IndianOil Axis Bank Credit Card
DowngradeHalf the fee of the IndianOil Premium, seven times the waiver bar, and no lounge.
a year at ₹40,000 a month, after the fee
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Welcome: Up to 1,250 EDGE REWARD Points on the first fuel transactions within 30 days of card issuance
Priced on the everyday mix — 30% groceries · 10% utilities · 20% travel · 6% fuel · 34% everything else — with this card's published category rules applied: it earns nothing on utilities here, so that spend is dropped, not paid at the headline, and stops pacing milestones and the waiver. Plus milestones, minus the fee. No accelerator credit — the ranking model on /compare adds ~20% of spend at the card's best accelerator, so its ₹ for this card reads higher.
How these numbers are computed — and why the rankings show a bigger one →
Spend tiers, milestones and fee waivers included, at our house ₹/point. Portal and category multipliers can push higher — run your exact number →
Pays for itself at ₹24,000 a month
At ₹24,000 a month — ₹2,88,000 a year — on the everyday mix this card returns ₹500 gross (earn ₹500) against its ₹500 fee = ₹0 net — the first rung at or above ₹0. The ladder runs in ₹1,000 steps to ₹1,00,000 a month and ₹10,000 steps to ₹5,00,000; figures are rounded to the hundred, and the accelerator is never credited.
2 notes on the card itself: how it is issued · why it ranks #245
Why #245 The cheaper IndianOil Axis card, and the worse one. 4% at the pump stops at ₹5,000 of fuel a calendar month, base earn is 1 EDGE REWARD Point per ₹100 at the ₹0.20 portal rate, there is no lounge, and the ₹500 fee needs ₹3.5 lakh of spend to waive where the ₹1,000 Premium needs ₹30,000.
This card's EDGE REWARD Points are worth the ₹0.20 EDGE portal rate, not the ₹0.40 house value: Axis's own page calls 20 points per ₹100 "4% value back", which only works at ₹0.20. The ₹0.40 comes from the 5:2 partner-mile conversion that Magnus, Magnus for Burgundy and Reserve carry, and this card has no such column. Redemption also costs ₹99 a time on the EDGE REWARDS platform. The earn rate above already prices the ₹0.20.
Best real exit: Accor Live Limitless (ALL) at ₹0.43/pt (5:1 transfer, above house value).
The take
Axis sells two IndianOil cards and the cheap one is the trap. Both pay 4% at an IOCL pump; this one caps that at ₹5,000 of fuel a calendar month and demands the settlement amount land between ₹400 and ₹4,000, so a single big fill can fall out of the offer at the top end as easily as a small one falls out at the bottom. Everything else earns 1 EDGE REWARD Point per ₹100, which Axis itself prices at ₹0.20 — a fifth of a percent, and the worst base rate on the Axis shelf. There is no lounge access at all. And then the fee table: ₹500 a year, waived only above ₹3,50,000 of anniversary-year spend, where the ₹1,000 IndianOil Premium waives at ₹30,000 and hands you eight lounge visits and a currency worth ₹1 at the same pump. The two waiver bars sit in adjacent columns of the same Key Fact Sheet, which is the clearest evidence you need that this is the stripped product. What is genuinely here: ₹200 a month of fuel value if you fill up exactly right, 1% on the first ₹5,000 of online shopping a month, 10% off BookMyShow, and a welcome of up to 1,250 points for your first fuel spends. Take it only if the ₹500 is being waived for you at issue; otherwise pay the extra ₹500 for the Premium.
Your renewal — keep, downgrade or cancel
Here is the fee, the spend that clears it, and everything that has moved under this card since you last decided.
Keep, downgrade or cancel
₹500/yr at stake · 5 spend bands
The charge ₹500/yr
The waiver ₹3,50,000 of spend in the year before renewal — about ₹29,167 a month — and the renewal fee is not charged.
Break-even ₹24,000 a month — ₹2,88,000 a year — is where this card's value crosses its fee.
At your spend
₹0 a year, net of the fee, at ₹3,00,000 of annual spend
₹1,100 a year, net of the fee, at ₹6,00,000 of annual spend — this clears the waiver, so no fee is charged
₹2,100 a year, net of the fee, at ₹12,00,000 of annual spend — this clears the waiver, so no fee is charged
₹6,200 a year, net of the fee, at ₹36,00,000 of annual spend — this clears the waiver, so no fee is charged
₹10,200 a year, net of the fee, at ₹60,00,000 of annual spend — this clears the waiver, so no fee is charged
Everyday earn plus milestones, minus the fee — the same model as the value panel above, so the two cannot disagree. run your exact spend →
Your copy of this card
You hold this card.
Kept on this device, in your browser. It is never sent to us, never synced, and nothing else on the site reads it yet.
The downgrade
Axis Bank publishes no document naming a card you can step down to, so we name none — an invented product change is a phone call you would waste. That leaves keep or cancel, and the numbers above are the whole of it.
What has changed under this card
- 23 Sep 2026 Axis EDGE brings Accor back, drops ITC, and adds Cathay, Miles & More and Hilton issuer-wide
- 15 Sep 2026 Wyndham splits its three flat free-night tiers into four a program these points reach
- 8 Sep 2026 Flying Blue splits award tickets into Light / Standard / Flex — a 25% rise for the same product a program these points reach
We price what is in force today — a change that has not happened yet is not in these numbers. the full archive for this card →
If you call to cancel
What the bank offers to keep you is the one fact this desk cannot compute. We are collecting those reports — dated, and only in aggregate — before publishing any: an offer one reader was made is not one you are owed. Called about this card? Tell us what they offered →
The desk publishes subscribable .ics feeds for the dates it knows — offer deadlines, devaluations, expiry audits. Your renewal date is not one of them: only your statement knows it.
What's good
- 20 EDGE REWARD Points per ₹100 at IndianOil outlets — 4% value back at Axis's own ₹0.20 a point
- 5 EDGE REWARD Points per ₹100 on online shopping — 1% back, on the first ₹5,000 a month
- Up to 1,250 EDGE REWARD Points on your first fuel transactions inside 30 days
- 1% fuel-surcharge waiver at IndianOil outlets on settlements of ₹400–₹4,000, up to ₹50 a statement cycle
- Up to 10% instant discount on BookMyShow movie tickets
- Up to 15% off flights and hotels via Goibibo and MakeMyTrip, 10% off Swiggy, and the Axis Dining Delights programme
Watch out
- The ₹500 fee waives only at ₹3,50,000 of anniversary-year spend — the ₹1,000 IndianOil Premium waives at ₹30,000
- The 4% fuel leg is capped at ₹5,000 of IOCL spend a calendar month, and each transaction's settlement must fall between ₹400 and ₹4,000
- Base earn is 1 EDGE REWARD Point per ₹100 — 0.2% at the ₹0.20 EDGE portal rate this card actually redeems at
- No lounge access of any kind
- Insurance, gold and jewellery, wallet loads, rent, utilities, government spends and education earn nothing at all
- Redeeming costs ₹99 per transaction on the EDGE REWARDS platform
- The fuel-surcharge waiver is capped at ₹50 a statement cycle, and the GST charged on the surcharge is never refunded
- Forex is 3.5% with a dynamic-currency-conversion markup that went 1.5% → 3.5% on 28 Aug 2026 on top; 1% surcharges apply on rent, on wallet loads above ₹10,000, on fuel above ₹50,000, on utilities above ₹25,000 and on gaming above ₹10,000 a statement period
- Axis has revised this card's Terms & Conditions with effect from 28 August 2026 — the notice sits on the product page itself
What these points actually fly
You hold this — the numbers below are your own points.
These points feed 25 programmes that publish an award chart. Cheapest verified seat per cabin, priced in YOUR points with this card's own ratio already applied:
- Bengaluru → Colombo Economy 32,500 Axis EDGE Reward Points via Avios (BA / Qatar / Finnair) at 5:1 the play
- Chennai → Colombo Business 70,000 Axis EDGE Reward Points via Avios (BA / Qatar / Finnair) at 5:1 the play
- Mumbai → Delhi First 500,000 Axis EDGE Reward Points via Air Canada Aeroplan at 20:1 the play
What earns, what doesn't
10 sourced rules · 8 pay zero
Base is 1 EDGE REWARD Point per ₹100, and Axis prices a point on this card at ₹0.20 — its own copy calls 20 points per ₹100 "4% value back", which only works at that rate. Two accelerators, each with a ₹5,000-a-CALENDAR-MONTH eligibility ceiling rather than a points cap, and a published exclusion list that is stated as spend CATEGORIES rather than as MCCs — unlike the IndianOil Premium sibling, which still quotes four-digit codes.
- Rent & property management · excluded No EDGE REWARDS at all — rent is on Axis's published exclusion list for this card — and a 1% + GST fee applies to every rent transaction. Rent is also stripped from the ₹3,50,000 annual-fee waiver count
- Wallet loads · excluded No EDGE REWARDS, excluded from the fee-waiver count, and 1% + GST above ₹10,000 of cumulative wallet loads a statement period
- Fuel · capped 20 EDGE REWARD Points per ₹100 at IOCL outlets — 4% at ₹0.20 a point — but only on the first ₹5,000 of IOCL fuel a calendar month, and only where the settlement amount falls between ₹400 and ₹4,000 (settlement meaning the original amount plus the fuel surcharge, plus the GST on that surcharge, which Axis levies at 18%). Accelerated points credit within 24 days. Fuel at a non-IOCL pump earns the 1-per-₹100 base. The 1% fuel-surcharge waiver runs on the same ₹400–₹4,000 settlement band and caps at ₹50 a statement cycle, with the GST on the surcharge non-refundable; a separate 1% fee applies above ₹50,000 of fuel a statement period
- Utilities (electricity/water/gas) · excluded No EDGE REWARDS — utilities are named on the exclusion list — and 1% + GST above ₹25,000 of cumulative utility spend a statement period
Does your spend count toward the fee waiver?
not published — and we say which
₹3,50,000 a year is the bar that waives the ₹500 fee. A different question from the one above — earning points and counting toward a threshold are separate rules, and issuers write them separately.
Not published. Axis Bank states what the IndianOil Axis Bank Credit Card earns and does not earn, but has not published which spend categories count toward the fee waiver — the ₹3,50,000 bar. We won't guess it from the earn table or from a sibling card: Axis published three cards' rules on one day and all three lists differed. If you hold this card and have it in writing from the issuer, send us the document and we'll source it.
Where the miles go
29 programs · 27 live
Ratios read card points : partner miles — 2:1 means 2 points become 1 mile. Never the other way round.
every Axis Bank route, side by side → · the Axis EDGE Reward Points hub →
Lounge access
0 of 793 tracked doors
No lounge access. This card opens exactly 0 of 793 tracked lounge doors — board with the crowd, or find a card that doesn't →
Can you get it?
income, age and the route in
The cutoffs and the actual route in — not the "apply now" button, the door that opens.
Direct application — no invite list, no banking relationship required.
Open to apply, with a live application flow on the product page. Axis publishes the eligibility in full and it is thin: 18–70 years of age for the primary cardholder, over 15 for an add-on, and either resident in India or an NRI. Documentation is PAN or Form 60, income proof (payslip, Form 16 or an ITR copy) and address proof. No income floor is published. The card carries a bank notice that revised its Terms & Conditions with effect from 28 August 2026.
per the official Axis Bank MITC — figures marked (community) aren't in the PDF; the issuer won't say · filter the board by what you can get →
The fine print
7 of 7 MITC rows published
What the MITC actually says — the rates, fees and cutoffs the brochure skips.
Two fee columns, NOT inverted: "Joining Fee ₹500" and "Annual fee — 1st Year: Nil, 2nd Year onwards: ₹500", so the card costs ₹500 to get and ₹500 a year to keep and joiningFee is deliberately unset. THE FEE FACT THAT SEPARATES IT FROM ITS SIBLING: the Axis Key Fact Sheet's Partnership Cards table waives this card's annual fee only on "Spends of INR 3,50,000 in the preceding year", where the adjacent INDIAN OIL Premium column waives at ₹30,000 — the two bars are printed side by side. Rent, wallet loads, EMI, cash, fees, GST and insurance are stripped from the waiver count. Earn: 20 EDGE REWARD Points per ₹100 at IOCL outlets (settlement between ₹400 and ₹4,000, first ₹5,000 of fuel a calendar month, credited within 24 days), 5 per ₹100 on online shopping (₹100–₹5,000 transactions, first ₹5,000 a month), and 1 per ₹100 on everything else. Axis calls 20 points per ₹100 "4% value back", which prices an EDGE REWARD Point on this card at ₹0.20, not the ₹0.40 house value — this card carries no partner-transfer column. Insurance, gold and jewellery, wallet, rent, utilities, government and education earn nothing. Fuel-surcharge waiver 1% on IOCL settlements of ₹400–₹4,000, max ₹50 a statement cycle, GST non-refundable. 1% surcharges on rent, on education via third-party apps, and on cumulative statement-period spends above ₹10,000 wallet / ₹50,000 fuel / ₹25,000 utilities / ₹10,000 skill-based gaming. No lounge access. Cash payment fee ₹175; card replacement, duplicate statement, charge-slip retrieval, outstation cheque, hotlisting and balance enquiry all nil or waived. Axis has revised this card's T&C w.e.f. 28 August 2026.
per the official Axis Bank MITC · reviewed 10 Jul 2026
What's changed for this card
8 dated changes
Devaluations and buffs that touch this card directly, its issuer, or the points and programs it earns and transfers to. Every one is dated here; the tracker carries each one's before → after and the write-up.
- 15 Nov 2026The Reserve's memberships stop renewing unless you say yesClub ITC Culinaire, Accorplus, handcrafted Club Marriott Asia Pacific, EazyDiner Prime and Priority Pass renewed automatically each year for as long as the card was open → From 15 Nov 2026 complimentary memberships linked to the card renew only with the cardholder's explicit consent — Axis says renewal and consent details will be shared closer to each renewal date. The same notice flips Priority Pass off at Indian domestic lounges from 28 Aug 2026 (present the Reserve card itself) and adds a ₹1,300 late-payment slab above ₹50,000 outstanding
The Reserve's whole defence of a ₹50,000 fee is the membership stack — Club ITC Culinaire with its free third night, Accorplus, handcrafted Club Marriott Asia Pacific, EazyDiner Prime, and the unlimited Priority Pass. Axis's own Reserve revision notice says that from 15 November none of them renew unless you actively consent. Framed as a choice, it works as breakage: the failure mode of an opt-in is silence, and a cardholder who misses the renewal email keeps paying ₹50,000 for a card whose benefits have quietly lapsed. Reserve is on the same list as Select, Magnus, Magnus for Burgundy, Burgundy Private, Olympus and both Miles & More cards, so this is the whole Axis premium book learning the same trick. Two other things ride the notice: from 28 August the Priority Pass card stops opening Indian domestic lounges — you present the Reserve itself against Axis's own eligible-lounge list, and post-immigration lounges at Indian international terminals still count as international — and a fifth late-payment slab of ₹1,300 appears above ₹50,000 outstanding. Notably, the Reserve notice carries no dynamic-currency-conversion line at all while the bank-wide grid goes 1.5% → 3.5%, and the card's 1.5% foreign transaction fee is untouched.
- 1 Nov 2026Privilege's movie buy-one-get-one becomes a spend gate
- 1 Nov 2026IndiGo Axis Premium's movie BOGO grows a ₹25,000 spend gate
- 1 Nov 2026The movie-BOGO spend gate reaches My Zone too — ₹25,000 in the previous 3 months
- 1 Nov 2026NEO's BookMyShow discount grows a ₹25,000 spend gate
- 1 Oct 2026SELECT's ₹3L milestone stops counting the spends it never rewarded
- 23 Sept 2026Axis EDGE brings Accor back, drops ITC, and adds Cathay, Miles & More and HiltonAccor and Marriott off the grid since 2 April 2026; Club ITC live; no Cathay, Miles & More or Hilton → Accor live at the punished rates; ITC removed; Cathay, Hilton and Miles & More live; Marriott still gone
Axis's own Travel EDGE terms, re-read 25 September 2026, already show the grid that went live on 23 September. Accor ALL is back, and not at the old Atlas 1:2: EDGE Miles convert at 2:1 (Olympus 1:2) and EDGE Rewards at 5:1, with Magnus for Burgundy at 5:2 and only Burgundy Private still at 5:4. Club ITC is off the table. Three partners are new. Cathay Asia Miles sits on that same punished grid. Hilton Honors is the ordinary one: EDGE Miles 1:2, EDGE Rewards 5:2, Burgundy 5:4. Lufthansa Miles & More is the exception on Atlas, which converts 1:1 there while every other standard airline on that card is 1:2; the EDGE Rewards side of Miles & More is the ordinary 5:2. Marriott stays removed. Qatar Privilege Club was already back. Flying Blue, Air India and Qantas moved into Group A, which is the capped group. The Axis Rewards credit card's Amex network is advertised as joining-fee and annual-fee nil for a limited period; there is no separate Amex variant on this board, so that offer is not modelled as a fee change.
- 15 Sept 2026Wyndham splits its three flat free-night tiers into four
Every Axis Bank change we've dated → 38 events since 2019, 25 of them nerfs — worst year 2026.
Verified against Axis Bank's own documents on · the net-annual-value engine, at our house ₹/point
Every document behind this page — 2 of them, each with the day we read it
- official IndianOil Axis Bank Credit Card product page — 20 points per ₹100 at IOCL for "4% value back", 1 point per ₹100 base, the ₹3,50,000 waiver and the full fee table
- official Axis Bank Key Fact Sheet — INDIAN OIL Credit Card at joining ₹500, annual ₹500, waived on spends of ₹3,50,000 in the preceding year