Citibank Indian Oil Credit Card (Platinum) Review

By | December 12, 2016

Citibank Indian Oil Credit Card

Looking for a fuel credit card? Citibank Indian Oil Credit Card might serve the purpose but only if you’re happy to fuel your vehicle with Indian Oil petrol pumps. Its normal for Credit card companies to tie up with a single company and give some rewards for that.

For example, ICICI and Amex has tie up with Hindustan Petroleum(HP) due to which Amex is able to give 3% extra cashback on fuel (temporarily) on top of Full surcharge waiver. HDFC has tie up with Bharat Petroleum (BPCL), due to which you can get 5x rewards which has the capacity to save upto 16.5% on fuel on HDFC Credit Cards. Yes, Unbelievable numbers if you hold super premium cards.

Similarly, Citi bank has tie up with Indian oil and they promise to give about 5% value back, which is 2.5% surcharge waiver and another 2.6% cashback as points. So you actually get 2.6% cashback and don’t be driven by the marketing tactics that say 5% or so 😀

  • Annual Fee: Rs.1,000+Tax ( Spend Rs.30,000/Yr for Waiver)

Citibank Indian Oil Credit Card Reward Points:

While 2.6% as a inbuilt feature of a card appears nice, do note that they have an upper ceiling. Lets look into all the in & outs of the card.

  • Fuel: 2.5% surcharge reversal + 2.6% cash back as points
  • 4 Turbo Points for every Rs.150 spent on Fuel
  • Upper Cap: Rs.10,000 (or 267 Turbo Points) per transaction
  • Note: IOC pumps only, swiped on Citibank EDCs only
  • 4 Turbo Points for every Rs.150 at our featured partner.
  • 2 Turbo Points on every Rs.150 spent at groceries and supermarkets [ capped to spends up to Rs.5,000 (or 67 points) per month ]
  • 1 Turbo Point = Rs.1 worth of fuel.

Lets see the real life scenario. Most of us would fuel for about Rs.5000 and that would give us about Rs.132 worth of points for which you need to go through all tiny terms every single time. Moreover, Citi terminals are nowhere located out of metro cities. That means less acceptance of the card to get points. Also, too much of restrictions to earn too small points.

Will i take a card for earning Rs.132 a month? Damn, never. I will rather stick to my other cards and use cash for fuel or use any of the other cards with just fuel surcharge waiver.

Features of Super Value Titanium Card:

  • CardExpert Rating: 3/5
  • Reward rate: 2.6% (fuel)
  • Complementary Airport lounge access: Nil
  • Foreign Exchange Markup fee: 3.5% + Service Tax

As you can see, its a decent credit card if you live in a metro city and just want one card for fuel, provided IOC pump is nearby your location. Else, forget it. Its just a marketing gimmick with which Citi is selling the card. You can get far better value from your spends with other cards, considering Fuel expense is minimal for most of us.

Looking for a better Fuel cashback credit card?
Check out my latest list of 5 Best Fuel Credit Cards in India with full Reviews.

Whats your take on Citibank Indian Oil Platinum Credit Card? Holding it? why?

12 thoughts on “Citibank Indian Oil Credit Card (Platinum) Review

  1. Prashant

    I have been using this card for past 5 years and it is best fuel card in india.

    Reply
  2. Selvakumar

    Precise Update Siddharth… I have got this card few months back and cancelled within a month… Searching for the IOC pumps and to insist them for the swiping in Citibank EDCs is big task in Gurgaon (Gurugram) itself.

    Reply
        1. Siddharth Post author

          When you apply for a Card,
          CIBIL report is requested by the bank, which puts your score down by 10-20 points.

          Though, it gets back to normal when you use it regularly for 6 months or so.
          So in your case, you’ve hurt your points and closed the card.

          Reply
      1. Selvakumar

        Oops… Thanks for the information… Will be careful from the next time…
        (They have passed my credit limit from the Fuel card to Rewards card )

        Reply
  3. ramu

    Dear Sid,
    I want to get rid of my IOC titanium card and instead get an card which gives me fuel surchage and also 5 points on ever 150 rs spend?

    Can you suggest me on this one? appreciate it

    Happy new year man

    Reply
  4. Venkatesh

    As said by Selvakumar, most of Indian Oil fuel stations are not accepting citibank credit card(Reward Points). They say the swipe machine is not working. From past 6 to 8 months I have used it only once.An year ago it was good but now many indian oil stations are not accepting, not just with one station I tried at multiple stations.
    This is with respect to bangalore location. I dont know about other locaions.

    Reply
  5. Vinamra Jain

    I have been using this card for almost 9 years and gives good rewards on fuel. I stay in Delhi and the card works at almost all Ioc outlets. It works as good as cashback card since I can use points to buy fuel which I had bought anyways. I spend almost 4-5 lakes every year giving me 7000-8000 worth of fuel every year which is substantial.

    Reply
  6. Saravanan R

    One of the biggest IOC bunk removed citibank pos due to higher transaction charges. I put fuel more than Rs. 10000 per month over there but since there is no citi pos, I didn’t get this card.

    Reply
  7. Jason

    Finding Indian Oil outlet is little tedious an i earned very little rewards point with it. Planning to change the card type to Citibank Rewards Card.

    Reply

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