Who knows it better than you that a credit card is the most versatile financial instrument you can lay hands upon.
If credit cards are a reason to save money, then Indian card issuers are making it easier with innovative, out of the box credit cards. They are continually improvising, collecting feedback from existing customers, and creating cards that can satisfy the cravings of even the pickiest card user.
One such card that has been generating the right buzz among travelers is the credit card for fuel. It makes traveling a much better experience, especially when fuel prices seem to follow only one direction – up.
The who’s who in the credit card industry have all come up with many credit cards for fuel and each of them promises unrivaled benefits. But, as a customer, sometimes the noise might be overwhelming.
However, choosing the best credit card for fuel isn’t as difficult in reality as it seems on paper.
What Really Matters
Fuel prices in India depend on factors like global crude oil prices, transportation and refining costs, currency rates, and government taxes. As all these factors are beyond your control, the best thing you can do to reduce your fuel bills is to avail a credit card that gives maximum rewards.
A fuel credit card is a card that offers you rewards in the form of cashback, discounts, or waivers every time you refill your vehicle’s tank at a petrol pump. You may redeem the rewards to purchase more fuel or spend on anything the card issuer allows you to.
The Top Credit Cards for Fuel and Perks You Can Get
Here is a list of the ultimate credit cards for fuel that not only boasts of low joining and annual fees but also offers best-in-class rewards and cashback.
If the concept of cashback excites you, then the Standard Chartered Super Value Titanium Credit Card or HDFC Bharat Credit Card is all you need to get a good start.
With the SC Super Value Titanium card, you can get the following benefits:
- Free Paytm First membership when you apply for a new card
- 5% cashback of up to INR 200 every month on fuel purchases below INR 2000
- 5% cashback when you pay telephone bills above INR 750.
- 5% cashback when you pay utility bills above INR 750
- One reward point for spending INR 150 on the card
- A Premium Banking customer can get one free lounge access every month at over 1000 airports worldwide
- Facility to convert purchases above INR 5000 into EMIs
- A low monthly interest rate of 3.1%
- Nil joining fee
- Low annual fee of INR 750/-
To avail of the SC Super Value Titanium credit card, your age must be between 21 and 65, and you should have a stable source of income.
The HDFC Bharat credit card comes with the following features:
- 5% cashback every month when you book tickets through the IRCTC website or app
- 5% cashback on fuel transactions
- 1% fuel surcharge waiver up to INR 250
- 5% cashback every month on grocery purchases
- 5% cashback every month on mobile recharges or bill payments
- 5% cashback every month when you make transactions on PayZapp, and SmartBUY
- Total savings of up to INR 3,600 every year
- Low joining fee of INR 500
- The annual fee of INR 500 will be reversed if you spend INR 50,000 on the card, annually
Any person between the age of 21 and 65 is eligible to avail of the card. In the case of a salaried professional, the minimum income criteria is INR 12,000 per month. For self-employed, the minimum income criteria is INR 2 lakhs annually.
2. Free Fuel
Do you want to get free fuel? Then you must opt for the one of its kind IndianOil Citi Credit Card. The features you may expect from the card are as follows:
- Free fuel up to 71 liters
- Four Turbo points for every fuel purchase of INR 150 at IndianOil outlets
- Reversal of 1% fuel surcharge when you refill at IndianOil outlets
- Two Turbo points for every INR 150 you spend at a supermarket or grocery store
- One Turbo point for every INR 150 you spend for other purposes
- Each Turbo point is equivalent to Re. 1, and the points never expire
- Free 250 Turbo points when you spend within the first thirty days of card activation
- The annual fee of INR 1000 will be waived off if you spend more than INR 30,000 in a calendar year
- Low monthly interest of 3.25%
The eligibility criteria to apply for the IndianOil Citi Credit Card is simple. You have to be an Indian citizen above 18 years and must have a stable source of income.
3. Against Fixed Deposit
If you want to get a credit card that offers you all features that you can get from a credit card for fuel and yet pay nearly nothing, then the Bank of Baroda Financial Prime Credit Card is your card.
The features that you can get from the card are:
- No income proof required if you maintain a fixed deposit of INR 15,000 with BoB
- Four reward points for every INR 100 you spend on the card
- Zero annual fees
- A fuel surcharge of 1% is waived off if you make a fuel transaction between INR 400 and 5,000
- Facility to convert purchases of INR 2,500 and above into EMIs
- Facility to get three add-on cards for family members
- No joining fee
There are no specific eligibility criteria for availing of the BoB Financial Prime Credit Card, except a fixed deposit of INR 15,000.
4. No Income Proof
If you cannot manage an income proof, and yet want to get a card that offers impressive cashback, then ICICI HPCL Platinum Credit Card can fit your wallet perfectly.
Here are the features you may expect from the card:
- 2.5% cashback of up to INR 100 every month
- 1% fuel surcharge will be waived off if you make a fuel transaction below INR 4,000
- 2 points for every INR 100 spent
- If you accumulate 2000 points, you can get free fuel worth INR 500
- A low annual fee of INR 199 will be waived off if you make transactions worth INR 50,000 in a calendar year
- No age or income criteria
- Low joining fee of INR 199+GST
- A monthly interest rate of 3.40%
Applying for an Axis Bank Credit Card and paying your bills through CRED can be a life-changing experience if you have a decent credit score. But it is advisable to not take a personal loan to pay your credit card debt. Use the cibil score calculator to check your credit score before applying for an Axis Bankcard. Having a high CIBIL score can put you on a better platform to negotiate the interest rates.