Even though the crude oil price has dropped by a significant amount on a year to date basis and is trading close to $67 per barrel, there is no stopping fuel price rise in the domestic market which has touched to new record levels. In a matter of few days, the increase is of the order of Rs. 3 per litre which has not been viewed in the past.
So, while the government is still working out measures to curb the price rise in fuel prices and is yet to come up with concrete solutions, you can take a shelter in some of these credit cards and save on some good chunk while making purchase for your fuel requirements.
Here are suggested some good fuel-saving credit card options for you:
1. SBI's Simply SAVE Advantage card: On this card by SBI, you are relaxed from paying 1% surcharge at any of the fuel station. However, the offer is available when you make fuel purchase for any amount between Rs. 500 and Rs. 3000.
For every Rs. 100 spent on fuel purchase, 1 reward point is earned
2. HDFC Bank Bharat Cashback Card: In case of minimum transaction of Rs. 400 at fuel pumps, 1% fuel surcharge payment is waived.
5% of the transaction amount is paid as cashback upto a maximum of Rs. 150. Cash back rewarded as points
And the 50-days interest free period is provided on the card
3. Axis Bank Privilege Credit Card: For transactions between Rs. 400 - Rs. 4000, maximum benefit the card holder is entitled to is Rs. 400 per month. Plus for big ticket purchases valuing over Rs. 2,500, there is a facility to make the payments as EMI.
4. Indian Oil CITI Platinum Credit Card: It is a Indian Oil-Citi exclusive offering under which benefits are available only on card swipes made on Citibank EDCs. For every fuel purchase trasaction, the card holder earns 4 turbo points or 2.67%. There is provided full waiver on fuel surcharge of 1% on fuel purchase. 1 turbo point equates to Rs. 1 worth of fuel.
5. Kotak Royale Signature Credit Card: Using this credit card you will be able to save on fuel surcharge to a maximum of Rs. 3500 in a year. Also for every Rs. 150 spends across categories, the card holder is entitled to earn up to 4 times the reward points.