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3 Credit Cards for You if You Don't Want to Pay High Petrol and Diesel Prices

Credit Cards are one of the most popular financial products in India. Now, with the government of India pushing for digital payments as well as the boom in the e-commerce sector, their popularity is at an all-time high and banks are rolling out new Credit Cards. You can now Apply for a Credit Card online, and if eligible, you will receive Credit Card at your address in a matter of few days.

Not only do Credit Cards offer you the flexibility to pay without using cash, but you can also earn reward points for making payments through these cards, in turn reducing the actual amount spent. One of the most popular usages of Credit Cards in India is paying for fuel charges.

Credit Cards to Pay for Fuel Charges
In India, one of the most popular usages of Credit Cards is to pay for fuel charges at Petrol Pumps. Earlier there used to be a surcharge on paying for fuel through Credit Cards, but now all card issuers have waived off these charges, to encourage customers to make payment through Credit Card. This has been as per the initiative of the Indian Government to move towards a less-cash economy.
Credit Cards enable you to pay for your fuel bill without any additional charges and eliminate the need to carry cash with you all the time. You can also easily keep track of your fuel expenses through your card statement and claim it as an expense for tax benefits. Companies also offer reward points for paying fuel expenses through cards. As such, many banks are coming out with new Credit Cards with special rewards on fuel purchase payments.
Factors to consider while selecting a Credit Card for fuel purchase
If you are considering applying for a Credit Card especially for fuel purchase, you need to pay attention to the following factors:
·         Participating outlets: You must ensure that your card is acceptable at a large number of fuel stations, especially at ones which you frequent.
·         Fuel surcharge: Make sure that there is no fuel surcharge applicable on purchase of fuel through your Credit Card.
·         Annual Fees: Make sure that the annual fees on Credit Card are waived off or if not, then it should not be too high. Otherwise, there would be no benefit of opting for such a card.
·         Savings offered: The savings provided by the new Credit Card for fuel purchase should be significant.
·         Redemption of reward points: The reward points earned on fuel purchase as well as other purchases should be easily redeemable.
·         Interest-free period: Look at the interest-free period offered by your card. Make sure that there is a particular interest-free period to maximise the benefits of your card.

Top 3 Credit Cards for fuel purchase
At present, when there are so many Credit Cards out in the market, it is possible that you are confused regarding selecting the best one for you. Here we are listing out the 3 best Credit Cards in the market which offer maximum rewards on fuel purchase:

·         Indian Oil Citibank Platinum Credit Card
This card has been designed to offer you the maximum benefits on fuel purchase made through the card. You stand to save 5% on your total fuel purchase from Indian Oil Filling stations all over the country. Also, you receive 250 points as a joining bonus and enjoy fuel surcharge waiver of 1%. Some of the other benefits offered by this card are:

·         Every fuel purchase of Rs. 150 at Indian Oil outlets would get you 4 turbo points. These points can be redeemed for purchasing fuel.
·         If you spend more than Rs. 10,000 in one transaction, you get 4x turbo points on a spend of every Rs. 150 at Indian Oil outlets.
·         2x Turbo points on the purchase at supermarkets and 1x Turbo points on dining, shopping and other entertainment activities.

·         ICICI Bank HPCL Coral American Express Credit Card
This card offers you 5% cash on fuel purchase at HPCL outlets on a minimum purchase of Rs. 500. It also provides benefits of 2.5% on fuel purchase up to Rs. 4000 in a month. Some of the additional benefits offered by this card are:

·         6 PAYBACK points on every spend of Rs. 100.
·         2000 PAYBACK points can be used for a fuel purchase of Rs. 500.
·         Discount of Rs. 100 on the purchase of movie tickets through BookMyShow

·         IndusInd Platinum Aura Credit Card
This card offers you a waiver of 1% of fuel surcharge and you also get free services of Auto Assist, for roadside repair, fuel supply, and medical emergencies. Some of the other benefits of this card are:

·         You can earn up to 4 points on every spend of Rs 100
·         Travel rewards on purchase of air tickets and hotel bookings
·         Complimentary lounge access and travel insurance

Using your card for fuel purchase could be a rewarding experience, but you have to make sure that you pay your bills in time to save on the interest cost.
To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 60+ Banks and NBFCs. We have served 2 million+ happy customers since 1989.
Talk to our Loan Specialists toll-free at 1800 103 4004 to know more about our products and offers.

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