Indian Oil Citi Credit Card 2024- Benefits, Features & FAQs

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Indian Oil Citi Credit Card

The Indian Oil Citi Credit Card is a co-branded credit card offered by Indian Oil Corporation Limited (IOCL) and Citi Bank. This card aims to provide maximum savings on fuel purchases to Indian Oil customers along with other benefits like reward points, cashback, and discounts. Read on to find out all the key details about the Indian Oil Citi Credit Card in this comprehensive guide.

An Overview of Indian Oil Citi Credit Card

The Indian Oil Citi Credit Card is a fuel-co-branded credit card launched in 2007 through a partnership between Indian Oil and Citi Bank. It is the first credit card in India to offer a fuel surcharge waiver which allows cardholders to buy fuel from Indian Oil outlets without paying any transaction charges. Let’s look at some of the key features and benefits of this card:

  • Save 5% on fuel purchases at Indian Oil petrol pumps across India
  • 1% fuel surcharge waiver on transactions between ₹500 – ₹4000
  • ₹150 OFF on a minimum transaction of ₹350 for new cardholders
  • Apart from fuel savings, the card also offers rewards on other spending
  • Welcome benefits like complimentary domestic airport lounge access
  • Fast rewards redemption at Indian Oil outlets
  • Lower fuel transaction fees compared to other cards
  • Global acceptance at over 40 million outlets worldwide

This card is perfect for regular users of Indian Oil fuel outlets and offers maximum savings on petrol, diesel, and other fuels. The fuel surcharge waiver benefit makes it stand out among other co-branded credit cards.

Citibank Indian Oil Credit Card Benefits

Here are some of the major benefits offered by the Indian Oil Citi Credit Card:

5% Fuel Savings

Cardholders get 5% cashback on fuel purchased at Indian Oil outlets subject to a minimum transaction of ₹500. This offers significant savings on your fuel expenses.

1% Fuel Surcharge Waiver

This card allows a waiver of a 1% fuel transaction surcharge for transactions between ₹500 to ₹4000 at Indian Oil outlets. So you effectively pay only a 2% surcharge instead of 3%.

₹150 Off on First Transaction

New cardholders get an instant discount of ₹150 applicable on the first fuel transaction worth ₹350 within 60 days of card issuance.

Turbo Rewards Points

You can earn Turbo Rewards Points on every ₹150 spent on the card which can be redeemed for fuel savings.

Air India Lounge Access

Cardholders get complimentary domestic airport lounge access at Air India lounges 4 times a year. Simply swipe your card to gain entry.

Global Acceptance

The credit card is accepted at over 40 million outlets across the globe giving you international shopping and payment flexibility.

Low Fuel Transaction Charges

The fuel transaction charge for this card is only 2% for transactions between ₹500 – ₹4000 which is lower compared to other cards.

Buy 1 Get 1 Free Movie Tickets

You can avail of complimentary movie tickets through BookMyShow using reward points. The offer is valid for 2 tickets per month.

5X Rewards Points on IT Spends

Get 5 times extra reward points on any online shopping done on BigBasket or MakeMyTrip using this card.

So in summary, the Indian Oil Citi Credit Card offers maximum savings and rewards for your fuel expenses along with benefits on other categories like movies, travel, dining, and more.

How to Apply for Indian Oil Citi Credit Card

Here is the step-by-step process to apply for the Indian Oil Citi Credit Card:

  1. Visit the Citi Bank Indian Oil co-branded credit card website and click on the ‘Apply Now’ button. Alternatively, you can also apply directly from the Citibank website or its mobile app.
  2. You will need to provide basic personal and professional details in the application form along with your income details, employment information, etc.
  3. Upload the required documents like identity proof, address proof, and photographs to complete your application.
  4. The application will then be submitted for verification and processing by Citi Bank. The process usually takes 2-3 weeks.
  5. If your application is approved, you will receive the credit card and you can activate it as soon as you receive it. The credit limit and other card details are communicated through email and SMS.

The eligibility criteria require you to be an Indian citizen aged 21-65 years with an income of at least ₹15000 per month. This card does not need any security deposit. Existing Citi Bank customers can get accelerated processing and approval.

Documents Required for Indian Oil Citi Credit Card

Here are the documents required to be submitted along with your Indian Oil Citi Credit Card application:

  • Passport size photograph
  • PAN card copy
  • Address proof (Aadhaar card, Voter ID, Driving License, etc.)
  • Salary slips for the last 3 months OR bank statements for the last 6 months
  • Copy of Form 16 in case of self-employed individuals

If you are applying based on your income, you need to provide relevant documents like salary slips, bank statements, etc. Those applying based on their spouse’s income need to provide all documents mentioned above for the spouse plus a marriage certificate.

Citibank also requires you to fill out a ‘Know Your Customer’ form providing your basic personal, educational, and professional details along with details of existing loans, credit cards, etc.

Features of Indian Oil Citi Credit Card

Apart from the benefits, the Indian Oil Citi Credit Card comes equipped with the following features:

  • Chip Card: The card comes embedded with an EMV chip for enhanced security and preventing fraudulent transactions.
  • Contactless Payments: Tap and pay feature allows you to make quick payments by just tapping the credit card at POS machines.
  • Account Management: You can access your account online and through the Citi Mobile app to manage payments, track rewards, millage, statements, etc.
  • International Usage: Use your credit card globally for shopping, dining, hotel bookings, etc, and avail of international travel benefits.
  • Alerts: Get SMS alerts for card transactions, bill generation, payment due dates, offers, and other services.
  • Zero Lost Card Liability: Report unauthorized transactions due to lost/stolen cards and get a complete waiver of any charges.
  • Emergency Services: Get 24×7 emergency assistance for lost/stolen cards, emergency credit line provision, and other services.

How to Redeem Indian Oil Citi Credit Card Rewards?

The Indian Oil Citi Credit Card offers a variety of reward redemption options:

  • Fuel Savings: Use reward points to get discounts on fuel purchases at Indian Oil petrol pumps. 2000 points = ₹100 fuel discount
  • Gift Vouchers: Convert reward points into gift vouchers from a collection of top retail brands.
  • Merchandise: Choose electronics, appliances, jewelry, holiday packages, and other products from the rewards catalog.
  • Air Miles: Transfer reward points into air miles programs of leading airlines.
  • Movie Tickets: Book complimentary movie tickets using reward points on BookMyShow.
  • Bill Payments: Settle credit card outstanding by redeeming reward points against the bill amount.
  • Charity: Donate reward points to charitable organizations like HelpAge India, WWF, etc.

Redemption is easy through online banking, mobile apps, customer service, or Indian Oil outlets. The fuel discount redemption option makes this card very convenient for customers.

Indian Oil Citi Credit Card Bill Payment

There are multiple ways to pay your Indian Oil Citi Credit Card outstanding bill amount:

  • Netbanking/Debit Card: Use Citibank’s online banking portal or mobile app to make bill payments from a bank account or debit card.
  • Auto-Debit: Set automated monthly bill deductions from your account to avoid late payments and interest charges.
  • ECS: Register for the Equated Monthly Installment (EMI) option to automatically deduct the minimum due amount from your account every month.
  • Cheque/Draft: Send a cheque or demand draft for the bill amount payable to ‘Citi Cards’ with your credit card number mentioned.
  • Cash: Visit the nearest Citibank branch or authorized collection agency to pay your bill amount through cash.
  • Reward Points: Redeem your accumulated reward points against the outstanding bill amount for free credit.

The bill payment due date is usually 25 days from the statement generation date. Pay the minimum due amount to avoid late payment charges or total outstanding to avoid interest charges.

Indian Oil Citi Credit Card Customer Care

You can reach Indian Oil Citi Credit Card customer service through the following ways for any queries or complaints:

  • Call:24×7 toll-free customer helpline 1800 425 24 24 or 1800 208 24 24
  • Email:[email protected]
  • Chat: Live chat with customer care executives through online banking or mobile app
  • Video Call: Schedule an appointment for video call assistance for sensitive queries
  • WhatsApp: Chat with virtual assistant on WhatsApp at +91 8657127777
  • Social Media: Facebook, Twitter, Instagram pages for service on social media
  • Write-In: Send letter to The Manager – Customer Services, Citibank N.A., Mail Room, Acropolis, 15th Floor, 1858/1, Rajdanga Main Road, Kasba, Kolkata – 700107
  • Website: Request a callback from the website for any service requirements

The Indian Oil Citi Credit Card customer service team assists with account management, billing inquiries, reward points, offers, complaints, and other queries.

Indian Oil Citi Credit Card – FAQs

Q1. What is the credit limit on Indian Oil Citi Card?

The credit limit is determined basis your eligibility, income, credit score, and existing relationship with Citibank. It usually ranges from ₹25,000 to ₹3 lakhs for new applicants. High-income customers can get over ₹3 lakhs limit.

Q2. Is there any annual fee for the Indian Oil Citi Credit Card?

There is no separate annual fee for the primary or add-on Indian Oil Citi Credit Card. You only need to pay the annual fee waiver charge at the time of application.

Q3. How do I track Indian Oil Citi Card reward points?

You can check the reward points summary in your monthly credit card statement. Also, log in to Citibank online/mobile banking to view real-time rewards balance and redemption history.

Q4. What is the Indian Oil Citi Credit Card bill payment due date?

The due date for paying your IOCL Citi Card outstanding bill is 25 days from the date of bill generation. You must make at least the minimum payment by due date to avoid late fees.

Q5. Can I pay my Indian Oil pump bill with Citi Credit Card?

Yes, Citi Bank allows you to pay your Indian Oil fuel bills or any other payments using your Indian Oil Citi Credit Card and avail of normal reward points.

Q6. Is the Indian Oil Citi Card free for life?

Yes, the Indian Oil Citi Credit Card is free for life with no separate annual, joining, or renewal fees. Only minimal charges like an annual fee waiver are applicable.

Q7. Can I redeem Indian Oil loyalty points on my Citi Card?

No, you cannot directly redeem Indian Oil EXTRA REWARDS loyalty points on the Citi co-branded credit card. Both programs are separate.

Q8. Does Indian Oil Citi Card offer lounge access?

Yes, this card provides complimentary domestic airport lounge access at Air India lounges 4 times a year. Check the terms and conditions for the lounge access policy.

Q9. Is there any minimum fuel purchase for cashback?

Yes, you need to make a minimum fuel purchase of ₹500 at Indian Oil outlets to avail of 5% cashback. No cashback for spends below ₹500.

Q10. Can I get a second Indian Oil Citi add-on card?

Yes, you can request a second add-on Indian Oil Citi Credit Card for your family members by paying a nominal add-on card fee and documentation charges.

FAQ

Q1. What are the key benefits of the Indian Oil Citi Credit Card?

The main benefits of the Indian Oil Citi Credit Card include – 5% fuel savings at IOCL outlets, 1% fuel surcharge waiver, ₹150 off on the first fuel bill, turbo rewards points, air lounge access, global acceptance, lower fuel transaction charges, and complimentary movie tickets.

Q2. What is the minimum amount required for fuel surcharge waiver?

You need to spend between ₹500 to ₹4000 on fuel at IOCL outlets using the Indian Oil Citi Credit Card to get a 1% fuel surcharge waiver benefit.

Q3. How can I apply for the Indian Oil Citi Credit Card?

You can apply online via the Citi Bank website or the Indian Oil Citi Credit Card portal. Submit your personal, income, and KYC documents and Citi will process the application.

Q4. Is there any annual fee for the Indian Oil Citi Credit Card?

No, there is no separate annual fee applicable for the Indian Oil Citi Credit Card. You only need to pay a one-time annual fee waiver charge at the time of application.

Q5. How do I redeem rewards on the Indian Oil Citi Credit Card?

You can redeem rewards for fuel savings, gift vouchers, merchandise, air miles, movie tickets, bill payments, charity, etc through multiple channels like online banking, mobile app, Indian Oil outlets, etc.

Q6. What is the bill payment due date for the Indian Oil Citi Card?

You need to make at least the minimum payment due towards your Indian Oil Citi Credit Card bill within 25 days of statement generation to avoid any late fees.

Conclusion

The Indian Oil Citi Credit Card is a leading fuel co-branded card offering maximum savings on fuel purchases along with attractive rewards and benefits on other spends. The fuel surcharge waiver, turbo rewards points, and fast redemption at IOCL outlets make it convenient for regular customers. If you use Indian Oil outlets frequently for your fuel needs and want to reduce your petrol/diesel bills, this card can provide great value. Consider its features and compare it with other fuel-related cards to find the right fit for your usage.

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