HDFC Bank Indian Oil Credit Card Review

By | December 19, 2019

HDFC Bank recently launched a new co-branded fuel credit card in partnership with  Indian Oil Corporation Ltd and Visa. With this card, you not only get decent return on fuel, but also on many other categories. Let’s have a quick look into the review.

HDFC Bank Indian Oil Credit Card – Review

Joining Fees

  • Joining/Annual Fee: Rs.500+GST (Renewal fee waived on Rs.50k Spend)
  • Welcome Offer: You can earn up to 250 Fuel Points p.m. for the first 6 months (instead of usual 150 points).

Rewards

  • IOCL Fuel Spends: 5% (upto 150 fuel points p.m)
  • Grocery Spends: 5% (upto 150 fuel points p.m.)
  • Bill Payments: 5% (upto 150 fuel points p.m.)

As you see 5% return is very good and multiple categories giving you 5% is also very good, but the monthly limits on each are way too low.

Features & Benefits

  • Fuel Surcharge Waiver: 1% (Up to Rs. 250 per billing cycle, transaction value to be min. Rs.400)
  • XTRAREWARDS: The Fuel Points you collect can be redeemed towards IndianOil XTRAREWARDS Points (XRP) Redeem XRP for free fuel at over 20,000 participating IndianOil Petrol Pumps across India. [1 FP = 3 XRP; 1 XRP = Rs. 0.32]
  • Fuel Points validity: Fuel Points are valid only for 2 years from the date of accumulation

Bottomline

  • CardExpert Rating: 3.5/5

While 5% returns on fuel/grocery/bills are good, dealing with low max. cap. is a time consuming stuff. Then comes the redemption which appears to be complex as well. But if your monthly spends on above categories are anyway under Rs.3000, and if your nearby IOCL fuel station supports easy redemption, this may still work for you.

If not, you may rather have a look at the newly launched Axis Bank Indian Oil Credit Card which is also similar but have a slightly upper cap on fuel.

So its overall a rewarding card for beginners who are OKAY in dealing with the restrictions. Even-though the upper caps are in line with the spends of a typical entry-level credit card user, I wish it has high max. cap. for premium cardholders to make use of it as well.

What’s your take on the new HDFC Bank Indian Oil Credit Card?

Author: Siddharth

I love credit cards, enjoy travelling for free using reward points & airmiles. Obsessed with business class cabins, airport lounges and luxury hotels.

17 thoughts on “HDFC Bank Indian Oil Credit Card Review

  1. Bala

    HDFC Indian oil credit card is not available for major cities such as Delhi,Mumbai etc. Terms and conditions mentioned in card eligibility section.

    Reply
  2. Sudarshan Daga

    This is eligiblity conditions for the HDFC Indian oil credit card

    IndianOil HDFC Bank Credit Card is being offered in cities (as per residential address) ALL India except Bangalore, Chennai, Delhi, Gurgaon, Hyderabad, Mumbai, Pune, Secunderabad.

    Reply
  3. Divaksh Jain

    I have this card, card looks sexy!! you must use it on the HDFC EDC in order to get points else you will be charged more than and not get the 5% back.

    Reply
    1. Divaksh Jain

      I forgot to mention that this card becomes LTF if you register for smartpay service.

      Reply
    2. John

      How much net cash back will I get suppose I fill fuel for rs1000 at an indian oil pump. Taking into account the surcharge,surcharge waiver,gst,cashback etc

      Reply
  4. Praveen Katiyar

    Good on part of HDFC to launch new card in partnership with IOCL.
    But my take would be, take any other fuel card as HDFC ‘generally’ allows only one card and they have good cards, so why block HDFC with this one. Axis/Citi IOCL cards can be easily taken even if u have one more of their cards. Just my opinion.

    Reply
    1. Pranab

      Don’t think Axis also allow 2 cards.
      SBI allows 1 normal and 1 co-branded.
      Only ICICI allows you to have all their cards. Few months back I was having 8 active ICICI cards (all primary).

      Reply
      1. Praveen Katiyar

        @Pranab
        It’s good to know that ICICI allows you to hold so many cards. Would like to know all the cards you held from ICICI.
        I hold 2 Axis cards, Axis Privilege & Axis Vistara Signature. Both issued within a span on 6months, without any other relationship with Axis Bank.

        Reply
        1. Pranab

          Hi Praveen,
          The ICICI cards I held were (9 at a time in Oct)
          Rubyx Master
          Rubyx AMEX
          HPCL Coral Amex*
          Coral Amex*
          Expressions*
          Man Utd Platinum
          Platinum Visa
          Platinum Master
          Amazon Pay*
          *Presently Active
          I’ve savings account with Axis, but they’re not allowing to have me a second card. 5-6 months ago, when I applied for Flipkart card, they issued the new card but cancelled the old buzz card. Before/after that too I tried to have a second card, but not entertained.
          Do you have separate limits for those two cards?

          Reply
          1. Praveen Katiyar

            @Pranab
            What i can say in your case that it’s because of buzz card. Buzz & Flipkart are related, hence this.
            Try any other card may be after cooling off.
            Both my card show same limit (numerically, say X) may be as they were issued with same ITR within six months, but Its not combined limit (SC does so) i have used almost 2X using both cards at the same time.

      2. Praveen Katiyar

        @Pranab
        See Sid’s article of 25 best Credit cards, you would see 2 Axis card.

        Reply
  5. Dhrumil Parekh

    Which credit card gives unlimited reward points on fuel. I mean no upper cap. I might use fuel worth 30000-40000 in the next few months across multiple cars. Any suggestions? Thanks.

    Reply
    1. Prabu

      Citibank Indian Oil – CB is about 2.7% and no in IOCL pumps. Restriction on Citibank EDC going away from 2-Jan. Still, the number of pumps are limited.

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *