Best Credit Cards Offering Fuel Surcharge Waiver in 2024: How to Use
Considering the inflation in fuel rates, using fuel surcharge waiver credit cards can be a smart choice. These cards can provide you with numerous perks specially designed for fuel expenses.
They can enhance your travel experience while helping you save money.
However, it is crucial to compare other factors while selecting a credit card to cut down fuel costs. Only then can you make a decision confidently and apply for one that suits your needs.
Understanding Fuel Surcharge Waiver Credit Cards
These credit cards work like traditional cards, with which you can pay for fuel and enjoy discounts, cashback and reward points. You can get cards with decent fuel benefits from a wide range of financial institutions.
Some issuers collaborate with fuel companies to give heightened cashback or rewards. You can choose a fuel card according to your spending style. This way you can enjoy more offers and rewards on your credit card, making the most out of it.
Some of the Best Fuel Credit Cards
Refer to the table given below to know some credit cards you can get for excellent fuel benefits:
| Credit Card | Joining and Annual Fees | Perks |
| Indian Oil Axis Bank Credit Card | Joining Fee: ₹500Annual Fee: ₹500(second year onwards) | Get a 1% fuel surcharge waiver (above fuel purchases above ₹400)Earn 20 reward points on spending ₹100 at IOCL fuel outletsGet a welcome bonus of 1250 EDGE reward points on the first fuel purchase |
| HDFC Bharat Credit Card | Joining Fee: ₹500Annual Fee: ₹500 (second year onwards) | Get a 1% fuel waiver surcharge up to ₹250 a monthEarn 5% cashback per month on fuel spending |
| TATA STAR Titanium Credit Card | Joining Fee: ₹499 Annual Fee: ₹499 (second year onwards) | Get 1% fuel waiver surcharge on spending between ₹500 to ₹3,000 up to ₹100 a month |
| OneCard Credit Card | Joining Fee: NILAnnual Fee: NIL | Enjoy a 1% fuel surcharge waiverGet a flat valueback of 2% on fuel purchases at IOCL, Shell, HPCL or BPCL stations |
Disclaimer: The above-mentioned fees and features are subject to change as per the issuer. Check the latest fuel offers before you apply.
Features and Benefits of a Fuel Credit Card
Depending on the issuer and its promotions with partners, you can enjoy a bunch of benefits while using a fuel credit card. For example, some fuel credit cards offer dining discounts at partner restaurants and hotels. Read on for an overview of other benefits you can enjoy.
Fuel Surcharge Waiver: When you purchase fuel with a credit card, issuers apply a surcharge to cover the processing charges for the transaction. Thankfully, these credit cards come with fuel surcharge waivers. This can help avoid extra charges on fuel expenses.
Cashback: Many issuers offer a cashback on the fuel expenses. This is typically a percentage of the total amount of the expenses you’ve paid through your card. Remember, you may get these benefits only after reaching a minimum spending threshold.
Rewards: Many issuers have reward point provisions for fuel credit cards. You can earn reward points for spending a certain amount at fuel stations. These points can be redeemed for vouchers, cashback, merchandise, and much more. You can also utilise the points for electricity bill payments, water bill payments, rent payments, etc.
Points to Keep in Mind While Getting Fuel Credit Cards
While there are several benefits to using a fuel credit card, it is essential to consider these points:
- Consider the related charges to do a better assessment and ensure the benefits outweigh your out-of-pocket fees.
- Check the credit card points redemption process, the redemption fees and how easily you can redeem the reward points.
- Analyse your fuel spending first to get a better view if you want to get this specific credit card.
- Get a clear picture of interest rates and other hidden charges and compare it with other credit cards.
How to Apply for a Fuel Credit Card
To apply for such a credit card, you can follow these steps:
- Step 1: Visit your credit card issuer’s official website or access its mobile app
- Step 2: Select the suitable credit card option
- Step 3: Fill out the application form with the necessary details
- Step 4: Attach all the required documents
- Step 5: Submit the application form
Follow the same process for the offline method as well.
If you have considerable fuel expenses at the end of the month, these credit cards can prove to be a boon for your budget. You can also select a credit card with no annual and joining fees for add-on benefits. The One Credit Card can be a game changer if you’re looking for a credit card with fuel-related benefits.
It is a lifetime free credit card with zero annual and joining fees. This premium metal card lets you earn 5X rewards on your top two spending categories each month, be it fuel, dining or travel. What’s more, you can enjoy lucrative offers on electronics, fashion, food delivery and more. Using the One Credit Card App, which is built on full-stack technology, you can conveniently check offers near you with GPS. Apply now and get started.
