IndianOil Axis Bank Premium Credit Card: All You Need to Know

Credit cards have come a long way from being just another way to make your payments in the contemporary world. From reward points to cashback offers, from exclusive discounts to travel privileges, credit cards have become a staple in the way we handle our money. One of these peculiar cards in the Indian market is the IndianOil Axis Bank Premium Credit Card. Providing an excellent mix of fuel based advantages, lifestyle perks and travel benefits, in order to suit the tastes of both frequent travelers, shoppers, and more so to the lovers of fuel.

In this post, we take a deeper look at the IndianOil Axis Bank Premium Credit Card, including the features, benefits, eligibility, and a comparison with some other best credit cards in the similar category.

Summary of the IndianOil Axis Bank Premium Credit Card

The IndianOil Axis Bank Premium Credit Card is a co-branded credit card between Axis Bank and Indian Oil Corporation. This card is tailor-made to give a number of benefits for the customers who fuel at IndianOil outlets. But it's not just fuel-centric offers you can benefit from with this card as it offers benefits across a range of spending categories.

Whether you're on the road a lot, like your retail therapy, or simply like to drive, this card has lots of benefits that can help make your everyday spending better.

Highlights of IndianOil Axis Bank Premium Credit Card

Welcome Benefits

Here are some of the welcome benefits of IndianOil Axis Bank Premium Credit Card:

1. Welcome Benefits of IndianOil Axis Bank Premium Credit Card
   The card activation is accompanied with a welcome gift of 500 bonus points which can be redeemed for fuel or any other purchases at IndianOil fuel outlets.

Reward Points System

• The card rewards 4 reward points for every ₹150 spent on fuel at IndianOil petrol stations.

• The cardholder will also earn 2 reward points for every ₹150 spent on all other categories.

• Cardholders also earn extra points when they shop and eat online, so it is a good card for a variety of spenders.

Fuel Benefits

Since the card is co-branded with IndianOil there are distinctive fuel benefits available for the card members.
Cardholders are waived of fuel surcharge for transactions between ₹400 to ₹5,000 at IndianOil petrol pumps. Which is great for those who are gassing up often.

The fuel surcharge waiver is available on all IndianOil stations, which makes this a great card for those who spend a lot on fuel.

Reward Points Redemption

The reward points collected can be used for fuel purchases at IndianOil stations or for other lifestyle benefits through the Axis Bank’s Edge Rewards Catalogue.

This is what makes the IndianOil Axis Bank Premium Credit Card a really versatile option for the customers who like points that can be redeemed flexibly.

Travel Benefits

You'll get luxurious-tinged travel perks, like access to premium airport lounges.
HDFC Regalia First Credit Card – Free lounge access: This card provides you with free access at all the domestic lounges in India, which is great especially if you are a frequent flyer.

What’s more is that the card in itself is a discount card especially if you book flights and hotels online, making travelers feel that they got their money’s worth every time they spend.

Zero Liability on Lost Card

In an eventuality of the card being misplaced or stolen, the IndianOil Axis Bank Premium Credit Card provides zero liability on fraudulent transactions. This provides cardholders with the added security that their funds are always safe.

Comprehensive Insurance Coverage

The card offers a full suite of insurance, and comes with purchase protection and air accident insurance. That’s an added security step for cardholders who are frequent travelers and/or make high-value purchases.

Annual Fee and Renewal

This card charges nothing in the first year but, will be ₹1,000 plus taxes from second year.
But the renewal fee is waived off if cardholder spends a certain amount (usually ₹30,000) every year.

This creates an incentive for cardholders to use the card frequently in order to maximize the rewards program.

IndianOil Axis Bank Premium Credit Card Benefits Summarised

Key Highlights of the IndianOil Axis Bank Premium Credit Card

The IndianOil Axis Bank Premium Card has something to offer across all spending types. Here are a couple of the top reasons:

Fuel Benefits

• Waiver on Fuel Surcharge: On all fuel transactions of ₹400 – ₹5,000 a 1% fuel surcharge waiver at IndianOil petrol pumps can lead to handsome savings if you are a frequent driver.

• Reward Points on Fuel: Users of this credit card can accumulate 4 reward points for every ₹150 spent on fuel at IndianOil outlets thus, making it one of the excellent credit cards to earn fuel benefits.

Rewards Program

• 2 Reward Points on every ₹150 spent on all other retail purchases (such as shopping online, dining, and groceries).

• Reward Points Redemption: You can redeem your points against fuel purchase, travel bookings, or any of the lifestyle products listed in the Axis Bank rewards programme.

Travel Privileges

• Domestic Lounge Entry: With this card, you get free access to lounges at certain Indian airports, and that makes this a good card for frequent travelers.

• Flight and Hotel Discounts: On top of that, there are also special discounts on flight and hotel bookings available on the card, which is perfect for people who travel often.

Insurance Benefits

• The card offers purchase protection on things you buy with the card if they are damaged or stolen.

• Air Accident Insurance: With air accident insurance coverage, be more assured when flying.

Additional Benefits

• Exclusive Discounts on Shopping: You get exclusive discounts on online shopping with Flipkart, Amazon etc with the IndianOil Axis Bank Premium Credit Card. It's a great thing for those individuals out there who are frequent online shoppers.

• Zero Lost Card Liability: The card offers zero liability to the cardholder due to fraudulent activity, or misuse of card, if the card is stolen or lost and used for fraudulent transactions.

IndianOil Axis Bank Premium Credit Card Eligibility

Who Can Apply for IndianOil Axis Bank Premium Credit Card

Eligibility Criteria to Apply for IndianOil Axis Bank Premium Credit Card

• Age: 21–60 years

• Income: Candidates should earn a salary of at least ₹25,000 per month (for salaried individuals) or have an annual income of ₹3 lakh (for self-employed individuals)

• Credit Score: You’ll need a solid credit score to qualify for this card. Normally, an approval is based on a credit score of more than 750.

Documents Required

• Any ID proof (Aadhaar, Passport, Voter ID)

• Income proof (Salary slips, bank statement or ITR)

• Proof of address (utility bills, rent agreement etc.)

Comparison with Other Fuel Credit Cards

Let us compare this card with other fuel credit cards.

If you compare the IndianOil Axis Bank Premium Credit Card with other fuel credit cards you will also see that it has more features than just fuel benefits. The HDFC Bharat CashBack Credit Card and the Citi IndianOil Credit Card are fuel-centric, while the IndianOil Axis Bank Premium Credit Card also offers lifestyle benefits such as dining offers, shopping deals and premium travel privileges. What’s more, it earns at a better pace for fuel spends, making it one of the best fuel cards in the country.

Conclusion

Summary

The IndianOil Axis Bank Premium Credit Card is a great option for those who spend big on fuel, and are seeking a card with fuel benefits in addition to lifestyle benefits. Its rewards program is generous not only for fuel purchases but also for shopping, dining and travel. The card is also packed with security benefits, insurance perks, and travel benefits making it a top-notch credit card.

Be it a regular traveller, a habitual buyer, or those spending more on fuel the IndianOil Axis Bank Premium Credit Card is crafted to maximise utility. With all the benefits it offers, and low annual fee and simple reward claim system, this is a card that will upgrade your life and be fantastic value.

If you're in the market for a credit card to help you save on fuel, gain rewards when you spend and access premium benefits, you may want to consider the IndianOil Axis Bank Premium Credit Card.