Fuel credit cards are specially designed to help you earn rewards each time you refill your vehicles. With the increased rates of fuel, getting petrol credit cards can prove to be beneficial. You can use the cashback that you earn for other purposes like grocery shopping, travel expenditures, etc.

Usually, credit card issuers offer these cards in collaboration with oil companies. Consider your spending preferences to choose a card that best aligns with your requirements. Having a basic knowledge will help you in this process.

What is a Fuel Credit Card?

Banks issue fuel credit cards so that you can get the maximum benefits in exchange for fuel purchases. You should choose a card according to your fuel expenses. For instance, if you commute regularly to your workplace in a vehicle, getting this card is advantageous. 

Likewise, if you don’t use your vehicle frequently, you can choose a card with a minimum reward system on fuel purchases. That will attract more offers and rewards, making the most out of it.

Simply put, fuel credit cards are specialised credit cards designed to help consumers save on fuel expenses. These cards are typically issued by banks in collaboration with fuel companies, providing various benefits when used for refuelling at partner outlets.

How Does a Fuel Card Work

Fuel credit cards offer cashback, discounts, or reward points specifically on fuel purchases, often ranging from 2 – 7% or more. For instance, the One Credit Card offers a flat 2%* value back on fuel purchases.

Fuel credit cards often waive the fuel surcharge, which is a fee typically added when using credit cards for fuel transactions. This can lead to significant savings over time.

Getting a fuel surcharge waiver means there’s no need to pay the additional cost on fuel purchases. The credit card issuer manages this additional cost, helping you save money on fuel transactions.

How To Apply for One

Applying for a fuel credit card is a straightforward process that can typically be completed online or in person. Here’s a step-by-step guide:

• Review the eligibility criteria for the specific fuel credit card you are interested in. Some of the common requirements include minimum age, income level, and credit score.
• Keep the required documents, such as your ID proof, address proof, and income proof, along with your latest passport-size photos
• Visit the issuer’s website or its nearest branch and select a card that best aligns with your needs
• Complete the application form, submit the documents and wait for approval
• Once the issuer approves your application, you will get the card to your registered address within a few days

How to Maximise Benefits on Fuel Credit Cards

Apart from lowering the fuel expenses, you can certainly enjoy a lot of benefits. These rewards may vary from one card provider to another.

1. Earning Cashback: You can get cashback on every fuel transaction if you meet the issuer’s minimum amount criterion. It is directly credited to the cardholder’s account.
2. Restaurant Discounts: Many banks provide significant discounts to their customers at select restaurants within the country.
3. Waiving the Annual Charges: Many financial institutions waive off your annual charges if you meet the expected transaction amount. They can also increase the card limit.
4. Getting Rewards: You can earn reward points and gift vouchers with these cards. You can redeem these points in stores and websites.
5. Bill Payments: You can use the vouchers and reward points to pay bills like telephone bills, electricity bills, water bills, etc.

How To Choose a Suitable Fuel Credit Card

Choosing a suitable petrol credit card requires careful consideration of various factors to ensure it aligns with your spending habits and financial goals. Here are key steps to help you select the right fuel credit card:

• Compare rewards and discounts
• Consider the fuel network so that you can use the card across different fuel outlets
• Look for cards offering additional perks other than fuel rewards
• Review the card’s fee and associated charges, including annual and joining fees, along with other hidden charges
• Ensure the redemption process is simple and straightforward
• Read the terms and conditions of the card issuer before you apply for a new card

Using a fuel card can maximise your benefits every time you refuel your vehicle. If you are looking for instant approval on a credit card with maximum benefits, consider the One Credit Card . Along with fuel, you get to save with offers on dining, entertainment, shopping, and travel.

Get it now to enjoy 5X rewards on your top 2 spending categories each month. Check your transactions and easily manage your finances on the powerful One Credit Card App. You can get this premium metal card and swipe it like a pro by completing a seamless online process. Apply now to enjoy the offers near you.