Is the IndianOil Axis Bank Credit Card Worth It?
Enter what you spend where this card pays more, and the benefits you would use. See what it is worth to you in rupees, after its fee.
- 207Cards to check
- FreeCost
- Fuel card
- ₹590 fee a year (with GST)
- Fee waived from ₹29,167 a month
- 0.2% base, up to 1% on online shopping; 4% only at partner merchants
- Pays in reward points
- fuel only at Indian Oil: 4% back, up to ₹200 a month
- online shopping: 1% back, up to ₹50 a month
- spending ₹29,167 or more a month: the ₹590 fee is waived
- you spend less than ₹29,167 a month (₹3,50,000 a year, rent and wallet loads not counted): the ₹590 fee is then charged
- most of your spending is utility bills, rent, insurance or education: those earn nothing on this card
- you pay mostly by UPI: a Visa or Mastercard card cannot pay by UPI
- you rarely spend on Indian Oil: the 4% rate applies only there, everything else earns 0.2%
- you often pay in foreign currency: 3.5% is added to every foreign spend
- you sometimes pay only the minimum due: interest of 3.75% a month (45% a year) outweighs any reward
Your spend a month, by kind
Terms on the normal rate: 1 EDGE point per ₹100 (~0.2%) on all other spends
Also earns nothing on: Gift cards.
Total on the card: ₹0 a month
Abroad and benefits
Every rate on this card, and what your spend earns
| Spend category | Rate | Monthly cap | Where it applies | Your spend earns |
|---|---|---|---|---|
| UPI payments (scan and pay) | Earns nothing | - | a Visa or Mastercard card cannot pay by UPI | - |
| Online shopping | 1% | ₹50 | All merchants in the categoryTerms: 1% value back (5 EDGE points per ₹100) on online spends of ₹100 to 5,000 per transaction, up to ₹5,000 of eligible online spend a calendar month | - |
| Dining and food delivery | 0.2% | No cap | The card's normal rate | - |
| Groceries | 0.2% | No cap | The card's normal rate | - |
| Travel: flights, hotels, trains | 0.2% | No cap | The card's normal rate | - |
| Fuel | 0.2% | No cap | Anywhere else in the category | - |
| Fuel, only at listed merchants | 4% | ₹200 | Only at: Indian Oil (IOCL)Terms: 4% value back (20 EDGE points per ₹100) on IOCL fuel between ₹400 to 4,000, up to ₹5,000 eligible fuel spend a month | - |
| Bills and recharges | Earns nothing | - | earns nothing on this card | - |
| Rent | Earns nothing | - | earns nothing on this card | - |
| Insurance premiums | Earns nothing | - | earns nothing on this card | - |
| School and college fees | Earns nothing | - | earns nothing on this card | - |
| Wallet top-ups | Earns nothing | - | earns nothing on this card | - |
| Taxes and government payments | Earns nothing | - | earns nothing on this card | - |
| Spend abroad or in a foreign currency | 0.2% | No cap | The card's normal rate | - |
| Everything else | 0.2% | No cap | The card's normal rate | - |
Card data sourced via CardAdvisor.in, India Credit Card Facts, CC BY 4.0, adapted by SkyloFin.
Common Questions
When is a credit card worth its annual fee?
When the rewards you actually earn in a year are more than the fee plus 18% GST, or when you spend enough for the bank to waive the fee. This calculator works out both from the card's own published terms.
Why is GST added to the fee?
Card fees carry 18% GST, so a ₹1,000 fee costs ₹1,180. Where the bank already quotes the fee with GST, it is not added twice.
What does 'capped' mean?
Many cards limit the reward you can earn in a month in a category. Spending above the cap earns nothing extra, so the calculator stops counting there.
Is a lifetime free card always better?
Not always. A paid card with higher rewards can leave you with more once you spend enough. The break-even line shows the monthly spend where that starts.
Guides in Plain Words
Short reads that explain how it works before you decide.
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