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.
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
The details of the fuel cashback credit cards are as follows:
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Given below are some of the advantages of having a fuel credit card:
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.
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.
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.
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.
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.
The vouchers and reward points people receive when using a fuel credit card can be used to pay electricity, telephone and water bills.
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.
Given below are the steps that individuals can follow to apply for a fuel credit card:
Given below are the steps to apply for a fuel credit card online:
Given below are the steps to apply for a fuel credit card offline:
Please note that the application process could vary from card issuer to issuer.
Here’s what you should keep in mind while choosing the best card for fuel purchases are:
You need to choose a card that you can easily use at all petrol pumps.
The cards with higher annual fees provide a lot of additional advantages than cards with lower joining and annual fees.
You can choose a card that offers a fuel surcharge waiver to save money.
While opting for a fuel credit card, you should check that the points and rewards are redeemable; otherwise, it’s of not much use.
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.
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