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Top 6 Credit Cards for Fuel Purchases

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The fact cannot be denied that the credit card industry in India is booming, given the increasing number people looking for a credit card. Credit cards not only prove beneficial while shopping, but it opens a whole new world of benefits as well. Today, most of the banks offer a wide variety of credit cards as per the needs of the customers. You can have a credit card for air traveling where you get to earn free air miles, exclusive lounge access, whereas other credit cards made for online shopping offer lucrative cashbacks and discounts.

Seeing the increasing price of fuel, both banks and credit card issuers have come up with special fuel cards offering exclusive benefits for the cardholders. Some of the best fuel cards are listed here, go ahead and take a pick.

#1. Indian Oil Citi Platinum Credit Card 

Since we are discussing the best fuel cards, Citibank Indian Oil credit card is the first credit card I am going to discuss. With this card, you get instant redemption at all Indian Oil stations and you get to enjoy 5% savings on the fuel bills as well. For every Rs. 150 spent on fuel, you get to earn 4 turbo points. Remember, 1 turbo point is equal to 1 Rs free fuel. In addition, if you are carrying this card, you also get to enjoy 2.5% fuel surcharge waiver on fuel purchase. 

For this card, you need to pay an annual fee of Rs. 1,000, however, if the total spending on the card, in a membership year, is Rs. 30,000, then the annual fee will be waived off. When you join, 250 bonus points get added to your credit card.

#2. RBL Bank Titanium Delight Credit Card 

Securing the second position is RBL Bank Titanium Delight credit card. Using this credit card, you get to enjoy 2.5% fuel surcharge waiver on the fuel transactions across all fuel stations in India. This waiver is only applicable to the transaction between Rs. 500 to Rs 4,000. If Wednesday is your favorite day to buy groceries from Big Bazaar, then you will be offered 5% value back on your purchases. There is additional Wednesday offers both at Domino’s Pizza and Pizza Hut i.e. 10% value back. If you like watching movies, then Titanium Delight credit card has BookMyShow offer of free 1+1 movie ticket (once every month) on Wednesdays. The card has a membership fee of Rs. 750, but wait, the fees will be waived off if your previous year’s spending is Rs. 1 Lakh or more. 

#3. IndusInd Platinum Aura Credit Card 

IndusInd Bank Platinum Aura credit card is in the third position. Purchase fuel using this credit card and avail 1% fuel surcharge waiver. Make sure you are aware of the fact that the waiver is valid on the transactions between Rs. 400 to Rs. 4,000 irrespective of the petrol pump. Being a cardholder, you are also offered emergency fuel supply according to which you will be delivered fuel in case your vehicle is stranded as it ran out of fuel.

#4. HDFC MoneyBack Credit Card 

HDFC Bank is one of the leading banks of India and it offers a gamut of credit cards catering to the particular needs of the customers. With this credit card in your wallet, you don’t have to think twice before making a road trip as you get to enjoy fuel surcharge waiver on purchasing fuel between Rs. 400 to Rs. 5,000. However, the maximum fuel surcharge waiver you will be offered is Rs. 250 per billing cycle.

If I talk about savings, then with this credit card you will be saving up to Rs. 1,800 on the fuel transactions. Well, this is based on assuming that you will be spending Rs. 6,000 on fuel every month. 

#5. Standard Chartered Super Value Titanium Credit Card

This is a great card to have as it offers you attractive cashback offers on fuel, telecom, and utility bill payments. If you love going a long drive, then you don’t have to think twice about the fuel as you get to enjoy 1% fuel surcharge waiver on all major petrol pumps including – Indian Oil, Reliance, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited. You also get to enjoy 5% cashback on fuel purchase at all leading petrol pumps. 

#6. ICICI Bank HPCL Platinum Credit Card

 Yes, this credit card is costly, but trust me at the end of the day, it is worth the price. I feel without including this credit card, the list is incomplete. First and foremost, when you purchase fuel using this credit card, you get to receive cashback of 5% and 2.5%. You also get 2.5% fuel surcharge waiver on the amount you spend on any fuel station across India. There is 5% cashback on telecom bill payments and 5% on utility bill payments as well.

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5 Often Overlooked Credit Card Insurance Benefits

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Unlike credit card rewards, cashback or miles, many of the best perks of a credit card are rarely mentioned by credit card issuers. Instead, they are often buried under the fine print or overlooked. You might not know but your credit card might help in making life’s little emergencies a lot easier to handle. If the next time, you lose your luggage at the airport, drop your phone in swimming pool or discover an unauthorised transaction on your card, just know that your card could help you in ways you did not expect, provided you go by the rules. It’s always worth your time to go through the welcome kit of your new credit card or terms and conditions of your desired card to know the significant perks offered by that card.  Most of your credit cards offer insurance covers such as zero lost card liability, lost luggage insurance, purchase protection, rental car damage insurance, trip cancellation insurance, travel insurance cover and much more.

The type of insurance benefits you get depends on your specific credit card, but here’s an overview of the standard insurance covers offered by various credit card issuers that may be available on your card.

Read Also: Tips To Resolve Your Credit Report Disputes

1. Travel Accident Insurance: 

You can consider it as a miniature of a life insurance policy, which you get for free when you book your tickets with your credit card. If you meet with any accident, your credit card provides disability and death benefits to you and your survivors, whichever the case may be. But, don’t confuse accidental insurance with medical cover. For example, if you were to break your ankle during a skiing accident, your credit card issuer won’t be providing you with medical coverage.

So, before going on a trip, check what kind of coverage is provided by your credit card issuer. However, consider this only as a back-up as having a travel insurance policy is a must!

2. Zero Lost Card Liability feature:

Most credit cards offer Zero Lost Card Liability policy for fraudulent credit card charges. If your card gets stolen or lost, then by claiming lost card liability, you will not be held liable to pay for any transaction made on the card on a condition that you report the incident within 24 hours. If you notice unauthorized transactions on your account, then you can simply inform your card issuer and file a claim. In most cases, the bank issues a new credit card and conducts an investigation.

3. Rental car insurance 

Many credit card companies offer rental car insurance as well so that you need not pay extra for damages, if any, out of your pocket. Most credit cards offer cover for your collision repair provided you don’t exercise the rental car company’s insurance. For example, if you get a dent in your rental car and submit the claim along with all the paperwork, then your credit card company might reimburse you in full for your damage. Usually, most cards offer secondary coverage which only pays for what your car insurance company does not cover. The extent of rental car insurance coverage offered by various credit cards differs from card to card. Some cards offer secondary coverage while some offer full damage coverage. The fine print on your credit card might be tricky,  therefore, it’s important to contact your card issuer and verify the coverage policy in advance. Credit card companies have their own set of restrictions and they often refuse to pay some types of charges which are levied by the car rental companies.

4. Lost Luggage Insurance 

If your checked-in luggage goes missing for good, credit card issuers will reimburse you for the items in your suitcase, on the condition that you book your tickets from their issued credit card. Usually, credit card companies offering this benefit maintain a bizarre list of items which they won’t insure including, traveller checks, glasses, and cameras. Hence, it is crucial to read the fine print carefully. You can simply call on the number given at the back of your card and depending upon your situation, your credit card company would put you in touch with an emergency travel assistance representative.

5. Purchase Protection 

Suppose you are making a big-ticket purchase, say a mobile, then it is helpful to choose a card which could cover for the unexpected mishaps (such as dropping it in a pool) to your newly purchased goods.

Credit card companies offer purchase protection in the following ways:

  • Price protection: If your credit card company offers you price protection then they’ll refund you the difference of the amount at which the product was bought initially and the reduced amount of the same product within a certain period of time. 
  • Purchase protection: If you have bought an item with your credit card and it gets stolen/lost/damaged then your credit card company will cover that item. This insurance is valid for a limited time period from the date of purchase. 
  • Extended warranties: With this feature, you can add up to a year of warranty to a product, in addition to the warranty provided by the product manufacturer. 

So next time, when you choose a credit card then look beyond the rewards and joining gifts. This might take some extra research and time, but it can be worth it if you find an ideal credit card with features that will make your life easier.

Read Also: Top 6 Credit Cards for Fuel Purchases

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