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Road trips can be a great way to rejuvenate while exploring new destinations, cuisines and much more. But are the rising costs of fuel keeping your road trip plans from actually hitting the road? A fuel credit card can be a great wallet companion in such cases. It not only provides multiple opportunities for you to save on fuel but also helps you enjoy a number of other benefits.
What is a Fuel Credit Card?
A fuel credit card is a credit card type that is specifically designed to help you save on fuel expenses. These cards help increase your savings every time you buy fuel using these cards via:
- Cashback
- Discounts
- Reward points
While cashback and discounts offer instant savings, you can redeem your reward points later and save substantially on your future purchases. Some fuel benefit credit card companies also waive the fuel surcharge which generally gets included in your bill, translating to more savings.
In India, banks offer fuel credit cards by partnering with companies like:
- Indian Oil
- Bharat Petroleum Corporation Limited (BPCL)
Top Benefits of a Fuel Credit Card
A fuel credit card comes with these benefits:
Fuel Surcharge Waiver
Generally, an additional fuel surcharge is added to your bill whenever you get your fuel refilled using a fuel credit card. Companies charge this extra fee to manage the processing costs of your transaction.
However, if you’re using a fuel credit card, this fee is usually waived off to a certain amount a month. This gives you a chance to save more. Some cards may only offer this waiver at partner fuel stations, so check the terms and conditions.
Reward Points
The selling point of a credit card is the rewards it offers, and this stands true for fuel credit cards as well. On every purchase you make, you earn reward points, along with additional perks like:
- Cashback
- Free fuel
- Travel rewards
- Gift vouchers
When looking for the best fuel credit card, understand the reward point system and go with the card that offers the most benefits.
Cashback on Fuel Refills
Another perk that comes with fuel credit cards is that they offer cashback on your fuel purchases. This means that you get a part of the amount you spent on the fuel purchase in your bank account. This way, you end up saving a portion of your spends on fuel.
Complimentary Covers & Added Benefits
Other attractive features of credit cards are the value-adds that they offer. These include:
- Roadside assistance
- Personal accident insurance
- Zero liability on lost cards
- Discounts at partner restaurants
- Discounts on hotel and flight bookings
- Shopping rewards
- Air miles
When used smartly, you can score big savings through your fuel credit card and enjoy protection when you need it most.
Wide Acceptance
Nowadays, most fuel stations in India accept fuel credit cards. Therefore, you don’t need to worry about whether you can use the card or not while travelling to different cities or states.
Additionally, these cards offer adequate safety of your funds along with providing a seamless way to manage your fuel purchases. They come with advanced security features such as:
- Chip technology
- Fraud protection
- Two-factor authentication
Tips to Maximise Your Savings with a Fuel Credit Card
To get the best value from your fuel credit card, follow these tips:
- Use your card consistently to accumulate more reward points and other benefits
- Keep an eye on limited-time offers, special deals, promotions and campaigns for more benefits
- Utilise your credit card reward points wisely by coupling them with special deals and offers
- Refill your fuel at fuel stations that have tie-ups with your bank for additional benefits
- Understand the reward system well to utilise the full potential of the credit card
- Pay your credit card bill in full every month to avoid interest charges and other liabilities
- Avoid refilling the fuel unnecessarily just to earn more reward points
Before finalising a card, consider these things associated with the card:
- Joining fees, annual renewal fees and other charges
- Ties with fuel stations all over the country
- Minimum and maximum spending requirements for reward points
- Interest rates and other terms of the credit card
- Additional benefits that the credit card offers
Using a fuel credit card smartly is a great way to save on fuel costs while managing your finances in a better way. You can do both with the One Credit Card. This premium metal credit card comes with no joining fees and no annual renewal fees, offers fuel surcharge waiver and cashback, and allows you to earn 5X rewards. You can explore its myriad benefits and even set budgets and plan trips on the powerful One Credit Card App. Apply now!
