To help consumers save on fuel bills, fuel credit cards can be a good deal, provided you choose the right one. These credit cards best meet the needs of people who travel long-distance on a daily basis, travel-enthusiast, and people engaged in providing transport services to others.
To gain maximum benefit from the best fuel credit cards you should consider following attributes
1. Annual fees: Such credit cards targeting a particular purpose feature high annual fees. However, in case some minimum amount is spend on the card annually, the associated high fees is waived off. So, before zeroing in on the fuel credit card ensure that the minimum spend on the card is not very high.
Likewise also ensure that in order to avail the available benefits, total amount required to be spent using the card is not very high.
2. Fuel surcharge: Also, ensure that the credit card you choose offers complete waiver on fuel surcharge.
3. Usabilty at all fuel stations: One has to ensure that the card covers all the fuel station such that all benefits can be availed irrespective of the oil station.
4. Redemption of rewards and points: Easy and hassle-free redemption on card should be available.
Some of the best fuel cards that consumers can choose from are listed here, with different features and benefits:
HDFC Bharat Cash Back credit card:
The new fuel credit card by HDFC is for consumers who spend comparably less on fuel i.e. a minimum of Rs. 3000/month. It offers the highest cashback of 5% on fuel spends i.e. a maximum of Rs. 150 in a statement cycle. Cash back is obtained as points. Fuel surcharge waiver of a maximum amount of Rs. 250 for each billing cycle (Service Tax applicable).
Induslnd Iconia Credit Card:
While Indusind Iconia is not a Fuel Credit card, but this is one of the rare cards that gives you reward points even on Fuel spend. The reward rate of the card remains same for the Fuel as well. A good thing about the reward points with this card is that customer can redeem them for Cash credit on the statement which is as good as cashback concept.
Another feature is that 2 percent on the weekend spends, and 1.5 percent on weekdays additional points. This Credit card also gives reward points on fuel spends at any company petrol pump. Every high-value transaction is immediately detected and verified by the customer.
Indian Oil Citi Platinum Card:
With instant redemption at Indian Oil stations, this fuel card by Citi Bank offers more than 5% savings on fuel bills. The card features 4 turbo points for every Rs. 150 spent on fuel at IOC station. 1 turbo point equals to 1 Rs. Free fuel. Also, the card offers a complete waiver of 2.5% fuel surcharge.
An annual fee of Rs. 1000 is charged, however if the total spending on the card in a membership year is Rs. 30000 or more it is waived off. Upon joining 250 bonus points shall be added on the card.
RBL Titanium Delight credit card:
For every fuel transaction of Rs. 500 to Rs. 4000 done using the card, the cardholder gets complete fuel surcharge waiver. This means a maximum surcharge of Rs. 100 is waived off in every billing cycle.
With fuel surcharge waiver there are few other benefits which you can get if you are going for the RBL Titanium Delight credit card such as Fee waived if you are spending more than a one Lakh annually. You will be getting gift vouchers of Rs 1000, and you will be getting 1000 reward points for every ten thousand you spend and much more.
SBI Simply Save
The fuel purchase using this card by SBI offers a complete 2.5% surcharge waiver on transaction worth Rs. 500- Rs. 3000. For every spent of Rs. 100, the cardholder is entitled for 1 reward point. With the earned points customers can pay off the credit bills.
With the fuel surcharge waiver, there are few additional offers which come with SBI Simply save such as lower interest rates, Balance transfer, etc. You can apply for an add on card as well for the SBI Simply save. There is option where you can upgrade your card for better privileges. For SBI cards you pay credit card bill using NEFT as well.
Standard Chartered Super value Titanium Credit card:
For people who spend comparably more amount on fuel, the card features a maximum cashback of Rs. 200 in every billing cycle at the rate of 2.5%. To avail this minimum of Rs. 750 needs to be spent on fuel. Also, surcharge reversal of 2.5% on the transaction amount is offered. On other spends, for every Rs. 100 spent, cardholders' get 1 reward point.