ICICI Bank raises the bar in credit card space with fuel discount offering

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ICICI Bank on Tuesday launched a co-branded offering that gives discounts on fuel purchases. The ‘ICICI Bank HPCL Super Saver’ card will offer 5% cashback at the state-owned oil refiner’s outlets and an additional 1.5% if the payment is done through the ‘HP Pay’ app, an official statement said.

The card offers rewards and benefits to customers on their everyday spends on fuel as well as other categories including electricity and mobile, departmental stores like Big Bazaar and D-Mart, and e-commerce portals, among others.

The card launch offering a discount on fuel also comes at a time when petrol and diesel prices have touched record highs and calls are being to lower its taxes, which influence 60% of the retail price.

“This credit card will help in promoting the digital payment ecosystem at retail outlets and meet the expectations of the customers with its innovative offerings,” HPCL’s executive director for retail S K Puri said.