5 Best Credit Cards for Fuel in India ( 2023 )

Fuel is considered one of our essential expenditures, and whether a bike or a car is used for commuting, a significant amount of our expenses is incurred on fuel. This makes it even more important to explore avenues for saving money on fuel purchases. Fuel spends are typically excluded from rewards by regular credit cards. Therefore, the best approach is to utilize fuel credit cards for these purchases. Several co-branded credit cards are available for fuel purchases at IOCL, HPCL, and BPCL. However, which one is best suited for your expenditures is what we shall examine.

BPCL SBI Octane Credit Card

This card is excellent for both fuel and other expenditures. It can be used for petrol expenses up to Rs 10,000 in every billing cycle to reach the maximum cap of 25X rewards, which is generally more than adequate. Additionally, 10X Reward Points (equivalent to 2.5% Value) are earned on dining, departmental store, and grocery purchases. This is subject to a monthly cap of 7,500 Reward Points.

Joining and Annual Fee	Rs 1499+GST
Welcome Benefit	6000 Reward Points – Rs 1500 Value
Annual Fee Waiver	Spend Rs 2 Lakhs in a membership year
Rewards on Fuel Spends	25X Rewards – 6.25% Value – Capped at 2500 RP per billing cycle
Effective Reward Rate for Fuel	6.25% + 1% fuel surcharge waiver

For individuals who log significant miles and have a monthly fuel expenditure of Rs 10,000, this card stands out as the ultimate fuel credit option. Achieving the fee waiver by reaching the annual spend of 2 lakhs on fuel and the 10X Reward Points categories is quite manageable. What makes it even more appealing is the milestone Gift Voucher of Rs 2,000 awarded for annual spending of INR 3 lakhs. It’s hard to find a better deal than this.

BPCL SBI Credit Card

The maximum cap of 13X rewards can be reached by using this card for petrol expenses up to Rs 10,000 in every billing cycle. This card is the lower variant of the BPCL SBI Card Octane and is accompanied by lower rewards and annual fee waivers.

Joining and Annual Fee	Rs 499+GST
Welcome Benefit	2000 Reward Points – Rs 500 Value
Annual Fee Waiver	Spends Rs 50000 in a membership year
Rewards on Fuel Spends	13X Rewards – 3.25% Value – Capped at 1300 RP per billing cycle Per transaction limit for rewards is Rs 4000
Effective Reward Rate for Fuel	3.25% + 1% fuel surcharge waiver

HPCL Bank of Baroda ENERGIE Credit Card

The HPCL BoB ENERGIE, the newest addition to this list of best fuel credit cards, is noted for its effective fuel reward rate of 5% and a low annual fee spend waiver set at Rs 50,000. However, credit of bonus Reward Points for fuel transactions on this card has been reported as problematic by several users. Therefore, if you possess this card, it is advisable to have your statements checked.

Joining and Annual Fee	Rs 499+GST
Welcome Benefit	2000 RP on Rs 5000 spend within 60 days ~Rs 500 value
Annual Fee Waiver	Spends Rs 50000 in a membership year
Rewards on Fuel Spends	4% cashback – Capped at Rs 250 per month Extra 6 Payback Points (1.5% value) on using HP Pay
Effective Reward Rate for Fuel	4% Cashback + 1.5% HP Pay + 1% fuel surcharge waiver

IndianOil Axis Bank Credit Card

This is the one of the best IOCL co-branded credit card on this list. The rewards are good and are available for all IndianOil outlets.

Joining and Annual Fee	Rs 500+GST
Welcome Benefit	100% cashback up to Rs 250 on first fuel transaction within 30 days
Annual Fee Waiver	Spend Rs 50000 in a membership year
Rewards on Fuel Spends	4% Value (20 EDGE Rewards/Rs 100)
Effective Reward Rate for Fuel	4% Rewards + 1% fuel surcharge waiver

Indian Oil Kotak Credit Card

This is the one of the best IOCL co-branded credit card on this list. The rewards are good and are available for all Indian Oil outlets.

Joining and Annual Fee	Rs 449+GST
Welcome Benefit	1000 RP on spending Rs 500 within 30 days
Annual Fee Waiver	Spend Rs 50000 in a membership year
Rewards on Fuel Spends	4% Value (24 RP per Rs 150)
Effective Reward Rate for Fuel	4% Rewards + 1% fuel surcharge waiver