Axis Bank
IndianOil Axis Bank Credit Card
Annual Fee
₹590₹500 + GSTBase Reward
1% points
Foreign Markup
3.5%
Welcome Benefits
1,250 EDGE Reward Points Worth ₹250
Product Highlights
- 100% value up to 1,250 EDGE Reward Points on first fuel transactions made within 30 days of card issuance.
- 20 Reward Points on every ₹100 spent at IOCL petrol pumps.
- 5 Reward Points on every ₹100 spent on online shopping.
Category Rewards
fuel
20 Reward Points
20X
shopping
5 Reward Points
5X
Fee Waiver
Renewal Fee Waived on Annual Spending of ₹3.5 Lakh
Merchant-Specific Rewards
1 pt ≈ ₹0.25–₹0.50
IOCL
20 Reward Points(N/A)
Online Shopping
5 Reward Points(N/A)
Reward Calculator
Earns ₹10/year (net)
Modest gain. Solid hold if you like the perks.
₹25K
across all your buckets
3K
Axis EDGE Reward Points
₹600
via edge catalogue · ₹0.2/pt
Effective rate
0.20%
Annual fee
₹590
Year 1 net
+₹10
Year 2+ net
+₹10
ongoing
Adjust your spend by reward bucket
1 bucketsSurcharges & Exclusions
Watch-outs that quietly erode your effective rewards. Categories listed as “excluded” earn 0% even if the merchant looks normal.
Rent payment surcharge
1%Charged on every rent transaction via CRED / NoBroker / Magicbricks / etc.
Wallet load surcharge
1%Kicks in after ₹10,000 cumulative wallet loads/cycle (Paytm, PhonePe, Mobikwik)
Utility payment surcharge
1%Kicks in after ₹25,000 cumulative utility spends/cycle
Foreign exchange markup
3.5%Charged on every international (non-INR) transaction
Excluded from rewards
emi, rent, wallet, government, education, utility
Fuel surcharge waiver (good news)
1%Surcharges are typically charged 1 cycle after the transaction and may include GST. Always confirm with the bank's most recent T&C.
Rewards Details
20 Reward Points per ₹100 on fuel transactions at IOCL stations, 5 Reward Points per ₹100 on online shopping and 1 EDGE Point per ₹100 on all other spends with the card. Instant discount of up to 10% on movie tickets on BookMyShow.
- Reward Points redeemable for shopping/travel vouchers and products (from the given product catalog) on Axis Bank EDGE Rewards Portal.
Benefits & Features
Domestic: N/A International: N/A
Pros & Cons
Pros
- The card is best suited for transactions at petrol stations, offering excellent cashback on fuel, a daily necessity.
- Get 10% off on movie tickets made with BookMyShow.
Cons
- While this card is great for cashback on fuel transactions, it does not provide any travel benefits.
- You won’t receive a significant welcome benefit, only 1,250 EDGE Reward Points worth ₹250 (maximum).
Additional Info
Important: The welcome benefit of 1,250 EDGE Reward Points is valid only for the first fuel transaction within 30 days of card issuance.
The card does not offer any travel benefits, making it less suitable for frequent travelers.
The fuel surcharge waiver applies only for transactions between ₹400 and ₹4,000.
Excluded Categories
Partner Merchants
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Fees & Charges
Eligibility
Min Age
18 yrs
Networks
Fee Waiver
Renewal Fee Waived on Annual Spending of ₹3.5 Lakh