ICICI Bank HPCL Coral Credit Card Visa vs Indian Oil Axis Bank Premium Credit Card: Which is Better in 2026?
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In short: ICICI HPCL Coral has the lower annual fee (₹199 vs ₹1,000); both charge a 3.5% forex markup.
| Key facts | ICICI HPCL Coral | Indian Oil Axis Premium |
|---|---|---|
| Annual fee | ₹199 | ₹1,000 |
| Joining fee | ₹199 | ₹1,000 |
| Annual fee waived | On ₹50,000 annual spend | On ₹1 lakh annual spend |
| Lounge access | Not listed | 2 airport lounge visits a quarter |
| Forex markup | 3.5% | 3.5% |
From issuer benefit data, checked 22 Oct 2026. Rewards, milestones and welcome benefits are in the full table below.
The ICICI Bank HPCL Coral Credit Card Visa and the Indian Oil Axis Bank Premium Credit Card both cater to fuel and retail spending but differ in fee structure, rewards, and travel benefits. ICICI's card offers straightforward reward points on various everyday categories with a low annual fee and a simple waiver condition. In contrast, Axis Bank's card has a higher fee but provides more travel perks such as complimentary domestic airport lounge access and a welcome bonus of Edge Miles.
Comparison notes and quick badges use AI, grounded in the benefit data shown in the table. Confirm details on each issuer’s site.
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| Feature | ICICI Bank HPCL Coral Credit Card Visa | Indian Oil Axis Bank Premium Credit Card |
|---|---|---|
| Bank | ICICI Bank | Axis Bank |
| Network | Visa | MasterCard |
| Joining fee | Joining Fee of Rs.199 | Joining Fee of Rs.1000 |
| Annual / renewal fee | Annual Fee of Rs.199 | Annual Fee - Rs.1000 |
| Annual fee waiver | Spend Rs.50000 For Waiver of Annual Fee | Spend Rs.1 Lakhs For Annual Fee Waiver |
| Reward rate (headline) | Earn 2 Reward Points per Rs.100 | Earn 1 Edge Mile on Every Rs.150 |
| Lounge — domestic | — | 2 Complimentary Airport Lounge Access Per Quarter |
| Welcome benefit | — | Welcome Benefits - 500 Edge Miles |
| Foreign currency markup | 3.50% - Foreign Currency Transactions | 3.50% - Foreign Currency Transactions |
Which is better for rewards?
Both cards offer rewards focused on fuel and retail spending but with different reward currencies and structures. ICICI Bank HPCL Coral Credit Card Visa earns 2 reward points per Rs.100 spent across groceries, insurance, utilities, and departmental stores, with redemption value specified as Rs.0.25 per point. The Indian Oil Axis Bank Premium Credit Card earns Edge Miles with variable earning rates, especially higher on IOCL fuel spends, and includes a welcome benefit of 500 Edge Miles. The choice depends on whether you prefer reward points with a fixed redemption rate or miles that may be more valuable for travel redemptions.
Which is better for travel?
The Indian Oil Axis Bank Premium Credit Card stands out for travel benefits by offering 2 complimentary domestic airport lounge accesses per quarter, which the ICICI Bank HPCL Coral Credit Card Visa does not provide. Both cards have the same forex markup fee of 3.5%, but the Axis Bank card's travel perks and lounge access make it more suitable for frequent domestic travelers. Neither card offers international lounge access or extensive travel milestones.
Which has lower effective cost?
The ICICI Bank HPCL Coral Credit Card Visa has a significantly lower joining and annual fee of Rs.199 each, with a waiver on spending Rs.50,000 annually. The Indian Oil Axis Bank Premium Credit Card charges Rs.1000 for both joining and renewal, with a waiver threshold of Rs.1 lakh. For cost-conscious or beginner users, ICICI's card is more accessible, while the Axis Bank card’s higher fee might be justified by its travel benefits if you can meet the waiver criteria.
Fuel Surcharge Waiver
Both cards offer a 1% fuel surcharge waiver but at different fuel brands—ICICI's card applies this at HPCL pumps with a minimum spend of Rs.4000, while Axis Bank's card offers it at IOCL outlets. This makes each card more beneficial depending on your preferred fuel brand.
Reward Redemption and Structure
ICICI Bank's card provides reward points redeemable at a fixed rate of Rs.0.25 per point for products and vouchers, offering straightforward value. Axis Bank's card rewards with Edge Miles, which may have variable redemption value primarily for travel-related redemptions, though specific redemption details are not provided.
Who should pick ICICI Bank HPCL Coral Credit Card Visa?
Consider ICICI Bank HPCL Coral Credit Card Visa if you want a low-fee credit card with consistent reward points on everyday categories like groceries, insurance, and utilities. It is suitable for users who prefer a simple fee waiver condition and do not require travel lounge access or premium travel perks.
Who should pick Indian Oil Axis Bank Premium Credit Card?
Consider Indian Oil Axis Bank Premium Credit Card if you prioritize travel benefits such as domestic airport lounge access and want to earn Edge Miles, especially if you spend heavily at IOCL fuel stations. This card suits frequent travelers who can justify the higher fee with its welcome bonus and travel-related perks.
Frequently Asked Questions
ICICI Bank HPCL Coral Credit Card Visa charges Rs.199 as joining and annual fees with a waiver if you spend Rs.50,000 annually. Indian Oil Axis Bank Premium Credit Card charges Rs.1000 for both joining and renewal, waived on spending Rs.1 lakh annually.
Only the Indian Oil Axis Bank Premium Credit Card offers travel lounge benefits with 2 complimentary domestic airport lounge accesses per quarter. The ICICI Bank HPCL Coral Credit Card Visa does not provide any lounge access.
Both cards charge a forex markup fee of 3.50% on foreign currency transactions.
The Indian Oil Axis Bank Premium Credit Card offers higher rewards on IOCL fuel spends with up to 6 Edge Miles per Rs.150 spent, while the ICICI Bank HPCL Coral Credit Card Visa offers 2 reward points per Rs.100 on fuel at HPCL pumps.
The Indian Oil Axis Bank Premium Credit Card offers a welcome benefit of 500 Edge Miles. The ICICI Bank HPCL Coral Credit Card Visa does not have any welcome benefits.
ICICI Bank HPCL Coral Credit Card Visa charges Rs.200 for card replacement, whereas the Indian Oil Axis Bank Premium Credit Card does not charge any fee for card replacement.