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Axis Bank IndianOil Axis Bank Premium RuPay vs IDFC FIRST Bank Millennia Credit Cards – Fees, Lounge, Forex

Side-by-side comparison of the Axis Bank IndianOil Axis Bank Premium RuPay and the IDFC FIRST Bank Millennia. Verify fees, lounge access, forex markup, and base rewards before you apply.

IndianOil Axis Bank Premium RuPay
Millennia

The short answer

Verdict

Pick IndianOil Axis Bank Premium RuPay for upi.

Pick Millennia for lounge access.

Head-to-head

Three core metrics
  • Annual fee
    IndianOil Axis Bank Premium RuPay ₹1,000 Waivable at ₹30,000 spend
    Millennia ₹0
    Millennia saves ₹1,000/yr
  • Forex markup
    IndianOil Axis Bank Premium RuPay 3.5%
    Millennia 3.5%
  • Domestic lounge
    IndianOil Axis Bank Premium RuPay 8/year (2 per quarter) Conditional · Domestic: 2/quarter · requires ₹50,000 spend in the previous 3 calendar months
    Millennia 16/year railway
    Millennia: +8 lounge visits/yr

Reward earning explained

Per card
IndianOil Axis Bank Premium RuPay

1 EDGE Miles / ₹150 · Up to 6 EDGE Miles / ₹150 on IndianOil

Strong data
Millennia

3 pts / ₹200 · 10 pts / ₹200 on eligible dining, international, and travel

Strong data

Pick based on what matters

4 dimensions

Start with the constraint you care about most: annual fee (Axis Bank IndianOil Axis Bank Premium RuPay: ₹1,000 vs IDFC FIRST Bank Millennia: ₹0), forex markup (3.5% vs 3.5%), or lounge access (8/year (2 per quarter) vs 16/year railway).

  • Forex markup Tie

    Both cards are similar for forex

    Forex markup is 3.5%.

  • Lounge access IDFC FIRST Bank Millennia wins

    IDFC FIRST Bank Millennia is better for lounge access

    IDFC FIRST Bank Millennia is stronger here. IDFC FIRST Bank Millennia offers 16 domestic lounge visits per year versus 8.

  • Rewards Tie

    Both cards are similar for rewards

    Axis Bank IndianOil Axis Bank Premium RuPay conservative base value ~0.7% vs IDFC FIRST Bank Millennia's ~0.4%. IDFC FIRST Bank Millennia conservative base value ~0.4% vs Axis Bank IndianOil Axis Bank Premium RuPay's ~0.7%.

  • upi Axis Bank IndianOil Axis Bank Premium RuPay wins

    Axis Bank IndianOil Axis Bank Premium RuPay is better for UPI usage

    Axis Bank IndianOil Axis Bank Premium RuPay is stronger here. Supports UPI via RuPay network.

View Axis Bank IndianOil Axis Bank Premium RuPay → View IDFC FIRST Bank Millennia → See more rankings →

All fields

Example usage at this monthly spend

At ₹50k/month spend:

  • IndianOil Axis Bank Premium: ~₹330/month at base rate
  • IDFC FIRST Millennia: ~₹190/month at base rate

Illustrative only, using current base rates before caps.

Field IndianOil Axis Bank Premium RuPay Axis Bank Millennia IDFC FIRST Bank
Insurance — Personal accident cover
Only available for IDFC FIRST Millennia
 Not specified ₹2 lakh
Insurance — Lost card liability cover
Only available for IDFC FIRST Millennia
 Not specified ₹25,000
Insurance — Underwriter
Only available for IDFC FIRST Millennia
 Not specified Insured by The Oriental Insurance Company Limited
Lounge Access
Domestic lounge visits
spend-gated on some cards — see caveats
8/year (2 per quarter) vs 16/year railway
 8/year (2 per quarter) 16/year railway
International lounge visits No international lounge access No international lounge access
Forex / International Use
Forex markup 3.5% 3.5%
Fees
Recurring annual fee
₹1,000 vs ₹0
 ₹1,000 ₹0
Annual-fee waiver
Only available for IndianOil Axis Bank Premium
 ₹30,000 Not specified
Interest-free period
Up to 50 days vs Up to 45 days
 Up to 50 days Up to 45 days
Monthly interest rate
Only available for IndianOil Axis Bank Premium
 3.75% / month Not specified
Fuel benefit
1% surcharge waiver vs 1% surcharge waiver · ₹200–₹5,000 transactions · ₹200/month waiver cap · Fuel rewards excluded
 1% surcharge waiver 1% surcharge waiver · ₹200–₹5,000 transactions · ₹200/month waiver cap · Fuel rewards excluded
Rewards
Base earn
1 EDGE Miles / ₹150 vs 3 pts / ₹200
 1 EDGE Miles / ₹150 3 pts / ₹200
Conservative base value
~0.7% vs ~0.4%
 ~0.7% ~0.4%
Earn ceiling
600 EDGE Miles per month; at 6 EDGE Miles / ₹150, this lane reaches the cap at ₹15,000 of eligible spend vs Rewards apply only to spend up to your credit limit each statement cycle — shared across General spend, Dining, International spend, Travel, FASTag, Insurance, Railways & Utilities
 600 EDGE Miles per month; at 6 EDGE Miles / ₹150, this lane reaches the cap at ₹15,000 of eligible spend Rewards apply only to spend up to your credit limit each statement cycle — shared across General spend, Dining, International spend, Travel, FASTag, Insurance, Railways & Utilities
Point value (headline channel)
Issuer headline redemption rate — see each card page for the full channel grid.
₹1 vs ₹0.25
 ₹1 ₹0.25
Point validity
Only available for IDFC FIRST Millennia
 Not specified 2 years

Notes

  • IndianOil Axis Bank Premium Credit Card: Condition: ₹50,000 spend in the previous 3 calendar months
  • Card benefits change frequently. Always verify current terms on the issuer's official website or app before applying.

Related comparisons

Next useful checks

Axis Bank IndianOil Axis Bank Premium RuPay

Verify with issuer , opens external site

IDFC FIRST Bank Millennia

Verify with issuer , opens external site
Data refreshed through 4 Sept 2026 moneymatters.cards Current Money Matters snapshot
Important

Data compiled from issuer and public information. Details may change — verify with issuer. Reference data, not financial advice.

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