Do you know what the second most popular usage of a credit card is? In India, it is fuel. With the surging fuel prices, more and more people are looking at savings options with fuel credit cards. I will be honest. In my case too, after online shopping and other stuff, I use my credit cards for fuel. In this article, I will show case seven best credit cards for fuel purchases in India.
Why credit cards for fuel purchases?
Good question. Here’s the thing. Imagine you are buying fuel for your car at a petrol station for Rs.1,000. Every month, if you do the same purchase, you will be spending about Rs.12,000 on fuel alone. Now without a credit card or paying by cash, there is no savings what so ever. Now image you buying all that fuel using a credit card. Most credit cards give at least a 2% cashback reward. So you get about Rs.240 in savings! Simple.
Now, luckily there are many dedicated fuel credit cards in India. They come in association with our fuel companies so they are safe to use. Some others come as co-branding initiatives from the banks. They have excellent reward schemes as well. Let’s see which are the best fuel credit cards in India today.
1. American Express Gold Card – 3% Cashback on fuel purchases
This is probably American Express’s most popular card – the Gold! Why is it popular? Because there are no credit limits. No, it does not mean you can buy endlessly, it just means that there is no preset amount and based on your purchasing patterns and credit worthiness, the limit is set. Plus, if you are looking for a credit card to put your fuel purchases on, then this card will give you a cool 3% cashback on all furl purchases at all leading fuel pumps in India.
Applying for this card is easy as well (Easy online application here). Just fill in your personal details and you should have a call from them soon to verify. Card should be your’s once approved pretty soon!
2. The American Express Payback Credit Card – 3% Cashback on fuel
This is AmEx’s most popular rewards card. Payback is a popular rewards loyalty program company and they have tied up with American Express in this offer. Under this offer, you get rewards on many outlets and stores like Big Bazaar, Flipkart etc. On top of that, you have 3% cashback on all fuel purchases at selected fuel stations and 2.5% cashback on all HPCL fuel stations. This is a nice deal for those who buy petrol at dedicated places. 3% is cool!
3. IndianOil Citi Platinum Card – Save 5% at IndianOil stations
The name is good enough a clue right? It’s a co-branding effort between Citi and IndianOil. It’s got a first year fee of Rs.1,000 and a 39% APR but you will get a cool 5% discount on all fuel purchases at any IndianOil stations. No questions asked. If you are a fan of IndianOil (did I just say that?), then this is a good card for you. Well, let me put it this way. If you frequent at IndianOil stations (may be because it’s close to your house or something?) for fuel purchases, this is a nice 5% discount you can get.
Have you been using any fuel credit cards so far? Which one’s do you like and which among the three above will you pick up?
Hi, Mani Karthik here. Having lived in USA, India & Middle East, and worked for big MNC’s to startups, I have a lot to share with you. My aim is to help people, by sharing everything I’ve learned in life, through this blog. It’s read today by more than 150K people world over! I currently live in LA, California and visit India occasionally. Here’s my full story on who I am and why I blog. Connect with me on Facebook, Instagram, Twitter or WhatsApp (+001-408-489-4785). Happy to help! 🙂