HDFC IndianOil Credit Card: In today’s fast-paced world, having a credit card that offers substantial rewards and benefits can be a game-changer for your financial management.

The HDFC IndianOil Credit Card is designed specifically for those who want to maximize their savings on fuel purchases while enjoying other perks.

In this article, we will delve into the benefits, features, and fees associated with the HDFC IndianOil Credit Card for 2024.

Benefits of HDFC IndianOil Credit Card

1. Fuel Savings:

• Turbo Points: Earn 5% back as Turbo Points on fuel purchases at IndianOil outlets. These points can be redeemed for free fuel at IndianOil petrol pumps.
• Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver on transactions up to ₹5,000 per month, making your fuel expenses even more economical.

1. Reward Points:

• Earn 2 Turbo Points for every ₹150 spent on groceries, utilities, and bill payments.
• Earn 1 Turbo Point for every ₹150 spent on all other categories, ensuring you get rewarded for every transaction.

1. Welcome Benefits:

• As a welcome gift, receive up to 2,500 Turbo Points when you complete your first fuel transaction within the first 90 days of card issuance.

1. Annual Fee Waiver:

• Enjoy an annual fee waiver if you spend ₹50,000 or more in a year, making the card essentially free for high spenders.

Features of HDFC IndianOil Credit Card

1. Contactless Payments:

• The card supports contactless payment technology, allowing you to make quick and secure transactions with just a tap.

1. EMI Conversion:

• Convert your high-value purchases into easy monthly installments at competitive interest rates, providing flexibility in managing your expenses.

1. Fuel Redemption:

• Redeem your accumulated Turbo Points for free fuel at over 25,000 IndianOil outlets across India.

1. Global Acceptance:

• The card is accepted worldwide, enabling you to use it for both domestic and international transactions without any hassle.

1. Easy Bill Payments:

• Simplify your bill payments with the SmartPay feature, which allows automatic payment of utility bills, mobile bills, and more.

1. Enhanced Security:

• Enjoy enhanced security features like an embedded EMV chip, which provides added protection against card cloning and fraud.

Fees & Charges of HDFC IndianOil Credit Card

1. Joining Fee:

• The joining fee for the HDFC IndianOil Credit Card is ₹500, which is waived upon spending ₹20,000 within the first 90 days of card issuance.

1. Annual Fee:

• An annual fee of ₹500 is charged from the second year onwards. However, this fee is waived if you spend ₹50,000 or more in the previous year.

1. Interest Rate:

• The interest rate on this credit card is 3.49% per month (41.88% per annum) on revolving credit. Ensure timely payments to avoid interest charges.

1. Cash Advance Fee:

• A cash advance fee of 2.5% of the transaction amount (minimum ₹500) is applicable when you withdraw cash using your credit card.

1. Late Payment Fee:

• The late payment fee ranges from ₹100 to ₹1,300, depending on the outstanding amount. It’s advisable to pay your dues on time to avoid these charges.

1. Over-limit Fee:

• An over-limit fee of 2.5% of the over-limit amount (minimum ₹500) is charged if you exceed your credit limit.

HDFC Indian Oil Credit Card Network

When it comes to the HDFC IndianOil Credit Card, cardholders have the flexibility to choose between different card networks, including Visa, RuPay, and MasterCard. Each of these networks offers unique advantages and widespread acceptance, ensuring that your card is useful both domestically and internationally.

With the Visa and MasterCard networks, you benefit from global recognition, making it easier to use your card for transactions around the world, whether you’re shopping online or traveling abroad.

On the other hand, the RuPay network, which is an Indian payment system, provides the added advantage of being tailored to the local market, often offering additional benefits on domestic transactions and potentially lower transaction fees.

Regardless of the network you choose, the HDFC IndianOil Credit Card ensures you receive excellent fuel savings and rewards, making it a versatile and valuable tool in your financial arsenal.

To apply for the HDFC IndianOil Credit Card, applicants need to meet specific eligibility criteria. These criteria ensure that the card is issued to individuals who can effectively manage and benefit from the card’s features. Here are the key eligibility requirements:

Eligibility Criteria for HDFC IndianOil Credit Card

1. Age:
   • Primary Cardholder: The applicant must be at least 21 years old and should not exceed 60 years of age.
   • Add-on Cardholder: Must be at least 15 years old.
2. Employment Status:
   • The applicant can be a salaried employee, self-employed professional, or businessman.
   • Salaried Individuals: Should have a stable job with a reputable organization.
   • Self-employed: Must have a stable business with a verifiable income source.
3. Income:
   • The applicant must meet the minimum income criteria set by HDFC Bank, which may vary based on the applicant’s location and occupation.
   • Salaried Individuals: Typically, the minimum monthly income required is around ₹20,000.
   • Self-employed Individuals: The income requirements may vary and generally, a minimum annual income of ₹3 lakh is expected.
4. Credit Score:
   • A good credit score is crucial for approval. A score of 700 or above is generally considered favorable.
   • Applicants with a lower score might need to provide additional documentation or meet higher income criteria.
5. Residential Status:
   • The applicant must be an Indian resident or a Non-Resident Indian (NRI).
6. Other Requirements:
   • A valid identity proof (such as Aadhaar card, PAN card, passport, or driver’s license).
   • Address proof (such as utility bills, rental agreement, or any other document accepted by the bank).
   • Recent passport-sized photographs.
   • Proof of income (such as salary slips, income tax returns, or bank statements).

How to Apply for HDFC IndianOil Credit Card?

Online Application

1. Visit the HDFC Bank Website:
   • Go to the official HDFC Bank website and navigate to the credit cards section.
2. Select the IndianOil Credit Card:
   • Browse through the list of available credit cards and select the HDFC IndianOil Credit Card.
3. Click on “Apply Now”:
   • Click on the “Apply Now” button to start the application process.
4. Fill in the Application Form:
   • Enter your personal details such as name, date of birth, mobile number, email address, and residential address.
   • Provide your employment details and income information.
5. Submit the Required Documents:
   • Upload the necessary documents, including identity proof, address proof, income proof, and a recent photograph.
6. Review and Submit:
   • Review all the entered details for accuracy and submit the application form.
7. Verification:
   • After submission, HDFC Bank will verify your application and the provided documents.
   • You might receive a call from the bank for further verification.
8. Approval and Dispatch:
   • Once your application is approved, you will receive the credit card at your registered address within a few working days.

Offline Application

1. Visit the Nearest HDFC Bank Branch:
   • Locate and visit the nearest HDFC Bank branch.
2. Collect the Application Form:
   • Request an HDFC IndianOil Credit Card application form from the bank representative.
3. Fill in the Application Form:
   • Complete the application form with all the required details.
4. Attach the Necessary Documents:
   • Attach copies of the necessary documents such as identity proof, address proof, income proof, and a recent photograph.
5. Submit the Application Form:
   • Submit the completed application form and the attached documents to the bank representative.
6. Verification:
   • The bank will verify your application and documents.
   • You might be contacted for additional information or verification.
7. Approval and Dispatch:
   • Upon approval, the bank will send your HDFC IndianOil Credit Card to your registered address.

Conclusion

The HDFC IndianOil Credit Card is an excellent choice for those who frequently spend on fuel and want to enjoy rewards on their everyday purchases.

With its attractive benefits, such as Turbo Points on fuel transactions, fuel surcharge waiver, and various other perks, it stands out as a valuable addition to your wallet.

Moreover, the flexible fee structure and enhanced security features make it a reliable and cost-effective option for managing your finances.

Consider the HDFC IndianOil Credit Card for 2024 to maximize your savings and enjoy a rewarding credit card experience.