8 Best Credit Cards for Fuel Purchase in India: Benefits, Rewards, Cashback
Credit card industry is most competitive and to lure customers, banks are always on a look out for designing credit cards for specific customer segments. This is because every person needs credit cards for different purchase. Some prefer cards which are specifically for air travel offering benefits such as free air miles, lounge access etc. whereas some prefer cards for online shopping which offer cashbacks and discounts.
And with every increasing prices of petrol or diesel, consumers are always on a look out for options to save money on their fuel bills. Keeping this in mind there are also credit cards for fuels in India and banks tie-up with oil companies to offer various benefits to their customers.
Listed below are the best credit cards for fuel in India:
| Card Provider | Credit Card Name | Benefits |
|---|---|---|
| ICICI Bank | HPCL Coral Visa/MasterCard | 1) 5 PAYBACK Points on every Rs. 100 Spent 2) Redeem 2000 PAYBACK Points for fuel worth ₹ 500 3) 2.5% cashback 4) 2.5% (on fuel transactions of maximum ₹ 4,000) |
| ICICI Bank | HPCL Coral American Express Credit Card | 1) 6 PAYBACK Points per ₹ 100 spent 2) Redeem 2000 PAYBACK Points for fuel worth ₹ 500 3) 2.5% cashback 4) 2.5% (on fuel transactions of maximum ₹ 4,000) |
| ICICI Bank | HPCL Platinum Credit Card | 1) 5 PAYBACK Points on every Rs. 100 Spent 2) 2.5% cashback 3) 2.5% (on fuel transactions of maximum ₹ 4,000) |
| Citibank | IndianOil Platinum & Titanium Credit Card | 1) 4 Turbo Points on Rs.150 of fuel purchases 2) Redeem your Tur bo points for free fuel. 3) 1 Turbo Point gives you Rs.1 of free fuel. 4) If your bill amount exceeds Rs.10,000 in a single transaction, you will receive 4X Turbo Points for every Rs.150 up to Rs.10,000. 5) 2.5% fuel surcharge waived off |
| Standard Chartered (BPCL, IOC, HPCL or Reliance) | Super Value Titanium Credit Card | 1) 5% cash back on fuel purchase 2) 5% cash back on all telecom payments including phone bills across all service providers 3) 5% Cash back on electricity, gas and water bills 4) 2.5% fuel surcharge waived off |
| HSBC | MakemyTrip Credit Card, Gold and Platinum / Advance Platinum credit cards | Save 2.5% fuel surcharge for each fuel purchase between Rs. 400 and Rs. 4000 per transaction |
| SBI | SimplySave | 2.5% fuel surcharge waived off for each fuel purchase between Rs. 500 to Rs. 3000 |
| HDFC Bank | Platinum Plus | 1) Two reward points when you spend Rs. 150. 2) 50% more reward points if spend is above Rs. 50,000 3) 2.5% fuel surcharge waived off in every billing cycle |
What factors should be considered before opting for credit card for fuel purchase:
When it comes to credit card for fuel purchase, you should look for following features:
- Saving on fuel bill: The money saved on your fuel purchase.
- Participating outlets: The most important factor to be considered is whether credit card can be used at all fuel stations or not. It should not happen that cards can be swiped only at select petrol pump. Otherwise you will lose on benefits.
- Fuel surcharge waiver: Whether surcharge is fully waived-off or not.
- Total spend required to avail benefits is not very high.
- Annual fee: Normally credit cards which are targeted for specific purpose carry high annual fee. And the only way zero fee would be charged is after spending minimum amount on the card in a year. If this amount is not spent then a very high annual fee is charged. For e.g. IndianOil Citibank Platinum credit card carries a fee of Rs. 1000 if Rs. 30, 000 is not spent in the membership year. Check out no annual fee credit cards in India.
- Whether card is redeemable in a hassle free way.
Who should opt for such petroleum cards?
The main purpose of such cards is to save money on fuel bill and they are best suited for individuals who spend heavily on fuel such as:
- Who commute long distance every day such as office goers, transport and courier service providers, and others.
- Who enjoy travelling
With so many offers, card applicants should look for the best one which will save them good amount of money.
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