Fuel Credit Cards- It is essential to save money whenever possible due to the worldwide fluctuation in fuel prices. Fuel credit cards are available from a lot of the country’s best lenders and banks, allowing you to save even more money on all of your fuel purchases. These credit cards have interest rates that range from 3.25% to 3.40% per month and annual fees that range from zero to Rs.1,000. These cards offer a wide range of deals in a variety of other categories, including entertainment, dining, and shopping, in addition to benefits and offers on fuel costs.
Fuel Credit Cards
Banks are offering customers a Fuel Credit card to help them get the most out of their fuel purchases. With this card, people who buy fuel on a regular basis for a variety of purposes can save money on fuel. In addition, it enables Fuel Credit card holders to utilize it for additional lifestyle benefits.
With the fluctuating prices of fuel in the world, it is necessary to save whenever possible. Many top banks and lenders in the country are offering fuel credit cards which help you save more on all your fuel purchases. The annual fee of these credit cards ranges from zero to Rs.1,000, along with an interest rate ranging from 3.25% per month to 3.40% per month. Apart from offers and benefits on your fuel expenses, these cards also provide a wide range of offers in other categories, such as entertainment, dining and shopping as well.
Fuel Credit Cards Overview
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Benefits of Fuel Credit Cards
The advantages of Fuel Credit cards vary, as numerous financial institutions and banks offer credit cards. The following are some additional advantages of Fuel Credit cards, in addition to lowering fuel purchase costs:
- Get Reward Points
- Redemption of points earned
- Eligible for Cashback
- Eligible for Surcharge Waiver
- Dining offers
- BookMyShow Offer
- Eligible for Turbo Points
- Waiver of Annual Fees
- Can make utility bill payments
- Eligible for Telecom benefits
- Concierge Service
Features of Fuel Credit Cards
Fuel Credit cards also have a lot of features, just like other credit cards. The following are some of the features that banks provide with Fuel Credit cards:
| Fuel Credit Card | Features |
| HDFC Bharat Cashback Credit Card | 5% cashback when you buy fuel. There is no minimum transaction, but the maximum cashback per month is limited to Rs. 150. |
| HDFC Bharat Credit Card | 5% cashback when you buy fuel. There is no minimum transaction, but the maximum cashback per month is limited to Rs. 150. |
| IndianOil Axis Bank Credit Card | Get 100percent cashback up to Rs.250 on all fuel transactions & 1%percent fuel surcharge waiver. |
| Standard Chartered Titanium Credit Card | 5percent cashback on fuel spends at all petrol pumps. The maximum monthly discount is limited to Rs. 250, and the minimum transaction amount is Rs. 750. |
Why opt For a Fuel Credit Card?
When the majority of credit cards on the market provide individuals with fuel benefits, the question of why one should choose a Fuel Credit card arises. The answer to this question is that Fuel Credit cards are made to help people save money each time they fill up their cars with gas. A Fuel Credit card can help a person save money on fuel purchases in the face of rising prices for gasoline and diesel.
Factors to Consider While Selecting the Best Fuel Credit Card:
| Savings | When looking for a fuel credit card, you should look at how much you can save on fuel purchases. |
| Participating Oil Companies | When looking for a fuel credit card, this is one of the most important aspects to consider. You should check to see if the benefits are only available at certain oil company-owned gas stations or at all gas stations in the country. |
| Surcharge Waiver | Determine whether you will receive a waiver of the fuel surcharge on your fuel expenditures. |
| Spend Limits | Make sure that the amount you can spend to get benefits isn’t too high. |
| Annual Fee | Check the yearly charge of the Mastercard that you intend to buy. If you use your card for a certain amount of money in a year, some cards let you skip the annual fee. |
| Redemption Process | Examine the credit card’s redemption procedure prior to making a purchase. Check to see if it offers immediate redemption. The majority of cards enable instant point redemption at gas stations. |
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Top Fuel Credit Cards
Standard Chartered Super Value Titanium Credit Card
- Joining fee: Rs.750
- Renewal Fee: Rs.750
- Add-on card: NIL
When you use this Standard Chartered Super Value Titanium Credit Card to buy gas in India, you can get 5% back in cash.
- Redemption: 1 Turbo Points can be exchanged for Rs. 1 in fuel.
- Payment of utility bills: Using this card, cardholders can easily pay their utility bills.
- Exemption from the Annual Fee: If cardholders spend at least Rs. 30,000 annually, there is no annual fee.
- Surcharge Exemption: When you spend money on fuel at Indian Oil locations, you can get rid of a 2.5% fuel surcharge.
Benefits
- Cashback Offer: Earn cashback of 5percent and 2.5percent on fuel spends.
- Surcharge Waiver: Enjoy 2.5percent fuel surcharge reversal on the amount you spend at any petrol pump.
- Telecom Benefits: Earn cashback of 5percent on telecom related bill payments.
- Utility Payment: Use this card to pay utility bills and earn 5percent cashback.
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Air India SBI Signature Credit Card
- Joining fee: Rs.4,999
- Renewal Fee: Rs.4,999
- Add-on card: NIL
- Reward Points:
- Within 15 days of paying the annual fee, 20,000 reward points as a welcome gift.
- Using the SBI Air India Signature Credit Card, you can get 5,000 reward points each year as a gift for your anniversary.
- When you spend Rs. 100 on a SuperSaver booklet, you earn ten reward points.
- When you spend more than Rs. 100 on tickets from Air India, you can earn up to 30 reward points. The Airindia mobile app or the website airindia.com must be used to purchase these tickets.
- Bonus reward points
| Annual Retail Spend | Bonus Reward Points | Cumulative Bonus Reward Points |
| Rs.5 lakh | 20,000 | 20,000 |
| Rs.10 lakh | 30,000 | 50,000 |
| Rs.20 lakh | 50,000 | 1,00,000 |
Benefits
- Railway ticket Benefits: Book railroad tickets online with this card and your tickets will be conveyed close to home.
- Airport and lounge Benefits: Get eight free trips to all domestic VISA airport lounges in the country each year (up to two trips each quarter).
- Fuel Benefits: A waiver of the fuel surcharge of one percent at each and every pump in India (the purchase amount must be between Rs. 500 and Rs. 4,000).
- Flexipay Benefits: Spend more than Rs. 2,500 on a purchase. Then, within 30 days of the transaction, log on to the website sbicard.com and convert the amount into an EMI.
- Lost Card Liability Cover: Lost card liability cover of Rs.1 lakh.
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Yes First Preferred Credit Card
- Joining fee: Rs.2,499
- Renewal Fee: Rs.2,499
- Reward Points
- When you use your new card for the first time within the first 90 days, you will earn 10,000 reward points.
- Every time you renew your YES First Preferred Credit Card, you earn 7,500 reward points.
- 20,000 bonus reward points during the anniversary year when you spend at least Rs. 7.5 lakh.
- 16 reward points are awarded for every Rs. 200 spent on dining, domestic airlines, and tour operators.
- Every time you spend Rs. 200 on other shopping categories, you get 8 reward points.
- 1,000 reward points for each YES PayNow account created.
Benefits
- MasterCard World Golf Benefits:
- At a few of the country’s golf courses, there are four free green fees each year.
Each month, select golf courses provide one complimentary lesson.
- At a few of the country’s golf courses, there are four free green fees each year.
- Priority Pass Membership and MasterCard Lounge Benefits:
- Free Priority Pass Membership
- All Primary Card holders get four free trips to international lounges each year.
- Insurance Benefits:
- Get Rs. 1 crore in life insurance in the event of a fatal flight accident.
- When you travel abroad, medical insurance worth Rs. 25 lakh covers all emergency hospitalizations.
- Entertainment Benefits: Get a 25percent discount on your movie tickets through the BookMyShow website and the mobile app
- Fuel Benefits: Get a 1percent fuel surcharge waiver when spend between Rs.400 and Rs.5,000 at all fuel bunks in India
Bank of Baroda Prime Credit Card
- Joining fee: NIL
- Renewal Fee: NIL
- Reward Points:
- Each time you spend Rs. 100 on your Bank of Baroda Prime Credit Card, you earn four reward points.
Benefits
- Fuel advantages: Fuel transactions between Rs. 400 and Rs. 5,000 are eligible for a waiver of the 1% fuel surcharge.
- Benefits of EMI: Purchases worth more than Rs. 2,500 can be easily converted into six- to twelve-month EMIs.
- Protection Advantages: Personal accidental death insurance is free.
- Benefits of an Add-On Card: three free add-on cards max.
BPCL SBI Credit Card
- Joining fee: Rs.499
- Renewal Fee: Rs.499
- Add-on card: NIL
Benefits
- Reward Point Benefits
- When you pay the joining fee, you will receive 2,000 activation bonus reward points, or Rs. 500.
- Get 5X award focuses each time you burn through Rs.100 at departmental stores, food, feasting and films.
- 1 reward point for every Rs. 100 spent on non-fuel purchases.
- Fuel advantages: a waiver of the 1% surcharge on fuel transactions up to Rs. 4,000.
- Benefits of Flexipay: Over Rs. transactions can be converted. using your BPCL SBI Credit Card, convert 2,500 into EMIs.
HDFC Bharat CashBack Credit Card
- Joining Fee: Rs.500
- Renewal Fee: Rs.500
Benefits
- Cashback Benefits:
- When you book your tickets through the IRCTC website, you will receive 5% cashback every month.
- Receive 5% cashback every month on all of your fuel purchases.
- 5% cash back when you use the HDFC Bharat Cashback Credit Card to make a recharge.
- Fuel advantages: a 1% reduction in the surcharge for transactions between Rs. 400 and Rs. 5,000.
- Benefits of shopping: 5% cashback on your monthly grocery bills.
IndianOil HDFC Bank Credit Card
- Joining Fee: Rs.500
- Renewal Fee: Rs.500
Benefits
- Fuel Benefits:
- 5percent of your fuel transactions at any IndianOil outlet will become Fuel Points.
- 5percent of your expenses on grocery will be converted into Fuel Points.
- 5percent of all bill payments will become Fuel Points.
- Fuel Point Benefits: Get one Fuel Point every time you spend Rs.150 using this IndianOil HDFC Bank Credit Card.
IndianOil Axis Bank Credit Card
- Joining Fee: Rs.500
- Renewal Fee: Rs.500
Benefits
- Cashback and Value back Benefits
- 100percent cashback up to Rs.250 on your fuel transactions.
- 4percent value back on your fuel expenses.
- Reward Point Benefits
- Get 20 prize focuses for each Rs.100 you spend at IOCL outlets.
- When you use your IndianOil Axis Bank Credit Card to shop online, you earn 5 reward points for every Rs. 100 you spend.
Factors to Consider before opting for a Fuel Credit Card
The factors to be considered are:
- Surcharge waiver
- Credit limit
- Annual fee
How to Apply for a Fuel Credit Card?
A Fuel Credit card application can be submitted online or in person at the bank’s closest branch, depending on the applicant’s location. To obtain the Fuel Credit card and reduce fuel costs, the applicant must complete the application and submit the requested documents.
Who Are Eligible to Apply For a Fuel Credit Card?
A fuel credit card application seems to be different for each bank. However, the following are some of the most frequently encountered criteria for eligibility:
- Require a high credit score.
- Need to be in the bank’s minimum age range and income bracket.
How to Choose the Best Fuel Credit Card?
| Credit card payment pattern | While selection the best fuel credit card, the most important thing is to identify the pattern of payment. The individual must see for a card that offers fuel benefits as well as best interest rates. |
| Fuel spending pattern | The individual require analyze his/her expenses and decide on the monthly budget that would be spent on fuel. This is quite most as availing a fuel credit card without analyzing this would not serve the purpose. |
| Fees and charges | Before applying for a fuel credit card, one must also take into account the fees and charges that are associated with it. If this isn’t done, fuel credit cards may not give you the discounts and benefits they offer because you have to pay high card fees and charges. |
| Check the redemption process of the card | It is smarter to check the recovery interaction of the fuel Mastercard. It is preferable to select cards that permit instant point redemption. |
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