There are generic fuel credit cards and co-branded fuel credit cards available in the market. You need to select the right fuel credit card in order to maximize its benefits. For instance, if you purchase fuel every time from the HPCL petrol pump then having a fuel credit card in association with BPCL won’t help you in saving the cost on the fuel transactions. Analyse your needs and spending habits then apply for the right fuel credit card. Keep reading to know more about the fuel credit cards.
What are fuel credit cards?
A fuel credit card lets you earn reward points every time you swipe your fuel credit card at a fuel station. The earned reward points can be further used to purchase fuel. This way you save a lot on the fuel transactions. You can not only use the reward points to buy fuel but for other categories as well.
The fuel credit cards let you earn reward points on other spending categories as well. You can apply for fuel credit cards online as well as offline. Some of the popular credit cards are BPCL SBI Card Octane, ICICI Bank HPCL Super Saver Credit Card, Indian Oil Axis Bank Credit Card, Standard Chartered Super Value Titanium Credit Card, etc.
What are the benefits of a fuel credit card?
With a fuel credit card, you not only enjoy the fuel benefits but other benefits as well. While earning rewards on fuel transactions you also get a fuel surcharge waiver. The earned rewards can be used apart from fuel purchases like shopping, booking hotel/flights, DTH services, etc. You get to build a credit score with these credit cards as well. You also get to enjoy other benefits like complimentary travel benefits, lifestyle benefits, entertainment benefits, and so on.
How do fuel credit cards work?
Like any other credit card, fuel credit cards also work the same. You use the credit card to make purchases and you earn reward points in return. You need to be aware of the rewards program of your credit card because not all credit cards let you earn reward points on all spending categories. Use your fuel credit card for those transactions that only let you earn reward points as it will help you in maximizing the benefits.
Bottom Line:
To answer the question “are fuel credit cards worth it”, yes they are if you want to save the cost on the fuel transactions. Since the fuel prices are rising day by day, a fuel credit card can help you in cutting down the cost on it, as you get to earn reward points and a fuel surcharge waiver as well. Moreover, fuel credit cards not only help you with the fuel transactions but also let you enjoy other benefits.
Do share your experience with the fuel credit cards in the comment section.
Additional Reading - How Fuel Credit Card Can Help You Save On Fuel Costs