Kotak IndianOil Credit Card is one of the best fuel credit cards in the market. It's a co-branded credit card with Indian oil. It helps one to get reward points for your fuel purchases at IndianOil Petrol Pump. Card comes with Rupay platform.
Features and Benefits
- Welcome Benefit: Earn 1000 RP on spending 500 within 30days of card issuance.
- Accelerated Fuel Rewards: Benefit of 4% Value back or 24 reward points (Max 1200 points) for every Rs. 150 of fuel purchase at IndianOil Outlet (100 -5000Rs/Month).
- Accelerated Rewards on Grocery & Dining: 2% value back or 12 reward points for every 150 spent on Grocery & Dining (Max 800 Points/cycle).
- Other Spends: For all other spends earn 3 reward points (0.5%) for every 150 spend.
- Fuel Surcharge: Enjoy fuel surcharge waiver of 1% upto Rs.100 per statement cycle for transaction between Rs. 100 and 5000. GST is not refundable.
- Personal Accident Insurance: Card also provides complimentary PAI of 2 Lakhs cover.
Exclusion
No reward points for Rent, educational services, utilities, government transaction.
Fees
Joining Fee: 449 + GST.
Renewal Fee: Renewal fee of 449 + GST can be waived off with spends of 50000 annually.
Final Verdict
It's a good fuel credit card to have in your wallet. Enjoy 4% value back +1% fuel surcharge waiver for your fuel needs. Fuel cards can come handy to reduces your ever-increasing fuel expense burden. One can get maximum value when fuel is purchased for ~7500/month due to max capping of 1200 points per month. Card comes pocket friendly as annual fees is quite low and can be waived of on spends of 50,000 which can be easily attained.
Kotak Indianoil card appears to be better than Axis IndianOil as it gives upto 1200 RP per cycle. That means you spend upto 7500 for fuels per cycle to obtain max benefits
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