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We all know the fluctuating prices of fuel every now and then. And we all strive to save on fuel whenever we can. One of the best ways to do so is by getting a fuel credit card. What’s more to that? You can even get rewards and cashback on these Credit Cards! But how? And what is a fuel credit card?
What is a Fuel Credit Card?
A fuel credit card is a type of credit card specifically designed for individuals who frequently purchase fuel. These cards often offer rewards, discounts, or cash back on fuel purchases, making them beneficial for drivers and frequent travellers. Some fuel credit cards are affiliated with specific gas stations, providing additional perks for loyalty, such as points for every litre purchased or discounts on fuel prices. They may also come with features like no annual fees, lower interest rates, and various incentives for spending on gas or related purchases.
Best Credit Card for Fuel in India
There are several credit card issuers and banks in India that offer the best rewards on credit cards for fuel. We have compiled a list of the best credit cards for fuel in India with their joining, annual, and renewal fees for your reference:
| Best Credit Card for Fuel | Joining Fee | Renewal Fee | Annual Fee |
| BPCL SBI Credit Card | 499 + GST | 499 + GST | |
| Indian Oil Kotak Credit Card | 449 | ||
| ICICI HPCL Coral Credit Card | 199 + goods and services tax | NIL | |
| IndianOil HDFC Bank Credit Card | 500 + Applicable Taxes | 500 + Applicable Taxes | |
| ICICI HPCL Super Saver Credit Card | 500 + goods and services tax | 500 + goods and services tax | |
| IndianOil Axis Bank Credit Card | 500 | 1st Year: Nil 2nd Year Onwards: Rs 500 | |
| IDFC First HPCL Power Credit Card | 449 | 2nd Year Onwards: ₹499 waived off on spends of ₹1,50,000 or more in a year | |
| HPCL BoB Energie Credit Card | 499 (Levied in the first statement) | 599 (Waived off on spending ₹50,,000 in a year) | |
| IndianOil Citi Platinum card | NIL | ||
| HDFC Moneyback Credit Card | 500 + Applicable Taxes | 500 + Applicable Taxes | |
| Standard Chartered Super Value Titanium Credit Card | NIL | NIL | |
| Kotak Royale Signature Credit Card | 1499 | 999 | |
| HDFC Bharat Cashback Credit Card | 500 + Applicable Taxes | 500 + Applicable Taxes | |
| TATA Star Titanium Credit Card | 499 + goods and services tax | 499 + goods and services tax | |
| IndianOil Citi Credit Card | 1000 |
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Features of the Best Credit Cards for Fuel
Below are some of the key features of the best credit cards for fuel in India:
BPCL SBI Credit Card
- Earn 5X Rewards Points for every ₹100 spent on dining, movies, department stores, and groceries
- Enjoy a 4.25% value back through fuel freedom benefits
- Fuel surcharge waived for transactions up to ₹4,000
Indian Oil Kotak Credit Card
- Save up to 5% at Indian Oil fuel stations
- Earn 2% in Reward Points on dining and grocery purchases<>
ICICI HPCL Coral Credit Card
- Enjoy cashback and value-back benefits
- Earn 2.5% cashback when refuelling at an HPCL station
- The maximum cashback limit is ₹100
IndianOil HDFC Bank Credit Card
- Enjoy a complimentary membership in the IndianOil XTRAREWARDSTM Program (IXRP)
- Earn 5% back in fuel points on purchases at IndianOil stations, grocery stores, and bill payments
- Receive 1 fuel point for every ₹150 spent in other categories, including UPI transactions
- Each fuel point is worth ₹0.20 as a statement credit or ₹0.96 when converted to XtraRewards Points (XRP)
- Redeem points against the rewards catalogue for up to ₹0.20
- Benefit from a 1% waiver on fuel surcharges, capped at ₹250 per month, for IOCL fuel purchases of at least ₹400
- Annual fee waived when spending ₹50,000 in a year
ICICI HPCL Super Saver Credit Card
- Get 4% cashback on fuel purchases at HPCL stations, with a maximum of ₹200 per month
- Earn an additional 1.5% savings as 6 reward points for every ₹100 spent at HPCL outlets through the HP Pay app
- Enjoy 5% back in reward points on grocery, department store, and utility bill expenses, capped at 400 points per month
- Receive 2 reward points for every Rs. 100 spent on other retail transactions
- Receive a bonus of 2,000 reward points for spending ₹5,000 within 45 days of getting your card and for paying the joining fee
IndianOil Axis Bank Credit Card
- Receive EDGE reward points equivalent to your first fuel purchase of up to ₹250 made within 30 days of getting your card
- Earn 4% back as 20 EDGE reward points for every ₹100 spent on fuel transactions ranging from ₹400 to ₹4,000 at IOCL outlets in India, capped at 1,000 points each month
- Get 1% back as 5 EDGE reward points for every ₹100 spent on online shopping between ₹100 and ₹5,000, limited to 250 points per month
- Accumulate 1 EDGE reward point for every Rs. 100 spent on other purchases
- Each EDGE reward point is valued at ₹0.20
IDFC First HPCL Power Credit Card
- Enjoy a ₹500 discount when you rent a car from ZoomCar
- Receive ₹250 as cashback on your first fuel purchase at an HPCL station, provided the transaction is at least ₹250
HPCL BoB Energie Credit Card
- The annual fee will be waived if you spend ₹50,000 in a year
- Enjoy a waiver on the 1% fuel surcharge when you buy fuel at an HPCL station
IndianOil Citi Platinum Card
- Get ₹250 worth of free TP upon successful card activation
- Earn 2 TP for every ₹150 spent at supermarkets or on grocery shopping
- Receive 1 TP for every ₹150 spent on other purchases
- Enjoy exclusive dining discounts and benefits
- Access travel discounts
- Redeem your TP for gift vouchers
HDFC Moneyback Credit Card
- Receive a bonus of 500 RP when you sign up
- Earn 2 RP for every ₹150 spent on various purchases
- Redeem your RP for cashback
- Use your RP for air miles and other rewards
- Get additional points for online shopping
- Spend ₹50,000 in a quarter to receive an e-gift voucher worth ₹500
Standard Chartered Super Value Titanium Credit Card
- Enjoy 5% cashback on utility bill payments
- Get 5% cashback on all bill payments
- Access priority pass for over 1,000 airports worldwide (1 complimentary access per month)
- Earn 5X points on overseas spending, available exclusively for premium banking members
Kotak Royale Signature Credit Card
- Earn 4X points for purchases made at restaurants, hotels, travel agencies, airlines, and on international transactions
- Receive two BookMyShow vouchers for your first transaction
- Enjoy complimentary lounge access at airports across India (two visits per quarter)
- Get a bonus of 30,000 points for spending ₹8 lakh in a year
- Earn an additional 10,000 points for spending ₹4 lakh in a year
- Save on ticket bookings through IRCTC
HDFC Bharat Cashback Credit Card
- Enjoy 5% cashback on all bill payments and grocery purchases
- Get 5% cashback on EasyEMI and SmartBuy transactions
- Receive 5% cashback on ticket bookings made through IRCTC
- Benefit from ₹50 lakh accidental death insurance
TATA Star Titanium Credit Card
- Earn three points for every ₹100 spent on groceries and online shopping
- Enjoy 5% cash back on purchases made at TATA outlets
IndianOil Citi Credit Card
- Earn 4 turbo points for every ₹150 spent
- No cap on the reward points you can earn on fuel purchases
- Enjoy unlimited surcharge waivers
- Get 2 turbo points for every ₹150 spent at grocery stores and supermarkets
- Accumulate 1 turbo point for each ₹150 spent on other purchases
How to Apply for a Fuel Credit Card
You can apply for a fuel credit card both online and offline. Here’s how each process works:
1. Online Process
For the online process, you should visit the financial institution’s official website. Once there, you can browse for a fuel credit card that meets your requirements. After selecting the appropriate card, complete the registration process, pay any applicable fees, and submit your application.
2. Offline Process
For those who prefer the offline route, apply by visiting a bank branch in person. It’s essential to bring along all necessary documents for the application process. A representative from the financial institution will be available to assist you throughout the entire application, ensuring you have the support needed to complete it successfully.
Documents Required for a Fuel Credit Card
- Nationality proof
- Income proof
- Age proof
Who is Eligible to Apply for a Fuel Credit Card?
- You should be over 18 years of age to apply
- You must be a resident of India
- A regular income is required through salary or self-employment
- Income criteria set by banks must be met
- A high credit score is necessary, preferably above 750
What are the Benefits of Fuel Credit Cards?
Different banks and financial institutions provide various benefits with their fuel credit cards. While these cards help reduce fuel expenses, they also offer several other perks:
- Earn reward points
- Redeem accumulated points
- Avail cashback offers
- Surcharge waiver on fuel transactions
- Special dining discounts
- Exclusive BookMyShow deals
- Earn turbo points
- Annual fee waiver
- Pay utility bills
- Telecom benefits
- Concierge service
How to Choose the Best Fuel Credit Card
Choosing the best fuel credit card comes with tons of research and weighing the pros and cons of every best fuel credit card in India. Let’s have a look at the factors that you should consider when choosing a fuel credit card that works best for you:
Credit Card Payment Patterns
When selecting the ideal fuel credit card, it’s crucial to understand your spending habits. Look for a card that not only provides fuel rewards but also offers competitive interest rates.
Fuel Usage
You need to analyse your fuel usage every month to get the best fuel credit card for your needs. Decide on a monthly budget you want to dedicate to your fuel spending pattern, and then choose a card that suits your goals and needs.
Charges
Make sure you take a clear look at all the additional charges and fees you will be signing up for to get a credit card to complete your fuel needs. If you don’t research, you may get too overwhelmed by the financial burden to enjoy the benefits and rewards of the fuel cards.
Redemption Process
It’s wise to review the redemption process of a fuel credit card. Opt for cards that allow for instant point redemption.
Savings
When considering a fuel card, you should have a rough idea of your monthly saving goal on fuel transactions to have a rough draft of how much you are saving with a fuel card. This is the best way to know which fuel card is the best.
Oil Companies
One crucial factor to consider when selecting a fuel credit card is the scope of its benefits. Determine if the perks are limited to specific petrol stations affiliated with a certain oil company or if they are available at all petrol stations nationwide.
Surcharge Waiver
Another factor to consider when selecting the best fuel card for you is to see which credit card offers a surcharge waiver that suits your financial goals and needs.
Annual Fees
Look into the annual fee for the credit card you’re considering. Many cards waive the annual fee if you reach a specific spending threshold within the year.
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FAQs:
Yes, in fact, fuel cards are meant to offer you a fuel surcharge waiver along with other rewards, redeemable points, and cashback offers against a fuel purchase.
Credit card issuers charge a fuel surcharge fee, typically about 2.5% of your fuel purchase or a set amount, to cover the processing costs for fuel transactions at the pump.
Yes, taxes such as GST are applied to the fuel surcharge in India.
A fuel card is a specific kind of credit card that provides exclusive discounts and rewards for fuel purchases at designated gas stations. These cards are created to help you reduce your spending on petrol or diesel.
Yes, with a fuel credit card, you can earn multiple rewards and cashback that can save you money in the long run. Further, these cards even offer a surcharge waiver and reward points that can be exchanged for fuel purchases and rewards.
Yes, you can use your credit card to pay for your fuel, like the debit card.
If you’re looking for ways to cut down on fuel expenses, a Fuel Credit Card could be a simple and effective option. These cards not only help you save on fuel purchases but also offer various perks that can improve your overall travel experience.
