Best Fuel Credit Card in India for 2024
Editorial Note: This content has been independently collected by the Forbes Advisor team and is offered on a non-advised basis. This content is not part of the comparison service provided by RunPath Regulatory Services. Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations.
Automobiles are an integral part of modern day-to-day life, making fuel expenses unavoidable, but by smart use of your credit card you can not only earn cashback but also get a waiver in the surcharge bringing your expenses down to around 5%.
We have analyzed the top fuel credit cards available in the country to help you choose the right one for you.
- Featured Partner Offer
- Best Fuel Credit Cards
- IndianOil Citi Credit Card
- IndianOil HDFC Bank Credit Card
- BPCL SBI Credit Card
- ICICI Bank HPCL Super Saver Credit Card
- IndianOil Axis Bank Credit Card
- Standard Chartered Super Value Titanium Credit Card
- Summary of Best Fuel Credit Cards
- Methodology
- What is a Fuel Credit Card?
- How Do Fuel Credit Cards Work?
- How to Apply for a Fuel Credit Card?
- Who is Eligible to Apply For a Fuel Credit Card?
- How to Choose the Best Fuel Credit Card?
- What are the Benefits of a Fuel Credit Card?
- Featured Partner Offer
Featured Partners
1
Standard Chartered Rewards Credit Card
Annual Fees
No joining fees. Second-year annual fees waived with INR 1,50,000+ spends in the previous year.
Benefits
4 reward points* per INR 150 on all retail spends
Other Benefits
4 domestic lounge access per year, 1% Fuel Surcharge Waiver on all fuel spends
2
SBI Cashback Credit Card
Annual Fees
INR 999 + 18% GST (Renewal Fee Waived on INR 2 Lakh annual spend)
Features
5% Cashback on online* spends with no merchant restrictions
Additional Benefits
1% Cashback on offline* spends, 1% Fuel Surcharge Waiver at all petrol pumps in India
3
HSBC Cashback Credit Card
Annual Fees
INR 999 (refunded if annual spend exceeds INR 2 lakh)
Welcome Benefit
Get Amazon vouchers worth INR 1000*
Additional Benefits
4 complimentary domestic lounge visits per year, 10% cashback on all dining and food delivery spends
4
Axis Bank Vistara Infinite Credit card
Annual Fees
INR 10,000
Welcome Benefits
1 Complimentary Business Class Ticket
Additional Benefits
Complimentary Club Vistara Membership, 4 Business class ticket every year
5
Amex Platinum Travel Credit Card
Annual Fees
INR 3,500 + 18% GST
Welcome Benefits
10,000 Membership Rewards points for Flipkart vouchers”
Additional Benefits
8 domestic lounge access per year, Spend INR 4 lakhs and get a INR 10,000 voucher from the Taj Group
Best Fuel Credit Cards
Summary of Best Fuel Credit Cards
Methodology
We have rated the fuel credit cards on the basis of following five factors:
- Ease of Use: Where the system of cashback or reward points is clear to understand and it is easy to use those reward points. We have also taken into consideration caps on getting these reward points.
- Extra Facilities: These include extra benefits provided by a card other than the usual payment making, like welcome benefits, discounts on other things than fuel, surcharge waiver, etc.
- Cost of the Card: The annual fee, add-on charges, hidden charges and rebates all make up for this.
- Acceptance: Universal acceptance of the card is a must and is another important factor with the credibility of the issuer.
- Redemption of Reward Points: The most important point is the redemption of reward points, the procedure should be transparent and easy for the users.
What is a Fuel Credit Card?
While designing a credit card the issuers keep their focus on a particular service and that service becomes the focus of that credit card, the credit card is named in a manner to declare its focal point.
So, as the name suggests a fuel credit card has its focus on facilitating fuel purchase, hence, it can be defined as follows:
A fuel credit card is a credit card offering cashback or reward points on the purchase of fuel (petrol or diesel).
How Do Fuel Credit Cards Work?
Fuel credit cards, often known as gas credit cards, are specialized credit cards designed to offer unique benefits and discounts when you purchase fuel. These cards work by providing cardholders with various advantages related to fuel expenses. Here’s how they typically work:
Fuel Discounts: Fuel credit cards offer discounts, cashback, or rewards when you use them to purchase fuel. These discounts can range from a fixed percentage off the fuel price to cashback on every transaction.
Network Partnerships: Many fuel credit cards have tie-ups with specific fuel stations or chains. These partnerships enable cardholders to avail of more substantial discounts and benefits when they purchase fuel from these designated stations.
Reward Points: Some fuel credit cards provide reward points or cashback not only on fuel purchases but also on other everyday expenditures. These reward points can often be redeemed for fuel vouchers or used for other benefits.
Fuel Surcharge Waiver: Certain cards offer a fuel surcharge waiver, which means cardholders don’t have to pay the standard surcharge levied on fuel transactions when using their credit card. This can lead to significant savings over time.
Special Offers: Fuel credit cards may also come with special promotions, such as zero annual fees for the first year or bonus reward points on the initial few fuel purchases.
Online and Mobile App Access: Cardholders can typically monitor their fuel expenses, reward points, and transactions through online banking platforms or mobile apps provided by the credit card issuer.
Regular Billing Cycle: Like standard credit cards, fuel credit cards have billing cycles, and cardholders are required to make minimum payments on time to avoid interest charges.
Credit Limits: The credit limit on a fuel credit card, as with other credit cards, depends on the cardholder’s creditworthiness. A higher credit limit allows for more substantial fuel purchases.
Eligibility: To get a fuel credit card, individuals need to meet specific eligibility criteria, including a good credit score and a steady source of income.
How to Apply for a Fuel Credit Card?
Applying for a fuel credit card is a straightforward process. Here’s a step-by-step guide on how to apply for a fuel credit card in India:
Check Eligibility Requirements:
Before you start the application process, review the eligibility criteria for the fuel credit card you’re interested in. Requirements may include minimum age, income, and credit score. Make sure you meet these criteria to increase your chances of approval.
Required Documents:
Prepare the required documents for the application. Common documents include proof of identity (such as Aadhar card, passport, or driver’s license), proof of address (utility bills or rental agreement), income proof (salary slips, ITR statements, or bank statements), and passport-sized photographs.
Visit the Bank’s Website:
Go to the official website of the bank or financial institution offering the selected fuel credit card.
Navigate to the Credit Card Section:
Explore the credit card section of the bank’s website. There, you’ll find information about the available credit cards, including features, benefits, fees, and application guidelines.
Online Application Form:
Once you’ve chosen a specific fuel credit card, find the online application form for that card. Fill out the required information accurately. This typically includes your personal details, contact information, employment details, and financial information.
Upload Documents:
During the online application process, you’ll be prompted to upload scanned copies of the documents mentioned earlier. Make sure the documents are clear and legible. Carefully review the application form to ensure all details are accurate and complete. Once you are satisfied, submit the application.
Review:
After submitting your application, the bank or financial institution will review your application and documents. This may take a few days to a few weeks. Be patient during this process.
Verification:
You might receive a verification call or visit from the bank’s representative to confirm the details provided in your application. The bank will conduct a credit check to assess your creditworthiness. A good credit score can improve your chances of approval.
Approval and Card Delivery:
If your application is approved, you will receive a confirmation from the bank. Your fuel credit card will be issued and delivered to your registered address within a few business days.
Activation:
Once you receive your fuel credit card, you will need to activate it. Follow the instructions provided by the bank to do this, which often involves calling a designated number or visiting the bank’s website.
Usage:
After activation, you can start using your fuel credit card to make purchases at fuel stations and other merchants. Keep track of your expenses and make timely payments to maximize the benefits and maintain a good credit history.
Who is Eligible to Apply For a Fuel Credit Card?
Eligibility criteria for fuel credit cards can vary from one credit card issuer to another, but certain common factors determine who is eligible to apply for a fuel credit card:
Age: Applicants for fuel credit cards should typically be at least 18 years old, or in some cases, 21 years old.
Credit Score: A good credit score is often a crucial eligibility criterion. Credit card issuers generally require a credit score of 650 or higher for approval, although some premium fuel credit cards may require a higher score.
Income: Card issuers usually ask for proof of a regular source of income. The minimum income required varies from one card to another, with premium cards often requiring a higher income.
Nationality: Applicants should be citizens or residents of the country where they are applying for the card. Some fuel credit cards may be available only to citizens, while others may be open to both residents and non-residents.
Employment Status: Many credit card issuers prefer applicants with stable employment. Salaried individuals, self-employed individuals, and business owners are often eligible. Some credit cards may require a minimum number of years in the current job or business.
Address Proof: Applicants may need to provide proof of their current address. This could be a utility bill, rental agreement, or other documents that confirm their residence.
Documentation: Applicants need to submit the necessary documentation, including identity proof (e.g., passport, driver’s license), income proof (e.g., salary slips, IT returns), and address proof. The specific documents required can vary based on the issuer’s policies.
Existing Debt and Credit Utilization: Credit card issuers consider an applicant’s existing debt and credit utilization. If an applicant already has multiple credit cards with high balances, it might affect their eligibility for a new credit card.
CIBIL Score: In India, for instance, a high Credit Information Bureau India Limited (CIBIL) score is often a key factor in determining eligibility. A score of 750 or higher is generally considered good.
Bank Relationship: Having a pre-existing banking relationship with the card issuer can sometimes be an advantage. Some banks may offer better terms to their existing customers.
How to Choose the Best Fuel Credit Card?
Choosing the best fuel credit card involves considering your individual spending habits, preferences, and financial goals. Here are steps to help you select the right fuel credit card for your needs:
Compare Rewards and Discounts: Different fuel credit cards offer various rewards and discounts. Compare the rewards, such as cashback, fuel surcharge waivers, or reward points. Choose a card with rewards that align with your preferences. For example, if you prefer cashback, select a card offering cashback on fuel expenditures.
Consider the Fuel Network: Check if the fuel credit card is accepted at the fuel stations you frequently use. Some cards have tie-ups with specific fuel companies, so ensure these stations are easily accessible to you.
Assess Additional Benefits: Look beyond fuel benefits. Many credit cards provide additional perks, such as airport lounge access, dining discounts, or rewards on other categories like groceries and utilities. Choose a card that offers benefits you can maximize.
Annual Fees and Charges: Understand the card’s fee structure, including annual fees, joining fees, and any hidden charges. Some cards waive the annual fee if you meet specific spending criteria.
Redemption Options: Understand how you can redeem the rewards you earn. Some cards offer flexible redemption options, allowing you to convert rewards into fuel, cashback, or other benefits. Ensure the redemption process is straightforward.
Terms and Conditions: Carefully read the terms and conditions of the card, including the fuel surcharge waiver limit and expiration dates for rewards. This will help you avoid any surprises in the future.
Customer Service: Consider the quality of customer service provided by the card issuer. Easy access to customer support can be valuable if you encounter issues with your card.
Evaluate Annual Savings: Calculate the potential annual savings you can achieve with each card. Consider the fuel discounts and rewards in conjunction with the annual fees to assess the card’s overall value.
What are the Benefits of a Fuel Credit Card?
Fuel credit cards offer several benefits that can help you save money and enhance your overall credit card experience. Here are the key advantages of having a fuel credit card:
Fuel Discounts: The primary benefit of fuel credit cards is the savings on fuel expenses. These cards typically offer fuel discounts, cashback, or reward points on fuel purchases. You can save a significant amount over time, especially if you have substantial monthly fuel expenses.
Fuel Surcharge Waiver: Many fuel credit cards provide a fuel surcharge waiver. This means that you won’t have to pay the extra fee typically applied to credit card fuel transactions. It effectively reduces the cost of fuel for cardholders.
Capped Amount: Credit card companies often cap the maximum surcharge amount you can be charged for a single transaction. For example, they might cap it at a certain rupee value, ensuring that the surcharge doesn’t become excessively high for large fuel purchases.
Reward Points: Fuel credit cards often allow you to earn reward points on fuel purchases. These points can be redeemed for various benefits, including fuel vouchers, cashback, gift cards, and merchandise. It’s a way to earn more from your regular fuel spending.
Additional Perks: Some fuel credit cards offer additional perks beyond fuel discounts. These can include airport lounge access, dining discounts, travel insurance, and concierge services. The card’s additional benefits can enhance your overall lifestyle.
Welcome Gifts: Many fuel credit cards provide attractive introductory offers, such as welcome bonuses, zero fuel surcharge fees for the initial few months, or accelerated rewards on early purchases. These offers can provide immediate value to cardholders.
Track Fuel Expenses: Fuel credit cards often provide detailed statements and online account management tools. This makes it easier to track your fuel expenses and monitor your spending patterns.
Credit Building: Responsible use of a fuel credit card can contribute to building or improving your credit score. Timely payments and low credit utilization demonstrate financial responsibility to credit bureaus.
Safety and Convenience: Carrying a fuel credit card is a safer and more convenient alternative to carrying large amounts of cash when refueling your vehicle. It also provides an additional layer of security in case of theft or loss.
Emergency Assistance: Fuel credit cards often come with emergency assistance services, such as roadside assistance, lost card replacement, and customer support. These services can be valuable during unexpected situations.
Multiple Redemption Options: Reward points earned through fuel credit card usage can typically be redeemed for various purposes, including travel bookings, gift cards, merchandise, and fuel purchases, providing flexibility in how you use your rewards.
Featured Partners
1
Standard Chartered Rewards Credit Card
Annual Fees
No joining fees. Second-year annual fees waived with INR 1,50,000+ spends in the previous year.
Benefits
4 reward points* per INR 150 on all retail spends
Other Benefits
4 domestic lounge access per year, 1% Fuel Surcharge Waiver on all fuel spends
2
SBI Cashback Credit Card
Annual Fees
INR 999 + 18% GST (Renewal Fee Waived on INR 2 Lakh annual spend)
Features
5% Cashback on online* spends with no merchant restrictions
Additional Benefits
1% Cashback on offline* spends, 1% Fuel Surcharge Waiver at all petrol pumps in India
3
HSBC Cashback Credit Card
Annual Fees
INR 999 (refunded if annual spend exceeds INR 2 lakh)
Welcome Benefit
Get Amazon vouchers worth INR 1000*
Additional Benefits
4 complimentary domestic lounge visits per year, 10% cashback on all dining and food delivery spends
4
Axis Bank Vistara Infinite Credit card
Annual Fees
INR 10,000
Welcome Benefits
1 Complimentary Business Class Ticket
Additional Benefits
Complimentary Club Vistara Membership, 4 Business class ticket every year
5
Amex Platinum Travel Credit Card
Annual Fees
INR 3,500 + 18% GST
Welcome Benefits
10,000 Membership Rewards points for Flipkart vouchers”
Additional Benefits
8 domestic lounge access per year, Spend INR 4 lakhs and get a INR 10,000 voucher from the Taj Group
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.