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IndianOil HDFC Bank Credit Card Review

The IndianOil HDFC Bank credit card stands out by providing a versatile and rewarding experience of earning 50 litres of free fuel annually with everyday spending. Its seamless payment options include several advantages and incentives.

Using this card, you can earn 5% of your spending as fuel points, 5% on Groceries and Bill Payments, and one fuel point for every ₹150 spent on every purchase. Such perks make this credit card a cost-efficient option for fuel expenses and multiple other payments.

In this review, you can learn about key features of the IOCL HDFC Bank credit card, rates and charges, along with benefits and drawbacks.

IndianOil HDFC credit card

IndianOil HDFC Bank Credit Card Key Features

The IndianOil HDFC Bank credit card is a customized product for customers who frequently visit IndianOil fuel stations to refuel their vehicles. However, the card also offers a variety of benefits for Indian Oil groceries and bill payments. In short, this cost-effective fuel credit card provides a continuously rewarding experience for fuel expenses.

Key Features
Fuel Surcharge Waiver1% at all fuel stations in India 
Renewal Fee WaiverWaiver on renewal membership fee if you spend a minimum of INR 50,000 in the 1st year.
IndianOil Outlet Rewards5% Fuel Points on every transaction
Smart EMIConvert costly purchases into EMI
IndianOil XTRAREWARDSTM Program (IXRP) MembershipComplimentary
Interest-free PeriodFor up to 50 days after activation

Benefits of IndianOil HDFC Bank Credit Card

Primary benefits of this credit include cost-saving on fuel expenses, along with multiple other advantageous offers and rewards points.

Fuel Surcharge Waiver

You can get a 1% fuel surcharge waiver at all fuel stations in India with a minimum transaction of INR 400 and a maximum cashback of INR 250. Such benefits make this credit card a cost-effective and practical option for people who regularly refuel their vehicles.

Renewal Fee Waiver

If you spend a minimum of INR 50,000 in the first year, you get a waiver on the renewal membership fee. It further saves costs on annual credit card spending.

IndianOil Outlet Rewards

With this credit card, you get 5% Fuel Points on every transaction made at IndianOil outlets, such as fuel stations, grocery stores, and Bill payments. It offers customers wider opportunities for making reward-driven and cost-saving payments with their credit cards.

Smart EMI

The card offers the smart EMI option to turn your large and expensive purchases into EMI.

IndianOil XTRAREWARDSTM Program (IXRP) Membership

This credit card includes a complimentary IndianOil XTRAREWARDSTM Program (IXRP) membership. The IXRP membership offers multiple cost-saving benefits for fuel expenses.

Interest-free Credit Period

The IndianOil HDFC Bank Credit Card offers an interest-free period of 50 days to cardholders, helping them use the credit for multiple transactions without worrying about any interest.

Revolving Credit

This credit card offers revolving credit to cardholders at lower interest rates.

Zero Lost Card Liability

You are not liable for fraudulent transactions made on your credit card after losing it. You only need to report the incident to the bank’s call center.

Cons of the IndianOil HDFC Bank Credit Card

The IndianOil HDFC Bank credit card offers more benefits than it has downsides, but it is better to be familiar with them before choosing the card.

IndianOil Fuel Station Credit Card

This credit card is specialized for customers who frequently refuel their vehicles at IndianOil fuel stations. Thus, most of the rewards, fuel points, and discount offers it provides are dependent on how many times and how much you spend on fuel using the card.

If you are not one of the people who visit the IndianOil fuel station daily or often, the card will not prove much beneficial to you.

Late Payment Charges

While the late payment charges of this credit card are fair compared to most, you must learn about them to identify the best option.

The late payment charges vary depending on the different due amounts. For example, the charges are INR 500 for the dues from INR 500 to 5,000 and INR 800 for the pending amount between INR 10,000 and 25,000.

Read full information on rates and charges here on HDFC Bank’s website.

Complicated Reward Point Redemption

Redeeming any fuel reward points earned through this card is not easy for most cardholders. It requires steps and research into the reward points to redeem them properly. Most cardholders do not redeem them due to this, making all reward points practically useless.

Is this the right Credit Card for you?

As mentioned before, the IndianOil HDFC fuel credit card is an ideal choice for those who regularly refuel their vehicles at IndianOil fuel stations and make various online purchases. However, its reward points and cashback primarily depend on purchases made at IndianOil outlets. You get less or no rewards for using this credit card at other outlets.

If you frequently make purchases at IndianOil outlets, you can go for this credit and expect a cost-effective and reward-driven experience. If not, it is best to consider and compare other options based on your requirements and habits.

Kotak IndianOil RuPay credit card is another great option if you choice of fuel station is IndianOil.

How to Apply Online for HDFC Bank IndianOil credit card?

Getting an IndianOil HDFC Bank Credit Card has become increasingly convenient due to the rising demand for online applications and fast approval processes.

You can visit HDFC Bank’s website to apply online for this credit card.

Nevertheless, if you meet the eligibility criteria, then have some of the below listed essential documents ready to submit for easy application and approval.

Eligibility Criteria

The eligibility criteria for the IndianOil HDFC Bank credit card are similar to most credit cards. However, the bank does have the legal right to alter the parameters of the eligibility criteria to evaluate applications according to different requirements.

The applicant should be a salaried Indian resident from the age of 21 to 60 years with a monthly income of at least INR 10,000.

Or

The applicant should be a self-employed Indian resident from the age of 21 to 60 years with a minimum annual income of 6 lakhs.

Required Documents

  1. Pan Card,
  2. Aadhaar Card
  3. Driver’s License
  4. Passport
  5. Voter’s ID
  6. Aadhaar Card
  7. Driver’s License
  8. Proof Of Income (3 Latest Salary Slips)
  9. Bank Statement (Last 3 Months)

You do not need each of these documents, but having them ready does increase your chances of approval.

Conclusion

The IndianOil HDFC Bank Credit Card is a highly beneficial credit card offering multiple rewards for transactions made at IndianOil fuel stations, grocery stores, and for bill payments. As far as credit cards go, this one offers a plethora of rewards and benefits compared to most.

However, it may not be an ideal option for you if you do not regularly make purchases at IndianOil outlets. You won’t be able to redeem its many reward points and cashbacks. Nevertheless, the IndianOil HDFC Bank Credit Card is a uniquely tailored option for faster approval, easy application process, fair interest rates, and multiple rewards points.

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