One of the biggest monthly expenditures that individuals face is fuel costs. When one uses a vehicle to travel daily, fuel costs can add up quickly. As a result, many individuals have turned their attention to fuel credit cards that allow individuals to receive rewards with their fuel purchases.
One of the fuel credit cards that has remained popular among drivers is the IndianOil Citi Platinum Credit Card. This card is the result of a partnership between IndianOil and Citibank. Essentially, this is a card that is designed for individuals who use their cards frequently to purchase fuel.
The key benefits of IndianOil Citi Platinum Credit Card that make it appealing to drivers include the rewards that one can receive, the lack of a joining fee, and the points that do not expire.
Why the IndianOil Citi Platinum Credit Card Is Popular
While many credit cards offer rewards for travel or for purchases made over the Internet, the IndianOil Citi Platinum Credit Card rewards the user for something they use regularly—petrol or fuel for their vehicles.
Every time the user fills up their car at a fuel station, they earn points. These points can then be accumulated and used to purchase fuel or other products. This is why the IndianOil Citi Platinum Credit Card is a very good card for people to use, as they earn points for their fuel purchases and can use these points to purchase fuel for their vehicles, provided they use the card regularly. This way, they earn the value of up to 71 liters of fuel for their vehicles over a period of a year.
Another advantage of using the IndianOil Citi Platinum Credit Card is the fuel surcharge waiver.
How Turbo Points Work
The reward system of this card works in terms of Turbo Points. Whenever you are making purchases with this card, you earn a certain number of points depending on your spending category.
| Spending Category | Turbo Points Earned |
|---|---|
| Fuel purchase at IndianOil outlets | 4 Turbo Points for every ₹150 |
| Grocery and supermarket purchases | 2 Turbo Points for every ₹150 |
| All other spending | 1 Turbo Point for every ₹150 |
The best part of this reward system is that Turbo Points do not expire. This means you can earn a number of points for a very long time and then redeem them when you want to.
While redeeming your Turbo Points for fuel purchases, 1 Turbo Point equals ₹1.
Welcome Benefit for New Cardholders
As you receive your credit card, you will also receive a small bonus for activating the card.
If you use your credit card within 30 days, you will be given 250 Turbo Points as a welcome reward.
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Rewards on Everyday Spending
Even though this card focuses on fuel savings, it still rewards other daily expenses.
Spending on groceries, supermarkets, and regular purchases also earns Turbo Points. Over time, this helps users build their reward balance faster.
You can redeem these points for several options such as:
- Fuel at IndianOil outlets
- Online shopping
- Gift vouchers
- Travel bookings
- Air miles
- Cashback against credit card bills
Because the points never expire, users can wait and redeem them when it feels most useful.
Dining, Travel and Lifestyle Offers
Cardholders also get access to various seasonal offers and partner deals.
Many restaurants offer discounts of up to 20% on dining when you pay with the card.
Travel deals are also available from time to time, including discounts on domestic and international flight bookings. There are also offers on hotel bookings and airport dining at selected airports.
These extra benefits add value to the card beyond fuel savings.
Fees and Charges
The cost of using the IndianOil Citi Platinum Credit Card is fairly simple compared with many other credit cards.
| Charges | Amount |
|---|---|
| Joining Fee | Nil |
| Annual Fee | ₹1000 + taxes |
| Annual Fee Waiver | On spending ₹30,000 in a year |
| Cash Advance Fee | 2.5% of transaction amount |
| Over Limit Fee | 2.5% of amount over limit |
| Foreign Currency Markup | 3.5% |
If you spend ₹30,000 or more in a year, the annual fee is waived. For most cardholders, this spending amount is easy to reach through normal usage.
Eligibility Criteria
To apply for the IndianOil Citi Platinum Credit Card, applicants must meet certain requirements.
| Requirement | Details |
|---|---|
| Age | 23 to 60 years |
| Citizenship | Must be an Indian citizen |
| Minimum Monthly Income | Around ₹25,000 |
| Credit Score | Good credit history required |
Add-on cardholders must be 18 years or older.
Applicants also need to provide basic documents such as identity proof, address proof, and income proof.
Documents Required
Applicants need the following documents while applying:
- Identity Proof (Aadhaar Card, PAN Card, Passport, etc.)
- Address Proof
- Salary Slips for the past few months for salaried personnel.
- Income Tax Return for self-employed personnel.
These documents will help the bank verify the financial background of the applicant before issuing the card.
How to Apply for the IndianOil Citi Platinum Credit Card
Applying for the card is easy. The process is online-based.
The first step is to provide basic details such as your name, occupation, and monthly income to check your eligibility. Once your eligibility is checked, you can proceed to apply for the card.
After filling out your application form, your application is reviewed, along with your credit history. Once your application is approved, your credit card is delivered to your address.
Credit Limit and Responsible Use
The credit limit of the credit card depends on three main factors:
- Your income level
- Your credit score
- Your repayment history
- A higher income level and credit score can result in a higher credit limit.
Experts recommend the use of only 30-40% of the credit limit to maintain a good credit score.
Analysis: Is This Card Right for You?
Who should apply?
- The Daily Commuter: If your monthly fuel expenses run into more than ₹5,000, then the 4% value back makes it a “must-have” tool.
- The Grocery Coach: By moving your grocery expenses to this card, you are subsidizing your fuel expenses.
- The Fee-Averse User: Given that the ₹30,000 is a low amount, this card can essentially become a “Lifetime Free” card for you.
The Future Outlook
Given that Axis Bank is now at the helm, we anticipate that there will be greater integration with the Axis EDGE Rewards portal. This means your “Turbo Points” can potentially be used to redeem a variety of vouchers, products, or even airline mile transfers, making your “value per point” potentially more than the standard ₹1 equivalent.
My Honest Opinion After Using This Card
The IndianOil Citi Platinum Credit Card is a good option for people who regularly spend their money on fuel consumption. This is because fuel is a necessity for many drivers, and with the IndianOil Citi Platinum Credit Card, you are given the opportunity to turn your fuel consumption into rewards.
The fact that the card does not have a joining fee, rewards fuel consumption, has a waiver for surcharges, and does not have points that expire are just a few of the many benefits that the card has to offer.
If you are the type of person who regularly refuels at IndianOil petrol pumps, then the IndianOil Citi Platinum Credit Card is a good option to have around.
Frequently Asked Questions
You can use it at any pump in India. But the surcharge waiver and extra points only work at IndianOil pumps. At other pumps, you pay the normal surcharge.
You can check on your monthly credit card statement. Or send an SMS saying REWARDS followed by the last 4 digits of your card to 52484. You will get your points balance by message.
Call customer care immediately at 1860 210 2484. They will block your card so nobody can use it. Getting a new card costs ₹100.
Yes, you can apply for add on cards for your spouse, parents, or children above 18 years. They get their own card but the bill comes to you.
Usually within 5 to 7 working days after approval. Sometimes faster in big cities.
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