fees and Charges

The following are the fees and charges associated with the Indian Oil Axis Bank credit card–

• The card charges a joining fee of Rs. 500 plus taxes, and the renewal fee can be waived off on spending Rs. 50,000 or more in the year
• The card charges an interest rate of 3.4% per month or 49.36% per annum
• The card charges a forex markup fee of 3.5% of the transaction amount
• The card charges a cash withdrawal fee of 2.5% of the total amount, or Rs. 500, whichever is higher

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Axis Bank Privilege Credit Card

The Axis Bank Privilege credit card comes at an annual fee of Rs. 1500 and is packed with various shopping and travel privileges for the cardholder. The reward rate on the card is decent and you can earn 10 EDGE RPs per Rs. 200 spent, along with 12,500 reward points as a welcome benefit. Moreover, you can also earn bonus 3000 reward points whenever you renew the card, and get an annual fee waiver on reaching the target spend.

Features and Benefits

The following are the features and benefits offered by the Axis Bank Privilege credit card –

Welcome Benefit

Get 12,500 reward points that can be redeemed against vouchers of various brands worth Rs. 5000. You must make 3 eligible transactions within 60 days of getting the card to claim the benefit

Milestone Benefit

On reaching annual spends of Rs. 2.5 Lakhs or more, you can convert the reward points earned by you to travel/shopping vouchers worth twice the value.

Also, you can earn 3000 bonus EDGE RPs every year upon renewing the card.

Travel Benefit

Get 2 complimentary domestic lounge access at select airports in India.

Dining Benefit

Avail up to 20% discount at over 4000 restaurants across the country with the Dining Delights program.

Fuel Surcharge Waiver

Get 1% fuel surcharge waiver on fuel spends between Rs. 400 to Rs. 4000 at fuel outlets across the country.

Fees and Charges

The following are the fees and charges associated with the card –

• The joining fee on the card is Rs. 1500 and you can get the annual fee waived off on spending Rs. 2.5 Lakhs in the card anniversary year
• The interest rate on the card is 3.4% per month
• The card charges a forex markup fee of 3.5% of the transaction amount
• The card charges a cash withdrawal fee of 2.5% of the total amount, or Rs. 500, whichever is higher

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Also Read: Indian Oil Credit Cards: A Comprehensive Comparison Guide

Indian Oil Axis Bank vs. Axis Bank Privilege Credit Card – Quick Comparison

The following table features a side-by-side comparison of both the credit cards –

Category	Indian Oil Axis Bank Credit Card	Axis Bank Privilege Credit Card
Joining/Annual Fees	Rs. 500 plus taxes	Rs. 1500 plus taxes
Welcome Benefits	100% cashback, up to maximum Rs. 250, on fuel transactions made within 30 days of getting the card	12,500 RPs as welcome benefit
Reward Earning	20 RPs per Rs. 100 spent on IOCL fuel spends 5 RPs per Rs. 100 spent on online shopping and 1 RP per Rs. 100 on other spends	10 RPs per Rs. 200 spent with the card
Reward Redemption	Reward points are redeemable against travel/shopping vouchers, products, etc.	Reward points are redeemable against a host of products, vouchers, etc.
Movie and Dining Benefits	10% discount on BookMyShow ticket bookings	Exclusive 20% discount at more than 4000 restaurants
Travel Benefits	NA	2 complimentary domestic lounge access every year
Renewal Fee Waiver	Renewal fee is waived off on spending Rs. 50,000 in the previous year	Renewal fee is waived off on spending Rs. 2.5 Lakhs in the previous year

Bottom Line

Both the Axis Bank Privilege and the Indian Oil Axis Bank credit cards are great in their own categories. If you are looking for an entry-level card, especially if you regularly make fuel spends, then the Indian Oil Axis Bank card is perfect for you. The card does not offer many travel or other lifestyle privileges, but you can earn accelerated reward points on fuel with the card.

If your budget is higher, then you can go for the Axis Bank Privilege credit card. It charges Rs. 1500 as joining fee, but it has many value-added features and benefits for the cardholder. With a high reward rate, the card offers bonus reward points as a welcome and card renewal benefit. You even get access to domestic airport lounges, dining benefits, fuel surcharge waiver, etc.

You can choose any one of the above cards for yourself, based on your needs and requirements.