Fuel prices are rising, and fuel is one of the costliest commodities in India. To counter this rise at the consumer level, many banks offer a fuel credit card, which helps consumers save on fuel purchases. They offer accelerated reward points, cashbacks, and co-branded benefits. Some of the best fuel credit card options available currently are:
Fuel Credit Card |
Joining/Annual Fees |
Best For |
₹1,000 + GST |
For every ₹150 spent on fuel at Indian Oil outlets in India, earn 4 Turbo Points
For every ₹150 spent at supermarkets and on groceries, earn 2 Turbo Points
For every ₹150 spent on dining and shopping, earn 1 Turbo Point
On spending ₹30,000 in a given year, the annual fee is waived for the next year
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₹499 |
2,000 bonus reward points as a welcome gift
For every ₹100 spent at departmental stores, groceries, and dining, earn 5X reward points
For every ₹100 spent on non-fuel purchases, earn 1 reward point
On fuel purchases of up to ₹4,000, get a 3.25% + 1% surcharge waiver
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3. ICICI Bank HPCL Platinum Credit Card |
₹199 + GST |
For every ₹100 that you spend, earn 2.5X accelerated reward points
For all other spends, earn 2 reward points
For every fuel transaction made at HPCL petrol pumps, earn cashback of up to ₹100
Spend a minimum of ₹50,000 in a year and get the annual fee waived for the next year |
₹1,499 |
6,000 bonus reward points, equivalent to ₹1,500, as a welcome gift
For every ₹100 spent on BPCL fuel and lubricants, earn 25 reward points
For every ₹100 spent on dining or at departmental stores and grocery purchases, earn 10 reward points
4 complimentary domestic VISA lounge visits in India per year |
|
₹500 |
Get 5% back on fuel transactions at any IndianOil outlet as ‘fuel points’
5% of grocery spends and utility bill payments as ‘fuel points’
For every ₹150 spent, earn 1 fuel point
For a minimum purchase of ₹400, earn a 1% surcharge waiver |
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₹500 |
100% cashback of up to ₹250 on fuel transactions
4% value back on fuel expenses
For every ₹100 spent at IOCL outlets, earn 20 reward points
For every ₹100 spent on online shopping, earn 5 reward points |
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7. ICICI HPCL Super Saver Credit Card |
₹500 |
Save up to 5% on fuel, departmental stores and utilities transactions
Get a discount of 25% on movie tickets
For every ₹100 spent on retail purchases, excluding fuel, earn 2 payback points |
You can easily apply for a fuel credit card online by following the steps mentioned below:
Step 1: Visit the Bajaj Markets official website.
Step 2: Go to the credit card section and browse through the range of credit cards.
Step 3: Compare the features and select the best fuel credit card.
Step 4: Enter the details requested, such as email ID, mobile number, etc.
Step 5: Click on ‘Apply’.
Step 6: Validate with the OTP.
Step 7: Fill in the form and check your eligibility for the chosen card.
The eligibility criteria to apply for a fuel credit card depend on the policies of the banks that offer such cards. To obtain a fuel credit card, you must:
Have a good credit score
Fulfil the minimum age and income criteria
You must have the following documents to get a fuel credit card:
Identity proof like Aadhaar card, PAN card, driving licence, voter ID card, or passport.
Address proof like electricity or telephone bill, driving licence, voter ID card, ration card, or passport.
Income proof, such as the latest payslip, Form 16, and Income tax (IT) return.
Age proof like birth certificate, passport, or voter ID card.
Other documents, such as a photocopy of your PAN card and Form 60.
Opting for a fuel credit card will give you access to several benefits, especially against fuel purchases, among other advantages. Based on the popular credit cards in circulation today, some of the main benefits offered are listed below:
Opportunity to earn reward points
Get cashback against the minimum transaction amount
Enjoy fuel surcharge waiver at partner pumps
Save on movie ticket bookings on BookMyShow and other popular online ticketing sites
Earn Turbo Points and accelerated rewards
Enjoy an annual fee waiver against milestone spends
Pay utility bills using earned points
Enjoy discounts on dining at partner restaurants
Avail interest-free credit for a significant period
Some of the best fuel credit cards that you can opt for include the BPCL SBI credit card, Indian Oil HDFC credit card, ICICI Bank HPCL Platinum credit card, IndianOil Citi credit card, IndianOil Axis Bank credit card, etc.
The minimum income to apply for an IndianOil HDFC credit card should be ₹10,000 per month.
For every ₹150 spent on fuel at Indian Oil outlets in India, you can earn 4 Turbo Points. For every ₹150 spent at supermarkets and on groceries, you can earn 2 Turbo Points. Also, for every ₹150 spent on dining and shopping, you can earn 1 Turbo Point.
When selecting the best fuel credit card, look for one with a low-interest rate but with a large number of benefits such as discounts, cashback, etc. Also, the type of fuel-related offers you get on the card should match your needs.
Yes, it is good to use a fuel credit card for petrol or diesel as it helps save you money on every fuel purchase.
A fuel credit card helps reduce fuel charges to a certain extent by providing surcharge waivers.
Before selecting a fuel benefit credit card, you must keep a few things in mind:
Look for a fuel discount credit card that has the best interest rate, as it would allow you to repay the borrowed amount with ease
Analyse your monthly fuel charges before getting a credit card so that you can avail maximum benefits
Check the fees and charges levied on the fuel credit card so that the costs do not outweigh the benefits
Check the type of fuel-related offers you can get on the credit card and match them to your needs
Ensure that the fuel credit card’s offers can be easily redeemed to enjoy the benefits