Question 1

What is the annual fee on the IndianOil Kotak Credit Card and how do you get it waived?

Accepted Answer

The IndianOil Kotak Credit Card is a lifetime free card, so there is no joining fee and no renewal fee to recover. Everything you earn on it is net gain, which also means the only thing worth watching is the reward caps and the excluded categories. Check that the card still has no fee on your welcome letter, because Kotak Mahindra Bank prices some variants differently.

Question 2

What is the reward rate on the IndianOil Kotak Credit Card?

Accepted Answer

You earn 24 points per ₹150 on IndianOil Fuel Spends. Everything else earns 3 points per ₹150. Each point is worth about ₹0.25 when you redeem it well, so ₹10,000 of top category spend gives you 1600 points, roughly ₹400, which is about 4% back. The accelerated rate stops after ₹300 of spend in a month.

Question 3

Do reward points on the IndianOil Kotak Credit Card expire?

Accepted Answer

Yes. Points lapse 24 months from the date you earn them, so a slow burn balance is a real loss rather than a saving. Redeem in small batches as you go instead of saving for a large redemption that never arrives. Check the expiry column on your statement each quarter.

Question 4

What changed on the IndianOil Kotak Credit Card recently and is it still worth it in 2026?

Accepted Answer

Kotak issuer cuts (RP value ₹0.20, category caps); intro cashback-redemption offer lapsed. The changes are dated Jun 2025. It costs nothing to hold, so keep it as a backup card and stop treating it as your main one if your top category no longer earns.

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IndianOil Kotak Credit Card

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