Axis Bank Neo Credit Card vs IDFC HPCL First Power Credit Card: Which Credit Card Wins in 2026?

Quick Verdict

• For everyday spending, the IDFC HPCL First Power Credit Cardⓘ wins with a higher base reward rate of 0.75% versus 0.2% on the Axis Bank Neo Credit Cardⓘ.
• Neither card offers domestic or international lounge access, so neither wins on travel perks.
• The Axis Bank Neo Credit Cardⓘ is cheaper to hold with no joining or annual fees, compared to Rs 199 each on the IDFC card.
• Pick the Axis Bank Neo for a lifetime free card focused on online and utility spend, and pick the IDFC First Power if you spend heavily on fuel, groceries, and utilities and can meet the Rs 50,000 annual fee waiver.

Side by Side

Rewards Compared

The Axis Bank Neo Credit Cardⓘ delivers Rs 20 back on Rs 10,000 of general spend, reflecting its 0.2% base reward rate. However, it shines on online and utilities spend, offering a 5% reward rate that returns Rs 500 on Rs 10,000 spent in those categories. This makes it an attractive option for users who regularly pay bills or shop online and want straightforward cashback without fees.

In contrast, the IDFC HPCL First Power Credit Cardⓘ offers a significantly higher base reward rate of 0.75%, yielding Rs 75 on Rs 10,000 of general spend. It also matches the Axis card’s 5% reward rate in its focus categories: fuel, grocery, and utilities, providing Rs 500 back on Rs 10,000 spent in these segments. This card is tailored for users who spend heavily on fuel and groceries and want solid returns on everyday essentials.

Fees Compared

The Axis Bank Neo Credit Cardⓘ is completely free to hold with no joining or annual fees, making it ideal for budget-conscious users or those who prefer a no-fee card. By contrast, the IDFC HPCL First Power Credit Cardⓘ charges a Rs 199 joining fee and Rs 199 annual fee. However, the annual fee is waived if you spend Rs 50,000 per year, or about Rs 4,167 per month. The break-even spend for the IDFC card’s higher base reward rate to cover the fee is roughly Rs 26,533 annually, so users spending above this threshold will benefit financially.

Which One Should You Pick

Choose the Axis Bank Neo Credit Cardⓘ if you want a zero-fee, simple rewards card that rewards online shopping and utility bill payments generously. It’s particularly suitable for first-time credit card users or anyone looking to avoid fees while earning decent cashback on specific categories.

Opt for the IDFC HPCL First Power Credit Cardⓘ if you spend a lot on fuel, groceries, and utilities and can comfortably meet the Rs 50,000 annual spend needed to waive the fee. Its higher base reward rate also makes it better for general spend, so it suits users who want more consistent rewards across broader categories and don’t mind paying a small fee if they meet the waiver.

In summary, skip the Axis Bank Neo if you want a card with broader category rewards or if you want value from fuel spend. Skip the IDFC First Power if you prefer a no-fee card or spend below Rs 26,533 annually, as the fee may outweigh rewards.

What to Check Before You Apply

• Confirm if the 5% category rewards have monthly caps or spend limits that could restrict earnings.
• Verify the redemption value of points earned, as the effective cashback depends on how points convert to rewards.
• Calculate the fee waiver carefully based on your typical monthly spend to ensure you do not pay fees unnecessarily.
• Consider the 3.5% forex markup if you plan to use the card internationally, as both cards charge this standard markup.
• Check which airports or lounges, if any, are accessible despite both cards listing no domestic or international lounge access.

FAQ