IndianOil HDFC Credit Card Review

Reward points on IndianOil HDFC Credit Card will be earned in the form of Fuel Points. Unlike other cards that usually promote rewards as number of points per Rs. X spent, this card gives Fuel Points as a percentage of the spending amount. Below mentioned are the details regarding the same:

• 5% of your spends at IndianOil outlets as Fuel Points (Max. 250 Fuel Points per month in first 6 months, Max. 150 Fuel Points post 6 months from card issuance)
• 5% of your spends as Fuel Points on grocery and bill payments (Max. 100 Fuel Points per month on each category)
• 1 Fuel Point for every Rs. 150 spent on all other purchases

So, for example, if you spend Rs. 2,000 on fuel at IndianOil Petrol Pump and make a utility bill payment of Rs. 2,500, you will earn a total of 200 Fuel Points.

• 5% of 2,000 = 100
• 5% of 2,500 = 150 (but the maximum earning is capped at 100 points), hence 100 points

The Fuel Points you earn on your HDFC Credit Card can be converted into IndianOil XTRAREWARDS^TM Points which can be used to purchase fuel at IndianOil petrol pumps. The rate of conversion is given below:

• 1 Fuel Point = 3 XRP
• 1 XRP = Re. 0.32

At the given rate, if you convert 1,000 Fuel Points into XRP, you will have 3,000 XRP and the monetary value of this XRP is Rs. 960. Hence, the actual value of your 1,000 Fuel Points is Rs. 960 which is quite a good deal. However, you must remember that the Fuel Points can only be converted in the multiples of 500 points which means that a minimum of 500 points will be needed for such conversion.

Please note that XRPs can only be used at selected IndianOil petrol pumps in the country. Though there are more than 20,000 participating fuel stations, you must call the customer care number of IndianOil or HDFC Bank to confirm it for a fuel station of your choice.

HDFC Bank claims that using the IndianOil HDFC Bank Credit Card, you can save an amount equal to the cost of 50 Litres of petrol (@Rs. 75 per Litre). The table given below shows a detailed description of how this calculation works:

Fuel Points earned in a year = 327*12 = 3,920
Fuel Points converted into XRP in 1:3 ratio = Rs. 11,760
Monetary value of XRP = Rs. 3,763
Cost of 50 litres of petrol @Rs. 75 per Litre = Rs. 3,750

Please note that this calculation is based only on assumptions. Depending on your expenses in each category, you can even get more free petrol than this or lesser.

IndianOil HDFC Credit Card also offers 1% fuel surcharge waiver on fuel transactions above Rs. 400. The maximum waiver in a billing cycle is capped at Rs. 250. Despite being associated with IndianOil, fuel surcharge waiver can be availed at all petrol pumps across the country.

Also read: Top Fuel Credit Cards in India

Apart from the rewards, you can also avail below-mentioned benefits via IndianOil HDFC Credit Card:

• Renewal fee waiver on spending Rs. 50,000 in a year
• Interest-free credit period of up to 50 days from the date of purchasing this credit card
• You can avail various offers on HDFC credit cards as listed in HDFC SmartBuy
• Zero lost card liability cover is offered on reporting the loss or fraudulent transaction immediately
• The card offers a convenient conversion of Fuel Points through net banking
• Using XTRAREWARDS^TM to pay for fuel is also easy with the instant redeem option
• You can track your XRP balance and manage it through IndianOil ONE mobile app

If you think IndianOil HDFC Credit Card is not a right option for you, then you can also look for the below-mentioned credit cards that offer benefits on fuel expenses:

IndianOil HDFC Bank Credit Card is surely among the best fuel credit cards in India but it is certainly not the best for everyone because of the following drawbacks:

• Fuel transactions made at petrol pumps other than IndianOil do not earn Fuel Points at the same rate
• The process of Fuel Point redemption is complicated. There is an unnecessary step of converting the points to XRP and then fuel while direct conversion could have been possible.
• There is no other way to redeem the Fuel Points, unlike other fuel cards where rewards can be utilized towards other items or vouchers too
• For a fuel credit card, the surcharge waiver capping is too low
• There are no benefits on travel, dining, shopping or other specific category
• Rewards are only valid for 2 years compelling you to keep redeeming at regular intervals. This way, you would not be able to accumulate rewards to get a substantial benefit.

IndianOil HDFC is a low annual fee credit card that offers good savings on your fuel expenses. However, this credit card is not for everyone. You should consider getting this card only if:

• Your monthly spending on fuel is high
• You do not like the idea of redeeming rewards for items from a catalogue
• You are not looking forward to any premium perks on travel or dining
• You prefer IndianOil petrol pumps over others
• You are looking for a low annual fee credit card

As a fuel credit card, IndianOil HDFC Bank Credit Card comes with an impressive rewards system and is certainly among the good ones in its category. The collaboration’s plan to source this card in non-metro cities is a great move towards encouraging digital payments in these towns. However, you should choose this if your only reason for getting a new credit card is to save on fuel as the card is not good for other categories.