Best Fuel Credit Cards in 2024

Fuel expenses can be significant, especially for those who commute daily. However, there is an opportunity to save on these costs through the use of a fuel credit card. Designed specifically to maximise fuel-related expenditures, these fuel cards come with various benefits that can help you manage your fuel expenses more effectively.

Some of the best fuel credit cards available in India in 2024 are listed below:

Here is a list of key highlights of the above-mentioned leading fuel credit cards:

ICICI Bank Platinum Chip Credit Card

• 1% fuel surcharge on fuel bills at HPCL pumps waived off

• No need to pay additional surcharge on fuel bills at HPCL pumps on spends of up to ₹4,000

BPCL SBI Card

• 2,000 reward points on payment of joining fees

• 13X reward points for every ₹100 spent on fuel at BPCL outlets

• 4.25% value back on BPCL fuel refills (13X rewards + surcharge waiver) on all BPCL transactions up to ₹10,000

IndianOil HDFC Bank Credit Card

• 5% of total spends at IndianOil outlets as fuel points

• 1 fuel point for every ₹150 spent on categories other than groceries and bill payments

• 1% fuel surcharge waiver on all fuel transactions irrespective of the outlet

ICICI Bank HPCL Super Saver Credit Card

• ₹100 cashback on using the HP Pay application to make payments

• 2,000 reward points on card activation

• 5% cashback on fuel transactions made at HPCL outlets

• 1.5% additional cashback on fuel transactions paid through the HP Pay app

IndianOil Axis Bank Credit Card

• 100% cashback (up to ₹250) on the first fuel transaction made within 30 days of card issuance

• 20X reward points for every ₹100 spent at IndianOil outlets

• 5 reward points for every ₹100 spent on online shopping

Standard Chartered Super Value Titanium Credit Card

• 5% cashback on all fuel transactions irrespective of the outlet (up to a maximum of ₹200 per month)

• 5% cashback on utility and phone bill payments (up to a maximum of ₹200 per month)

• 1 reward point for every ₹100 spent on all other categories of transactions

Bajaj Finserv RBL Bank Binge SuperCard

• 12X reward points on online spending

• 4000 points on spending ₹2,000 within first 30 days

• Save up to ₹100 on fuel bills of ₹500 - ₹4000 at any petrol pump across India

IndianOil Citi Credit Card

• 250 Turbo points on the first transaction made within 30 days of card activation

• 4 Turbo points for every ₹150 spent at IndianOil outlets

• 2 Turbo points for every ₹150 spent on groceries and supermarkets

• 1% fuel surcharge waiver on all fuel transactions at IndianOil outlets

BPCL SBI Card OCTANE

• 7.25% value back on fuel refills at BPCL pumps

• 6,000 reward points worth ₹1,500 on paying the joining fee

• 1% fuel surcharge waiver at BPCL pumps (up to ₹1,200/year, ₹4,000 cap per transaction)

• Earn 10 points for every ₹100 spent on groceries, dining, shopping, and movies, up to 7,500 points per month

IndusInd Bank Legend Credit Card

• Earn 1 point per ₹100 spent on weekdays and 2 points per ₹100 on weekends

• 1% surcharge waiver on fuel spends between ₹500 and ₹3,000, up to ₹100 per month

 

Note: The details mentioned above are subject to change at the discretion of the provider.

Let’s take a look at the key benefits and features that some of the best fuel credit cards typically offer. 

Accelerated Rewards

Fuel cards often provide accelerated rewards and cash back whenever you use them to pay for transactions made at partner OMC’s fuel outlets. For instance, the IndianOil Axis Bank Credit Card offers 20X reward points for every ₹100 spent at IndianOil outlets. So, if you frequently visit IndianOil outlets, using an IndianOil co-branded fuel card to pay for your transactions can help you accumulate rewards faster.

Discounts on Fuel Transactions

In addition to reward points, you may get discounts in the form of value backs or cash backs on fuel transactions. However, the amount of value back or cash back is dependent on the type of fuel card you own.

Surcharge Waivers

When you pay for fuel using a credit card, a charge known as the fuel surcharge is levied. It usually ranges from 1% to 3% of the total transaction value. Most fuel cards offer a fuel surcharge waiver of about 1%.

Applying for a fuel credit card is very simple. You can follow the below steps to apply for a fuel credit card:

1. Compare various fuel credit cards based on benefits like fuel surcharge waiver, cashback, reward points, and annual fees

2. Once decided, visit the website of the bank whose fuel card you wish to get

3. Fill out and submit the online credit card application form

4. Attach all the necessary documentation before submitting the application

5. The bank will check your eligibility and approve your application if satisfied

6. You will receive an intimation from the bank via an SMS or an e-mail

7. Within a few days, you will receive the card at your registered address as mentioned in the credit card application

To apply for a fuel card, you need to first satisfy certain eligibility criteria. These criteria vary from one card issuer to another. However, some common eligibility pointers are as follows:

1. Eligibility Criteria to Apply for a Fuel Credit Card

• You must be a resident Indian

• You must have a regular source of income

• You must be above 18 years of age

• You must possess a credit score of at least 700 or above

 

Note: Some card issuers may have strict minimum income requirements that you might need to meet to apply for fuel cards. Therefore, make sure to check the eligibility criteria first before proceeding to apply for the best credit card for fuel. 

 

Here’s a quick overview of some of the basic documentation that you might need to submit.

2. Documents Required

• A copy of your PAN card

• A copy of your identity proof - Voter’s ID, Aadhaar, Driving Licence or Passport

• A copy of your address proof - Aadhaar, Voter’s ID, Passport or Driving Licence

• A copy of your income proof - latest bank statements, form 16, latest salary slips or latest Income Tax Returns

 

Note: Apart from the list mentioned above, the card issuing bank may require you to submit additional documentation.

There are a few factors that you need to consider if you wish to get a good fuel credit card in India. Let’s take a quick look at some of the key factors:

Usage

Your usage is a major factor that you need to consider when choosing a fuel credit card. For instance, if most of your fuel purchases are from BPCL outlets, a BPCL co-branded fuel card may be the best option for you.

Nature of Benefits

Some fuel cards offer cash back, while others offer reward points. Therefore, it is important to choose a fuel card that offers just the kind of benefits that you wish to enjoy.

Accelerated Rewards

Most of the fuel credit cards in the country offer accelerated rewards when you purchase fuel from partner OMCs. The higher the rewards are, the more you get to save. So, make sure to choose a card that offers the largest rewards.

Fuel Surcharge Waiver

Many fuel credit cards offer fuel surcharge waivers of about 1% of the total transaction value. However, there are a few cards that don’t offer such waivers. Therefore, when choosing a fuel card, ensure that it comes with a fuel surcharge waiver.

Limits on Rewards

Card issuers generally impose an upper limit on the total amount of cash back or points that you can accumulate during a billing cycle. If you purchase fuel frequently, you might want to consider getting a fuel card with higher upper limits. This will allow you to maximise the benefits offered by the card.