3 Best Credit Card For Fuel In India – Are Fuel Credit Cards Worth It ?

Did you know that the average Indian spends about Rs. 2,000 per month on fuel? That’s a lot of money, especially when you consider the rising fuel prices.

But what if you could save some money and get some rewards every time you fill up your tank? That’s where fuel credit cards come in handy.

Fuel credit cards are special types of credit cards that offer you cashback, reward points, discounts, surcharge waivers, and other benefits when you use them for fuel purchases.

They can help you reduce your fuel expenses and earn some rewards that you can redeem for other products and services.

In this article, we will compare and contrast the 3 best credit card for fuel in India and help you decide which one is best for you. We will look at the features, benefits, fees, charges, pros, and cons of each credit card and give you our honest opinion.

Indian Oil Kotak Credit Card

Best Credit Card For Fuel

The first credit card we will review is the Indian Oil Kotak Credit Card. This is one of the best credit card for fuel in India, especially if you are a loyal customer of Indian Oil.

Features And Benefits Of Indian Oil Kotak Credit Card :

  • You can earn up to 25% cashback on fuel purchases at Indian Oil outlets across India. You can get Rs. 1 as cashback for every Rs. 150 spent on fuel. The maximum cashback you can earn per month is Rs. 300.
  • You can also earn 4X reward points on all other purchases, such as groceries, dining, shopping, travel, etc. You can get 4 reward points for every Rs. 150 spent. You can redeem your reward points for fuel vouchers, movie tickets, air miles, merchandise, etc.
  • You can enjoy a 1% fuel surcharge waiver on fuel transactions of up to Rs. 4,000 at Indian Oil outlets. The maximum surcharge waiver you can get per month is Rs. 450.
  • You can also avail of other benefits, such as free PVR movie ticketsannual fee waiverzero liability coveradd-on cards, etc.

Eligibility Criteria, Fees, and Charges of Indian Oil Kotak Credit Card

  • You need to be at least 21 years old and have a minimum monthly income of Rs. 20,000 to apply for this credit card.
  • The annual fee for this credit card is Rs. 499, which can be waived off if you spend Rs. 1,25,000 or more in a year.
  • The interest rate for this credit card is 3.4% per month, which is 40.8% per annum.
  • The late payment fee for this credit card ranges from Rs. 100 to Rs. 700, depending on the outstanding balance.

Pros And Cons Of Indian Oil Kotak Credit Card

Pros

  • It offers a high cashback rate on fuel purchases at Indian Oil outlets
  • It offers a generous reward points program on all other purchases
  • It offers a fuel surcharge waiver and other benefits

Cons

  • It has an annual fee, which can be waived only if you spend a lot in a year.
  • It has a high interest rate, which can increase your debt burden if you don’t pay your bills on time
  • It offers cashback and surcharge waiver only at Indian Oil outlets, which may not be convenient for everyone

To summarize, the Indian Oil Kotak Credit Card is a good option for you if you are looking for a credit card that offers a high cashback rate on fuel purchases at Indian Oil outlets.

It also offers a good reward points program and other benefits.

BPCL SBI Credit Card

Best Credit Card For Fuel

The second credit card we will review is the BPCL SBI Credit Card. This is another best credit card for fuel in India, especially if you are a frequent user of Bharat Petroleum outlets.

Features And Benefits Of BPCL SBI Credit Card

  • You can earn up to 13X reward points on fuel purchases at BPCL outlets across India. You can get 13 reward points for every Rs. 100 spent on fuel. The maximum reward points you can earn per month is 1,300.
  • You can also earn 5X reward points on all other purchases, such as groceries, dining, shopping, travel, etc. You can get 5 reward points for every Rs. 100 spent. You can redeem your reward points for fuel vouchers, gift cards, air miles, merchandise, etc.
  • You can enjoy a 4.25% value back on fuel purchases at BPCL outlets. You can get Rs. 4.25 as value back for every Rs. 100 spent on fuel. The maximum value back you can get per month is Rs. 425.
  • You can also avail of other benefits, such as 1% fuel surcharge waiverwelcome gift voucherannual fee reversalfraud liability coveradd-on cards, etc.

Eligibility Criteria, Fees, And Charges Of BPCL SBI Credit Card

  • You need to be at least 21 years old and have a minimum monthly income of Rs. 15,000 to apply for this credit card.
  • The annual fee for this credit card is Rs. 499, which can be reversed if you spend Rs. 50,000 or more in a year.
  • The interest rate for this credit card is 3.35% per month, which is 40.2% per annum.
  • The late payment fee for this credit card ranges from Rs. 100 to Rs. 950, depending on the outstanding balance.

Pros And Cons Of BPCL SBI Credit Card

Pros

  • It offers a high reward points rate on fuel purchases at BPCL outlets.
  • It offers a good value back on fuel purchases at BPCL outlets.
  • It offers a fuel surcharge waiver and other benefits.

Cons

  • It has an annual fee, which can be reversed only if you spend a lot in a year.
  • It has a high interest rate, which can increase your debt burden if you don’t pay your bills on time.
  • It offers reward points and value back only at BPCL outlets, which may not be convenient for everyone.

To summarize, the BPCL SBI Credit Card is a good option for you if you are looking for a credit card that offers a high reward points rate and a good value back on fuel purchases at BPCL outlets. It also offers a fuel surcharge waiver and other benefits.

IDFC Power Credit Card

The third and final credit card we will review is the IDFC Power Credit Card. This is a new and innovative credit card that offers a flat cashback rate on all purchases, including fuel.

Features And Benefits Of IDFC Power Credit Card

  • You can earn a flat 1.5% cashback on all purchases, including fuel, without any limits or restrictions. You can get Rs. 1.5 as cashback for every Rs. 100 spent on any category. The cashback will be credited to your account every month automatically.
  • You can also enjoy a 100% fuel surcharge waiver on fuel transactions of any amount at any fuel outlet in India. You can save up to Rs. 500 per month on fuel surcharge.
  • You can also avail of other benefits, such as free airport lounge accessfree movie ticketsfree golf lessonszero forex markupzero annual feezero interest on EMIzero late payment fee, etc.
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Eligibility Criteria, Fees, And Charges of IDFC Power Credit Card

  • You need to be at least 21 years old and have a minimum monthly income of Rs. 25,000 to apply for this credit card.
  • The annual fee for this credit card is Rs. 0, which means you don’t have to pay anything to use this credit card.
  • The interest rate for this credit card is 0% on EMI transactions, which means you don’t have to pay any interest if you convert your purchases into EMIs.
  • The late payment fee for this credit card is Rs. 0, which means you don’t have to pay any penalty if you miss your payment deadline.

Pros And Cons Of IDFC Power Credit Card

Pros

  • It offers a flat cashback rate on all purchases, including fuel, without any limits or restrictions.
  • It offers a 100% fuel surcharge waiver on all fuel transactions at any fuel outlet in India.
  • It offers a lot of other benefits, such as free airport lounge access, free movie tickets, free golf lessons, zero forex markup, zero annual fee, zero interest on EMI, zero late payment fee, etc

Cons

  • It has a high income requirement, which may not be feasible for everyone.
  • It does not offer any reward points or discounts on fuel or other purchases, which may be preferred by some people.
  • It is a new credit card, which may not have a lot of reviews or feedback from the customers

To summarize, the IDFC Power Credit Card is a great option for you if you are looking for a credit card that offers a flat cashback rate on all purchases, including fuel, without any limits or restrictions. It also offers a 100% fuel surcharge waiver and a lot of other benefits.

Are Fuel Credit Cards Worth It?

This is a common question that many people ask when they are looking for a credit card that can help them save money and get rewards on their fuel expenses.

Fuel credit cards are special types of credit cards that offer you cashback, reward points, discounts, surcharge waivers, and other benefits when you use them for fuel purchases.

They can help you reduce your fuel expenses and earn some benefits that you can redeem for other products and services.

However, not all fuel credit cards are worth it. Some fuel credit cards may have high fees, high interest rates, low rewards, or limited benefits.

Some fuel credit cards may also require you to use them at specific fuel outlets, which may not be convenient for everyone. Therefore, you need to compare and contrast the different fuel credit cards and choose the one that suits your needs and preferences.

According to some experts, fuel credit cards are worth it if you drive a lot or commute to work regularly, especially if you always get fuel from the same fuel company chain. 

In that case, using a fuel credit card can help you save money via rewards or discounts on fuel purchases and usually have $0 fees.

However, if you don’t drive a lot or use different fuel stations, then using a fuel credit card may not be worth it. In that case, you may be better off using a general cashback or rewards credit card that offers you more flexibility and value on your purchases.

To decide whether a fuel credit card is worth it for you, you need to consider the following factors:

  • How much do you spend on fuel every month?
  • How often do you use your credit card for fuel purchases?
  • Which fuel outlets do you prefer or use regularly?
  • What are the features, benefits, fees, and charges of the fuel credit card you are considering?
  • How do the fuel credit card benefits compare to other credit cards you have or want?

By answering these questions, you can evaluate the pros and cons of the fuel credit card you are considering and see if it matches your fuel consumption and spending habits.

Conclusion

We have reviewed the 3 best credit card for fuel in India and compared their features, benefits, fees, charges, pros, and cons.

Based on our comparison, we recommend the IDFC Power Credit Card as the best credit card for fuel in India. This credit card offers a flat 1.5% cashback on all purchases, including fuel, without any limits or restrictions.

It also offers a 100% fuel surcharge waiver and a lot of other benefits. It has zero annual fee, zero interest on EMI, and zero late payment fee. It has a high income requirement, but it does not have any reward points or discounts.

If you are looking for a credit card that offers a high cashback rate on all purchases, including fuel, without any limits or restrictions, then the IDFC Power Credit Card is the best credit card for you.

You can apply for this credit card online and get instant approval. You can also visit the IDFC website for more information.

We hope this article has helped you find the best credit card for fuel in India. If you have any questions or feedback, please leave a comment below.

FAQs

What is a fuel credit card?

A fuel credit card is a type of credit card that offers you cashback, reward points, discounts, surcharge waivers, and other benefits when you use it for fuel purchases. It can help you save money and get rewards on your fuel expenses.

How to choose the best credit card for fuel?

To choose the best credit card for fuel, you need to consider the following factors: the cashback rate, the reward points rate, the value back, and the surcharge waiver offered by the credit card on fuel purchases; the eligibility criteria, fees, and charges of the credit card, such as the minimum income, the annual fee, the interest rate, the late payment fee, etc.; the scope and availability of the credit card benefits, such as the outlets, the categories, the partners, etc.; and your personal needs and preferences, such as your fuel consumption, your spending habits, your credit score, etc.

Which is the best credit card for fuel in India?

Based on our comparison, we recommend the IDFC Power Credit Card as the best credit card for fuel in India. This credit card offers a flat 1.5% cashback on all purchases, including fuel, without any limits or restrictions.

How to apply for the best credit card for fuel in India?

To apply for the best credit card for fuel in India, you can apply online. you can visit the official website of the credit card issuer, such as SBI, and fill out the online application form with your personal and professional details. You will also need to upload some documents, such as your identity proof, address proof, income proof, etc. You will then get an instant approval or rejection based on your eligibility.

What are the benefits of using the best credit card for fuel in India?

The benefits of using the best credit card for fuel in India are: you can save money and get rewards on your fuel purchases; you can enjoy a fuel surcharge waiver and avoid paying extra charges on your fuel transactions; you can redeem your reward points and value back for fuel vouchers, gift cards, air miles, merchandise, etc.; you can also use your credit card for other purchases, such as groceries, dining, shopping, travel, etc. and get additional benefits, such as discounts, cashback, etc.; you can also build your credit score and enjoy other perks of being a credit card holder, such as free airport lounge access, free movie tickets, free golf lessons, zero forex markup, etc.

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