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IndianOil Axis Bank Credit Card
A low-fee fuel co-brand card offering some of the strongest headline fuel cashback in the Axis lineup — 4% effective value back on IndianOil purchases, stacked with a separate fuel surcharge waiver that applies even outside IOCL. Aimed squarely at IndianOil-loyal drivers rather than broad everyday spend, since the base 1% rate elsewhere is unremarkable and the RuPay network means it's best paired with UPI usage in India rather than travel abroad. The ₹500 fee and ₹3.5L waiver spend keep it accessible as a low-commitment second card for regular commuters.
Annual fee
₹500
Joining fee
₹500
Reward type
points
Base reward rate
0.2%
Card network
RuPay
Card tier
Entry
Who this card fits
Best suited to applicants with a credit score of roughly 700+ whose spend is concentrated in fuel. Its annual fee waives if you can comfortably clear the spend threshold.
Rewards & benefits
- Movie & dining: 10% off movie tickets via BookMyShow, plus Axis Bank Dining Delights discounts at partner restaurants
- Rewards rate: 0.2% base rate
Benefits by category
- 🍽️ Dining & food delivery
Up to 15% off flight/hotel bookings via partner platforms specifically on Wednesdays, plus ongoing Axis Bank Dining Delights discounts at partner restaurants
- 🏨 Hotel
Up to 15% off flight/hotel bookings via partner platforms specifically on Wednesdays, plus ongoing Axis Bank Dining Delights discounts at partner restaurants
- 🛍️ Shopping
1% reward rate
- ⛽ Fuel
4% reward rate · 1% fuel surcharge waiver (up to ₹50 per statement cycle) on transactions between ₹400–₹4,000, applicable at any fuel station, not just IOCL
- 🌍 Forex / international spend
3.5% forex markup on international transactions
Eligibility
- Minimum credit score: 700
- Employment: salaried, self-employed
- Age: 18–70
Fees & charges
- Spend-based waiver: Waived on annual spend of ₹3,50,000
- Rewards redemption fee: ₹99 redemption processing fee applies on EDGE Reward point redemptions for vouchers/statement credit
- Foreign currency markup: 3.5%
- Fuel surcharge waiver: 1% fuel surcharge waiver (up to ₹50 per statement cycle) on transactions between ₹400 and ₹4,000 at any fuel station
- Cash advance charges: 2.5% of the cash amount withdrawn, minimum ₹500
Benefits
- Up to 1,250 EDGE REWARD Points plus 100% cashback (up to ₹250) credited on the first fuel transaction made within 30 days of card issuance
- 4% value back (20 EDGE points per ₹100) specifically on fuel spend at IndianOil (IOCL) outlets across India — one of the higher fuel co-brand rates in the Axis lineup
- 1% fuel surcharge waiver (up to ₹50 per statement cycle) on transactions between ₹400–₹4,000, applicable at any fuel station, not just IOCL
- 10% instant discount on movie ticket bookings via BookMyShow, usable on a recurring basis
- Up to 15% off flight/hotel bookings via partner platforms specifically on Wednesdays, plus ongoing Axis Bank Dining Delights discounts at partner restaurants
Pros
- + Strong 4% effective value back specifically at IndianOil pumps
- + Low ₹500 joining/annual fee with an achievable ₹3.5L waiver spend
- + Fuel surcharge waiver stacks on top of the fuel reward rate, and applies at any fuel station
- + RuPay network supports UPI-linked payments alongside card spend
Cons
- − Fuel benefit is IOCL-outlet specific, not universal at all fuel stations
- − Base 1% reward rate on general spend is unremarkable
- − RuPay-only network limits acceptance for international or Visa/Mastercard-preferred merchants