Currently, every time you make a fuel purchase through your credit card, you have to pay a fuel surcharge @ 1% (before 13 Jan 2017, it was 2.5%) subject to a minimum of INR 10. When one pays for fuel through credit card, a fee is levied which consists of transaction fee and service tax. This fuel surcharge ranges between 1% and 3% of the cost of fuel.
For instance – If one purchases fuel worth Rs. 200, he may have to pay between Rs. 205 and Rs. 218 due to fuel surcharge. Banks offer waiver of this fuel surcharge as one of the benefits on their credit cards.
If your SBI credit card has a fuel surcharge waiver, then it means you don’t have to pay the surcharge fees when you use the card to pay for petrol/diesel.
The BPCL SBI card is one such credit card that offers fuel surcharge waiver. Launched in collaboration with Bharat Petroleum, BPCL SBI Card helps you maximize your fuel savings. It offers a 4.25% value-back on fuel purchases at BPCL petrol pumps along with other benefits such as welcome bonus, reward points, etc. However, note that the surcharge waiver is applicable only on transactions up to Rs. 4,000 and the maximum surcharge waiver threshold per month is Rs. 10,000.
The annual fee charged on this card is Rs. 499 (waived off on spending Rs. 50,000 in a year). The eligibility for the card is a minimum income of Rs. 20,000 per month. You can also get 2,000 Activation Bonus Reward Points worth Rs. 500 on payment of the joining fee. Get 5X Reward Points on every Rs. 100 spent at Groceries, Departmental stores, Movies & Dining. Get 1 Reward Point for every Rs. 100 spent on non-fuel retail purchases.
If you spend heavily on petrol/diesel every month, then getting a credit card with a fuel surcharge waiver helps you maximize your savings on fuel expenses.
Additional Reading: What Is Petrol Surcharge Waiver In Credit Card