Axis Bank, India’s one of the most honourable Bank recently launched a brand new credit card for the multipurpose facility of their customers. Axis Bank of India recently tied up with Indian Oil Corporation Limited and launched a multipurpose credit card, which VISA powers. On the one hand, the users can use it as a normal credit card in their online transaction; on the other hand, it gives us a special discount when you use it in the fuel spends. It gives more than a decent amount of return on your fuel spent.
So, if you are curious to know about this Axis Bank Indian Oil Credit Card or decide to issue this card in the future, then go through this review article. I can assure you that this article gives you more than decent information about this card, and this will be much easier for you to decide whether you should go up with this card or not.
We review and discuss here the key highlights of how you apply to get the card in this article. Moreover, we also take about all future benefits and charges.
There is no doubt that this Card is now one of the most profitable credit cards in India. As we know, the value of petrol and diesel in India is rising day by day. And from here, this card enters the market to help consumers. Besides normal users, this card will help those who have their vehicles.
You can join in this service with Rs. 500.00 + GST, which is the most critical feature or highlight by itself. When issuing this card, the company provides you with a special well-come benefit that you can avail of in the first 30 (thirty) days of your joining.
The company provides you with more than enough rewards points based on your transaction. You will earn 1(one) Edge reward point on every 100.00 rupees spent by your Axis Bank Indian Oil Credit Card. Besides this, you get a 4% return on IOCL spends which is quite magnificent on this price segment. But the off-line rewards are not up to the mark in comparison to other rewards points. The company only provides 0.02% as edge rewards when you use this card when you use it offline purchases.
You can check the following table for your better understanding.
Who Should OPT For This Credit Card?
If you want to apply for this card, your edge should be 18 or more than 18. And the maximum age limit is 70 years for applying. The add-on cardmember should be more than 15 years. Besides this, you will get an extra advantage for the time of approval if your credit score is 700 or more than 700.
Features And Benefits
The company provides impressive features and benefits to its cardholders, and the following are the most beneficial features.
i. Welcome Benefits
At the time of joining, you will get welcome benefits from the company from your first 30 days. In these 30 days, when using this card on fuel transactions, you get up to Rs. 250.00 cashback.
ii. Annual Fee Waiver
The annual fee waiver applies to your yearly transaction. If you spend 50000.00 or more than 50,000 via this card, then you get Rs. 500 waived off from your annual fee. But if you can’t spend this amount using this card, you don’t get this opportunity. In this case, you have to pay the default amount, which the company selects.
iii. Accelerated Rewards Points
Besides the normal reward point, you can get a special reward point by using this card. This special point is also called the Accelerated rewards point. You can earn this point by using this card on fuel transactions at IOCL fuel outlets. You can avail of the reward point by the transaction in between Rs. 100 to Rs. 5000 monthly.
iv. Online Shopping
Though this card is made for helping in fuel transactions, you can also use it as a normal credit card in your online shopping. If you use this axis bank Indian oil credit card in your online shopping, you get 1% cashback from the total amount of the transaction.
v. BookMyShow Discount
If you buy movie tickets using this card from BookMyShow, you get a flat 10% discount on your total bill. I think this is one of the best features of this card which benefits most cardholders.
vi. Discounts In Hotels And Restaurant
One of the coolest features of this card is its discount policy on famous restaurants and hotels. Using this card in restaurants and hotels tied up with this company gets up to 20% discount. You can avail of this feature in any partner restaurant of this company across the whole of India.
vii. Fuel Surcharge Waiver
As it’s an oil credit card, it’s quite obvious that it gives a waiver on fuel surcharge. In the fuel transactions between Rs. 200 to 5000, you can get a 1% surcharge waiver every month.
These are the key features and benefits that companies provide to their cardholders. Now, let’s talk about the fees regarding this card.
So, let’s start with the joining fee. You have to pay Rs. 500+ GST in the time of joining of this card services. In the following table, you can see the charges you have to pay now and in the future.
Eligibility And Required Documents
We discuss this topic with two tables for your better understanding.
How To Apply For This Credit Card?
The application process is quite easy. First, you have to go to the official site of axis bank, then enter the details that are required. After that, check eligibility against this card, and finally, after filling up the whole form, you have to submit it.
Besides this, you get an extra advantage if your previous credit score is good enough or more than 700.
If you have to face any difficulties or issues regarding the application, then go through the guideline or contact the customer care of Axis Bank.
1. Are there any other fuel credit cards offered by Axis Bank?
There are credit cards from Axis Bank that come with a fuel surcharge waiver; however, the Indian Oil Axis Bank credit card is specifically designed for cardholders looking for fuel benefits and fuel discounts. So if you are looking for a credit card from Axis Bank that benefits you on everyday fuel transactions, then Indian Oil Axis is the one for you.
2. What other benefits does this credit card offer apart from fuel?
The good thing about the Indian Oil Axis credit card is that it is not restricted to fuel benefits. You can enjoy benefits and privileges on online shopping, booking movie tickets, and earn accelerated reward points by using this card.
If you don’t like or afford this card, you have to try these under-mentioned cards, which are almost the same as beneficial and profitable.
So, these are the complete details and review of Axis Bank Indian Oil credit card. If you want to look like this kind of multi-purpose card, this will be a perfect choice for you. Besides, if you often your vehicle, then you get more than enough benefit by using this.
That’s all for today. Stay tuned with us more, getting more interesting reviews.