10 Best Credit Cards for Fuel in India 2023 – Offers & How to Apply?
A fuel credit is a type of credit card that is specifically designed for use at petrol pumps. Banks offer credit cards for fuel to provide their customers with savings benefits on fuel expenses. Typically, fuel credit cards are co-branded with national oil giants such as Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited. Most fuel cards in India work on reward points where you can earn points every time you refuel your vehicle(s). Later you can redeem these accumulated reward points. We have listed out some of the best fuel credit cards in India in 2023.
10 Best Credit Cards for Fuel in India 2023
The table below provides a list of the best fuel credit cards 2023:
| Best Fuel Credit Cards | Fees and Charges |
| BPCL SBI Credit Card | Joining Fee: ₹499 Annual Fee: ₹499 |
| BPCL SBI Card Octane | Joining Fee: ₹1499 Annual Fee: ₹1499 |
| IndianOil Citi Credit Card | Joining Fee: NA Annual Fee: ₹1000 + taxes |
| ICICI Bank HPCL Coral Credit Card | Joining Fee: ₹199 + GST Annual Fee: NIL (First Year) ₹199 + GST (Second Year onwards, terms and conditions applicable) |
| IndianOil HDFC Bank Credit Card | Joining Fee: ₹500 (plus applicable taxes) Annual Fee: ₹500 (plus applicable taxes) |
| IndianOil Axis Bank Credit Card | Joining Fee: ₹500 and Life Time Free Offer for select channels Annual Fee: NIL (First Year) ₹500 (Second Year onwards) |
| HDFC Bank Bharat Credit Card | Joining Fee: ₹500 plus applicable taxes Annual Fee: ₹500 plus applicable taxes |
| Standard Chartered Super Value Titanium Credit Card | Joining Fee: ₹750 Annual Fee: ₹750 plus applicable taxes |
| ICICI Bank HPCL Platinum Credit Card | Joining Fee: ₹ 199 + GST Annual Fee: NIL (First Year)₹ 199 + GST (Second Year onwards) |
| RBL Bank Platinum Maxima Credit Card | Joining Fee: ₹750 Annual Fee: ₹2000 plus applicable taxes |
10 Best Credit Cards for Fuel in India (2023) – Detailed Overview
The details of the fuel cashback credit cards are as follows:
1. BPCL SBI Credit Card
This SBI card is in partnership with Bharat Petroleum Corporation Limited and is extremely accessible. An individual needs to have an annual income of Rs. 20,000 per month to qualify for this card. The annual fee is also affordable, making the card extremely popular for fuel purchases.
- Joining Fee: Rs. 499
- Annual Fee: Rs. 499
Features & Benefits
- You will get 2,000 bonus points as a welcome gift worth ₹500 when you pay the joining fee
- Users will be rewarded 1 point for every Rs 100 spent on non-fuel purchases
- 1% surcharge waiver is applicable on fuel purchases up to Rs. 4.000
- Additionally, you will get 5x reward points for every Rs. 100 expenditure on departmental stores, dining and groceries
2. BPCL SBI Card Octane
The BPCL SBI Card Octane is the premium version of the previous card. However, it has many additional advantages that the BPCL SBI Credit Card does not offer. For example, you can get a 7.25% value back on BharatGas if you pay online or through some mobile application.
- Joining Fee: Rs. 1,499
- Annual Fee: Rs. 1,499
Features & Benefits
- As a welcome benefit, you will be gifted 6,000 reward points after you pay the annual fee
- Users will receive a 6.25%+ 1% fuel surcharge waiver on all transactions up to Rs. 4,000
- Individuals will get 25 reward points for every Rs. 100 from the website and app on products like BharatGas, BPCL fuel and lubricants
- You will also get 4 complimentary visits each calendar year to domestic VISA lounges
- Moreover, if you spend Rs. 3 lakh annually, you will be gifted a voucher worth Rs. 2,000 from partner brands
- 10 reward points will be gifted on every Rs 100 spent on groceries, movies, dining and departmental stores
- Except for mobile wallet upload & non-BPCL fuel purchases, you will get 1 point on every Rs. 100 retail purchases
3. IndianOil Citi Credit Card
Indian Oil and Citi Bank partnered for this platinum card where you can earn 4 turbo points (TP) for every Rs. 150 you spend on buying fuel from Indian Oil outlets. The USP for this credit card is that you can gain up to 267 points on a single transaction.
- Joining Fee: Bank will communicate at the time of sourcing
- Annual Fee: NA
Features & Benefits
- Users will get free TP worth Rs 250 on successful credit card activation
- 2 and 1 TP reward on every Rs 150 spent on supermarkets or grocery expenditures and other purchases, respectively
- Individuals can redeem these TP points for gift vouchers
- Additionally, one can get travel discounts and special privileges and discounts on dining
4. ICICI Bank HPCL Coral Credit Card
This fuel credit card allows users to earn PAYBACK and cashback points. It is highly accessible and easy to maintain as the joining and annual fees are extremely low. Individuals who purchase fuel from HP petrol pumps can often benefit greatly from this card.
- Joining Fee: Rs. 199
- Annual Fee: Rs. 199 (exempted after spending Rs 50,000 in a year)
Features & Benefits
- Members will be rewarded 2 PAYBACK Points for every Rs. 100 purchase
- Users will get 2.5% cash back on fuel purchases and a 1% fuel surcharge waiver at HPCL pumps
- You can redeem 2000 PAYBACK points for fuel worth Rs. 500
- 25% off on movie ticket booking from BookMyShow
5. IndianOil HDFC Bank Credit Card
Indian Oil HDFC credit card is one of the best credit cards for fuel purchasers residing in non-metro cities. Further, it comes in both VISA and RuPay variants. You can use this card to earn ‘fuel points’ by spending on any category. Later you can use these points to buy fuel from Indian Oil petrol stations.
- Joining Fee: Rs. 500
- Annual Fee: Rs. 500 (waived off on an expenditure of Rs. 50,000 using this card)
Features & Benefits
- Individuals will get a complimentary Indian Oil XTRAREWARDSTM Program (IXRP) membership with this card
- You will get 5% of the bill amount as fuel points from fuel purchases from Indian Oil outlets
- Additional 5% fuel points on purchases from groceries and bill payments
- You will also get a 1% surcharge waiver on a minimum transaction of Rs. 400
- Moreover, one can get up to 50 litres of fuel for free in a year with these fuel points
6. IndianOil Axis Bank Credit Card
This card gives you decent returns on both fuel and online expenditures. Moreover, it rewards users with 4% returns on fuel expenses in the form of Edge rewards. The card is designed specifically to waive the annual fee.
- Joining Fee: Rs. 500
- Annual Fee: Rs. 500 (waived when you spend Rs. 50,000 in the previous year)
Features & Benefits
- Rs. 250 cash back on all fuel transactions within 30 days after the card is issued
- One can get accelerated reward points on a transaction between Rs. 100 to Rs. 5,000 per month from any Indian Oil outlet
- Additionally, you will get a 1% surcharge waiver on transactions between Rs. 200 to Rs. 5,000
- 4% and 1% value back on fuel transactions and online shopping, respectively
7. HDFC Bank Bharat Credit Card
As the name suggests, you can earn cashback with this credit card. Moreover, this is a beginner-level credit card for petrol expenses. Therefore, you can save a lot from using PayZapp/EasyEMI/ SmartBUY for online payments. Additionally, you can save up to Rs. 3,600 with this credit card.
- Joining Fee: Rs. 500
- Annual Fee: Rs. 500 (waived off with Rs. 20,000 expenditure)
Features & Benefits
- 5% cash back on purchases made through payment gateways like PayZapp/EasyEMI/ SmartBUY
- 5% cashback on fuel expenses and IRCTC tickets booking, groceries, bill payments, and mobile recharges
- Individuals will get a 1% surcharge waiver after spending Rs. 400 on fuel
8. Standard Chartered Super Value Titanium Credit Card
With this card, You will get 5% cashback on fuel transactions at all petrol pumps in India with this credit card from Standard Chartered Bank. Further, the bank will exempt the renewal fee if the annual expenditure increases by Rs 60,000.
- Joining Fee: Rs. 750
- Annual Fee: Rs. 750
Features & Benefits
- Users will get 5% cashback on fuel purchases, telecom and utility bill payments
- Additional 20% cashback on every Uber ride
- You will receive 1 reward point on every Rs 150 spent on all categories
9. ICICI Bank HPCL Platinum Credit Card
This is easy to avail of, and cardholders get various offers that help them earn points and cashback that they can redeem during fuel transactions. Moreover, this card waives off the first year’s annual fee for all its users.
- Joining Fee: Rs. 199 + GST
- Annual Fee: Rs 199 + GST
Features & Benefits
- Cardholders will receive 2.5x payback points every time they spend Rs. 100
- 5x payback points on every purchase at any HPCL outlet
- Further, this card offers a 2.5% surcharge waiver for all fuel transactions at an HPCL outlet
- Fuel transactions up to ₹4000 will be free from 1% fuel surcharge at HPCL pumps
- You will also get an additional 2.5% cashback on all fuel transactions from HPCL petrol pumps
10. RBL Bank Platinum Maxima Credit Card
This card is an all-rounder credit card where you can earn extra points every time you purchase fuel. One should be above the age of 18 to avail this card and also have a high credit score.
- Joining Fee: Rs. 750
- Annual Fee: Rs. 2,000
Features & Benefits
- Get 2 reward points on every ₹100 spent on all of your purchases
- Further, users can also get 10 reward points on every Rs.100 they spend on utility bill payments, dining, international purchases and entertainment
- Earn 63,400 total reward points
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Benefits of Having a Fuel Credit Card
Given below are some of the advantages of having a fuel credit card:
1. Annual Charge Waiver
If the fuel credit card holder carries out transactions of a certain amount, he gets an annual charge waiver benefit. Moreover, the financial institution might increase the card’s transaction limit as well.
2. Surcharge Waiver
Certain banks also provide the benefit of surcharge waivers at designated partner outlets. As the surcharge comprises a considerable portion of fuel price, waiving off even a small percentage leads to large savings over a long time.
3. Cashback
Every time people spend a minimum amount at petrol pumps across the country, they receive a certain cashback. The amount is directly credited to the user’s bank account.
4. Reward Points
Another important benefit of fuel credit cards is it allows cardholders to accumulate reward points. They can redeem these reward points while purchasing from various stores or websites.
5. Discounts at Partner Restaurants
Many fuel credit card providers offer lucrative discounts at partner restaurants. As a result, people get the opportunity to save money while using the card.
6. Bill Payments
The vouchers and reward points people receive when using a fuel credit card can be used to pay electricity, telephone and water bills.
How Do Fuel Credit Cards Work?
Fuel credit cards are specially designed to help people save money when they stop at a petrol pump to fill their vehicle. However, in order to avail the benefits of a fuel credit card, people must use it for fuel transactions.
With every transaction, the user accumulates reward points, cashbacks, discounts and some exclusive benefits.
Generally, these cards offer a waiver on the fuel surcharge that people are required to pay when they use a normal credit card. They are suitable for people who use their vehicles frequently as it lets them save a considerable sum of money.
Let us illustrate this further with an example. Suppose you have a fuel credit card from a bank which is partnered with Indian Oil. Then, you will get many attractive benefits whenever you refuel your car at an Indian Oil petrol pump.
How to Apply for a Fuel Credit Card?
Given below are the steps that individuals can follow to apply for a fuel credit card:
Online Process
Given below are the steps to apply for a fuel credit card online:
- Step 1: Visit the official website of the bank from where you would like to get a fuel credit card.
- Step 2: Navigate to the ‘Credit Cards’ section.
- Step 3: Choose a credit card after checking its benefits, rewards and transaction limits.
- Step 4: Provide all the required details and attach the necessary documents.
- Step 5: Click on the ‘Submit’ button.
Offline Process
Given below are the steps to apply for a fuel credit card offline:
- Step 1: Visit the nearest financial institution branch from where you wish to procure a fuel credit card.
- Step 2: Fill up the application form.
- Step 3: Attach and submit all the requisite documents.
- Step 4: Wait for the bank to complete the verification process and provide the fuel credit card.
Please note that the application process could vary from card issuer to issuer.
How to Choose the Best Credit Card for Fuel in India?
Here’s what you should keep in mind while choosing the best card for fuel purchases are:
1. Usability
You need to choose a card that you can easily use at all petrol pumps.
2. Annual Fees
The cards with higher annual fees provide a lot of additional advantages than cards with lower joining and annual fees.
3. Fuel Surcharge
You can choose a card that offers a fuel surcharge waiver to save money.
4. Redeemable Points & Rewards
While opting for a fuel credit card, you should check that the points and rewards are redeemable; otherwise, it’s of not much use.
Final Word
This list of best credit cards for fuel 2023 will help you find a suitable fuel credit card that will let you save money on annual fuel expenses. You can choose from co-branded credit cards or cards from banks where you have been loyal customers.
However, using credit cards for high-value purchases could call for higher interest rates. So, in case you need urgent cash to make a big-ticket purchase, you can take a Navi Cash Loan. With Navi, you can get instant loans up to Rs. 20 lakh in a 100% paperless manner.
Currently, most of the excise duty levied on petrol (96%), and diesel (94%) is in the form of cess and surcharge. The total excise amount on petrol is around Rs. 19.90 a litre and around Rs. 15.80 for diesel.
Users must pay a transaction fee every time they use a credit card for online/offline transactions. The amount is around 2%-3% of the amount the user must pay. The transaction charge and the actual charge at any petrol pump comprise the fuel surcharge.
Users of fuel credit cards get to pay a reduced transaction fee. This is commonly referred to as a fuel surcharge waiver. It is an important benefit of using fuel credit cards.
The eligibility criteria for applying for an SBI BPCL Credit Card are as follows:
1. Applicants must have a good credit score, preferably 750 or above.
2. They have to be between 18 – 60 years of age.
3. They need to keep ready all the specified documents.
Yes, fuel credit cards can help customers pay fuel charges against the backdrop of rising fuel prices. Moreover, these fuel credit cards come with various attractive features and benefits that enable people to save on other purchases as well.
Nowadays, financial institutions offer fuel credit cards with various benefits including fuel surcharge waiver, extra reward points upon purchases at specific points and earned via tie-ups between multiple institutions. Upon using these credit cards, people can save money on fuel.
Fuel surcharge is the charge that people have to pay upon purchasing or using petroleum or diesel. Generally, it is a certain percentage of the total fuel or service cost. In other words, it is a charge levied on customers by businesses selling fuel or petroleum products.
Disclaimer
This article is solely for educational purposes. Navi doesn't take any responsibility for the information or claims made in the blog.
