Okay, so you fill up at Indian Oil a lot, right? Then you've probably heard about the IndianOil RBL Bank XTRA RuPay Credit Card as it emerges as a game-changer for frequent drivers and commuters. Basically, it's a credit card that gives you sweet deals every time you hit the pump. In this blog, we’ll dive deep into its features, benefits, fees, and eligibility criteria to help you decide if it’s the perfect fit for your lifestyle. Plus, we'll be real about any downsides. Let's see if this card is actually worth it for you.
Welcome Benefits
One of the standout features of the IndianOil RBL Bank XTRA RuPay Credit Card is its impressive welcome offer. When new users receive their card, they can enjoy a substantial bonus of up to 3,000 reward points by shopping for INR 500 in one transaction within 30 days of the card issuance.
This initial boost not only kickstarts a rewarding journey but also provides immediate value, creating a positive first impression for users right from the start.
Reward Benefits
The reward program designed for this credit card maximizes the earning potential of users. Whenever cardholders fill up at IndianOil stations, they earn 15 accelerated fuel points for every ₹100 spent. This translates to a reward rate of approximately 7.5% on fuel purchases, significantly higher than many standard credit cards offering rewards. Users can earn upto 2,000 accelerated fuel points in a month.
Furthermore, users earn 2 fuel points for every INR 100 spent on transactions such as shopping, dinning, which translates to a cashback rate of 1%. This incentive encourages consumers to maximize their spending on everyday purchases, as each transaction contributes to their accumulation of fuel points. These points can later be redeemed for fuel purchases at participating petrol stations, making it a practical and beneficial reward system for those who frequently use vehicles.
Milestone Benefits
Beyond everyday rewards, the IndianOil RBL Bank XTRA RuPay Credit Card provides milestone benefits as an additional incentive for consistent spending. Cardholders can earn 1,000 fuel points on crossing the quarterly milestone of INR 75,000.
These milestones encourage users to spend more thoughtfully and create a sense of achievement as they reach goals that provide tangible rewards.
Fuel Surcharge Benefits
A major hallmark of this credit card is the fuel surcharge exemption. Cardholders benefit from a waiver on fuel surcharges at IndianOil petrol stations, which generally hover around 1% of the fuel bill. This can lead to significant savings. For example, if a user fills their tank for ₹3,500, the typical surcharge would be ₹35; with this card, they don't pay this extra fee. IndianOil RBL Bank XTRA RuPay Credit Card provides fuel surcharge waiver of up to INR 200 per month, so if we combine fuel cashback and fuel surcharge waiver, cardholders can earn upto 8.5% cashback on fuel transactions.
UPI Payments
Users can link their RuPay credit card directly to their UPI app and can make UPI transactions using this credit card. You can link your IndianOil RBL Bank XTRA RuPay Credit Card to UPI is a simple process. Here's a guide to help you:
Step 1: Open your UPI app.
Step 2: Look for the "Add Credit Card" or "Link Credit Card" option.
Step 3: Select RBL Bank as your issuing bank.
Step 4: Enter your credit card details and complete the verification process.
Step 5: Set your UPI PIN.
Step 6: Start using your RBL Bank RuPay Credit Card for UPI payments
Drawbacks
While the IndianOil RBL Bank XTRA RuPay Credit Card offers a host of benefits, it’s important to consider its potential downsides before making a decision:
Annual Fee: The card comes with an annual fee of INR 1500, which may not appeal to users who don’t spend enough to offset this cost. If you’re not a frequent spender or fuel user, the fee might outweigh the rewards.
High Interest Rates: With interest rates on unpaid balances reaching upwards of 47.88%, carrying a balance on this card can quickly become expensive. Timely payments are crucial to avoid accumulating significant debt.
Limited Reward Redemption Options: While the card offers attractive fuel points, the rewards are primarily tied to fuel purchases at IndianOil outlets. This limits flexibility for users who may prefer more versatile redemption options for their rewards.
Focus on Specific Spending Habits: The card’s rewards and benefits are heavily skewed toward fuel purchases and specific spending patterns. If your spending doesn’t align with these categories, you may not fully maximize the card’s potential.
Capped Rewards: While the card offers accelerated fuel points, there’s a monthly cap of 2,000 points. Heavy spenders might find this limit restrictive, especially if they frequently exceed the cap.
Fees and Charges
Joining fee: INR 1500/- plus taxes.
Annual fee: INR 1500/- plus taxes, waived if the user spends more than INR 2,75,000 per year.
Foreign currency markup: 3.50%.
Cash advance fee: 2.5% or INR 500, whichever is higher.
Late payment charges: INR 100 to 1300.
Reward redemption fee: INR 99 per redemption request.
Interest rate: 3.99% monthly, 47.88% annually.
Final Thoughts
Overall, the IndianOil RBL Bank XTRA RuPay Credit Card is a solid choice for fuel credit card users, especially loyal customers of IndianOil. With its attractive welcome offers, excellent reward potential, and beneficial milestone incentives, the card is designed to enhance the user experience for active cardholders.
Nonetheless, the associated fees and requirements should be carefully considered to ensure that the card aligns with individual financial goals. By taking into account all these factors, potential users can make a well-informed decision about whether this credit card suits their needs.
If you want to read a more detailed review of this card and find out its AI-powered unbiased rating, visit MyRupaya.
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