Many direct and indirect factors influence fuel prices, like fluctuation in crude oil prices, the performance of rupee, global trade wars and more. Post the last phase of polling for the Lok Sabha elections, prices of both petrol and diesel have been increased in most cities of the country. In fact, experts believe that this is the beginning of an upward trend in fuel prices. If these prices have you worried, remember that you can use your credit card at petrol pumps to reduce your fuel bills.
Wondering how you can use your credit card at a petrol pump to bring down the cost? The answer to this question is simple: get a petrol card that offers additional benefits on fuel spends, be it through cashback, fuel surcharge waiver or higher reward points. Since you can redeem these reward points to pay for fuel in the future, you can save a tidy sum, especially if you use your vehicle regularly.
However, when choosing the best petrol pump credit card, look for the following attributes to accelerate savings.
Additional read: Credit card benefits for travellers
Petrol card issuers charge significant annual fees for the benefits that they offer. However, you can enjoy a waiver on spending a minimum amount through your credit card during the year. Therefore, when comparing petrol cards, look for ones that have a lower minimum spend requirement.
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Fuel surcharge waiver
Each time you use a petrol card to pay for fuel, you have to pay a surcharge. However, to encourage transactions using a petrol card, issuers waive off these fees. Typically, the fuel surcharge is around 1% to 3% of the transaction amount, so each time you pay for fuel using the card, you can save this amount. Remember that this is capped at a certain amount per month, and you can’t claim a waiver beyond the set limit.
Covered fuel stations
In order to offer petrol card benefits like fuel surcharge waiver and reward points, issuers collaborate with many fuel companies. So, each time you refill your fuel tank at a partner fuel station, you can earn rewards per your issuer’s terms and conditions. To enjoy maximum benefits, apply for a petrol card that allows you to continue fueling up at the stations you frequently visit.
Additional read: Ways a credit card can help you save on fuel costs
Redemption of reward points
Additionally, ensure that your issuer allows you to pay for fuel in the future via accumulated reward points. This way, you will be able to maximise savings on fuel.
Apart from these perks, look for other features and benefits to boost savings and convenience. For instance, pick the Bajaj Finserv RBL Bank SuperCard for a feature-rich experience. Get up to 20,000 reward points as a welcome gift and save up to Rs. 55,000 annually. Moreover, this card charges you a nominal interest rate of 1.16% on emergency loans for up to 90 days and offers interest-free ATM withdrawals for up to 50 days. So, wait no more and check your credit card offer to use tailor-made deals for instant access to a credit card.
Additional read: National Common Mobility Card
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