Revision of indian oil axis bank cc features

Revision of INDIANOIL AXIS BANK Credit Card Terms and Conditions With effect from 20th April ‘24, following revisions will be applicable on your INDIANOIL AXIS BANK Credit Card: 

1. Revision of welcome benefit

•   The customer can earn EDGE REWARD Points worth up to Rs. 250 (Max 1250 EDGE REWARD Points) on first fuel transaction with the Credit Card within the first 30 days of card issuance. 
• This is a one-time only offer and is valid only for first 30 days of card issuance. 
• Customers will earn EDGE REWARD Points worth equivalent to the value of first fuel transaction. Examples, Fuel Transaction within 30 days from card issuance EDGE REWARD Points Rs. 100 Rs. 250 500 1250 Rs. 500 1250
• The welcome benefit offer is applicable only on primary card and not on add-on cards. 
•  Transactions made on add-on card won’t be considered for the offer.  Offer is applicable on fuel purchases only. Fuel transactions will be identified by MCC 5541, 5542, 5983 
• EDGE REWARD Points will be processed within 30 days of eligible transaction.

2. Revision of accelerated earn of IndianOil Fuel Transactions 

• Customers will earn 20 EDGE REWARD Points per Rs.100 spent on fuel transactions at IndianOil fuel outlets.  Fuel transactions between Rs. 400 to Rs.4000 will be eligible. 
•  For this feature, maximum accelerated EDGE REWARD Points that can be earned per statement month will be 1,000. 
• Fuel transactions will be identified by MCC 5541, 5542, 5983 3. Revision of spends based fee waiver 
• Spends based fee waiver of annual fee will be provided on making eligible spends of Rs. 3.5 Lac or more in a card anniversary year 
•  Rent, wallet, insurance, EMI transactions, cash withdrawals, fee, charges and GST, reversals, temporary credit and reversal of temporary credit for a disputed transaction will not be considered eligible for spend based fee waiver Only transactions settled and posted in the respective card anniversary year shall be considered 4. Fuel surcharge waiver: 
• 1 % fuel surcharge waiver on all fuel outlets across India shall be provided 
• Maximum waiver: Rs.50 per statement month  Fuel transactions between Rs. 400 to Rs. 4000 will be eligible  Waiver on GST component of the surcharge will not be provided 
•  Fuel transactions will be identified by MCC 5541, 5542, 5983 
• Fuel surcharge and fuel surcharge waiver shall be applicable on UPI transactions done on the credit card 5. Other terms and conditions 
• Customers can avail up to 15% discount up to Rs. 500 per month on dining via EazyDiner. Min transaction size is Rs. 2,500. Valid once per card per month for a max discount of Rs. 500 
• Redemption fee will be applicable on all redemptions as follows, a) Miles/Points transfer: A fee of Rs.199 plus GST per transaction will be applicable. b) Other redemption channels: A fee of Rs.49 plus GST will be applicable on redemptions up to 10,000 EDGE REWARD Points and Rs. 99 plus GST will be applicable on redemptions greater than 10,000 EDGE REWARD Points  Spends done on to rent, wallet, insurance, gold/jewelry, utilities, and government spends transactions will not be eligible for earning EDGE REWARD Points. Category Insurance Merchant Category Code (MCC) Gold/Jewelry 5960, 6300 6381, 6051, 6012 5094, 5944 Wallet Rent 6540 6513 Utilities Government Institutions 4814, 4816, 4899, 4900 9222, 9311, 9399, 9402 6.