The IndianOil HDFC Bank Credit Card, launched by HDFC Bank in association with the Indian Oil Corporation Limited, is a super elite credit card that is exclusively designed for those consumers who often need to spend more on fuel and usefulness. This credit card has been launched to enable cardholders to receive substantial discounts on fuel expenses, along with attractive rewards that they can earn on their spending; in the form of 5% Fuel Points on spends made at IOC, Groceries, and Utility Bill Payments.
Hence, the card is suitable for both the salaried class and the self-employed, as well as individuals who are keen on gas, and who can take advantage of facilities including free fuel surcharge, UPI convenience via mobile payments, and free registration under the IndianOil XTRAREWARDS Program. The cardholders benefit from competitive reward redemption rates, with Fuel Points valued at ₹0.96 for fuel and ₹0.20 for other redemption options. If this card is advertised to those who use fuel often, this card also has flexibility and convenience within it, and its features.
IndianOil HDFC Bank Credit Card
Joining Fee:
Rs. 500 + GST
Best Suited :
Fuel, groceries, Utility payments
Renewal Fee:
Rs. 500 + GST
Reward Type:
Fuel Points
Welcome Benefits:
None
IndianOil HDFC Bank Credit Card Features and Benefits
- Fuel Points:
- Earn 5% Fuel Points on fuel purchases at IndianOil outlets, groceries, and utility bill payments.
- 1 Fuel Point for every ₹150 spent on other purchases.
- Fuel Points can be redeemed for fuel (1 FP = ₹0.96) or as cashback (1 FP = ₹0.20).
- Fee Waiver:
- The joining fee of ₹500 + GST is waived on spending ₹20,000 in the first 90 days.
- An annual renewal fee of ₹500 + GST is waived on spending ₹50,000 in a card anniversary year.
- Fuel Surcharge Waiver:
- 1% fuel surcharge waiver on transactions above ₹400, with a maximum benefit of ₹250 per statement cycle.
- UPI Integration:
- The card can be linked to UPI apps, allowing seamless payments.
- Reward Expiry:
- Fuel Points are valid for 2 years from the date of accrual.
- Complimentary Membership:
- Free membership to the IndianOil XTRAREWARDS Program, enabling easy reward redemption for fuel and more.
How To Earn and Redeem IndianOil HDFC Bank Credit Card Reward Points
How to Earn Reward Points:
- Fuel Purchases:
- Earn 5% Fuel Points on fuel spent at IndianOil outlets.
- Grocery and Utility Payments:
- Earn 5% Fuel Points on groceries and utility bill payments.
- Capped at 250 Fuel Points per month for the first 6 months, and 150 Fuel Points per month thereafter.
- Other Purchases:
- Earn 1 Fuel Point for every ₹150 spent on all other purchases.
How to Redeem Reward Points:
- For Fuel:
- Redeem Fuel Points at IndianOil outlets, where 1 FP = ₹0.96.
- For Products/Vouchers:
- Redeem Fuel Points through the product catalogue, where 1 FP = ₹0.20.
- For Cashback:
- Redeem Fuel Points as cashback on your credit card statement, where 1 FP = ₹0.20.
IndianOil HDFC Bank Credit Card Fees and Charges
Feature | Details |
---|---|
Joining Fee | ₹500 + GST (Waived if ₹20,000 is spent within the first 90 days) |
Renewal Fee | ₹500 + GST annually (Waived on spending ₹50,000 or more in the previous card anniversary year) |
Fuel Surcharge Waiver | 1% waiver on fuel transactions above ₹400 (maximum benefit of ₹250 per statement cycle) |
Interest Charges | Interest rate of 3.6% per month (42.36% annually) on outstanding balances |
Late Payment Charges | ₹100 to ₹1,300 depending on the total due amount |
Foreign Currency Markup | 3.5% of the transaction amount |
IndianOil HDFC Bank Credit Card Product Details
- Earn 5% Fuel Points on fuel at IndianOil outlets, groceries, and bill payments.
- 1 Fuel Point = ₹0.96 at IndianOil for fuel, or ₹0.20 for cashback and products.
- 1% surcharge waiver on fuel transactions above ₹400, capped at ₹250 per statement.
- The card can be linked to UPI for easy mobile payments.
- Free enrollment in the IndianOil XTRAREWARDS Program for better redemption rates.
- Fuel Points are valid for 2 years, after which they expire.
IndianOil HDFC Bank Credit Card Eligibility Criteria
- Age:
- Salaried Employees: 21 to 60 years
- Self-Employed Individuals: 21 to 65 years
- Income:
- Salaried Employees: Minimum ₹1,20,000 per annum
- Self-Employed Individuals: Minimum ₹6,00,000 per annum (as per Income Tax Return)
- Employment Status:
- Salaried or Self-Employed with a stable income.
- Credit History:
- Good credit history and credit score are generally required.
- Residency:
- Indian citizens or residents with a valid address proof.
Documents Required for IndianOil HDFC Bank Credit Card
1. Identity & Address Proof
Proof of Identity | Proof of Address |
---|---|
Aadhaar Card | Utility Bill (electricity, water, or gas) |
Passport | Passport |
Voter ID | Ration Card |
Driving License | Bank Statement with Address |
2. Proof of Income:
- Salaried Employees: Latest salary slips, Form 16, or recent bank statement showing salary credits.
- Self-Employed Individuals: Latest Income Tax Returns (ITR) along with financial statements.
3. Photograph:: Recent passport-sized photograph.
4. Application Form: Completed and signed credit card application form.
How to Activate IndianOil HDFC Bank Credit Card
- Receive Your Card:
- Upon approval, you will receive your IndianOil HDFC Bank Credit Card by mail.
- Use HDFC NetBanking:
- Log in to your HDFC NetBanking account.
- Navigate to the “Credit Cards” section and select “Activate Credit Card.”
- Enter the required details, such as your card number and expiry date.
- SMS Activation:
- Send an SMS from your registered mobile number in the format specified by HDFC Bank (typically mentioned in the card kit) to the activation number provided.
- Mobile Banking App:
- Open the HDFC Bank Mobile Banking app.
- Go to the “Credit Cards” section and follow the prompts to activate your card.
- Set PIN:
- Once activated, you may need to set a PIN for your card, either via NetBanking, Mobile Banking app or through an ATM.
- Confirmation:
- After completing the activation steps, you will receive a confirmation message or email from HDFC Bank.
FAQs
Q1. Can I use the IndianOil HDFC Bank Credit Card for international transactions?
Ans: Yes, the card can be used for international transactions. However, a foreign currency markup fee of 3.5% applies to such transactions.
Q2. Are there any restrictions on earning Fuel Points?
Ans: Yes, Fuel Points are not earned on wallet reloading, government transactions, rental payments, EMI transactions, and gold purchases.
Q3. What happens to my Fuel Points if I do not use the card for an extended period?
Ans: Fuel Points are valid for 2 years from the date of accrual. Points that are not used within this period will expire.
Q4. Is there a limit on the number of Fuel Points I can redeem in a month?
Ans: Yes, redemption against cashback and travel categories is capped at 50,000 Fuel Points per month.
Q5. Is it possible to issue me with a replacement card in case I lose or have my card stolen?
Ans: Yes, you can get a duplicate card from HDFC Bank that too by getting in touch with the HDFC Bank customer care department. A replacement fee may be charged and in case of loss or theft, you should contact the bank to block the transactions on the card.
Q6. What are the ways through which one can redeem Fuel Points?
Ans: It can be utilized to purchase fuel at IndianOil outlets at a ratio of 1 FP = ₹0. 96, buy items in the product catalogue at 1 FP = ₹0. 20 or as cashback on credit card at 1 FP = ₹0. 20.
Q7. What are the various steps for IndianOil HDFC Bank Credit Card Activation Process?
Ans: Cardholders can initiate the activation process in the following ways: by calling the HDFC Bank’s customer care, through the HDFC NetBanking, by following the instructions given while sending an SMS or through the HDFC Mobile Banking. You also are required to enter a PIN through these channels or perhaps at an ATM as well depending on the particular type of device under consideration.