If you own a car, bike or any other vehicle, saving on fuel becomes very essential. By using fuel credit cards, you can get waivers on surcharge, petrol vouchers and more. The best thing is that you also get all the other benefits of credit cards when you shop, travel, or dine.
What Are Fuel Credit Cards?
These are co-branded credit cards launched by an oil company in a tie-up with a bank. It offers exclusive benefits when you purchase fuel from that specific brand. You can use these cards at fuel stations to get benefits like:
-
Surcharge waivers
-
Cashback or value-back
-
Offers
-
Accelerated reward points
-
Joining benefits of fuel vouchers
What Is The Eligibility Criteria?
If you are looking to apply for these types of credit cards, there are some eligibility terms you may need to meet:
-
You should be over 18 years old
-
You must be a resident of India
-
You need to have a steady income from salary or self-employment
-
You must have a high credit score, preferably greater than 750
Benefits Of Fuel Credit Cards
From providing fuel surcharge waivers to roadside assistance, a fuel credit card benefits you in multiple ways. Say you are going on a road trip with your friends. Saving on fuel isn’t the only aspect you will be concerned with.
You may also need roadside assistance and enjoy access to cashback and rewards when you are shopping, dining or booking hotels. Most of the top fuel credit cards come with all of these benefits, such as:
-
Fuel Surcharge Waiver
As fuel prices increase day by day, the option to save as you pay becomes more valuable. By smartly using a fuel credit card, you can get waivers of the surcharge on your total bill of 1-2.5% on each payment.
-
Free Fuel As a Welcome Gift
Some premium fuel cards also offer a few litres of free fuel as a joining gift. This welcome offer is usually available on a co-branded card with companies like HPCL, BPCL or IndianOil.
-
Rewards & Cashback On Fuel Purchase
These credit cards not only offer you surcharge waivers, but also give you accelerated reward points and exciting cashback when you refuel. Check the rewards and loyalty program when you opt for a fuel card. Also, look for the percentage of cashback you may get when you pay with your credit card at petrol pumps and gas stations.
-
Additional Benefits Related to Travel
When you drive a car or two-wheeler, getting roadside assistance if your vehicle breaks down is a boon. There may also be some other emergencies that you may face on the road. Some fuel cards offer 24X7 roadside assistance and personal accident cover. These additional benefits ensure that you always stay secured.
Fuel credit cards also offer great travel perks like complimentary lounge access. This depends on the specific card you are getting, so check the terms and conditions.
-
Offers & Discounts
These cards also provide offers and discounts on:
-
Shopping
-
Travel
-
Dining
-
Entertainment
With these cards, you can enjoy offers at e-commerce platforms and stores. Enjoy flat discounts when you are booking a hotel or your airline ticket. You may also get a ‘buy one get one offer’ on movie tickets and a variety of other exciting deals from renowned brands.
How To Choose The Best Fuel Credit Card
A little research will surely help you to identify the ideal card easily. To improve your experience when using a credit card to save more on fuel purchases, consider these aspects.
-
Check if there are any cashback restrictions on utility payments, petrol purchases, and other expenses
-
Be aware of any limitations on offers for movie tickets, shopping, and airport lounge access
-
Check if any additional fees apply to transactions such as rental payments, foreign spending, etc.
-
Ensure you check the charges for EMI conversions, credit card loans, and other facilities
-
Make sure the card offers you deals with brands you already like shopping from
-
See if the rewards program gives you access to experiences and merchandise that you’d like to redeem in the future
While most other cards may provide you cashback and discounts at selected fuel stations, the One Credit Card provides you with value back on all major pumps. By using this card, you can get a 2% value back on all your fuel transactions at top brands like HPCL, BPCL, IndianOil, etc.
What’s more, the One Credit Card is lifetime-free, so you don’t need to pay any joining fee, annual fee or any hidden charges. The One Credit Card Mobile App also makes you a smart spender by giving you a detailed analysis of your spending. It also allows you to control all aspects of your card with just a tap. So, what are you waiting for? Apply today and enjoy a range of savings and benefits.