When fuel prices keep climbing, finding a credit card that gives strong rewards on petrol itself (rather than just general shopping) is a smart move. In this RBL Bank IndianOil XTRA credit card review, we’ll uncover how it can turn your fuel spends into real savings. What kind of value does it give? Are the fees worth it? What traps should you watch out for?
RBL Bank IndianOil XTRA Credit Card Review: Quick Overview
| Feature | Detail |
|---|---|
| Card issuer | RBL Bank in partnership with IndianOil (IOCL) |
| Annual fee (joining & renewal) | ₹1,500 + GST |
| Welcome bonus | 3,000 Fuel Points on spending ₹500 within first 30 days & paying the joining fee |
| Best for | People who refuel frequently at IndianOil pumps and want maximum rewards on fuel |
RBL Bank IndianOil XTRA Credit Card Review: Key Benefits
Cashback/Rewards
- On fuel purchases at IndianOil (IOCL) stations: the card gives 15 Fuel Points per ₹100 spent, with a cap of 2,000 Fuel Points per month.
- On other purchases (shopping, dining, etc): 2 Fuel Points per ₹100 spent (on eligible categories)
- The value: 1 Fuel Point = ₹0.50 when redeemed at IOCL fuel outlets. That makes the effective value-back on fuel ~7.5% from points alone.
- Add to that the 1% fuel surcharge waiver (up to ₹200 per month) on fuel transactions of ₹500 to ₹4,000. That brings the total “valueback” on IOCL fuel to ~8.5% for many users.
- There are milestone bonuses: if you spend ₹75,000 in a calendar quarter, you earn 1,000 extra Fuel Points. Over a year, hitting all quarters gives up to 4,000 extra points.
Thus, for heavy fuel users who also spend elsewhere, the rewards can stack.
Travel Benefits
This is not a travel-centric card. There is no complimentary airport lounge access, no travel insurance, no global perks beyond fuel. Many RBL Bank IndianOil XTRA credit card reviews call this a miss for a card charging a premium fee.
Shopping/Partner Offers
There are no standout shopping or tie-ups (like discounts on e-commerce, dining deals) officially disclosed beyond the fuel points for general spends. The big draw is fuel.
EMI/Big Spend Perks
While the terms and conditions mention EMI/split-pay conversions are excluded from earning fuel points, there’s no special extra benefit (e.g. bonus rate) for using EMI or making large purchases.
RBL Bank IndianOil XTRA Credit Card Review: Fees and Charges
Annual Fee (and waiver conditions)
- The joining & renewal fee is ₹1,500 + GST.
- This fee is waived if you spend ₹2,75,000 (i.e. ₹2.75 lakh) in the previous year.
- Milestone rewards do not count spends from excluded categories toward this waiver.
Interest rate (APR)
- The finance charge is up to 3.99% per month, which works out to ~47.88% per annum.
- That is high (common among credit cards in India), so carrying a balance is expensive.
Late fee, cash advance, etc.
- Late payment charges: Up to 12.5% of the outstanding (with min ₹5, max ₹1,300)
- Cash advance / cash withdrawal: 2.5% of the amount or a minimum of ₹500 (whichever is higher)
- Foreign exchange / cross-border markup: Not a strong use case (since benefits are fuel-centric), but standard FX markups apply (check with RBL).
- Some categories are excluded from rewards (so they are “dead” spends): utilities, insurance, education, rentals, government services, wallet top-ups, EMI conversions etc.
- Also, for the RuPay version, offline UPI transactions under ₹2,000 at small merchants are not eligible for reward points or milestone benefits.
RBL Bank IndianOil XTRA Credit Card Review: Pros and Cons
Pros
- Up to 8.5% valueback on IOCL fuel (points + surcharge waiver)
- Rewards even on non-fuel spends (though at a lower rate)
- Welcome bonus that covers a big portion of the joining fee (3,000 Fuel Points = ₹1,500 value)
- Milestone bonuses help boost returns for consistent spenders
- Fuel surcharge waiver (1%) for many fuel transactions adds extra benefit
Cons
- High annual fee which is steep if you don’t hit the waiver threshold
- No travel perks, lounge access, insurance, or lifestyle benefits (for that price, some other cards offer more)
- Some users report delays or inconsistencies in points crediting or portal display glitches.
- To reach the waiver, you must spend beyond fuel (because fuel alone may not suffice) — that dilutes your effective rewards.
- Many categories are excluded from earning rewards (utilities, insurance, education, etc.)
Who Should Apply for RBL Bank IndianOil XTRA Credit Card?
Best for:
- Drivers who refuel often at IndianOil (IOCL) pumps
- People who can maintain high monthly spends (so they can hit the ₹2.75 lakh annual waiver)
- Users who already use one card for shopping and want a dedicated card for fuel
- Those comfortable redeeming points only at fuel pumps (not wanting cashback or statement credit)
Not ideal for:
- People who fuel at mixed brands (BPCL, HPCL, etc.) far more than IOCL
- Someone seeking perks like lounge access, travel perks, purchase insurance
- Low spenders who will not hit the waiver threshold
- Users whose major spends lie in excluded categories
How to Apply for RBL Bank IndianOil XTRA Credit Card
Eligibility criteria
While the full criteria is set by RBL Bank, generally:
- Age: Must be legally an adult (18 or above; often 21+)
- Regular income (salaried or self-employed) meeting RBL’s minimum
- Good credit history / credit score
- Must satisfy KYC (address, identity proof)
Documents required
Usually:
- Identity proof (Aadhaar card, passport, driver’s licence etc.)
- Address proof (utility bill, voter ID, passport etc.)
- Income documents (salary slips, ITR, bank statements etc.)
- PAN card
How to apply
You can apply via RBL Bank’s official site (Credit Cards → IndianOil XTRA)
Alternatively, apply via credit-card marketplaces or via your bank’s portal (if RBL is linked).
FAQs about RBL Bank IndianOil XTRA Credit Card
1. When will I get the welcome bonus points?
The 3,000 Fuel Points are credited if you pay the joining fee and make a purchase of ₹500 or more within 30 days. (Though some users report delays, so monitor your rewards after 1–2 billing cycles.)
2. Can I redeem Fuel Points anywhere apart from IOCL pumps?
Primarily, redemption happens via XTRAREWARDS at participating IOCL fuel pumps.
Points may also be redeemable via RBL’s rewards portal (but at a lower value).
3. Do all purchases earn rewards?
No. Many categories are excluded: utilities, insurance, government, education, rental, wallet top-ups, EMI conversions, etc.
4. What happens if I don’t hit ₹2,75,000 spend in a year?
You will have to pay the annual fee (₹1,500 + GST) during renewal.
5. Can fuel surcharge waiver and points stacking happen together?
Yes. You will get the 1% waiver (capped) plus points on eligible fuel purchases.
RBL Bank IndianOil XTRA Credit Card Review: Verdict
If you drive often, fills up regularly at IndianOil pumps, and maintains good overall spends, the RBL Bank IndianOil XTRA Credit Card can deliver strong value of up to 8.5% effective reward on fuel (points + surcharge waiver). The welcome bonus and milestone bonuses make it one of the best fuel credit cards.
However, one must be realistic. The ₹1,500 annual fee is steep unless you hit the waiver threshold. Also, lack of lifestyle perks (travel, lounges, etc.) makes it less appealing as a “do-all” card. And if your spending is mostly in excluded categories or your fuel usage is split across multiple petrol brands, the returns weaken.
For an IOCL loyalist with good spend power, this card is likely to pay for itself. For others, it might feel too narrow or too costly.
