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Side-by-Side Comparison|Updated April 2026

IndianOil Axis Bank Premium Credit Card vs SBI Card MILES ELITE

Detailed comparison of fees, rewards, benefits, and value to help you choose the right credit card for your spending pattern.

Axis Bank

IndianOil Axis Bank Premium Credit Card

8/10
Annual Fee₹1,000
Base Rewards0.13333333333333336%
NetworkVisa
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SBI Card

SBI Card MILES ELITE

8.2/10
Annual Fee₹4,999
Base Rewards1%
NetworkMastercard
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Feature-by-Feature Comparison

FeatureIndianOil Axis Bank Premium Credit CardSBI Card MILES ELITE
Annual Fee₹1,000₹4,999
Joining Fee₹1,000₹4,999
Fee Waiver Spend₹1,00,000₹15,00,000
Base Reward Rate0.13333333333333336%1%
Reward CurrencyEDGE MilesTravel Credits
NetworkVisaMastercard
Editor Rating8/108.2/10
Forex Markup3.5%3.5%

Accelerated Rewards

IndianOil Axis Bank Premium Credit Card

  • 0% on Fuel (IOCL) — 15000 pts/month
  • 0% on Grocery & Supermarket — 5000 pts/month

SBI Card MILES ELITE

No accelerated rewards listed

Pros & Cons

IndianOil Axis Bank Premium Credit Card

Pros

  • 4% value back on IOCL fuel spends with a high monthly cap of ₹15,000.
  • 1:1 redemption ratio for EDGE Miles against fuel at IOCL outlets.
  • 2 complimentary domestic lounge visits per quarter (subject to spend criteria).
  • 30% discount on Zomato food delivery twice a month.

Cons

  • Requires ₹50,000 spend in the previous quarter for lounge access.
  • Low base reward rate of 0.67% on general spends.
  • Reward exclusions on rent, insurance, utilities, and government payments.

SBI Card MILES ELITE

Pros

  • High 3% reward rate on travel spends (6 Travel Credits per ₹200).
  • 1:1 conversion ratio for Travel Credits to Air Miles and Hotel Points with major partners.
  • Unique spend-linked domestic lounge access (1 extra visit per ₹1 Lakh spend).
  • Low foreign currency markup of 1.99%, ideal for international travelers.

Cons

  • High annual fee of ₹4,999 with a steep waiver threshold of ₹15 Lakhs.
  • Lounge access is capped per quarter (2 visits), which may be restrictive for frequent flyers.
  • Air Accident insurance coverage was discontinued as of July 2025.

Our Verdict

SBI Card MILES ELITE edges ahead overall with a stronger combination of rewards and value. However, IndianOil Axis Bank Premium Credit Card could be the better pick if its specific category strengths match your spending habits.

Choose IndianOil Axis Bank Premium Credit Card if

Offers significant 4% value back on fuel with a generous ₹15,000 monthly cap.

Choose SBI Card MILES ELITE if

High reward rates on flights and hotels with 1:1 mile conversion across multiple airlines.

Frequently Asked Questions

Which is better: IndianOil Axis Bank Premium Credit Card or SBI Card MILES ELITE?
SBI Card MILES ELITE edges ahead overall with a stronger combination of rewards and value. However, IndianOil Axis Bank Premium Credit Card could be the better pick if its specific category strengths match your spending habits.
What is the annual fee difference between IndianOil Axis Bank Premium Credit Card and SBI Card MILES ELITE?
IndianOil Axis Bank Premium Credit Card has an annual fee of ₹1,000, while SBI Card MILES ELITE has an annual fee of ₹4,999. IndianOil Axis Bank Premium Credit Card offers a fee waiver on ₹1,00,000 annual spend. SBI Card MILES ELITE offers a fee waiver on ₹15,00,000 annual spend.
Which card has better rewards: IndianOil Axis Bank Premium Credit Card or SBI Card MILES ELITE?
IndianOil Axis Bank Premium Credit Card offers a base reward rate of 0.13333333333333336% with accelerated rewards on Fuel (IOCL) and Grocery & Supermarket. SBI Card MILES ELITE offers 1% base rewards. The better choice depends on your primary spending categories.
Can I have both IndianOil Axis Bank Premium Credit Card and SBI Card MILES ELITE?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. IndianOil Axis Bank Premium Credit Card and SBI Card MILES ELITE can complement each other if they cover different reward categories.
Which card is better for beginners: IndianOil Axis Bank Premium Credit Card or SBI Card MILES ELITE?
For beginners, IndianOil Axis Bank Premium Credit Card may be more approachable with a lower annual fee of ₹1,000. However, evaluate based on your expected spending pattern rather than fee alone.

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