IndianOil Axis Bank Credit Card from Axis Bank

IndianOil Axis Bank Credit Card review

Axis Bank · Visa · points Official sources Checked 30 Oct 2026

At a glance

Annual fee: ₹500
Joining fee: ₹500
Fee waiver: ₹3,50,000 a year
Base return: 0.2% base
Point value: ₹0.2 per point
Domestic lounge: None found
International lounge: None found

Estimated net value a year

Profile	Net	% of spend
First card, light spender ₹15k a month	₹107	0.1%
Metro salaried ₹60k a month	₹2,352	0.3%
Family household ₹80k a month	₹3,264	0.3%
Frequent flyer ₹1.5L a month	₹4,560	0.3%
Online shopper ₹50k a month	₹1,608	0.3%
Rent-heavy ₹90k a month	−₹1,920	-0.2%

Fee maths: The ₹500 annual fee is waived at ₹3,50,000 a year of eligible spend, about ₹29,200 a month. Of our 6 profiles, 5 clear it; on first card, light spender you would pay the fee, which is 82% (₹607) of what that profile earns before the fee. On our 6 profiles it nets from −₹1,920 (rent-heavy) to ₹4,560 (frequent flyer), equal to −0.2% to 0.3% of spend across the profiles. Without a waiver, the metro salaried category mix earns back the fee from about ₹9,500 a month of total spend.

After fees and caps, best-case redemption. Use your own spend.

Our take: For IndianOil pump users with a small fee: 20 EDGE Points per ₹100 at IndianOil outlets on the first ₹5,000 of fuel a month. At ₹0.20 a point that is 4%, a maximum of ₹200 a month. Online spend earns 5 points per ₹100 on the first ₹5,000 a month (₹50 at most), and everything else earns 1 point per ₹100. Fuel at other pumps, utilities, telecom and rent earn nothing, and rent carries a 1% fee. The ₹500 fee is waived at ₹3.5 lakh a year.

From the card's terms: limits

Base return is only about 0.2% on other spends

Reward rates and caps

Spend category	Points per ₹100	Value per ₹100	Cap	Notes
Fuel	20	₹4	1000 pts monthly	20 EDGE Points per ₹100 only at IndianOil outlets, on first ₹5,000 of fuel spend per calendar month (max 1,000 points = 4%); fuel beyond that earns nothing (T&C 5.2). Share of fuel spend at IOCL outlets assumed.
Fuel	0	₹0	No cap found	Non-IndianOil fuel (and IOCL fuel beyond cap) earns no points.
Amazon, Flipkart, Other online shopping	5	₹1	250 pts monthly	5 points per ₹100 (1%) on eligible online transactions up to ₹5,000 per calendar month (cap 250 points); beyond cap earns base 1 point (T&C 5.3). Online status decided by network transaction indicator.
Bills & utilities, Rent	0	₹0	No cap found	Utilities, telecom and rent are excluded MCCs: no points. Rent also carries a 1% fee.
Everything else, Groceries, Dining & food delivery, Flights & hotels, Entertainment & OTT, International (foreign currency)	1	₹0.2	No cap found	1 EDGE Point per ₹100 on other eligible retail spends, no product-specific cap (T&C 5.4).

Point value: 1 EDGE REWARD Point = ₹0.20 (official value chart: 20 pts per ₹100 = 4% value back; 1 pt per ₹100 = 0.2%). ₹99 fee per redemption request on the EDGE REWARDS platform.

Excluded or reduced

Fuel outside IndianOil outlets and beyond ₹5,000/month at IOCL
Telecom, utilities, rent, wallet loads, gift cards, insurance, education, government, jewellery, tolls/bridge/road fees earn nothing
Cash withdrawals, EMI, fees, charges and taxes
Points only on multiples of ₹100 per transaction

Other benefits

Welcome: 100% value back on first fuel transaction within 30 days of issuance, up to 1,250 EDGE Points (₹250).
1% fuel surcharge waiver at IndianOil outlets on ₹400-4,000 transactions, max ₹50 per cycle (T&C 8)
10% off BookMyShow tickets up to ₹100 per month; from 1 Nov 2026 needs ₹25,000 spend in previous 3 months
Forex markup 3.5%; DCC markup 3.5% from 28 Aug 2026
Late fee up to ₹1,300 (slabs from ₹500)

Eligibility

Primary cardholder aged 18-70, resident Indian or NRI. No income criterion on official page.

Where it ranks

#5 in Best credit cards for fuel

Compare

IndianOil Axis Bank Credit Card vs IndianOil HDFC Bank

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FAQ

What is the annual fee of the IndianOil Axis Bank Credit Card?

₹500 a year, waived at ₹3,50,000 annual spend. Fees exclude 18% GST.

How do IndianOil Axis Bank Credit Card rewards work?

0.2% base, up to 1% on Amazon/Flipkart/other online shopping, 4% at partners, capped. 1 EDGE REWARD Point = ₹0.20 (official value chart: 20 pts per ₹100 = 4% value back; 1 pt per ₹100 = 0.2%). ₹99 fee per redemption request on the EDGE REWARDS platform.

Does the IndianOil Axis Bank Credit Card give airport lounge access?

We did not find lounge access on this card in the sources we checked.

Who is the IndianOil Axis Bank Credit Card best suited to?

For IndianOil pump users with a small fee: 20 EDGE Points per ₹100 at IndianOil outlets on the first ₹5,000 of fuel a month. At ₹0.20 a point that is 4%, a maximum of ₹200 a month. Online spend earns 5 points per ₹100 on the first ₹5,000 a month (₹50 at most), and everything else earns 1 point per ₹100. Fuel at other pumps, utilities, telecom and rent earn nothing, and rent carries a 1% fee. The ₹500 fee is waived at ₹3.5 lakh a year. The ₹500 annual fee is waived at ₹3,50,000 a year of eligible spend, about ₹29,200 a month. Of our 6 profiles, 5 clear it; on first card, light spender you would pay the fee, which is 82% (₹607) of what that profile earns before the fee. On our 6 profiles it nets from −₹1,920 (rent-heavy) to ₹4,560 (frequent flyer), equal to −0.2% to 0.3% of spend across the profiles.