Fuel Credit Cards

What is Fuel Credit Card?

A Fuel Credit card is being offered by banks to customers in a bid to provide them with maximum benefits while purchasing fuel. Having this card enables those who constantly buy fuel for various purposes to lower their expenditure on fuel. Apart from that, it enables the users of Fuel Credit cards to use it for other benefits with regard to lifestyle.

All About Fuel Credit Cards

How to Apply for a Fuel Credit Card?

An individual can apply for a Fuel Credit card by visiting the nearest branch of the bank from which he/she wants to avail of the card or apply online. The applicant needs to fill out the application form and provide the documents asked for to get himself/herself the Fuel Credit card and cut down on fuel expenses.

Who Are Eligible to Apply for a Fuel Credit Card?

The eligibility to apply for a fuel credit card seems to vary from bank to bank. However, some of the common eligibility norms that an applicant needs to fulfil are:

• Need to have a good credit score.
• Need to fulfil the minimum age and income bracket as prescribed by the bank.

Benefits of Fuel Credit Cards

With many banks and financial institutions offering credit cards, the benefits that come with Fuel Credit cards differ. Apart from lowering the expenses with regard to purchasing fuel, some other benefits that come with Fuel Credit cards are as follows:

• 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

How to Choose the Best Fuel Credit Card?

Also Know Fuel credit cards with Cashback offers

Cashback is one of the attractive and rewarding offers provided on fuel credit cards. In the time of rising petrol and diesel prices, having one fuel credit card with a cashback feature is a saviour. You can receive the hiked petrol or diesel price as cashback by using a fuel credit card with a cashback feature. Fuel credit cards also offer fuel surcharge waivers and accelerated reward points on fuel purchases which can be exchanged for both rewards and fuel purchases. One fuel credit card, multiple savings, isn’t it sounds amazing? Of course, yes.

Features of Fuel Credit Cards

Just like other credit cards, Fuel Credit cards also come with a lot of features. Some of the features that come with Fuel Credit cards which banks provide, are as follows:

Why opt For a Fuel Credit Card?

When most credit cards that exist in the market offer fuel benefits to individuals, the question emerges as to why one should opt for a Fuel Credit card. The answer to this question is that Fuel Credit cards are specially designed to save money every time an individual refills his vehicle with fuel. With petrol and diesel prices on the rise, a Fuel Credit card can enable an individual to cut down on the expenses that go into buying fuel.

Factors to Consider While Selecting the Best Fuel Credit Card

Top Fuel Credit Cards

Standard Chartered Super Value Titanium Credit Card

• Joining fee: Rs.750
• Renewal Fee: Rs.750
• Add-on card: NIL

This Standard Chartered Super Value Titanium Credit Card offers a cashback of 5% on the fuel transactions that you make at any petrol pump in India.

• Redemption: 1 Turbo Points can be redeemed for fuel worth Rs.1.
• Utility Bill Payment: Cardholders can pay their utility bills easily using this card.
• Annual Fee Waiver: Cardholders do not have to pay any annual fee if they spend a minimum of Rs.30,000 annually.
• Surcharge Waiver: Enjoy 2.5% fuel surcharge waiver when you spend on fuel at Indian Oil outlets.

Benefits:

• Cashback Offer: Earn cashback of 5% and 2.5% on fuel spends.
• Surcharge Waiver: Enjoy 2.5% fuel surcharge reversal on the amount you spend at any petrol pump.
• Telecom Benefits: Earn cashback of 5% on telecom related bill payments.
• Utility Payment: Use this card to pay utility bills and earn 5% cashback.

Air India SBI Signature Credit Card

• Joining fee: Rs.4,999
• Renewal Fee: Rs.4,999
• Add-on card: NIL
• Reward Points:
  • 20,000 reward points as a welcome gift within 15 days of paying the annual fee
  • Get 5,000 reward points as an anniversary gift on an annual basis using SBI Air India Signature Credit Card
  • 10 reward points every time you spend Rs.100 on a SuperSaver booklet purchase
  • Up to 30 reward points every time your expenses touch Rs.100 on Air India tickets. These tickets will have to be booked via the website, airindia.com or through the Airindia mobile app
• Bonus reward points:

Benefits:

• Railway ticket Benefits: Book railway tickets online with this card and your tickets will be delivered at your doorstep
• Airport and lounge Benefits: Get 8 free visits every year to domestic VISA airport lounges in the country (A maximum of 2 visits in every quarter)
• Fuel Benefits: 1% fuel surcharge waiver at all pumps in India (purchase amount should be between Rs.500 and Rs.4,000)
• Flexipay Benefits: Make a purchase of Rs.2,500 and more. Then, log on to the website, sbicard.com within 30 days of the transaction and convert the amount into an EMI
• Lost Card Liability Cover: Lost card liability cover of Rs.1 lakh

Yes First Preferred Credit Card

• Joining fee: Rs.2,499
• Renewal Fee: Rs.2,499
• Reward Points
  • 10,000 reward points when you make your first transaction within 90 days of your card being issued
  • 7,500 reward points every time you renew your YES First Preferred Credit Card
  • 20,000 bonus reward points when you spend Rs.7.5 lakh and more during the anniversary year
  • 16 reward points for every Rs.200 spent on tour operators, travel agencies dining and domestic airlines
  • Earn 8 reward points every time you spend Rs.200 on other shopping categories
  • 1,000 reward points on every YES PayNow registration made

Benefits:

1. MasterCard World Golf Benefits:
   • 4 free rounds of green fees during every calendar year at a few golf courses in the country
   • One free golf lesson every month at select golf courses
2. Priority Pass Membership and MasterCard Lounge Benefits:
   • Free Priority Pass Membership
   • 4 free international lounge visits in every calendar year for all Primary Card members
3. Insurance Benefits:
   • Get a life insurance cover of Rs.1 Cr for death caused by flight accidents
   • Medical insurance worth Rs.25 lakh for all emergency hospitalisations when you travel overseas
4. Entertainment Benefits: Get a 25% discount on your movie tickets through the BookMyShow website and the mobile app
5. Fuel Benefits: Get a 1% 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:
  • 4 reward points every time you spend Rs.100 on your Bank of Baroda Prime Credit Card

Benefits:

• Fuel Benefits: Get a waiver of 1% fuel surcharge for fuel transactions between Rs.400 and Rs.5,000
• EMI Benefits: You can easily convert your purchases over Rs.2,500 into EMIs of 6 to 12 months
• Insurance Benefits: Free personal accidental death cover
• Add-on Card Benefits: Up to 3 free add-on cards

BPCL SBI Credit Card

• Joining fee: Rs.499
• Renewal Fee: Rs.499
• Add-on card: NIL

Benefits:

• Reward Point Benefits
  • 2,000 activation bonus reward points (Rs.500) when you pay the joining fee
  • Get 5X reward points every time you spend Rs.100 at departmental stores, groceries, dining and movies.
  • 1 reward point when you spend Rs.100 on any non-fuel transactions
• Fuel Benefits: 1% surcharge waiver on fuel transactions up to Rs.4,000
• Flexipay Benefits: You can convert your transactions over Rs. 2,500 into EMIs using your BPCL SBI Credit Card

HDFC Bharat CashBack Credit Card

• Joining Fee: Rs.500
• Renewal Fee: Rs.500

Benefits

• Cashback Benefits:
  • 5% cashback on a monthly basis when you book your tickets via the IRCTC website
  • Get 5% monthly cashback on all your fuel transactions
  • 5% cashback on your recharges using HDFC Bharat Cashback Credit Card.
• Fuel Benefits: 1% surcharge waiver on transactions between Rs.400 and Rs.5,000
• Grocery Benefits: 5% cashback every month on your grocery expenses

IndianOil HDFC Bank Credit Card

• Joining Fee: Rs.500
• Renewal Fee: Rs.500

Benefits:

• Fuel Benefits:
  • 5% of your fuel transactions at any IndianOil outlet will become Fuel Points
  • 5% of your expenses on grocery will be converted into Fuel Points
  • 5% of all bill payments will become Fuel Points
• Fuel Point Benefits: Get 1 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
  • 100% cashback up to Rs.250 on your fuel transactions.
  • 4% value back on your fuel expenses.
• Reward Point Benefits
  • Get 20 reward points for every Rs.100 you spend at IOCL outlets.
  • 5 reward points every time you spend Rs.100 on online shopping using IndianOil Axis Bank Credit Card.

ICICI Bank HPCL Super Saver Credit Card

• Joining Fee: Rs.500 plus GST
• Renewal Fee: Rs.500 plus GST

Benefits:

• Cashback Benefits
  • Get 5% cashback on scanning your card at any HPCL fuel pump on any bank POS terminal or via the HP Pay app.
• Reward Point Benefits
  • Get an extra 1.5% back in the form of reward points for making fuel transactions at HPCL outlets using the HP Pay app.

Factors to Consider before opting for a Fuel Credit Card

The factors to be considered are:

• Surcharge waiver
• Credit limit
• Annual fee

FAQs on Fuel Credit Card

1. Can I pay for fuel using my credit card?

   Yes, use your credit card like your debit card and you have to charge only what you can pay at the end of the month. You will not want to pay an extra 20% in interest for petrol.

2. How can I get a fuel card?

   You will have to apply for a Fuel Credit card by visiting your bank branch from which you want to avail a card. You will have to fill the application form and then give documents required for verification.

3. What is a petrol card and how can I use it?

   A fuel card is a payment card which can be used for the purchase of petrol and diesel at pumps.

4. Should I get a fuel card?

   A fuel card can be used for expenses and maintenance of vehicles. This card will come in handy as they allow you to manage and regulate your fuel expenses which are incurred, and you can stay informed about your business and personal related expenses.

5. What cashback offers are there for the IndianOil Axis Bank Credit Card?

   You can get 100% cashback up to Rs.250 on your all fuel transactions with the IndianOil Axis Bank Credit Card.

6. Is there an eligibility criterion to apply for a fuel credit card?

   The primary eligibility criteria to apply for the card is that the applicant must be a citizen of India and must be above the age of 18. Along with this, the credit score of the applicant plays a major role and should have a stable income.