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About Fuel Credit Card in India

The Credit Card industry is booming nowadays, given the exponential number of people looking for credit. Credit cards not only offer convenient options for shopping and repayment modes but also open a whole wide world of benefits. Banks have a large array of credit card to suit every different need. There are credit cards designed especially for air travel offering benefits such as free air miles, exclusive lounge access etc. whereas other cards are designed for online shopping which offer cashbacks and discounts.

With the increasing price of fuel, banks and credit card issuers have come out with specially designed fuel cards which offer exclusive benefits. Read on to know more about Fuel Credit Cards.

Why should I opt for a Fuel Credit Card?

Fuel cards are one kind of credit card, designed to save you money every time you fill your vehicle at the petrol pump. In India, several banks have tie-ups with oil companies to offer you a co-branded credit card that make petrol and diesel much lighter on your pocket.

The use of co-branded cards at that company’s fuel outlet, nets you higher reward points, discounts, cash back or a combination of all three. These fuel cards offer a waiver on the fuel surcharge as well, that you would generally pay if you were using a normal credit card.

So, for example, if your bank has a tie up with Indian Oil, then you would get very attractive benefits - including the surcharge waiver or a cash back offer for using your co-branded fuel card when you fill your vehicle at an IndianOil outlet. For example, IndianOil Citi Platinum Credit Card offers 4 Turbo Points on every Rs.150 spent on fuel at partner IndianOil retail outlets across the country, apart from the usual Turbo points gathered for spending on grocery, supermarkets, shopping, dining and much more.

Fuel Credit Cards - Features

Fuel expenses usually account for a significant part of monthly expenditure in urban areas. Hence credit card companies in India have come up with co-branded credit cards which give exclusive benefits for customers buying petrol/fuel on their cards.

Some of the features of a typical Fuel Credit Card are listed below:

Redeem points for fuel

Earn Turbo Points/regular reward points but enjoy extra benefits while redeeming those points for fuel. You don’t just earn any points, but earn in Turbo Points when you use Citi’s IndianOil credit card. These points can either be redeemed against fuel, which can translate into free fuel, or for other benefits like exclusive merchandise from a rewards catalogue.

Fuel Cards also double up as Lifestyle cards, as in the case of ICICI Bank’s HPCL Credit Card. It has a BookMyShow offer for buying tickets, discounts on dining at leading partner restaurants, and Rewards points powered by a dedicated PAYBACK program. It gets you 5 PAYBACK points on every Rs. 100 spent on fuel across HPCL fuel stations and 2 PAYBACK points on all other spends. You can choose to redeem the accrued PAYBACK Points for actual fuel at partner HPCL pumps or for a wide range of gifts and offers listed on the PAYBACK website.

Enjoy Zero Fuel Surcharge

The fuel surcharge of 2.5% is waived when you pay for fuel with your Fuel Credit Card. There are certain spending limitations, and you need to swipe your card on the Merchant Services swipe machines only in order to avail of this benefit. For example, if you own an ICICI HPCL credit card, then you need to swipe this card at ICICI Merchant swipe machine at partner HPCL Petrol pumps only.

The Standard Chartered Super Value Titanium Credit card also offers a reversal of the 2.5 % fuel surcharge as well as 2.5% cashback on fuel transactions at multiple outlets, subject to conditions. It also offers cash back on telecom and utility bill payments and rewards points on spending.

Several general lifestyle cards also offer a fuel surcharge waiver, like for example SBI SimplySAVE Advantage SBI Card, without being specifically designed for fuel purchases or co-branded with an oil company.

Fuel Credit Cards - Benefits

There are various credit card issuers which offer additional benefits in terms of dining, shopping and other lifestyle benefits. You can avail these credit cards if you fulfill their eligibility criteria.

How to Choose the Best Fuel Credit Card

Choosing the best fuel credit card might not be so easy, given the multitude of options available in the market. However, you need to consider the following:

  • Your Fuel Spending pattern: Examine your expenses and decide how much of your monthly budget is going towards paying for fuel. Only opt for a Fuel Card if you own a car or a bike, and if you spend a considerable amount on fuel. There is no use choosing a card which offers fuel benefits if you do not have a significant monthly fuel bill. Additionally, you will end up paying more in terms of annual fees, joining fees, etc.
  • Your credit card payment pattern: Easily the most important criteria in choosing your credit card is your payment behaviour. You must make sure that you pay off your credit card dues every month, to avoid accumulating exorbitant interest amount. Ideally, look for a credit card that offers fuel benefits but which also offers the best interest rate, instead of a credit card which offers numerous rewards but an abnormally high interest rate. Whatever rewards you get for spending on your card will be wiped out by the high interest rate you pay on your outstanding.
  • Fees and charges: Before applying for a Fuel credit card, or any other credit card for that matter, you need to be sure of the fees and charges of each of the cards. Compare and contrast the cards online and then decide whether the card is worthwhile for you. Sometimes, a card may offer extremely attractive discounts and benefits but the annual fees, renewal fees, joining fees and other charges may be very high. This may negate the rewards that you earn on your spending.
  • Your income: You should carefully consider your monthly net income and decide whether you can afford a particular credit card as this could considerably increase your expense and might possibly put you in debt. Plan your expenses, keep a dedicated expenses sheet if needed in order to track your spending habits. If you feel sure that you can pay off your monthly credit card bills, only then should you opt for a credit card.

What are the eligibility criteria?

There are certain eligibility requirements when it comes to getting a fuel credit card and the requirements vary with different credit card issuers. So before applying for a particular card, make sure you fulfill all the eligibility requirements to minimize the chances of being rejected and damaging your credit score. The basic eligibility norm is having a good credit score, fulfilling the minimum age and income bracket. You can contact the bank to know the income and other eligibility factors.

Fuel Credit Card Review

The features and benefits of a Fuel Credit Card are designed so as to provide maximum benefit for those who frequently purchase fuel. Those looking to lower their fuel expenses, while simultaneously enhancing their lifestyle in other ways, can opt for this credit card.

The attractive rebates that a Fuel credit card offers along with other benefits, makes it a desirable option.

How do I apply for a Fuel Credit Card?

To apply for a Fuel Credit Card, you can walk into the nearest branch and submit the application form and documents or you can apply online. Some banks give limited period offers, like coupons or waiver on the charges for applying online. Typically, it can take up to 21 days for your credit card application to be processed.

Alternatively, if you think you need help with your credit card application and advice on eligibility, CreditMantri can guide you through the entire process and match you with the credit card that suits your needs the best.

Note: The cards mentioned in the article are merely indicative of the kinds of rewards and benefits on offer. You will need to choose your card based on your specific requirements.

Customer Reviews

Fuel Credit Cards
4.9 / 5 (12 Reviews)
  • 5/ 5

No more wasting time at the bank Going to a bank has always been a tedious process—waiting in line, having many unanswered questions, and always being rushed for time. For a person like me, a website like Creditmantri.com is a boon because you don't need to waste time going to a bank at all. The application process for a card is quick and simple. Within the promised time, I got my HDFC Diners Club Platinum credit card. Good customer service, I would like to add. They were very patient with my queries and handled everything professionally. This website is useful in the sense that we get the product we are eligible for in a short span of time. All the best, CreditMantri.

  • 5/ 5

Best Service provider I would suggest CreditMantri to anyone wholeheartedly. Their service is great. Their matching process is very simple. You just need to create your profile (it's free!) and all the credit cards that match your profile would be displayed. They provide excellent services online and offline as well. I had some questions regarding my credit card documentation, and every doubt and question was answered. I am happy to say I am the proud owner of a HDFC Club Rewards credit card, thanks to CreditMantri.

  • 5/ 5

CreditMantri - The Website has it all Extremely simple and easy to access info on various finance products. I found Creditmantri through a Google search for HDFC credit cards and was curious to know what kind of service they provide. Decided to sign up and I don’t regret it one bit. For one thing, it is free. Easy to choose the credit card once you have created your profile. I got a confirmation call from their customer service regarding the card I wanted – HDFC Money Back credit card. The documentation process itself is hassle free (a bank representative comes to collect your papers – yes, their claims are true!) and you don't need to go the bank at all. Overall, a great experience with CreditMantri.

  • 5/ 5

Easy Process It was very easy to apply for my credit card thanks to CreditMantri and team. I easily got my HDFC Visa Regalia credit card and the customer service person involved resolved all my queries satisfactorily. I found this a huge help considering I have never taken a credit card before. Only bit of feedback I can give is keep involving the customers more. That's it! The range of products listed in the website is very helpful to make a comparison. Very happy!

  • 5/ 5

Hi, first of all, I would like to say that I am a big-time believer of doing things myself. But after I found that my application request for a credit card was getting rejected everywhere, I decided to apply through CreditMantri. (Incidentally, my sister recommended it and I was against availing its service at first.) I do not regret signing up with CreditMantri a bit - It turned to be the best financial decision I have ever made. I got to know that the reason why I was being rejected - due to my low credit score and making too many applications. I immediately signed up for their credit improvement services for help with getting a card. A couple of months later, I am proudly flaunting my ICICI Coral credit card! Overall, great service!

  • 5/ 5

Great financial service provider! Their services are great and it takes only a minute to sign up! I wanted a credit card specially for my fuel transactions. I made my profile and within minutes I was matched up with ICICI HPCL credit card. The documentation process is fairly easy. A representative from the bank met me during my office hours and collected my documents and told me to wait for a week. I got the card within that time! The best part is the fuel surcharge is waived off with this credit card! Thanks to the CreditMantri team for making this happen. Heartily recommend it to anyone.

  • 5/ 5

Quick Response to queries! When in doubt, turn to CreditMantri! I am much delighted to use my ICICI Bank credit card, which I got through CreditMantri. I use this credit card to meet all my emergency needs. I am not stretching the truth when I say CreditMantri has the best-in-class services. I can say this confidently as I have applied through various other websites and found their customer service poor and their privacy policies substandard. But with CreditMantri, I must say that their privacy policy is excellent and I have not received any unwanted calls. Try CreditMantri if you want a quick response to your queries and want help with finding, applying and being approved for the right card.

  • 5/ 5

Swift Service! My application for a Citi rewards credit card got approved after approaching CreditMantri. It was my first time applying for a credit card. The CreditMantri executive explained the process and also the bank's norms for issue of Credit cards. I was advised in detail which I very much needed as I was still very new to credit cards and finance. I found that the service by CreditMantri to be swift and interactions with customer care executives to be cordial and helpful. Am very happy — all of my questions/doubts were addressed and clarified and I got my first card.  Thank you for the services rendered.

  • 5/ 5

Thumbs up! I would describe acquiring my Citi Bank credit card process as excellent. My experience with CreditMantri was smooth, to say the least. Any query I raised got resolved quickly, in a timely manner. I am satisfied with my PremierMiles credit card and I am reaping its benefits. Very happy by the timely response, the help extended to me by the customer service team and the mature way of handling customers. Great experience.

  • 5/ 5

"I approached CreditMantri for help with application for a Cashback credit card. After signing up FOR FREE (Yes, it’s really free, yay!). I felt the service rendered by team CreditMantri was awesome. I did not even need to go to the bank for giving my documents, they came to me! Brownie points! I got calls only from CreditMantri and Citi regarding my application. No calls from third-party people. This is one thing I am really happy about. Overall, I am happy with my Citi credit card, and it’s one of the best Cashback credit cards that I have (I own two other credit cards, more about it later perhaps!). Thanks, CreditMantri!"

  • 5/ 5

"Happy with CreditMantri Where do I start? I don’t know whether I should talk about their easy website user interface, or about their customer service, or about their professional approach. The response which I received from CreditMantri was very helpful, and it was immediate. Talking about my IndianOil Citi credit card, well, for starters, it becomes your best friend if you own a Bullet ;) and love travelling. This is the best credit card I feel as it gives me fuel benefits. Love my bike and my fuel card. More purchase, more points, the better for me! Happy with CreditMantri. "

  • 4/ 5

Satisfied! I had been looking for a new credit card for quite a while but was confused by all the options. I chanced upon this website during my research, and I decided to sign up with CreditMantri for its services. Everything is done online, they match your profile with the best lender possible for your profile. I think it is a fantastic idea. I am very happy about the user interface, as I find it easy to understand. I received my RBL Bank Platinum Maxima Credit Card as promised! Hats off to CreditMantri as well as RBL. I got the credit card very easily and quickly (within 7 days). Overall, I am very satisfied and would recommend CreditMantri readily to anyone.