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Fuel expenses are a major part of the monthly budget for many Indians. Choosing the right credit card can help you save significantly on these recurring costs. With multiple fuel credit cards and co-branded options available, it’s important to know which card structure can offer more value for your fuel and related spends. Here’s a detailed comparison of both these types of cards so that you can make an informed choice before you apply for a credit card in future.
Fuel credit cards are designed to provide rewards, cashback, or surcharge waivers on fuel purchases across multiple brands or outlets. These cards may also offer savings on other categories like groceries or utilities, making them versatile for daily use.
Co-branded fuel credit cards are launched in partnership between a bank and a specific fuel company (like HPCL, IndianOil, or BPCL). These cards are tailored for loyalists of a particular fuel brand, offering higher rewards, exclusive discounts, and additional perks at partner outlets.
Before choosing, it’s essential to compare welcome benefits, annual charges, eligibility, and key offers. The table below summarises these features for leading fuel-based cards:
Parameter |
Fuel Credit Cards |
Co-Branded Fuel Credit Cards |
|---|---|---|
Welcome Benefits |
Cashback or bonus points on first spend |
Cashback or bonus points on initial fuel transaction |
Annual Charges |
Usually up to ₹500 (often waived on annual spends) |
Usually up to ₹500 (waived on annual spends, varies by card) |
Eligibility |
Age 21+, income as per bank policy |
Age 21+, income ₹3 Lakhs+ (varies by bank/brand) |
Key Offers |
5% cashback on fuel, surcharge waiver, rewards on shopping |
Up to 7.25% value-back on partner fuel, surcharge waiver, lounge access |
Examples |
HDFC Bharat Credit Card, Kotak Fuel Credit Card |
ICICI HPCL Credit Card, IDFC HPCL Power+ Credit Card |
Welcome benefits may include cashback or reward points, credited after the first eligible transaction.
Annual charges are typically low and may be waived if you meet the annual spend criteria.
Eligibility is standard, but co-branded cards may require higher income for premium variants.
Key offers are more focused on fuel for co-branded cards, while generic fuel cards may provide broader rewards.
The earning potential of fuel credit cards and co-branded variants varies across spending categories.
Fuel Purchases:
Co-branded cards like ICICI HPCL Super Saver Credit Card and BPCL SBI Card OCTANE offer up to 7.25% value-back on fuel spends at partner outlets, combining cashback, reward points, and surcharge waivers.
Generic fuel credit cards may offer up to 5% cashback or equivalent points at any fuel station, but the highest rates are usually reserved for co-branded cards.
Shopping & Dining:
Many co-branded cards provide accelerated rewards on groceries and utility bills, such as 5% on these spends with IDFC FIRST HPCL Power+ Credit Card.
Generic fuel cards may offer moderate rewards (1–2%) on shopping, dining, or online spends, but not as high as on fuel.
Travel & Other Categories:
Some co-branded cards include travel perks like complimentary lounge access or roadside assistance, adding extra value for frequent travellers.
Generic cards may have limited travel benefits, focusing more on everyday spending.
Redemption:
Both card types allow redemption of points for fuel, merchandise, or statement credit. Co-branded cards may allow direct redemption at partner fuel stations, making the process seamless.
Disclaimer: The benefits of the respective credit cards mentioned above are added with reference to the information available at the time of writing. For the latest updates, please visit the official website.
Understanding the fee structure and waiver conditions helps maximise your savings. Here’s a comparison of five popular cards, using data from official bank websites:
Card Name |
Joining/Annual Fees |
Waiver Criteria |
Hidden Charges |
|---|---|---|---|
₹499/₹499 |
Waived on ₹1.5 Lakhs annual spend |
1% fuel surcharge, GST, late fee |
|
₹500/₹500 |
Waived on ₹1.5 Lakhs annual spend |
1% fuel surcharge, GST, late fee |
|
₹449/₹449 |
Waived on ₹50,000 annual spend |
1% fuel surcharge, GST, late fee |
|
₹500/₹500 |
Waived on ₹50,000 annual spend |
1% fuel surcharge, GST, late fee |
|
₹1,499/₹1,499 |
Waived on ₹2 Lakhs annual spend |
1% fuel surcharge, GST, late fee |
Disclaimer: The benefits of the respective credit cards mentioned above are added with reference to the information available at the time of writing. For the latest updates, please visit the official website.
Waiver criteria are usually spend-based, making it possible to avoid annual fees with regular use.
Hidden charges include fuel surcharge (often waived up to a cap), GST, and late payment fees. Always check these on the official card page before applying.
Card acceptance and payment flexibility are crucial for hassle-free usage.
Most fuel credit cards and co-branded variants are issued on Visa, Mastercard, or RuPay networks, ensuring wide acceptance across India and abroad.
Some cards, like IDFC FIRST HPCL Power+, are offered on RuPay Select, which supports UPI payments for added convenience.
While these cards are accepted internationally, fuel benefits typically apply only to domestic transactions at partner outlets.
Newer RuPay-based cards can be linked to UPI apps, allowing you to use your credit card for UPI payments at fuel stations and other merchants.
Both card types support contactless payments, EMI options, and online bill payments, making them suitable for a variety of payment needs.
Beyond fuel savings, many cards offer lifestyle and travel perks.
Complimentary domestic airport lounge access, roadside assistance, and movie vouchers.
Up to 5% cashback on fuel, 5% on groceries and bill payments, and access to exclusive ICICI Bank offers.
Personal accident insurance, discounts on partner merchants, and concierge services.
Up to 50 litres of free fuel annually, 5% fuel points on groceries and bill payments, and contactless payment support.
To sum up,
Lounge access is generally available on premium variants, adding value for frequent travellers.
Other perks like accident insurance, movie discounts, and roadside assistance enhance the card’s utility beyond fuel.
Disclaimer: The benefits of the respective credit cards mentioned above are added with reference to the information available at the time of writing. For the latest updates, please visit the official website.
The best card depends on your spending habits and fuel station loyalty.
Brand-Loyal Fuel Users: If you consistently refuel at a specific brand (HPCL, IndianOil, BPCL), a co-branded card may offer higher rewards and seamless redemption at partner outlets.
Mixed Spenders: If you use multiple fuel brands or want broader rewards, a generic fuel credit card might be more flexible, offering moderate benefits across all stations.
Budget-Conscious Users: Entry-level cards like IndianOil Kotak or HDFC IndianOil are suitable for those seeking savings on fuel with low annual fees and easy waiver criteria.
Frequent Travellers: Choose a card with lounge access and travel perks, such as IDFC FIRST HPCL Power+ or BPCL SBI Card Octane, for added value during trips.
UPI Users: Opt for RuPay-based cards that support UPI payments, offering more flexibility at both fuel stations and other merchants.
Both fuel credit cards and co-branded fuel credit cards can help you save on rising fuel costs. The right choice depends on your preferred fuel brand, spending pattern, and need for extra perks. Compare features, check updated details on official bank websites, and pick the card that matches your lifestyle for maximum savings.
Co-branded cards like IDFC FIRST HPCL Power+ and ICICI HPCL Super Saver may offer up to 6.5% value-back on partner fuel spends, making them among the most rewarding for loyal users.
The best card depends on your fuel brand preference. For HPCL users, ICICI HPCL Super Saver and IDFC FIRST HPCL Power+ are strong options. For IndianOil, consider IndianOil Kotak or HDFC IndianOil Credit Card.
A dedicated fuel credit card or co-branded variant is better for saving on fuel, as regular credit cards rarely offer comparable benefits on fuel purchases.
Co-branded cards generally provide the highest discounts and rewards at partner outlets. For example, IDFC FIRST HPCL Power+ offers up to 6.5% value-back at HPCL stations.
Yes, if you spend regularly on fuel, a fuel credit card offers better savings through cashback, reward points, and surcharge waivers compared to standard credit cards.
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