IndianOil RBL Bank XTRA Credit Card – Benefits, Fees & Eligibility

Introduction

The IndianOil RBL Bank XTRA Credit Card, issued by RBL Bank, is a simple yet rewarding fuel-oriented credit card available on both MasterCard and RuPay networks. Positioned as a champion of mobility, it aims to offer significant savings on fuel expenses. Key differentiating benefits include the potential to earn up to 250 litres of free petrol annually, an impressive 8.5% valueback at IndianOil Fuel Stations, and the added convenience of RuPay network features like UPI linking and National Common Mobility Card (NCMC) capabilities.

Welcome Benefits

• Get 3,000 Fuel Points upon realization of the joining charge and making a transaction of ₹500 or more within the first 30 days of card issuance. These Fuel Points are worth ₹1,500.
• The Welcome Benefit is applicable only after the annual membership fee is paid.

Fees & Charges Breakdown

• Joining Fee: ₹1,500 + GST.
• Renewal Fee: ₹1,500 + GST.
• Spend-Based Waiver: The annual fee is waived if you spend ₹2,75,000 annually. This waiver benefit is applicable only if the annual fees is paid.
• Reward Redemption Fee: ₹99 + GST.
• Foreign Currency Markup: 3.5%.
• Interest Rates: 2.5% to 3.99% Per Month.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver of up to ₹200 each month.
• Cash Advance Charges: 2.5% of the cash amount or a minimum of ₹500.

Rewards & Cashback Structure

• Earning Rate:
  • Accelerated 15 Fuel Points on every ₹100 spent at IndianOil fuel stations (Maximum 2,000 fuel points per month), offering a reward rate of 7.5%.
  • 2 Fuel Points on every ₹100 spent on other purchases like shopping, dining, and everyday luxuries.
• Milestone Rewards:
  • Earn 1,000 Fuel Points on crossing a Quarterly Milestone of ₹75,000.
  • Spending ₹300,000 in a year can yield an additional 4,000 Fuel Points from milestone benefits.
• Reward Redemption:
  • 1 Fuel Point = ₹0.50 when redeemed for Xtra Rewards points at IndianOil Fuel Stations.
  • Cardholders can save up to ₹1,000 each month on fuel purchases, leading to yearly savings of ₹12,000 on fuel alone.
• Exclusions for Fuel Point Benefit, Quarterly Milestone, and Annual Fee Waiver: Purchases made under merchant categories such as Utilities, Insurance, Quasi-Cash, Railways, Real Estate/Rental, Education, Wallets/Service Providers, Government Services, Contracted Services, Cash, Miscellaneous, Bills2Pay, and EMI conversion of retail transactions (Split-N-Pay & EMI conversion requests placed at the time of making transactions at POS/Web/Mobile App), fees, charges & GST.
• RuPay UPI Transaction Exclusions: Offline UPI transactions under ₹2,000 done at small merchants (with turnover not more than ₹20 lakh during the previous financial year) on RBL Bank RuPay Credit Card will not be eligible for rewards points, voucher benefits, milestone benefits or any other product benefits, unless stated otherwise.

Travel, Lounge & Lifestyle Perks

• Domestic Lounge Access: None.
• International Lounge Access: None.

Credit Card Review

• Overall Verdict: The IndianOil RBL Bank XTRA Credit Card is solely focused on rewarding fuel spends made with the card, offering a high return of 7.5% on fuel purchases at IOCL outlets. While it excels in fuel benefits, it lacks other common credit card privileges.
• Pros:
  • Offers a high return of 7.5% on fuel purchases at IndianOil, which is a competitive rate among fuel cards.
  • Potential to save up to 250 litres of free petrol annually.
• Cons:
  • Fails to offer additional benefits such as airport lounge access, dining discounts, or accelerated reward points for other spending, unlike some other fuel credit cards in the same segment.
  • Some users have reported issues with redeeming Fuel Points at IndianOil outlets due to lack of support at many fuel stations.

Important Product Details

• The IndianOil RBL Bank XTRA Credit Card is a fuel-oriented credit card designed to maximize savings on fueling expenses made with IndianOil.
• Fuel points are worth up to 250 litres of free petrol annually.
• The card is available on MasterCard & RuPay networks.
• For Credit Cards issued on the RuPay network, enjoy the features of National Common Mobility Card (NCMC) and RuPay Credit Card on Unified Payment Interface (UPI).

Other Details

• Fuel Surcharge Cap: The 1% fuel surcharge waiver is capped at ₹200 each month.
• Bills2Pay: This is a facility provided by RBL Bank where Cardmembers can pay various utility bills via RBL MyBank App/Internet banking channel.
• Redemption Process at IndianOil Stations:
  • Press ‘#’ on the POS Machine.
  • Select ‘Instant Redeem’.
  • Under Select Program, choose ‘XTRAREWARDS’.
  • Click ‘OK’ to enter your mobile number for ‘XTRAREWARDS’.
  • Click ‘OK’ and enter your mobile number.
  • Enter the redemption amount.
• Legal Disclaimers/T&C: Detailed terms and conditions, Frequently Asked Questions (FAQs), Most Important Terms and Conditions, Cardmember Agreement, and Schedule of Charges are available via official bank channels.
• Grievance Redressal: In case of any grievance, contact cardservices@rbl.bank.in. For further complaints, contact the designated nodal officer.
• RBI Sachet Portal: Information regarding the RBI Sachet Portal is available.