Quick Verdict

  • The Indianoil HDFC Bank Credit Cardⓘ wins for everyday spend with a higher base reward rate of 1% versus 0.75% on the IDFC card.
  • The IDFC HPCL First Power Plus Credit Cardⓘ is better for fuel and grocery category rewards, offering up to 6.5% on fuel spend.
  • IDFC’s card offers 4 domestic lounge visits annually, whereas the Indianoil HDFC card provides no lounge access.
  • The Indianoil HDFC card is cheaper to hold in terms of fee waiver at Rs 50,000 yearly versus Rs 1.5 lakh on the IDFC First card.
  • Pick the IDFC First Power Plus card if you prioritize fuel rewards and occasional lounge access; choose the Indianoil HDFC card for simpler, higher base rewards and lower fee waiver requirements.

Side by Side

DetailIDFC HPCL First Power Plus Credit Card ⓘIndianoil HDFC Bank Credit Card ⓘ
Annual feeRs 499Rs 500
Joining feeRs 499Rs 500
Fee waiver on spendRs 1.50 lakhRs 50,000
Reward rate0.75%1%
Reward typepointspoints
Domestic lounge4 per yearNone
International loungeNoneNone
Forex markup3.5%3.5%
Best suited forfuel, upi-rupay, grocery, loungefuel, first-card, upi-rupay

Rewards Compared

The IDFC HPCL First Power Plus Credit Cardⓘ earns Rs 75 on Rs 10,000 of general spend due to its 0.75% base reward rate. However, it significantly outperforms in categories such as fuel with 6.5% returns (Rs 650), and grocery and utilities at 5% (Rs 500). This tiered reward structure means it rewards category spenders handsomely but offers modest returns outside those categories.

In contrast, the Indianoil HDFC Bank Credit Cardⓘ provides a straightforward 1% base reward rate, yielding Rs 100 on Rs 10,000 spent regardless of category. It also offers 5% (Rs 500) on fuel and grocery categories, slightly lower than IDFC’s fuel rate but equal in grocery. This makes the Indianoil HDFC card more attractive for users preferring simple, consistent returns on all spend, while IDFC’s card suits those concentrating on fuel and groceries.

Fees Compared

Both cards have nearly identical joining and annual fees, Rs 499/500 respectively. The key difference lies in fee waiver requirements: the IDFC HPCL First Power Plus demands an annual spend of Rs 1.5 lakh (about Rs 12,500 monthly) to waive fees, whereas the Indianoil HDFC Bank card requires only Rs 50,000 annually (around Rs 4,167 monthly) for waiver.

The IDFC card’s higher waiver threshold means casual or low spenders will likely pay the fee, but heavy spenders on fuel and groceries can offset this with higher category rewards. The Indianoil HDFC card’s low waiver bar is easier to achieve, making it more accessible for moderate spenders. The head-to-head break-even point for the slightly better base rate on the Indianoil HDFC card is just Rs 400 more spend annually, a negligible difference.

Which One Should You Pick

Choose the IDFC HPCL First Power Plus Credit Cardⓘ if you fuel your vehicle frequently at HPCL stations and spend substantially on groceries and utilities. The card’s higher category rewards and domestic lounge access add value for such users. However, be prepared to meet the Rs 1.5 lakh annual spend for fee waiver, or else the Rs 499 fee may reduce your net benefits.

The Indianoil HDFC Bank Credit Cardⓘ suits first-time credit card users or those seeking a simple, good base reward rate of 1% on all spends with lower fee waiver requirements. It is ideal for fuel and grocery spenders who want consistent returns without managing category spends tightly. Lounge access is not available, so travel perks are limited.

If you rarely spend on fuel or groceries, or want lounge access, skip the Indianoil HDFC card. If you cannot commit to Rs 1.5 lakh annual spend, or do not value fuel category rewards highly, the IDFC card may not be cost-effective.

What to Check Before You Apply

  • Confirm monthly spending capacity to meet fee waiver thresholds: Rs 12,500 for IDFC First, Rs 4,167 for Indianoil HDFC.
  • Understand the redemption process and value of points as both cards use points but rates differ by category.
  • Beware that forex markup of 3.5% applies on both cards, standard for Indian credit cards, making overseas spends costly.
  • Check if domestic lounge visits on the IDFC First card require minimum Rs 20,000 monthly spend to unlock access.
  • Review fuel station network compatibility to maximize category rewards, especially for the IDFC HPCL First Power Plus.

FAQ

What are the key differences in reward rates between these two cards?+
The IDFC HPCL First Power Plus card offers 6.5% on fuel and 5% on grocery and utilities, with 0.75% base rewards on other spends. The Indianoil HDFC card has a flat 1% base reward and 5% on fuel and grocery categories. This means IDFC’s card rewards fuel spenders more, while Indianoil HDFC provides consistent returns across spends.
How do the fee waiver thresholds compare?+
IDFC First’s card requires Rs 1.5 lakh annual spend, equating to roughly Rs 12,500 per month, to waive the Rs 499 annual fee. Indianoil HDFC’s card needs only Rs 50,000 annually or Rs 4,167 monthly, making fee waiver easier to achieve.
Does either card offer international lounge access?+
Neither card provides international lounge access. Only the IDFC HPCL First Power Plus card includes 4 domestic lounge visits per year, subject to a monthly Rs 20,000 spend gate.
What is the forex markup charge on these cards?+
Both cards charge a forex markup of 3.5% on foreign currency transactions. This is typical for Indian credit cards and can add significant cost to overseas spends.
Can a first-time credit card user benefit from these cards?+
Yes, the Indianoil HDFC Bank Credit Card is well-suited for first-time users due to its simple rewards structure and low fee waiver bar. The IDFC card is better for those who can meet higher spend requirements and want rewards focused on fuel and groceries.