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People travel a lot, especially for their jobs and everyday work and habits. Travelling daily can be physically tiring and financially draining. Tools like fuel credit cards in India exist to help ease this situation. Cards like Indian Oil Axis Bank RuPay Credit Card, and Indian Oil HDFC Bank Credit Card are two best examples of such cards. The two banks, Axis and HDFC, co-branded with Indian Oil Corporation Limited (IOCL). Indian Oil is a well-known brand in the fuel market of this country. Having such a card can be considered a good deal for anyone. Both these credit cards can be regarded as beginner’s level cards and can provide you great help if you travel a lot.
Apart from the fuel, there are many other types of benefits provided by these tools. Such advantages can include rewards, cashback in some categories, movies and dining, reward redemption, etc. There are many other added features that we can look into. Both these cards are great, but to find the right fit for yourself, a thorough search would be needed.
Indian Oil Axis Bank RuPay Credit Card
The Indian Oil Axis Bank RuPay Credit Card is an entry-level credit card that comes with a joining fee of Rs. 500 plus taxes. Since it is a fuel credit card, the intriguing benefits of fuel are great, and the reward system for others is also pretty decent. Although there are not too many additional features, there are still more than enough for daily life.
Features and Benefits
Welcome :
100% cashback of up to Rs. 250 on the first fuel transaction within the initial 30 days of activation.
Rewards :
- 20 EDGE Points on every Rs. 100 spent on all fuel purchases at IOCL stations.
- 5 EDGE Points on every Rs. 100 spent on online shopping.
- For both categories, the transaction should be between Rs. 100 to Rs. 5,000.
- 1 EDGE point upon every Rs. 100 spent miscellaneously.
- Accumulated rewards can be redeemed against a variety of shopping/travel vouchers or product purchases from the bank’s catalogue.
Movie and Dining :
- 10% discount on movie tickets from BookMyShow.
- Up to 15% off (max capped at Rs. 500) on dining bills at partnered restaurants.
Spend Based Waiver :
Renewal fee waived upon spending more than Rs. 50,000 in a year.
Fuel :
1% fuel surcharge waiver at all fuel stations for transactions between Rs. 200 and Rs. 5,000.
Fees and Charges :
- Joining Fee/ renewal Fee = Rs. 500 + GST.
- Interest Rates = 3.4% per month or 49.36% per annum.
- Foreign Currency Markup = 3.5% of the transaction amount.
- Cash Advance Fee = 3.4% of the total transaction amount or a minimum of Rs. 500.
The Indian Oil Axis Bank RuPay Credit Card provides a decent amount of benefits for an entry-level fuel credit card. One of the best parts of this credit card is that you get rewards in categories except for fuel and movies, and dining makes it better.
Indian Oil HDFC Bank Credit Card
The Indian Oil HDFC Bank Credit Card is a card with fuel points as rewards, which can be further used in the purchase of fuel. With this credit card, you get an additional complimentary membership of the Indian Oil XTRAREWARDS Program (IXRP), enabling you to redeem your points at a reasonable rate. There are other features of this credit card that are surprisingly fair for an entry-level card.
Features and Benefits
Rewards :
- 5% of the transaction as fuel points at Indian oil outlets, groceries, and bill payments. (max capped at 250/month for the first six months and 150 after it).
- 1 Fuel Point upon every Rs. 150 spent on other fuel stations.
- 1 Fuel Point upon every Rs. 150 spent on other purchases.
- Fuel points expire in 2 years.
- Rewards can be redeemed against a variety of options from three methods-
- Indian Oil XTRAREWARDS Program (IXRP) 1 Fuel Points = Rs. 0.96
- Through Product Catalogue 1 FP = Rs. 0.20
- Against Cash Statement 1 FP = Rs. 0.20
Movies and Dining :
You get to save 2.5% on your dining bills.
Spend Based Waiver :
Upon spending more than Rs. 50,000 in a year, the renewal fee will be waived.
Fuel :
1% fuel surcharge waiver at all other fuel stations on transactions over Rs. 400 (max capped at Rs. 250/month).
Fees and Charges :
- Joining Fee/Renewal Fee = Rs. 500 + GST.
- Interest Rate = 3.6% per month or 43.2% per annum.
- Foreign Currency Markup = 3.5% of the transacted amount.
- Cash Advance Fee = 2.5% of the withdrawn amount or a minimum of Rs. 500.
The Indian Oil HDFC Bank Credit Card is very well suited for individuals with high fuel spending as it offers accelerated reward points in such categories. One of the best features of this card is there are various redemption options present, and you can choose from the one you find more useful.
Quick Comparison :
Here is a quick comparison between the two fuel credit cards in India :
| Basics | Indian Oil Axis Bank RuPay Credit Card | Indian Oil HDFC Bank Credit Card |
| Joining Fee | Rs. 500 + GST | Rs. 500 + GST |
| Renewal Fee | Rs. 500 + GST | Rs. 500 + GST |
| Welcome | 100% cashback of up to Rs. 250 on the first fuel transaction | N/A |
| Interest Rate | 3.4% per month or 49.36% per annum | 3.6% per month or 43.2% per annum |
| Rewards |
|
|
| Movies and Dining |
|
You get to save 2.5% on your dining bills. |
Also Read – Indian Oil Axis Bank Credit Card vs Axis Bank Privilege Credit Card
Conclusion
Almost everyone has at least one vehicle, which they use every day. This amount of usage also means a lot of fuel consumption, making it into a heavy expense. Financial tools like fuel credit cards in India provide a suitable option for individuals with high fuel expenses. The Indian Oil Axis Bank RuPay Credit Card and Indian Oil HDFC Bank Credit Card are both tremendous entry-level credit cards that can help people lower their fuel bills to an extent. Rewards and cashback are decent, and other additional benefits are also worth looking for.
