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If there’s something that has increased every year, it is fuel prices in India. We can’t deny that automobiles are an integral fragment of modern day-to-day life, making fuel expenses inevitable. While using credit cards for fuel transactions may offer you a few rewards, they attract taxes too. But fuel credit cards, on the other hand, not only offer cashback schemes but also provide a waiver in the fuel surcharge by reducing your expenses to as much as 5%.
We have compiled a list of India’s ten best fuel credit cards based on their uses and customer ratings.
|Credit Card||Joining Fee||Fuel Benefit|
|IndianOil Citibank® Platinum Credit Card||₹1,000||Up to 71 liters of free fuel every year|
|IndianOil HDFC Credit Card||₹500||5% of fuel spends as fuel points|
|ICICI Bank HPCL Coral Credit Card||₹199||2.5% cash back at HPCL fuel stations|
|BPCL SBI Card Octane||₹1,499||25X reward points on fuel purchases at BPCL petrol pumps|
|Standard Chartered Super Value Titanium Credit Card||₹750||5% cashback on fuel purchases from any petrol pump on all transactions below INR 2,000|
|IndianOil Axis Bank Credit Card||₹500||4% value back on fuel purchase at IOCL outlets|
|HDFC Bharat Cashback Credit Card||₹500||5% cashback on fuel spends|
|Kotak Royale Signature Credit Card||₹999||4X points on every ₹150 spent on purchases|
|YES First Preferred Credit Card||₹2500||1% fuel surcharge waiver on a minimum transaction of ₹500|
|TATA Star Titanium Credit Card||₹499||Up to 4.25% value back on fuel expenses|
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To know which fuel credit card will prove to be a lucrative option for you, it’s important to be aware of its features and benefits. Below we have mentioned the attributes of each above-mentioned fuel card:
It is rated one of the best fuel credit cards in India provided by Citibank. The IndianOil Citi Credit Card users receive Turbo Points as rewards that never expire. As a user, you can redeem these points at authorised IndianOil fuel stations to avail free fuel. Besides, the Citi fuel credit card offers the following benefits to its users:
Joining Fee: ₹1000
The following are the benefits and features of the IndianOil HDFC Credit Card:
Joining Fee: ₹500
ICICI Bank offers this card in association with the HP fuel stations. With ICICI Bank HPCL Coral Credit Card, you can earn Payback points and cashback on multiple spendings.
The following are the benefits and features of the ICICI Bank HPCL Coral Credit Card:
Joining Fee: ₹199
It’s the premium version of the BPCL SBI Card and has some added advantages. You get a welcome bonus of 6,000 reward points with this card.
Moreover, when you pay through the mobile app and website, you can receive 7.25% value back on Bharatgas online payments.
The following are the key attributes of BPCL SBI Card Octane:
Joining Fee: ₹1499
Following are the main attributes of this fuel credit card:
Joining Fee: ₹750
With a minimum joining fee of ₹500, individuals seeking to avail of benefits on fuel transactions can purchase IndianOil Axis Bank Credit Card. The card offers welcome benefits, a fuel surcharge waiver, accelerated rewards, and discounts on movie tickets and online shopping. Since Axis Bank provides this card in collaboration with Indian Oil, you can get maximum benefits only when transacting at Indian Oil outlets.
Following are the key benefits of the IndiaOil Axis Bank Credit Card:
Joining Fee: ₹500
As the name suggests, HDFC Bharat Cashback Credit Card rewards its users with cashback for every transaction. The eligibility criteria for obtaining this credit card is quite simple; hence, it is well-suited for first-time users. You can earn various cashback on your everyday spending using this credit card.
Following are the additional benefits of using the HDFC Bharat Cashback Credit Card:
Joining Fee: ₹500
One of the best aspects of using this card is that you can use it at any fuel outlet to avail of benefits. The card helps you make the most of your shopping and travel expenses by rewarding you for the transaction done. You can use the accumulated reward points later by redeeming them against merchandise, mobile recharge, air ticket, and more.
Below are the additional benefits and features of the Kotak Royale Signature Credit Card:
Joining Fee: ₹999
Offered by YES Bank, the card lets you earn four points for every 100 spent on fuel purchases at any petrol outlet. You can redeem these points for privileges, special gifts, and discounts. Moreover, if you spend a minimum of ₹500, you get a 1% fuel surcharge waiver. In short, it could be the best credit card for fuel purchases.
Below are some benefits YES First Preferred credit card offers:
Joining Fee: ₹2500
Last but not least, the TATA Group has also issued fuel credit cards for customers in India. TATA Star Titanium credit card earns one point per ₹100 you spend on purchases. Furthermore, on a minimum transaction of ₹500, you will get a surcharge waiver of 1%.
One point earned on the card is equal to ₹1 TATA voucher. You can redeem these vouchers for discounts and offers from TATA partners.
Below are some additional benefits of the TATA Titanium Credit Card:
Joining Fee: ₹500
Choose the best fuel credit card from the above-mentioned or others based on your requirements and use. Then, visit the nearest bank branch from which you want to avail of the credit card. You can also choose an online mode to apply for a credit card.
If you are applying online, download the fuel credit card application from the website. Else, the bank will provide you with the application form. Fill it out and submit it along with the documents required and save a huge amount of money on fuel expenses.
Applicants must meet the following criteria to obtain a fuel credit card in India:
It would help if you mulled over certain factors before getting a credit card. They are as follows:
Fees and Charges: As you might have noticed, the fees and charges for all credit cards differ. While choosing one, you must evaluate the charges and fees applicable. You must assess it well, keeping the benefits and discounts that come with the card. Sometimes, people take cards with lower joining fees and miss out on various benefits. Whatever you choose, ensure it serves your purpose well.
Fuel Spending Pattern: Getting a fuel credit card will only help when you plan your monthly budget. You must analyse your spending and decide how much you should spend on fuel. It is crucial to decide on the same, or the card will not serve the purpose.
Check the Redemption Process of the Card: Before you finalise a fuel credit card, you must check its redemption process, meaning you must know how and where you can redeem the reward points and cashback. Is the process feasible for you? It would help if you opted for cards offering instant redemption of points.
Credit Card Payment Pattern: The most crucial factor to consider while selecting the best petrol credit card is determining the payment pattern. You must seek a card that renders fuel benefits and the best interest rates.
Various banks and financial institutions provide credit cards, but each offers different benefits. Besides reducing fuel purchasing expenses, other benefits of using a fuel credit card are as follows:
A fuel credit card could be highly beneficial if you drive a car or a bike. As mentioned above, fuel credit cards help you save money while paying at the petrol pump and offer various rewards and points that can be utilised for booking movie tickets, utility bill payments, and more. In a nutshell, a fuel credit card may help you make a corpus by letting you save money on fuel and through various cashback.
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Both fuel and credit cards have different purposes. While credit cards let you shop and buy anything, you can use fuel cards only for purchasing fuel, lubricants, oil, car washes, and other vehicle-related shopping. Plus, fuel cards may waive up to 5% of the fuel cost and offer various cashback.
Yes, a fuel credit card is comparatively cheaper to buy fuel than a credit card.
Yes, you have to pay a 1% fuel surcharge waiver and service tax on every transaction done through the credit card on petrol pumps.
No, you won’t be taxed on a fuel credit card.
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