With rising fuel costs, individuals and families are seeking ways to reduce their fuel expenditures. Considering this, various fuel companies partner with banks to offer Credit Cards for fuel transactions. These cards offer direct cash back or reward points when used for fuel transactions.
One such option is the Indian Oil Credit Card, which offers benefits such as reward points, cashback and discounts on fuel purchases. Let us understand the details of this card and its benefits.
What is an Indian Oil Credit Card?
An Indian Oil Credit Card helps users save on their fuel spending at Indian Oil petrol pumps. The Credit Card offers loyalty points and rewards to the user.
These points can later be redeemed for free fuel or other rewards, depending on the bank’s tie-up program.
Benefits of the Indian Oil Credit Card
Using the Indian Oil Credit Card offers numerous benefits to the users. These include:
Joining or welcome benefit
Like most Credit Cards, on an Indian Oil Credit Card, you receive the welcome benefit after the card is issued. These welcome benefits are in the form of reward points for your first fuel transaction at an Indian Oil fuel outlet, typically within 30 days of card issuance.
Accelerated rewards at Indian Oil fuel outlets
Indian Oil Credit Card offers around 4% cashback on fuel purchases at any IOCL fuel station across India. This means every time you use the card to fill up your vehicle, a percentage of the amount you spend is credited back to your account.
Accelerated rewards for online shopping
In addition to fuel transactions, users can also use this Credit Card for online shopping. With this card, users can transact between ₹100 and ₹5,000 and earn around 1% value back on online shopping.
Instant discounts on movie ticket booking
The Indian Oil Credit Card also offers instant discounts on movie ticket bookings. The discount is available if the tickets are booked via the BookMyShow platform.
Apply for the Indian Oil Credit Card
Individuals between 18 and 70 years of age are eligible to apply for an Indian Oil Credit Card. Applying for an Indian Oil Credit Card is an easy process and you can apply online or offline. However, you must first check if the chosen bank offers this co-branded Credit Card.
Here is the process to apply for the card online.
- Step 1: Visit the official website of your chosen bank and search for the Indian Oil Credit Card option.
- Step 2: Click on the “Apply Now” option and then fill out the Credit Card application by entering the mobile number, income and other details.
- Step 3: After entering the information, submit the required documents, such as proof of identity and address, if requested.
- Step 4: After verifying the details, the bank will issue the Credit Card in your name. The card will be sent to your registered address.
Conclusion
An Indian Oil Credit Card is a good way to save on your fuel expenses. By earning cashback or rewards on every fuel purchase, you can reduce your overall fuel costs and also enjoy additional benefits. The card also offers discounts on online shopping, movie ticket bookings and more.
With this Credit Card, you can turn everyday fuel payments into meaningful savings. However, ensure the timely repayment of the Credit Card bill to avoid interest charges and maintain a good credit score.
