IndianOil Axis Bank Rupay Credit Card

About IndianOil Axis Bank Rupay Credit Card

Are you tired of watching fuel prices climb every time you visit the petrol pump? The IndianOil Axis Bank Rupay Credit Card is designed to turn those mandatory fuel stops into savings opportunities.

This card functions as a specialized tool for vehicle owners who want to earn back a portion of their monthly commute costs. By using this card, you access the Axis Edge Rewards ecosystem, where every point you earn has a clear monetary value of ₹0.20. It is a practical choice for individuals who prefer the Rupay network, especially for the added convenience of UPI payments.

Built for salaried professionals and self-employed individuals earning at least ₹30,000 monthly, this card bridges the gap between basic credit cards and specialized fuel rewards programs. Unlike some competitors that restrict where you can use your points, this card offers a variety of redemption paths from online vouchers to direct phone-based redemption.

What sets it apart:

• ✓ Dual Power of Rupay and Axis: You get the widespread acceptance of the Rupay network combined with the robust Axis Bank Edge Rewards program.
• ✓ Transparent Reward Value: Every Edge Reward point is worth exactly ₹0.20, making it easy to calculate your actual savings.
• ✓ Flexible Redemption: Use your points for anything from online merchandise to loyalty transfers, or even redeem them via SMS.

Quick check: To qualify, you will need a minimum monthly income of ₹30,000 and a CRIF score of 720 or higher. You must also be between 18 and 70 years old.

Let's break down why this card stands out in the crowded fuel card market:

Key Benefits and Features of IndianOil Axis Bank Rupay Credit Card

The IndianOil Axis Bank Rupay Credit Card offers a structured way to earn rewards on your daily spends, provided you follow a few simple rules. Here is a detailed look at the features and the costs involved.

Axis Edge Rewards Program

The core value of this card lies in the Edge Rewards. Every point you earn is valued at ₹0.20. While many cards offer confusing conversion rates, this card keeps it straightforward. You can redeem these points through a comprehensive catalogue that includes:

• Online merchandise and shopping vouchers for popular brands.
• A mix of points and cash for shopping, which is great if you haven't accumulated enough points for a full purchase.
• Redemption for transactions via SMS or even offline phone-based requests.
• Loyalty transfers to partner programs.

Welcome and Activation Rules

There is one critical rule to remember: to stay eligible for rewards, you must make a minimum transaction of ₹100 within the first 30 days of receiving your card. If you miss this window, you won't be eligible for the rewards program. It is a simple step, but essential to maximize the card's features from day one.

Annual Fees and Savings

The card comes with a joining fee of ₹500. To keep the card cost-effective in the long run, Axis Bank offers an annual fee waiver. If you spend more than ₹3,50,000 in a card anniversary year, the ₹500 annual fee is waived for the following year. This makes the card effectively free for moderate to high spenders.

What to Keep in Mind: Exclusions

To maximize your benefits, you need to know where the card will not earn rewards. The following categories are excluded from reward earnings:

• Utility and Telecom bills.
• Rent payments and Wallet loads.
• Government-related transactions and Insurance payments.
• Education spends and Jewellery purchases.
• Financial institution transactions, cash advances, and repayments.

Eligibility Criteria

To apply for this card, you must meet the following requirements:

• Age: You must be between 18-70 years old. This applies to both salaried and self-employed individuals.
• Income for Salaried: A minimum monthly income of ₹30,000 is required.
• Income for Self-Employed: You should have an annual income (ITR) of at least ₹3.5 Lakhs.
• Credit Score: A CRIF score of 720 is generally required to ensure a smooth approval process.

How to Apply?

The application process for the IndianOil Axis Bank Rupay Credit Card is straightforward. Follow these steps to get started:

1. Step 1: Visit the official Axis Bank website or a trusted financial partner like BankKaro.
2. Step 2: Check your eligibility by entering your age, monthly income (ensure it's above ₹30,000), and employment type.
3. Step 3: Fill in your personal details including your PAN card number and contact information.
4. Step 4: Select the IndianOil Axis Bank Rupay Credit Card from the list of available offers.
5. Step 5: Complete the digital KYC process, which usually involves an Aadhaar-based OTP or a video call with a bank executive.
6. Step 6: Once your application is submitted, you can track your status using the application reference number provided by the bank.

The bank may offer you a different card variant based on their internal eligibility checks, so always read the specific features of the card offered before you finalize the application.

Credit Limit: What to Expect

Credit limits for the IndianOil Axis Bank Rupay Credit Card are assigned based on your unique financial profile. Most applicants receive an initial credit limit between ₹40,000 and ₹1,50,000, determined directly by your income proof and credit history. Several factors influence the limit you receive:

• Income Level: Those earning well above the ₹30,000 monthly requirement may receive higher limits.
• CIBIL or CRIF Score: A score higher than 720 demonstrates better creditworthiness and can lead to a more generous limit.
• Existing Relationships: If you already have a savings account or a loan with Axis Bank, they might offer a higher starting limit.

You can usually request a credit limit increase after 6-12 months of disciplined usage and timely repayments.

Comparison Table: Fuel Credit Cards in India

When choosing a fuel card, it is helpful to see how it stacks up against other popular options in the market. Here is a comparison of the IndianOil Axis Bank Rupay Credit Card with its top competitors.

If you are looking for a card that fits into the Axis Edge Rewards ecosystem and offers the convenience of Rupay UPI, the Axis variant is a strong choice. However, if your primary goal is a low spend requirement for the annual fee waiver, the HDFC or Kotak versions might be more accessible as they waive the fee at just ₹50,000 compared to ₹3,50,000 for the Axis card.

Documents Required for IndianOil Axis Bank Rupay Credit Card Application

You will need to submit the following documents when applying to ensure your application process is smooth:

For Salaried Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, or Driving License.
• Address Proof: Aadhaar Card, Utility Bills (not older than 2 months), or Rent Agreement.
• Income Proof: Latest 3 months' salary slips and 6 months' bank statements showing salary credits.
• Employment Proof: Office ID card or an official employment letter.

For Self-Employed Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, or Passport.
• Address Proof: Aadhaar Card, Passport, or Business Address Proof.
• Income Proof: Latest 2 years' ITR (Income Tax Returns) with a computation of income (minimum ₹3.5 Lakhs).
• Business Proof: GST registration certificate or Shop Act License.

Note: Ensure all documents are clear and self-attested. The bank might ask for additional documents during the verification phase if needed.

Who Should Get This Card?

Should you get this card? Here is who benefits most from the IndianOil Axis Bank Rupay Credit Card:

The Daily City Commuter: If you spend around ₹5,000 to ₹8,000 monthly on petrol or diesel at IndianOil outlets, this card is built for you. You will accumulate Edge Rewards consistently. By linking this card to your UPI apps (like GPay or PhonePe), you can handle all your small fuel station payments without carrying a wallet.

The Axis Bank Loyalist: If you already use Axis Bank for your savings or salary account, adding this card makes sense. You can pool your Edge Rewards from different sources and redeem them for bigger prizes in the Edge catalogue, like high-value shopping vouchers.

The UPI Enthusiast: Since this is a Rupay card, it is perfect if you want to use credit for your daily UPI transactions. This helps you keep your savings account statement clean while earning rewards on spends that usually wouldn't earn anything if paid via debit or cash.

You might want to skip this card if:

• You rarely refuel at IndianOil stations and prefer HPCL or BPCL.
• You spend less than ₹3.5 Lakhs annually and want a card with an easier annual fee waiver.
• You are looking for travel benefits like lounge access, which this card does not provide.

BankKaro Expert Review

Based on the card's features, the IndianOil Axis Bank Rupay Credit Card excels at providing a simple, entry-level fuel solution for the average Indian driver. The most significant advantage is the integration with the Rupay network. This allows you to pay merchants via UPI using your credit line, which is a major convenience in today's digital economy.

The reward redemption value of ₹0.20 per point is fair for an entry-level card, and the variety of redemption options (especially the SMS and phone-based ones) makes it accessible for people who aren't tech-savvy. I particularly like the transparency of the Edge Rewards portal.

However, the biggest limitation is the annual fee waiver threshold. Setting a ₹3.5 Lakh spend target to waive a ₹500 fee is quite high for this category. Many competing cards in the fuel segment offer waivers at the ₹50,000 mark. Additionally, the list of exclusions is extensive. You won't earn points on rent, utilities, or insurance, which are major monthly expenses for most households.

Our verdict: Choose this card if you are a frequent IndianOil customer who values the convenience of Rupay UPI and already participates in the Axis Bank ecosystem. If you are a low spender looking for a "free for life" experience, you may find the spend target for the fee waiver difficult to hit.

Terms and Conditions

Standard banking regulations apply to card usage, but you must specifically review these critical policy points governing the IndianOil Axis Bank Rupay Credit Card:

• The bank reserves the right to offer a different card variant based on your eligibility at the time of application.
• Reward eligibility is strictly tied to the 30-day activation rule (minimum ₹100 transaction).
• Spends on excluded categories like rent, utilities, and wallet loads will not contribute toward reward point accumulation.
• Annual fee waivers are calculated based on the card anniversary year, not the calendar year.