Fuel Credit Card Can Help You Save If You Are Brand Loyal


In an age of soaring gasoline and diesel prices, co-branded fuel cards can help save money.

The operation of fuel cards is simple. Cardholders get higher points for their fuel expenses. They can use the points for different purposes, including refueling. All of these cards also offer fuel surcharge waivers.

The IndianOil HDFC Bank credit card, for example, offers 5% of spend in the form of fuel points at IndianOil outlets. The user is also enrolled in the IndianOil XTRAREWARDSTM program.

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BPCL SBI Card Octane offers 25 loyalty points on each ??100 spent at BPCL outlets, and the IndianOil Citi credit card gives four points for every spend of ??150 at IndianOil outlets.

There are also other benefits, depending on the category of the card. For example, BPCL SBI Card Octane offers lounge access. These cards offer rewards for purchases, spending over a specific limit, etc. There may also be discounts at partner merchants.

Saving on gasoline and diesel costs by using co-branded fuel credit cards is only possible when you stick to specific brands and spend a lot on fuel. If you have an Indian Oil co-branded card, for example, you need to make sure that all of your refueling is done at the company’s point of sale. The same is true for other brands.

Co-branded fuel credit cards may also have certain caveats. According to the HDFC Bank website, customers can earn 5% of their spending in the form of fuel points. However, the maximum number of fuel points per month is limited to 250 during the first six months. After six months, the maximum fuel points an individual can earn is 150 per month.

All of these cards also have an annual fee, which issuers waive if the cardholder spends more than the specified limit. Before you apply for any of these cards, know the terms and conditions so that there are no surprises later.

(Do you have personal finance questions? Send them to [email protected] and get answers from industry experts)

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