9 ways to use credit card properly!

With the petrol and diesel prices at record highs, fuel debit and credit cards can help cushion its impact on your wallet. Some credit cards even give customers the freedom to buy fuel from any refilling station of any company and do not tie them down to a particular marketer. Recently public sector lenders such as SBI, Bank of Baroda and private lenders such as HDFC and ICICI Bank came up with multiple offers on fuel cards. Money9 gives you a brief description of the top nine credit and debit cards that give you maximum benefit.

BPCL SBI credit card

This credit card provides customers with a 4.25% money back which is equivalent to 13X reward points on vehicle refill at BPCL petrol pumps. The 4.25% money back also includes the 1% fuel surcharge waiver you can get for every transaction up to INR 4,000. Annual fee of the card is Rs 499 plus GST.

Stan-Chat titanium credit card

Applicants who have a stable monthly income of Rs 55,000 or above can avail this card. Cardholders can earn 5% cash back on fuel spends across any of the fuel stations in the country of up to Rs 200 per month, the maximum cash back is Rs 100 per transaction. The total cash back can go up to Rs 6,000 per month.

Citibank Indian Oil credit card

Users can earn up to 70 litres of free fuel annually from any of the Indian Oil fuel stations located across the country. The minimum income of the holder should be above Rs 25,000 per month.

Also, one can earn 4 turbo points that are equivalent to Rs 4 on spending Rs 150 using the credit card. The earned points can be redeemed instantly through SMS for free fuel at Indian Oil outlets. Get 1% fuel surcharge reversal on fuel purchases at any of the authorised Indian Oil outlets in India.

HDFC Indian Oil credit card

Through this card the user can earn up to 50 litres of free fuel annually. The joining fees and renewal membership fee of this credit card is Rs 500 and GST charges.

The cardholder can earn 5% of the total spend as fuel points at any of the Indian Oil fuel stations. A maximum of 250 fuel points (1 point = Rs 1) can be earned per month for the first six months and 150 fuel points after six months from the date of issue of credit card. Get 1% fuel surcharge waiver at all the fuel stations in the country, on a minimum transaction should be Rs 400.

ICICI HPCL credit card

The customer can earn 2.5% cash back and savings of 1% fuel surcharge on every purchase of fuel at any of the HPCL fuel stations across the country. The minimum transaction value should be equal to or above Rs 500.

Indian Oil Axis Bank credit card

100% cash back of up to Rs 250 on the fuel purchases done within 30 days of the card issuance can be availed and it is applicable only once. Individuals can also enjoy a 4% value back on every fuel transaction after that. This card gives you a discount of 1% on the fuel surcharge.

Bank of Baroda prime credit card

A customer can enjoy a fuel surcharge discount of 1% across all the refilling stations including IOC, HPCL or BPCL. Additionally, a fuel surcharge discount of up to Rs 250 per statement cycle can be earned which means that you can save around Rs 3,000 in a year on fuel expenses.

ICICI HPCL debit card

Every time you fill petrol at select HPCL pumps you will get zero surcharges on fuel purchases when you use the ICICI Bank HPCL debit card to make your payment.

 Besides for every Rs 200 spent at any merchant establishment in India, you would be earning 1 reward point, which will redeem at any HPCL petrol pump later on.

Bank of Baroda BPCL debit card

This RuPay platinum international debit card comes with various benefits including 5% cash back up to Rs 50 on the first 2 transactions at BPCL outlets. The customers will also receive 0.75% cash back incentive on fuel transactions up to maximum Rs 45 per transaction at over 19,000 BPCL outlets across India.

The customers can signup the BPCL PetroBonus loyalty platform and accrue handsome Petromiles. They will earn 10 PetroMiles on every fuel transaction worth Rs 100, which they can redeem for Rewards through BPCL SmartDrive app later on.