3 Best Fuel Credit Cards in India 2024

Fuel is one of the major monthly expense that puts a dent in your pocket. Most of the credit cards are charged fuel surcharge when used for refueling and don’t earn any reward points. In this post I will be exploring some of the best fuel credit cards, which can help you earn little rewards on your monthly fuel expenditures. I have shortlisted three cards for this – SBI BPCL Octane Card, Indian Oil Axis Bank Credit Card, and IDFC HPCL First Power Plus Credit Card

Let’s take a closer look:

SBI BPCL Octane Card

Joining Fee: Rs. 1,499 + GST
Annual Fee: Rs. 1,499 + GST (Waived on annual spending of Rs. 2,00,000)

The SBI BPCL Octane Card is a great choice for those who frequently refuel at Bharat Petroleum (BPCL) outlets. This card stands out for its high rewards rate, offering good savings on fuel spends.

Welcome Benefit:

• Receive 6,000 bonus reward points, equivalent to Rs. 1,500, as a welcome gift.

Fuel Rewards:

• 7.25% Value Back:
  • Earn 25X Reward Points for every Rs. 100 spent on fuel at BPCL petrol stations, providing a return of up to 6.25%.
  • Enjoy an additional 1% fuel surcharge waiver on transactions up to Rs. 4,000.

This card not only offers excellent rewards on fuel purchases but also provides value across other spending categories. The generous welcome bonus and substantial rewards make it an attractive option for heavy fuel spenders.

Indian Oil Axis Bank Credit Card

Joining Fee: Rs. 500 + GST
Annual Fee: Rs. 500 + GST (Waived on annual spending of Rs. 1,50,000)

The Indian Oil Axis Bank Credit Card is perfect for those who regularly refuel at Indian Oil (IOCL) outlets. It offers a solid set of benefits at a relatively low cost.

Welcome Benefit:

• Get a 100% value back (up to 1,250 EDGE Reward Points) on your initial fuel purchase.

Fuel Rewards:

• 4% Rewards:
  • Earn 20 Reward Points for every Rs. 100 spent on fuel at IOCL outlets, up to Rs. 5,000 per month.
• 1% Fuel Surcharge Waiver:
  • Applicable on transactions ranging from Rs. 400 to Rs. 4,000, with a maximum waiver of Rs. 50 per month.

This card offers a practical and straightforward rewards structure, making it easy for cardholders to earn rewards on their fuel purchases. Additionally, the Rupay variant supports UPI transactions, adding a layer of convenience for digital payments.

IDFC HPCL First Power Plus Credit Card

Joining Fee: Rs. 499 + GST
Annual Fee: Rs. 499 + GST

The IDFC HPCL First Power Plus Credit Card is tailored for those who prefer refueling at HPCL stations. It not only offers substantial savings on fuel but also provides a variety of other benefits.

Welcome Benefit:

• Receive Rs. 500 cashback on your first HPCL fuel transaction of Rs. 500 or more.
• Get 5% cashback (up to Rs. 1,000) on the transaction value of your first EMI conversion.
• Avail a Rs. 1,000 discount on Zoomcar rentals and up to 50% off on domestic and international car rentals with Eco Rent A Car and Europcar.

Fuel Rewards:

• Up to 6.5% Savings on Fuel:
  • Earn 4% rewards on HPCL fuel & LPG purchases up to Rs. 10,000 per month.
  • Additional 1.5% savings as Payback Rewards when fueling up to Rs. 5,000 per month through the HP Pay App.
  • A 1% fuel surcharge waiver is applicable on fuel expenses up to Rs. 20,000 per month.
  • 5% rewards on IDFC FIRST FASTag recharge, capped at Rs. 1,000 per month.

This card offers a comprehensive package of rewards and cashback, making it ideal for those who want to maximize their fuel savings and enjoy additional perks like discounts on car rentals.

Conclusion

Choosing the right fuel credit card can help you earn something in return with your heavy expense on fuel. Personally, fuel expenditure pinches me a lot given the already high cost of maintaining a car in India. The SBI BPCL Octane Card, Indian Oil Axis Bank Credit Card, and IDFC HPCL First Power Plus Credit Card are top contenders in the market, each offering unique advantages.

When deciding which card is best for you, consider your typical fuel spending, preferred fuel stations, and the overall value offered by the card. With the right choice, you can enjoy some savings on this lost category.

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