Indian Oil Axis Bank RuPay Credit Card Vs Indian Oil HDFC Bank Credit CardIndian Oil Axis Bank RuPay Credit Card Vs Indian Oil HDFC Bank Credit Card

Indian Oil Axis Bank RuPay Vs Indian Oil HDFC Bank Credit Card

Individuals frequently embark on journeys, particularly due to their professional commitments and daily routines. Daily travel can take a toll on one’s physical well-being and financial resources. To alleviate these challenges, fuel credit cards have been introduced in India. Noteworthy examples of such cards are the Indian Oil Axis Bank RuPay Credit Card and the Indian Oil HDFC Bank Credit Card. Both of these cards are a result of collaboration between Axis Bank and HDFC Bank with the Indian Oil Corporation Limited (IOCL), a prominent player in the country’s fuel market. Possessing such a credit card can be deemed advantageous for anyone, especially those who engage in frequent travel. These cards are considered entry-level options and can prove highly beneficial for individuals with extensive travel commitments.

In addition to fuel-related benefits, these credit cards offer a variety of other perks. These advantages encompass rewards, cashback in specific categories, entertainment benefits such as movie and dining offers, and options for reward redemption, among others.

Features and Benefits of Indian Oil Axis Bank RuPay Credit Card and Indian Oil HDFC Bank Credit Card

Indian Oil Axis Bank RuPay Credit Card:

  1. Introduction:
    • Entry-level credit card.
    • Joining fee: Rs. 500 + taxes.
    • Primarily a fuel credit card.
  2. Features and Benefits:
    • Welcome Offer:
      • 100% cashback up to Rs. 250 on the first fuel transaction in the initial 30 days.
    • Rewards:
      • 20 EDGE Points per Rs. 100 on fuel purchases at IOCL stations.
      • 5 EDGE Points per Rs. 100 on online shopping and fuel (Rs. 100 to Rs. 5,000).
      • 1 EDGE point per Rs. 100 on miscellaneous spending.
      • Redemption options include shopping/travel vouchers or bank’s catalogue products.
    • Movie and Dining:
      • 10% discount on BookMyShow movie tickets.
      • Up to 15% off (max Rs. 500) on dining bills at partnered restaurants.
    • Spend Based Waiver:
      • Renewal fee waived if spending exceeds Rs. 50,000 in a year.
    • Fuel:
      • 1% fuel surcharge waiver for transactions between Rs. 200 and Rs. 5,000.

Indian Oil HDFC Bank Credit Card:

  1. Introduction:
    • Fuel points reward system.
    • Complimentary Indian Oil XTRAREWARDS Program (IXRP) membership.
    • Fair features for an entry-level card.
  2. Features and Benefits:
    • Rewards:
      • 5% fuel points on transactions at Indian oil outlets, groceries, and bill payments.
      • 1 Fuel Point per Rs. 150 on other fuel stations and purchases.
      • Points expire in 2 years.
      • Redemption options through IXRP, product catalogue, or cash statement.
    • Movies and Dining:
      • Save 2.5% on dining bills.
    • Spend Based Waiver:
      • Renewal fee waived if spending exceeds Rs. 50,000 in a year.
    • Fuel:
      • 1% fuel surcharge waiver at other fuel stations on transactions over Rs. 400 (max Rs. 250/month).

Fee and charges of Indian Oil Axis Bank RuPay Credit Card and Indian Oil HDFC Bank Credit Card

Indian Oil Axis Bank RuPay Credit Card:

  • Joining/Renewal Fee: Rs. 500 + GST.
  • Interest Rate: 3.4% per month or 49.36% per annum.
  • Foreign Currency Markup: 3.5%.
  • Cash Advance Fee: 3.4% of transaction amount or minimum Rs. 500.

Indian Oil HDFC Bank Credit Card:

  • Joining/Renewal Fee: Rs. 500 + GST.
  • The interest rate is 3.6% per month, equivalent to an annual rate of 43.2%.
  • Foreign Currency Markup: 3.5%.
  • Cash Advance Fee: 2.5% of withdrawn amount or minimum Rs. 500.

Comparison between Indian Oil Axis Bank RuPay Credit Card and Indian Oil HDFC Bank Credit Card

Indian Oil Axis Bank RuPay Credit Card:

Basics:

  • Joining Fee: Rs. 500 + GST
  • Renewal Fee: Rs. 500 + GST
  • Welcome: 100% cashback up to Rs. 250 on the first fuel transaction
  • Interest Rate: 3.4% per month or 49.36% per annum

Rewards:

  • 20 EDGE Points on every Rs. 100 spent on fuel at IOCL stations.
  • 5 EDGE Points on every Rs. 100 spent on online shopping.
  • 1 EDGE point on every Rs. 100 spent miscellaneously.
  • Accumulated rewards redeemable for shopping/travel vouchers or product purchases.
  • 5% fuel points at Indian Oil outlets, groceries, and bill payments.
  • 1 Fuel Point per Rs. 150 spent on other fuel stations or purchases.
  • Indian Oil XTRAREWARDS Program (IXRP): 1 Fuel Point = Rs. 0.96
  • Product Catalogue and Cash Statement redemption: 1 FP = Rs. 0.20

Movies and Dining:

  • 10% discount on BookMyShow movie tickets.
  • Up to 15% off (max capped at Rs. 500) on dining bills at partnered restaurants.
  • Save 2.5% on dining bills.

Indian Oil HDFC Bank Credit Card:

Basics:

  • Joining Fee: Rs. 500 + GST
  • Renewal Fee: Rs. 500 + GST
  • Welcome: N/A
  • Interest Rate: 3.6% per month or 43.2% per annum

Rewards:

  • 5% of the transaction as fuel points at Indian Oil outlets, groceries, and bill payments.
  • 1 Fuel Point per Rs. 150 spent on other fuel stations or purchases.

Movies and Dining:

(No specific information provided for movies and dining)

Which credit card suits you best?

  1. Nearly everyone owns a vehicle and uses it daily, leading to significant fuel consumption and high expenses.
  2. Fuel credit cards in India offer a practical solution for individuals facing substantial fuel costs.
  3. The Indian Oil Axis Bank RuPay Credit Card and Indian Oil HDFC Bank Credit Card are excellent entry-level credit cards specifically designed to reduce fuel expenses.
  4. These credit cards can effectively contribute to lowering fuel bills for users.

Frequently Asked Questions (FAQs)

1. What are the key features that differentiate the Indian Oil Axis Bank RuPay Credit Card from the Indian Oil HDFC Bank Credit Card?

Both credit cards offer benefits related to fuel expenses, but understanding the unique features can help you choose the one that suits your needs.

2. How do the rewards and cashback programs differ between the two credit cards?

Explore the specific rewards and cashback offerings of each card to determine which aligns better with your preferences and spending patterns.

3. Are there any significant variations in the annual fees or other charges associated with these credit cards?

Compare the fee structures of the Indian Oil Axis Bank RuPay Credit Card and Indian Oil HDFC Bank Credit Card to identify potential cost differences.

4. Which card provides better discounts or privileges at Indian Oil fuel stations?

Investigate the exclusive benefits offered by each card at Indian Oil outlets to assess which one provides more substantial discounts or privileges.

5. Do these credit cards come with additional perks or benefits beyond fuel-related advantages?

Check if there are supplementary features such as travel benefits, lifestyle perks, or rewards beyond fuel savings that may influence your decision.

6. What is the eligibility criteria for obtaining either the Indian Oil Axis Bank RuPay Credit Card or the Indian Oil HDFC Bank Credit Card?

Understand the eligibility requirements, including income criteria and other factors, to determine your eligibility for these credit cards.

7. Can these credit cards be used internationally, and do they offer any benefits for international transactions?

Evaluate the international usability of both credit cards and any associated benefits or fees for transactions conducted outside of India.

8. How responsive are the customer service and support systems for both credit cards?

Consider the customer service quality and responsiveness of both Axis Bank and HDFC Bank to address any concerns or issues with your credit card.

9. Are there any promotional offers or introductory benefits available when applying for these credit cards?

Check for any ongoing promotions or introductory benefits that might influence your decision to apply for either the Indian Oil Axis Bank RuPay Credit Card or the Indian Oil HDFC Bank Credit Card.

10. Can I link these credit cards to digital wallets or mobile payment platforms for added convenience?

Explore the compatibility of the credit cards with digital wallets or mobile payment platforms to streamline your payment options.

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