Every bank has a bouquet of Credit Cards offering a lot of benefits to its customers. Most of these credit cards also claim to offer 2.5% Fuel Surcharge waiver on Fuel Payments but the real fact of the matter is that they first levy 2.5% Surcharge and then they waive off this 2.5% Fuel Surcharge.
Many customer fall into this trap by the Credit Card issuing banks and opt for Credit Cards for fuel benefits. The customer while applying for the credit card should check whether the cashback on fuel is over and above the fuel surcharge waiver or not.
The customer will benefit only if the Cash back is over and above the 2.5% Fuel Surcharge waiver. I did a research of all the credit cards being issued by the major banks in India and found only 3 banks in India which are offering cash back on Fuel.
The 3 credit cards which offer cash back on fuel are as follows:-
- Standard Chartered Super Value Titanium Credit Card
- ICICI Coral HP Credit Card
- American Express Platinum Credit Card
Instead of direct cashback, most banks offer Reward Points and Surcharge waiver on Fuel Payments. Cashback is always better than Reward Points because Reward Points are never equivalent to Cash.
Most Banks follow the policy of 1 Reward Point = 0.25 Paise. As 1 Reward point is not equal to Rs. 1, the customers should always look for credit cards which offer direct cashbacks.
Credit Cards in India which offer Cashback on Fuel
The main offerings of the credit cards which offer cashback on Fuel are mentioned below. These credit cards have been mentioned in the order of the benefits offered by them i.e. the credit card with most benefits on Fuel has been mentioned in the beginning itself.
1. Standard Chartered Super Value Titanium Credit Card
Here are some of the salient features of the Standard Chartered Credit Card
- 5% Cashback for all Fuel Spends (on all Fuel Outlets ie BPCL, HPCL, IOC)
- 5% Cashback for all Phone Bills
- 5% Cashback for all Utility Bill Payments
- Get 20% cashback on Uber Rides.
As Standard Chartered gives 5% Cashback not only on Fuel Spends but also for Phone Bill spends as well as on payment of Utility Bill Payments – this Card offers the most benefits to its users and is therefore the most preferred credit card.
It also offers 20% Cashback every month on Uber Rides which again is a unique offering which the youth will like a lot. Moreover, the maximum limit for the cashback that can be claimed has been capped at Rs. 7200 which again is very high and is good for the customers.
By offering cashbacks on Fuel as well as Uber bookings, this card has become the personal favourite of both vehicle owners as well as cab users.
The benefits offered by this credit card are so high that even if people already have a credit card, they are still applying for this credit card as no other credit card offers so many benefits.
We would give it the Number 1 rating as this is the most preferred credit card. To read more about the features of this credit card or to apply online for this credit card which will help you save a lot of money, kindly refer the following link:-
2. ICICI Coral Credit Card – 2.5% CashBack at HPCL
Here is a snapshot of the features offered by ICICI HP Coral Credit Card
- 2.5% Cashback on Fuel
- 2.5% Fuel Surcharge waiver
- Earn 6 Payback Points on every Rs. 100 spent at HPCL outlets
- Earn 2 Payback Points on every Rs. 100 spent at any other retail outlet.
- Get 2 Complimentary Lounge access to Airport Lounges in India per quarter
- Enjoy 15% savings on your Dining Bill with ICICI Bank Culinary Treats Program
- 200 off every month of Movie Tickets booked on bookmyshow
Apart from the above mentioned benefits, this credit card also offers a unique advantage of claiming reward points directly at several merchant outlets as compared to other credit cards wherein you first have to apply for a gift voucher.
These reward points can be directly claimed at several merchant outlets like HPCL Petrol Pumps, Bookmyshow etc.
I was earlier a very active user of this credit card and was using this as my primary credit card. But with Standard Chartered Credit Card offering so many advantages – I have now made ICICI Credit Card as my secondary option and the above mentioned Standard Chartered Super Value Titanium Credit Card as my primary option which I prefer to swipe while making payments.
3. American Express Platinum Credit Card – 3% Cashback at HPCL
- 3% Cashback on Fuel Payments
- Fuel Surcharge waiver only at HPCL
- Enjoy 4 complimentary visits per year to 31 airport lounges at major airports in India
- Enjoy complimentary membership to the Priority Pass
- Spend Rs. 1.9 Lakhs in an year and get Indigo vouchers worth more than Rs. 7,700
- Spend Rs. 4 Lakhs in a year and get Indigo vouchers worth Rs. 11,800. Also get voucher worth Rs. 10,000 from the Taj group.
Although this Credit Card offers 3% Cashback on IOC, BPCL and Shell Petrol Pumps as well – but they also levy 2.5% Fuel Surcharge which is not waived off. And therefore, the net benefit is only 0.5% for fuel payments done at IOC, BPCL and Shell.
- Only the Credit Cards which offer direct Cashback and not Reward Points are considered. Almost all Cards give Reward points which can be encashed for Fuel vouchers. As 1 Reward Point is not always equal to Rs. 1, therefore we have not considered credit cards which dont offer direct cashback.
- Credit Card offers keep changing from time to time and the user is requested to recheck with the card issuing company about all these offers.
- Some of the above mentioned credit cards may also require you to spend a minimum amount every year.
- In some cities, Paytm also offers cashback on fuel payments but it is valid only at very few outlets and the cashback offered is also not much.