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Fuel Credit Card

Best Fuel Credit Cards

Last Updated 18th Jun 2021

Bank Fuel Credit Cards
Axis Bank My Zone Card
ICICI Bank HPCL Platinum Card
Citibank IndianOil Platinum Card, IndianOil Titanium Card
SBI BPCL Card

What Is A Fuel Credit Card?

The increasing cost of fuel makes expenditure on fuel a high cost for an individual. Fuel Credit Card is a type of credit cards, which provides maximum benefit to the cardholder at the time of purchasing fuel. It assists cardholders to make considerable savings in the fuel expenditure. The services on fuel credit cards come in the form of cashback, surcharge waivers and more.

Best Fuel Credit Cards in India for 2021

Fuel Credit Card Annual Fee Interest Charges
IndianOil Platinum Card ₹ 1,000 3.25%
IndianOil Titanium Card ₹ 1,000 3.25%
My Zone Card ₹ 500 3.40%
HPCL Platinum Card Nil 3.40%
BPCL Card ₹ 499 3.35%

IndianOil Platinum Card

The IndianOil Platinum Card by Citibank is fuel- rewards card that helps you save on your fuel expenses. You can avail up to 4 Turbo Points on fuel purchases at IndianOil petrol pumps which can be redeemed at select merchant outlets and online partners. The Citibank credit card offers great reward benefits on groceries, supermarkets, movies and dining. Turbo Points never expire, so you can redeem now or keep collecting for something big later. The card uses Visa network for the payments

Features of IndianOil Platinum Card
  • Get waiver on annual fee when you spend ₹30,000 or more on your Card in a year.
  • Redeem your Turbo Points for free fuel at over 1200+ authorized IndianOil Retail Outlets across the country. 1 Turbo Point gives you Rs.1 of free fuel
  • Redeem instantly at select merchant outlets and online partners
  • Redeem for gift vouchers across major brands.

IndianOil Titanium Card

Citibank has introduced this card in partnership with Indian Oil. The card offers array of benefits like turbo points on every transaction. Turbo points can be redeemed to get free fuel.

Features of IndianOil Titanium Card
  • Annual fee waiver of ₹1000 when you spend ₹30,000 or more on your Card in a year.
  • Earn turbo points that never expire and can be used anytime
  • Redeem turbo points against fuel spend at 950 IndianOil outlets across the country and to gift vouchers for brand products
  • Redeem turbo points against your purchases. Check turbo points anytime with just a sms
  • Redeem for gift vouchers across major brands.

My Zone Card

The My Zone card is offered by Axis Bank with unlimited benefits in the form of Reward Points.You also get cashback on movie ticket purchases, fuel surcharge waiver and complimentary access to airport lounges within India, and . A cardholder gets surcharge waiver of 1% of transaction amount (Refunded for fuel transactions between Rs. 400 to Rs. 4,000. Maximum benefits up to Rs. 400 per month).

Features of My Zone Card
  • Offers highest level of security, enabled with chip and pin facility for easy fraud detection
  • Enjoy complimentary access to airport lounges within India
  • Shop at apparel stores, departmental stores and supermarkets on weekends and get 5 times the eDGE loyalty rewards points
  • Exciting offers on movie ticket bookings, dining, shopping etc

HPCL Platinum Card

ICICI Bank came up with HPCL Platinum Card in partnership with Hindustan Petroleum. The HPCL Platinum cardholder can save on 1% fuel surcharge and they get a cashback for up to Rs 100 at HPCL pumps month on month, year on year.

Features of HPCL Platinum Card
  • Discounts applicable at 800 leading reastaurants across citites in India courtesy its treats program
  • Spend 50,000 or more annually and get joining fee of ₹199 reversed for that year
  • Earn 2 PAYBACK Points on every ₹100 spent on retail purchases except fuel

BPCL Card

It is a co-branded credit card launched jointly by SBI Card and Bharat Petroleum Corporation Ltd (BPCL). The card has been exclusively designed to provide the most attractive fuel saving benefits for the card holders.

Features of BPCL Card
  • Avail special offers on Fuel & retail purchases
  • Great Value back along with increased Safety through EMV Chip
  • Instant point redemption available at over 1200 automated fuel pumps

How to Choose The Best Fuel Credit Card?

Factors to consider while choosing the best fuel credit card are as follow:

  • Credit card spending: The most crucial decision while purchasing the credit card is the interest rate offered and fuel benefits.Individuals must choose a credit card with maximum fuel benefits.
  • Fuel spending pattern: Individuals must analyze the fuel spending pattern and should choose the credit card in line with the fuel spending pattern.
  • Fee and charges:The fee and costs associated with the credit cards may vary in banks or within the same bank for different types of fuel cards. The gains from fuel credit cards should be greater than the fees and charges. Greater the margin, the better the credit card.
  • Redemption process of card: Individuals must also consider the redemption process of the fuel credit card and should prefer those cards which offer instant redemption of points.

Eligibility Criteria for Fuel Credit Card

The eligibility criteria for a fuel credit card is:

  • Applicants should be in the age group of 18 to 60 years.
  • He or she should be a resident of India or a Non-Resident Indian.
  • He or she should have a permanent monthly income.
  • He or she should have a good CIBIL score.
  • He or she should be a frequent buyer of the fuel.

Fuel Credit Cards Benefits

Benefits of Fuel Credit Card are as follow:

  • Fuel credit cards offer reward points. Those points can be redeemed by the cardholders. The points can be used against a variety of options like shopping, travelling, dining etc.
  • Fuel credit cards provide a fee waiver from the payment of fuel. The individual is obliged to pay a surcharge in the price of the fuel purchased. If he uses the fuel credit card, then he gets the fee waiver, thus reduces the amount paid in buying the fuel.
  • Fuel credit cards also provide individuals with attractive welcome gifts.Thus welcome gifts can be used for a variety of purposes.

FAQs

What is a Fuel Surcharge Waiver?

During every purchase of fuel at the petrol pumps, the individual is obliged to pay a surcharge if the purchase is made through the use of a card. By using fuel credit cards, an individual is eligible for a fee waiver. This is known as a fuel surcharge waiver.

Which fuel credit card is best?

The most preferred Fuel credit cards are HPCL Platinum Card because of low annual fee of ₹ 0. IndianOil Platinum Card, IndianOil Titanium Card are better options as the interest charged on the card is very low at 3.25%.

Who Is Eligible To Apply For A Fuel Credit Card?

Residents of India or Non-Resident Indians in the age group of 18 to 60 years are eligible to apply for a fuel credit card.

How can I get a fuel card?

Individuals can apply for the fuel-based credit card either through offline or online medium. The individual is required to submit the required documents along with the filled-in application form to get access to the bank’s credit card.

Should I get a fuel card?

The decision to get a fuel credit card must be dependent upon fuel spending pattern. If the individual is a frequent buyer of fuel, then he should purchase the fuel credit card. Fuel credit cards reduce the overall cost in the purchase of fuel, provide welcome benefits and reward points which can be used to avail a variety of services like shopping, dining, travelling etc.

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

The eligibility criterion of the fuel credit card are as follow:

  • The age limit of 18 to 60 years.
  • Have a permanent monthly income with a good credit score.
  • A frequent buyer of the fuel.

What are the factors to consider before opting for a fuel credit card?

Individuals must consider the factors like credit card pattern, fuel spending pattern, fee and charges and redemption process of the card before applying for a fuel credit card.


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