Can a fuel credit card benefit you when petrol and diesel costs are high?

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What is the rate of petrol in your city? Surely, it must be sky-high. But do you know that you can save a few bucks on fuel by using fuel credit cards if a significant part of your income goes on petrol or diesel?

What are fuel credit cards?

To help you save on your fuel expenses, many co-branded fuel credit cards are available in the markets. Almost all fuel cards offer a surcharge waiver per month. Some specific co-branded fuel cards also provide additional benefits if you are their loyal customer. Some of the popular fuel credit cards are BPCL SBI Card Octane, IndianOil HDFC Credit Card, IndianOil Axis Bank Credit Card, etc.

What are the benefits?

Let’s take the example of the IndianOil Axis Bank Credit Card. This card gives around 4% returns on fuel spending as rewards. A 1% fuel surcharge waiver on fuel transactions between ₹200 and ₹5,000 is also provided. Additionally, the card also provides up to a 20% discount at partner restaurants. If we talk about IndianOil HDFC Credit Card, anyone with an income of at least ₹10,000 per month can get the card with an annual fee of ₹500. The card offers 5% returns on fuel spending. You can avail free fuel up to 50 litres by using fuel points.

How can you get these benefits?

To make full use of all the benefits, you must be a loyal customer to one credit card. The more frequently you use the card, the more rewards you get. Hence, sticking to one card will help you gain more points and you can save huge on fuel at the end of every year.