3 Best Fuel Credit Cards in India in 2023: Which One Gives You More Savings on Fuel?

If you are someone who spends a lot on fuel every month, you might be wondering how to save some money on your fuel expenses. One of the best ways to do that is to use a fuel credit card.

A fuel credit card is a type of credit card that offers you benefits such as cashback, reward points, surcharge waiver, discounts, etc. on your fuel transactions. T

hese benefits can help you reduce your fuel bills and also earn some rewards that you can redeem for other purchases.

But with so many fuel credit cards available in the market, how do you choose the best one for your needs and preferences? That’s what this article is all about.

In this article, I will compare three of the best fuel credit cards in India in 2023: IndianOil Axis Bank Credit Card, Axis Bank Aura Credit Card, and ICICI Bank HPCL Coral Credit Card. I will also tell you which one gives you more savings on fuel and which one suits your lifestyle better.

Comparison of the Three Credit Cards

The three credit cards that I will compare in this article are:

  • IndianOil Axis Bank Credit Card: A co-branded fuel credit card that offers 4% value back on fuel transactions at IOCL outlets, 1% value back on online shopping, fuel surcharge waiver, instant discount on BookMyShow, and annual fee waiver on spending more than Rs. 50,000 in a year
  • Axis Bank Aura Credit Card: A health and wellness credit card that offers 4 complimentary lounge access per year, 8 complimentary doctor consultations per year, 4 free health check-ups per year, up to 20% off at partner hospitals, pharmacies and diagnostic centers, and reward points on all spends .
  • ICICI Bank HPCL Coral Credit Card: A co-branded fuel credit card that offers 2.5% cashback and 1% fuel surcharge waiver on fuel transactions at HPCL pumps, PAYBACK points on all other spends, Rs. 100 off on up to 2 movie tickets per month at BookMyShow, and annual fee waiver on spending more than Rs. 50,000 in a year 

IndianOil Axis Bank Credit Card

The first credit card on our list is the IndianOil Axis Bank Credit Card. This is a co-branded fuel credit card that is issued by Axis Bank in collaboration with IOCL (Indian Oil Corporation Limited). The card is designed to benefit you on every fuel transaction at IOCL outlets.

Best Fuel Credit Cards

Pros and Cons of IndianOil Axis Bank Credit Card

Here are some of the advantages and disadvantages of using the IndianOil Axis Bank Credit Card for fuel and other purposes:

  • Pros:
    • You can earn 4% value back on fuel transactions at IOCL outlets by earning 20 reward points per Rs. 100 spent.
    • You can also earn 1% value back on online shopping by earning 5 reward points per Rs. 100 spent.
    • You can get a fuel surcharge waiver of 1% on fuel transactions between Rs. 200 and Rs. 5000 at any fuel outlet in India.
    • You can get an instant discount of up to 10% on your movie tickets booked via BookMyShow website or app.
    • You can get an annual fee waiver if you spend more than Rs. 50,000 in a year on your card.
  • Cons:
    • The card has a nominal annual fee of Rs. 500 that is applicable from the second year onwards.
    • The card does not offer any benefits on other categories of spending, such as dining, travel, or entertainment.
    • The card has a high interest rate of 49.36% per annum that is applicable if you do not pay your bill in full every month.

How to Apply for IndianOil Axis Bank Credit Card

To apply for the IndianOil Axis Bank Credit Card, you need to meet the following eligibility criteria and documentation requirements:

  • Eligibility Criteria:
    • You should be an Indian citizen and at least 18 years old.
    • You should have a regular source of income and a good credit score.
  • Documentation Requirements:
    • You need to submit your identity proof, address proof, income proof, and PAN card along with your application form.
    • You can apply online By Clicking Here or by visiting Axis Bank website

Axis Bank Aura Credit Card

The second credit card on our list is the Axis Bank Aura Credit Card. This is a health and wellness credit card that offers you benefits on your health-related expenses and other categories of spending.

Best Fuel Credit Cards

Pros and Cons of Axis Bank Aura Credit Card

Here are some of the advantages and disadvantages of using the Axis Bank Aura Credit Card for fuel and other purposes:

  • Pros:
    • You can get 4 complimentary lounge access per year at select domestic airports in India.
    • You can get 8 complimentary doctor consultations per year through MFine app or website.
    • You can get 4 free health check-ups per year through Thyrocare app or website.
    • You can get up to 20% off at partner hospitals, pharmacies, and diagnostic centers across India.
    • You can earn reward points on all your spends that can be redeemed for various products and services.
  • Cons:
    • The card has a high annual fee of Rs.750 that is applicable from the first year onwards.
    • The card does not offer any direct benefits on fuel transactions, such as cashback or surcharge waiver.
    • The card has a high interest rate of 49.36% per annum that is applicable if you do not pay your bill in full every month.

How to Apply for Axis Bank Aura Credit Card

To apply for the Axis Bank Aura Credit Card, you need to meet the following eligibility criteria and documentation requirements:

  • Eligibility Criteria:
    • You should be an Indian citizen and at least 18 years old.
    • You should have a regular source of income and a good credit score.
  • Documentation Requirements:
    • You need to submit your identity proof, address proof, income proof, and PAN card along with your application form.
    • You can apply online By Clicking Here or by visiting Axis Bank website
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ICICI Bank HPCL Coral Credit Card

The third credit card on our list is the ICICI Bank HPCL Coral Credit Card. This is a co-branded fuel credit card that is issued by ICICI Bank in collaboration with HPCL (Hindustan Petroleum Corporation Limited).

The card is designed to offer you cashback and reward points on your fuel transactions at HPCL pumps.

Best Fuel Credit Cards

Pros and Cons of ICICI Bank HPCL Coral Credit Card

Here are some of the advantages and disadvantages of using the ICICI Bank HPCL Coral Credit Card for fuel and other purposes:

  • Pros:
    • You can earn 2.5% cashback on fuel transactions at HPCL pumps by paying through ICICI Bank SMS Pay facility.
    • You can also earn PAYBACK points on all your other spends that can be redeemed for various products and services.
    • You can get a fuel surcharge waiver of 1% on fuel transactions between Rs.500 and Rs.4000 at HPCL pumps across India.
    • You can get Rs.100 off on up to two movie tickets per month at BookMyShow website or app.
  • Cons:
    • The card has a nominal annual fee of Rs.199 that is applicable from the second year onwards.
    • The card does not offer any benefits on online shopping or other categories of spending.
    • The card has a high interest rate of up to 42% per annum that is applicable if you do not pay your bill in full every month.

How to Apply for ICICI Bank HPCL Coral Credit Card

To apply for the ICICI Bank HPCL Coral Credit Card, you need to meet the following eligibility criteria and documentation requirements:

  • Eligibility Criteria:
    • You should be an Indian citizen and at least 23 years old.
    • You should have a regular source of income and a good credit score.
  • Documentation Requirements:

Conclusion

We have seen the features and benefits of the three best fuel credit cards in India in 2023: IndianOil Axis Bank Credit Card, Axis Bank Aura Credit Card, and ICICI Bank HPCL Coral Credit Card.

But which one is the best for you? Well, that depends on your preferences and spending habits. If you want to save more money on fuel transactions at IOCL outlets and online shopping, then the IndianOil Axis Bank Credit Card is the best option for you.

If you want to enjoy health and wellness benefits along with reward points on all spends, then the Axis Bank Aura Credit Card is the best option for you.

If you want to get cashback and reward points on fuel transactions at HPCL pumps along with movie discounts, then the ICICI Bank HPCL Coral Credit Card is the best option for you.

So what are you waiting for? Apply for the best fuel credit card of your choice today and start saving more money on fuel. Just Click Here to apply online.

FAQs

What are fuel credit cards?

Fuel credit cards are credit cards that offer you benefits on your fuel transactions, such as cashback, reward points, surcharge waiver, and discounts. They help you save money on your fuel expenses and enjoy other perks.

How do fuel credit cards work?

Fuel credit cards work like any other credit cards. You can use them to pay for your fuel purchases at the pump and get the benefits offered by the card. You can also use them for other transactions and earn reward points or cashback. You have to pay your bill every month and avoid paying interest or late fees.

What are the benefits of fuel credit cards?

Fuel credit cards offer you various benefits on your fuel transactions, such as:
Cashback: You can get a percentage of your fuel spend back as cash in your account or as a statement credit.
Reward Points: You can earn reward points on your fuel spend that can be redeemed for various products and services.
Surcharge Waiver: You can get a waiver of the extra charge that is levied on your fuel transactions by the bank or the pump.
Discounts: You can get discounts on your fuel purchases or on other categories of spending, such as movies, dining, travel, etc.

What are the best fuel credit cards in India in 2023?

The best fuel credit cards in India in 2023 are:
IndianOil Axis Bank Credit Card: This card offers you 4% value back on fuel transactions at IOCL outlets, 1% value back on online shopping, fuel surcharge waiver, instant discount on BookMyShow, and annual fee waiver on spending more than Rs. 50,000 in a year.
Axis Bank Aura Credit Card: This card offers you 4 complimentary lounge access per year, 8 complimentary doctor consultations per year, 4 free health check-ups per year, up to 20% off at partner hospitals, pharmacies and diagnostic centers, and reward points on all spends.
ICICI Bank HPCL Coral Credit Card: This card offers you 2.5% cashback and 1% fuel surcharge waiver on fuel transactions at HPCL pumps, PAYBACK points on all other spends, Rs. 100 off on up to 2 movie tickets per month at BookMyShow, and annual fee waiver on spending more than Rs. 50,000 in a year.

How to save more money on fuel with the best fuel credit cards in India in 2023?

To save more money on fuel with the best fuel credit cards in India in 2023, you need to follow some tips such as:
Use the right card for the right pump: You need to use the card that offers you the most benefits at the pump where you buy your fuel. For example, use the IndianOil Axis Bank Credit Card at IOCL outlets and the ICICI Bank HPCL Coral Credit Card at HPCL pumps.
Pay through SMS Pay facility: You need to pay for your fuel transactions through ICICI Bank SMS Pay facility if you have the ICICI Bank HPCL Coral Credit Card. This way, you can get an extra cashback of 0.5% on your transactions.
Spend more than Rs.50,000 in a year: You need to spend more than Rs.50,000 in a year on your card if you have the IndianOil Axis Bank Credit Card or the ICICI Bank HPCL Coral Credit Card. This way, you can get an annual fee waiver and save more money.

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