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How to find the best credit card for fuel to maximise savings?

  • Highlights

  • Save big on fuel by using credit cards at petrol pumps

  • Enjoy fuel surcharge waiver with the SuperCard

  • Use a SuperCard to access other perks too

  • Use a pre-approved offer to apply for a SuperCard

On 20 May 2019, major Indian cities witnessed a rise in fuel prices. While petrol prices were hiked by 8 to 10 paise per litre, diesel prices shot up by 15 to 16 paise. For instance, petrol prices increased from Rs.76.64 to Rs.76.73 per litre in Mumbai, and from Rs.71.03 to Rs.71.12 in New Delhi. Similarly, diesel prices for a litre stood at Rs.69.27 in Mumbai and Rs.66.11 in Delhi.

Further, the Short-term Energy Outlook released by the U.S. Energy Information Administration states that the average worldwide crude oil prices will be $70 a barrel in 2019, which is $5 higher than what the EIA had forecasted last month. Despite such high prices, as a vehicle owner, not a day goes by when you don’t use fuel. While you have no control over the fuel prices, you can do your best to safeguard your finances by availing the best credit card for fuel that offers you a range of other benefits too. If you are wondering ‘How do I get a fuel card?’ or ‘Which card is best for fuel?’, here’s all you need to know.

Additional Read: Tips to Get the Most out of Your Credit Card

Compare various issuers and their offerings

Fuel credit cards are beneficial if you commute using your own vehicle every day. All fuel cards offer a waiver on fuel surcharge and/or reward points that help you save big on fuel bills. This is because once you accumulate reward points, you can use them to pay for fuel in the future, thereby lowering your out-of-pocket expenses.

To maximise savings using a fuel card, watch out for the associated annual fees. Some issuers waive off annual charges if you spend a minimum amount using your card during the first year. Additionally, when choosing a credit card, look for features and benefits that will help you save on other expenses too.

A Bajaj Finserv RBL Bank SuperCard, for instance, is a feature-packed card that gives you up to 20,000 welcome points that you can redeem in exchange for a variety of products and services. Further, you can also make interest-free ATM withdrawals or avail interest-free emergency loans basis your available credit limit. Also, you can convert purchases of above Rs.3,000 into easy EMIs. All in all, the SuperCard helps you save around Rs.55,000 in a year and offers reward points on every transaction!

Shopping online made easy with the SuperCard

Apply with issuers that have tie-ups with petrol stations

In order to offer fuel surcharge waivers and reward points, issuers of the best credit cards for fuel have tie-ups with various companies. So, make sure that you get a fuel card that you can use at all or almost all fuel stations. Further, confirm that your credit card lets you redeem the reward points by paying for fuel.

Additional Read: How to use a Credit Card wisely

Have a good credit score to get your chosen fuel card

When approving your credit card application, issuers look at your credit score and history to gauge your creditworthiness and repayment behaviour. To get access to the best credit card, build and maintain a high credit score of 750 and above, which implies that you are likely to pay your bills on time. With a stellar score you can apply for credit card of your choice and the issuer will comfortably approve your application. Additionally, in the future, getting access to a higher credit limit will also be easier.

Once you’ve decided to apply for the Bajaj Finserv RBL Bank SuperCard for its myriad benefits, check your pre-approved offer first to view customised deals. Apply using a deal of your choice for added speed and convenience.

Pre-Approved Offer

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