You must have surely heard the term “Fuel Credit Cards” or you must have a desire to have one. But before getting a credit card, you must be having some questions in your mind such as What a fuel credit card actually is? Do I need a fuel credit card or not? Which fuel credit card should I choose? It is quite obvious to have such questions in your mind. And in this article we are going to explore the best fuel credit cards helping you to save your earned money on fuel expenses.
If you are someone who is looking for best fuel credit cards then you are at the right spot as in this article by the experts at Banking of India we are going to provide you the list of best fuel credit cards so that you can finalize the ideal one as per your requirements and needs.
List of Best Fuel Credit Cards
Indian Oil Axis Bank RuPay Credit Card
On-boarding benefits
100% cashback on the first fuel transaction made via this credit card but within a month of its issuance.
Rewards Rate
Reward Points
Joining Fees
Rs. 500+GST
Indian Oil Citi Bank Credit Card
On-boarding Benefits
250 Turbo Points on Card Activation
Reward Points
1 Turbo Point for every spend of INR 150, 2 Turbo Points for every INR 150 spent at supermarkets and 4 Turbo points on every time you spend on INR 150 on fuel
Joining Fees
1000 + Taxes
Standard Chartered Super Value Titanium Credit Card
On-boarding Benefits
1,000 Cashpoints as a Newest Member.
Reward Points
5% cashback at selected online merchant partners and 1% cashback on rest transactions (except fuel and other governmental transactions)
Joining Fees
Rs 750 + Taxes
What is Fuel Credit Card?
A Fuel Credit Card is just another type of credit card whose rewards and benefits are inclined towards fuel transactions made using the same cards. With a fuel credit card in your pocket, you can easily pay by simply swiping the card rather than paying through cash, cheque etc. These are designed specifically to meet the fuel requirements of customers and provide them offers and saving benefits that they can avail while making fuel purchases. The fuel card can help you track all your expenses and spend more efficiently on fuel.
Perks of Fuel Credit Cards
Fuel Credit Cards are the best ones for the fuel purchases, but these have several other advantages as well. Here are benefits of fuel credit cards that you can avail.
- You can save a lot on fuel transactions
- You can get reward points that are redeemable not only against fuel against shopping, travel etc.
- You get fuel surcharge waiver.
- You can also get travel and lifestyle benefits with some fuel credit cards.
How do fuel credit cards work?
The fuel credit cards also work just every other credit card. To avail the benefits on the card, you need to make fuel transactions using your fuel card only. Once you have finalized this you can follow the steps mentioned below to apply for a best fuel credit card.
- Select your preferred Credit Card
- Click on the Apply Now Button
- Fill in your particulars
- Submit your application
Factors to consider before applying for a fuel credit card
The prospective application should keep a few things in mind before applying.
- Look for a fuel discount credit card that has the best interest rate as it would allow you to repay the borrowed amount with ease.
- Check the fees and charges before getting a credit so that the costs do not outweigh the benefits
- Check the type of fuel offers you can get the credit card and match them with your requirements.
- Make sure that the fuel card offers can be easily redeemed to enjoy the benefits.
Closing words
After getting all the reasons to have the fuel card and benefits, it is easier to choose the right fuel credit card for yourself. But make sure you have understood your requirements so as to avail of the maximum benefit of the best fuel credit cards: it is very necessary to make wise choice.
Frequently asked questions related to Fuel Credit Cards
If you are someone travel through roads frequently and incurs lot of fuel expenses, then fuel credit cards would great choice as it will help you to save more in the form of cashback.
If you are someone who spends generously on fuel purchases, you should surely opt for a fuel credit card.
SBI Credit Card offers fuel surcharge of 1% on fuel transactions.
Eligibility criteria to apply for a fuel credit card differs from bank to bank. But in general, your credit score must 650 or above to have fuel credit card.