Traveling on a weekend or commuting to work fuel is necessary. It is a kind of expense that is ongoing and keeps building up.
But what if you could cut down on those fuel costs?
Here fuel credit enters offering great benefits, discounts, and cashback every time you refuel your vehicle. If you are keen to know which fuel credit card will work best for you in the year 2024, this may be the place to come.
Fuel credit cards, as the term goes, come with cashback, reward points, or discounts that would help you save on fuel. Whatever one drives, the use of a fuel credit card brings down overall costs.
This article will help you find the best-preferred fuel credit card for yourself based on its unique features, fees, and rewards.
Is a Fuel Credit Card Right for You?
Before explaining what a fuel credit card is, let’s understand the idea behind it. Skyrocketing fuel prices burn a hole in your pocket every time you stop at a pump.
The fuel credit cards will help fight rising fuel prices by assuring discounts, cashback, or reward points that help ease the burden.
Besides savings, most fuel credit cards come with additional benefits, such as lounge access, restaurant discounts, and reward points on shopping. These fringe benefits turn fuel credit cards into a very important financial instrument for controlling your expenditure on lifestyle and travel.
Best Credit Card For Fuel in India 2024
Some of the best fuel credit card alternatives are available in 2024, so if you drive a lot and want to save money on fuel, you can collect rewards at the pump.
| Credit Card | Joining Fee |
|---|---|
| IndianOil Axis Bank Premium Credit Card | ₹1,000 + GST |
| BPCL SBI Octane Credit Card | ₹1,499 + GST |
| IndianOil HDFC Bank Credit Card | ₹500 + GST |
| IDFC HPCL First Power Plus Credit Card | ₹499 + GST |
| IndianOil Axis Bank RuPay Credit Card | ₹500 + GST |
| BPCL SBI Credit Card | ₹499 + GST |
| IDFC HPCL FIRST Power Credit Card | ₹199 + GST |
| HPCL Bank of Baroda ENERGIE Credit Card | ₹499 + GST |
| Standard Chartered Super Value Titanium Credit Card | ₹750 + GST |
| ICICI Bank HPCL Super Saver Credit Card | ₹500 + GST |
Best Fuel Credit Card In India
These are the top fuel credit cards that will be offered in India in 2024 for your review. Because each card takes into account different qualities, depending on your requirements, one may be the best option.
1. IndianOil Axis Bank Premium Credit Card
The joining fee for the IndianOil Axis Bank Premium Credit Card is ₹1,000 plus GST.
Ideal For: Gas, Transportation, Dining
Principal Advantages:
- Fuel at IndianOil locations earns 6X EDGE Reward Points.
- Double EDGE Points for groceries.
- Free access to domestic airport lounges.
- Reductions on Zomato purchases.
The IndianOil Axis Bank Premium Credit Card is one of the best avenues for any person who frequently uses fuel. This credit card offers great returns on fuel purchases apart from additional benefits that include access to airport lounges and restaurant discounts. With premium benefits, save more on gasoline.
2. BPCL SBI Octane Credit Card
The starting fee for the BPCL SBI Octane Credit Card is ₹1,499 plus GST.
Ideal for: Travel, Fuel, and Shopping
Principal Advantage:
- 7.25% value-added refund on fuel purchases made at BPCL stations.
- Free access to airport lounges.
- As a welcome bonus, receive 6,000 additional reward points.
- Milestone bonuses would be ₹2,000 worth of vouchers.
SBI BPCL Octane is one of the best options, especially for those who frequently refuel at BPCL gas stations. This card rewards you handsomely in cashback and points redeemable towards a host of privileges that are superbly crafted, keeping in mind gasoline savings. Besides, it offers exclusive travel benefits and lounge access.
3. IndianOil HDFC Bank credit card
₹500 + GST is the activation fee for the IndianOil HDFC Bank credit card.
Ideal For: Fuel
Principal Advantages:
- Receive up to 50 liters of free fuel per year.
- You can exchange fuel points for a variety of benefits.
- Charge waiver based on spending.
Anyone searching for a low-cost credit card with significant fuel benefits might consider the IndianOil HDFC Bank Credit Card. This card eases the financial burden of your everyday fuel bills with its cheap membership fee and point redemption system. If you want compensation for each fill-up, this is an excellent choice.
4. IDFC HPCL First Power Plus Credit Card
The initial activation fee for the IDFC HPCL First Power Plus Credit Card is ₹499 + GST.
Ideal For: Fuel and lifestyle advantages
Principal Advantages:
- 6.5% off your gasoline purchases.
- Receive a ₹500 reward on your initial fuel transaction with HPCL.
- Savings when using Swiggy.
It is co-branded by IDFC First Bank and HPCL, rewarding day-to-day expenses such as grocery and restaurants, offering excellent savings on fuel purchases. In general, this is a generalist card combining everyday rewards with fuel perks.
5. IndianOil Axis Bank RuPay credit card
The initial membership fee for the IndianOil Axis Bank RuPay credit card is ₹500 + GST.
Ideal for: Shopping and Fuel
Principal Advantages:
- 100% cashback on your first petrol purchase, up to ₹250.
- 15% off movie tickets when using BookMyShow.
- Spend-based yearly fee exemption.
The IndianOil Axis Bank RuPay Credit Card is intended to meet your demands for both purchases and petrol. You receive rewards for your gasoline purchases along with food and entertainment discounts. It’s a flexible card with many benefits that are also reasonably priced.
6. BPCL SBI Credit Card
Membership Fee for the BPCL SBI Credit Card: ₹499 + GST
Ideal For: Fuel
Principal Advantages:
- 4.25% return on fuel purchases.
- As an introductory bonus, receive 2,000 bonus reward points.
- Extra benefits in department stores and grocery stores.
Regular refuelers at BPCL pumps would love this partnered credit card from SBI. It’s a balanced option for daily use, offering reward points on necessary expenditures other than fuel savings.
7. IDFC HPCL FIRST Power Credit Card
The initial enrollment fee for the IDFC HPCL FIRST Power Credit Card is ₹199 + GST.
Ideal For: Fuel
Principal Advantages:
- 5% Savings in gasoline transaction savings.
- 2.5% reduction in grocery and energy costs.
- Rewards points with no expiration date.
This card consistently gives savings on groceries, electricity, and gasoline thanks to its cheap annual fee. Additionally, you can use your reward points whenever you’d like because they never disappear.
8.HPCL Bank of Baroda ENERGIE Credit Card
The opening fee for the HPCL Bank of Baroda ENERGIE Credit Card is ₹499 + GST.
Ideal for: Shopping and fuel
Principal Advantages:
- Earn 24 reward points for every ₹150 you spend at HPCL pumps on petrol.
- Free access to the domestic lounge.
- Waiver of the 1% fuel surcharge.
Besides super value on gas, the Standard Chartered Super Value Titanium Credit Card rewards you extra when you shop and dine out. If you’re in the market for a card offering lifestyle benefits along with fuel savings, this card will be an excellent option.
9. Standard Chartered Super Value Titanium Credit Card
The activation fee for the Standard Chartered Super Value Titanium Credit Card is ₹750 plus GST.
Ideal For: Fuel, Dining, and Shopping
Principal Advantages:
- During the first ninety days, there will be cashback of up to ₹1,500 on petrol transactions.
- Free subscription to Priority Pass.
- Charge waiver based on spending.
Along with fantastic gas savings, the Standard Chartered Super Value Titanium Credit Card also gives you extra rewards when you shop and eat out. If you’re searching for a card that offers lifestyle benefits and fuel savings, this is a fantastic choice.
10. ICICI Bank HPCL Super Saver Credit Card:
Membership Fee for ICICI Bank HPCL Super Saver Credit Card: ₹500 + GST
Ideal for: Transportation, amusement, and fuel
Principal Advantage:
- 6.5% reward on fuel purchases made at HPCL locations.
- Free access to airport lounges.
- BookMyShow offers movie tickets at a 25% discount.
The ICICI Bank HPCL Super Saver Credit Card offers huge savings on fuel with top-of-the-line travel and entertainment benefits. In general, it is a very good card for a person who spends a lot on fuel but wants to enjoy upscale perks, such as lounge access and movie discounts.
Comparison of Best Fuel Credit Cards
A Simple Comparative Analysis of Some of the Most Performing Fuel Credit Cards in India in terms of their various fees, rewards, and benefits that come along.
| Credit Card | Fee (₹) | Rewards | Point Value |
|---|---|---|---|
| IndianOil Axis Bank Premium Credit Card | 1,000 + GST | 6X EDGE Miles for every ₹150 spent at IndianOil, 2X on groceries, 1X on all other purchases. | ₹1 per EDGE Mile |
| Indian Oil Axis Bank RuPay Credit Card | 500 + GST | 20 Reward Points per ₹100 on fuel at IOCL outlets, 5 Reward Points per ₹100 on online shopping. | ₹0.20 per Reward Point |
| IDFC HPCL First Power Plus Credit Card | 499 + GST | 30X Reward Points on HPCL fuel and LPG, groceries, and utility spends. | ₹0.25 per Reward Point |
| BPCL SBI Card | 499 + GST | 13 Reward Points per ₹100 on BPCL fuel, 5 Reward Points per ₹100 on dining, movies, and groceries. | ₹0.25 per Reward Point |
| BPCL SBI Card OCTANE | 1,499 + GST | 25 Reward Points per ₹100 on BPCL fuel, 10 Reward Points per ₹100 on dining, movies, and groceries. | ₹0.25 per Reward Point |
| IDFC HPCL FIRST Power Credit Card | 199 + GST | 21X Reward Points on HPCL fuel and LPG. | ₹0.25 per Reward Point |
| HPCL Bank of Baroda ENERGIE Credit Card | 499 + GST | 24 Reward Points per ₹150 on HPCL fuel, 10 Reward Points per ₹150 on groceries and departmental stores, 2 on others. | ₹0.25 per Reward Point |
| Standard Chartered Super Value Titanium Card | 750 + GST | 5% cashback on fuel, utility, and phone bills (no reward point system). | No Reward Points |
| ICICI Bank HPCL Super Saver Credit Card | 500 + GST | 5% cashback on HPCL fuel, 1.5% value back using HP Pay, 20 PAYBACK Points per ₹100 on utility and departmental stores. | ₹0.25 per PAYBACK Point |
Fuel Credit Card Advantages
Fuel credit cards serve more than just a means of reducing fuel costs. They have several benefits that might increase the overall worth of your expenditures. Below is a summary of the main advantages:
- Fuel Savings: Whether you drive frequently or not, these cards will help you save money on fuel purchases, which can lower your total fuel costs.
- Travel & Lifestyle Benefits: There are additional benefits offered on airfare discounts, lounge access, or special lifestyle offers that come along with some of the premium fuel credit cards. These enhance the overall value of the card.
- Co-branded Benefits: If you have a co-branded fuel credit card, then extra privileges await you at select fuel stations, where extra points or savings at the pumps will be credited to you for BPCL, HPCL, or Indian Oil.
- No Extra Fee: You can use your fuel credit card to pay for fuel, without additional fees that apply when using a regular credit card.
- Savings on Fuel Surcharge: The primary advantage is the waiver of fuel cost that usually occurs when making a transaction involving fuel. Every time you buy fuel, it will save you some amount.
- Cashback on Other Types: Many gasoline cards provide cashback on things other than petrol, such as dining out, groceries, and utility bills. It extends the card’s usefulness beyond gasoline purchases to everyday spending.
Vital Factors to Take Into Account Before Selecting a Fuel Credit Card
One must carefully weigh several elements before selecting the best fuel credit card. Here’s how to make sure you choose the card that most closely matches your requirements:
- Calculate your monthly fuel costs first: Verify that the card you select has perks corresponding to how often you spend money on gas. If you spend a lot of money on petrol, get a card with larger fuel benefits.
- Fuel Brand Preference: Be mindful of the brands the fuel card is compatible with. Certain cards provide greater rewards at some gas stations (BPCL, HPCL, Indian Oil, etc.). Select a credit card that grants benefits at the stations you visit most regularly.
- Fees & Charges: Be mindful of any additional unexplained costs associated with the card, including the joining and renewal fees. Check if the card’s advantages exceed these drawbacks.
- Interest Rates: You may want to consider credit cards offering competitive interest rates if you think you’ll carry a balance. Paying off debt with a lower interest rate could be easier without racking up a high amount of interest.
- Other Perks: With gasoline savings, check for extra benefits like cashback on groceries, restaurants, and energy bills. Credit cards that provide rewards. Cards that offer a variety of rewards across categories will provide more value for your money.
- Reward Redemption: Make sure that the incentives or cashback are easily redeemable. Look for cards that have straightforward and flexible redemption processes so you can reap the benefits without fuss.
- Customer Care & Usability: Check the level of customer support and how simple it is to manage your card using the bank’s website or app. Good customer service can make a significant difference in addressing difficulties fast.
Eligibility requirements for fuel credit cards
To be eligible for a fuel credit card, you need to satisfy the bank’s eligibility criteria. Following are the minimum eligibility criteria.
- Indian Resident: The applicant should have attained 18 years of age and must be resident of India.
- Employment Status: Every category of worker, whether salaried or self-employed, can apply for a fuel card.
- Income Requirements: These are the requirements for earnings as set by the bank, which you need to fulfill.
- Credit Score: The eligibility criteria for fuel credit cards include a good credit score to get approval for the same.
How to Apply for a Fuel Credit Card
Application procedure for fuel credit card is similar to the normal application process of credit card. Here’s a step-by-step guide to help you through the process:
- Type of Card: You can either apply for a regular fuel card or a co-branded card where it is restricted to one fuel brand only.
- Popular Cards: Check a few fuel cards to find what serves your needs best.
- Choose Your Card: After selecting the card you need, click the ‘Apply Now’ tab available on the website of the issuer.
- Fill in Your Information: Some personal information will be asked for, such as your name, PAN card number, and your mobile number.
- Submit Your Application Form: After filling out the form, submit it. Then, the bank will process your application.
Conclusion: Why a Fuel Credit Card Makes Sense
The fuel credit cards are perfect for people who refuel their vehicles from time to time. Along with rewards or cashback on the purchase of fuel, the facilities provided by the cards include a line of credit which, with time, can lead to pretty considerable savings. Most people think that fuel cards are used for rewards on fuel only. Many cards provide points for shopping, entertainment, and restaurants.
Knowing one’s requirements and spending habits is the key to selecting the perfect fuel credit card. You can opt for a card which can give you maximum savings and extra benefits that can fit into your needs once you weigh your options carefully.
FAQs
Q1. Is it possible to make non-fuel transactions with a fuel credit card?
Ans: Similar to standard credit cards, fuel credit cards are for various purchases. The best savings, meanwhile, are typically found on purchases connected to fuel.
Q2. Can I Receive a Certain Amount of Fuel Rewards?
Ans: There may be a monthly or annual cap on the number of rewards you may accrue with certain fuel credit cards. Read all the terms of each so you clearly understand what the rewards cap is, if any.
Q3. How to choose a fuel credit card? What to look at?
Ans: Think of incentive programs, yearly costs, fuel station acceptance, and other perks like roadside assistance. Choose a credit card based upon your driving habits and spending habits.
Q4. Do I have to fill up at a certain station to get rewards?
Ans: Some fuel credit cards work with specific petrol stations to get more benefits. See if your card provides additional rewards at your preferred station.
Q5. Should I get a fuel credit card if I don’t drive a lot?
Ans: A standard cashback or rewards card can be a better option if you don’t drive frequently. The greatest credit cards for fuel spenders are those that offer fuel discounts.