Fuel expenses are a significant part of many people’s monthly budgets, especially for those who rely on personal vehicles for daily commuting or frequent road trips. To ease the burden of rising fuel prices, credit card issuers have introduced fuel cashback rewards as an attractive benefit. These cards allow users to save money on fuel purchases, offering perks like cashback, reward points, and surcharge waivers.
In this article, we dive into the top six credit cards that provide excellent fuel cashback rewards, their features, eligibility criteria, and how to maximize their benefits.
1. Indian Oil Axis Bank Credit Card
Why It Stands Out:
The Indian Oil Axis Bank Credit Card is tailored specifically for fuel transactions, offering significant savings at Indian Oil fuel stations across the country.
Key Benefits:
- Cashback Rewards: Earn 4% cashback on fuel purchases made at Indian Oil outlets.
- Reward Points: Additional 1% cashback on all other spends.
- Fuel Surcharge Waiver: Enjoy a 1% surcharge waiver for fuel transactions.
- Welcome Offer: Receive 100% cashback on your first fuel transaction (up to ₹250).
Annual Fee:
₹500 (waived off if annual spends exceed ₹50,000).
Eligibility:
- Minimum age: 18 years.
- Stable income source required (proof necessary).
Ideal For:
This card is perfect for individuals who regularly refuel at Indian Oil stations and are looking for straightforward cashback benefits.
2. SBI BPCL Credit Card
Why It Stands Out:
The SBI BPCL Credit Card is specifically designed to reward customers for fuel purchases at Bharat Petroleum outlets.
Key Benefits:
- Fuel Cashback: Earn 4.25% value back on fuel purchases at BPCL pumps.
- Reward Points: Earn 13x reward points on fuel spending and 1x on non-fuel expenses.
- Fuel Surcharge Waiver: 1% waiver on fuel surcharges.
- Additional Perks: Accelerated rewards on groceries and departmental store purchases.
Annual Fee:
₹499 (waived on spending ₹50,000 annually).
Eligibility:
- Minimum age: 21 years.
- A good credit score is recommended for approval.
Ideal For:
This card is ideal for individuals who frequently refuel at BPCL outlets and prefer reward points over direct cashback.
3. HDFC Bank Bharat Credit Card
Why It Stands Out:
The HDFC Bank Bharat Credit Card is a versatile option, offering benefits on fuel along with cashback on other utility bills and groceries.
Key Benefits:
- Fuel Cashback: Earn 5% cashback on fuel transactions.
- Other Benefits: 5% cashback on utility bill payments, mobile recharges, and groceries.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions at all fuel stations.
- Easy EMI Options: Convert large purchases into easy EMIs directly through the card.
Annual Fee:
₹500 (reversible on spending ₹20,000 in a year).
Eligibility:
- Minimum age: 21 years.
- Salaried or self-employed individuals with a stable income.
Ideal For:
This card is suitable for those looking for a multi-purpose card offering benefits beyond fuel.
4. ICICI Bank HPCL Super Saver Credit Card
Why It Stands Out:
The ICICI Bank HPCL Super Saver Credit Card offers comprehensive savings on fuel purchases and additional benefits for everyday spends.
Key Benefits:
- Fuel Cashback: 5% cashback on fuel purchases at HPCL stations.
- Reward Points: 5% cashback on utility bill payments and groceries, 1% on other transactions.
- Fuel Surcharge Waiver: 1% surcharge waiver on fuel spends.
- Exclusive Discounts: Additional discounts on dining through ICICI’s culinary program.
Annual Fee:
₹500 (waived on spending ₹1,50,000 annually).
Eligibility:
- Minimum age: 21 years.
- Proof of income required during application.
Ideal For:
Best suited for HPCL customers and those seeking broader savings across multiple spending categories.
5. Citibank IndianOil Credit Card
Why It Stands Out:
The Citibank IndianOil Credit Card is another excellent choice for Indian Oil customers, focusing on fuel-related rewards.
Key Benefits:
- Fuel Rewards: Earn up to 71 liters of free fuel annually based on reward point accumulation.
- Reward Points: Earn 4x reward points on fuel purchases and 2x on groceries and supermarkets.
- Fuel Surcharge Waiver: Full waiver of fuel surcharge for transactions up to ₹10,000 per month.
- Exclusive Deals: Access to Citi Privileges for dining and shopping.
Annual Fee:
₹1,000 (waived for annual spends above ₹30,000).
Eligibility:
- Minimum age: 21 years.
- Requires a decent credit history and income proof.
Ideal For:
Great for loyal Indian Oil customers who prefer reward points convertible to free fuel.
6. Standard Chartered Super Value Titanium Card
Why It Stands Out:
This card offers a robust cashback mechanism that benefits frequent fuel buyers while also providing savings on other utility expenses.
Key Benefits:
- Fuel Cashback: 5% cashback on fuel transactions across all fuel stations.
- Additional Perks: 5% cashback on phone and utility bill payments.
- Fuel Surcharge Waiver: 1% waiver on fuel spends.
- Reward Points: Earn points on every transaction that can be redeemed for gifts or vouchers.
Annual Fee:
₹750 (waived for annual spends exceeding ₹60,000).
Eligibility:
- Minimum age: 21 years.
- Both salaried and self-employed individuals with proof of stable income.
Ideal For:
Perfect for individuals who prioritize fuel and utility savings over specialized fuel station loyalty.
How to Choose the Best Fuel Cashback Credit Card
Selecting the right credit card depends on your spending habits and preferences. Here are some factors to consider:
- Fuel Station Preference: Choose a card aligned with your preferred fuel station, such as Indian Oil, HPCL, or BPCL.
- Annual Fee and Waivers: Check the annual fee and whether it can be waived upon meeting specific spending thresholds.
- Additional Perks: Look for cards offering rewards on groceries, dining, or utility bills for added value.
- Eligibility Criteria: Ensure you meet the income and age requirements to avoid application rejection.
Maximizing Fuel Cashback Rewards
To make the most of these credit cards:
- Use the card exclusively for fuel purchases and eligible categories to maximize rewards.
- Pay off your balance in full each month to avoid interest charges that could negate your savings.
- Track your spending to ensure you meet the annual fee waiver criteria if applicable.
Conclusion
Fuel cashback credit cards are a practical solution to combat rising fuel costs while reaping additional rewards. Whether you’re loyal to a specific fuel station or looking for broader benefits, the top six cards highlighted in this article cater to diverse needs.
