The cost of fuel is a significant part of our expenses, regardless of whether we commute by bike or by credit card. As a result, it is all the more important to find ways to save money on fuel purchases. It is common for credit cards to exclude fuel purchases from rewards. Therefore, fuel credit cards are the best option for these purchases. There are many co-branded credit cards available for IOCL, HPCL, and BPCL fuel purchases. However, which credit card is best for fuel spending? Here are the best credit cards for fuel in India.
Best Credit Cards for Fuel: Indian Oil
IndianOil Axis Bank Credit Card
IOCL Axis credit card is an easy to get option for fuel spends. We get 4% value back on fuel spends as EDGE reward points. These EDGE reward points can be redeemed for Amazon Pay GVs which is as good as cashback. This card is good for fuel spends of up to Rs 5000 in a month. Axis Bank runs LTF offers for this card from time to time. So, you can wait and get it during one of those offers.
- Joining Fee: Rs 500+GST
- Annual Fee: Rs 500+GST
- Annual Fee Waiver: On Rs 50000 spend
- Reward Rate on Fuel: 4%
- Best for Fuel Spends: Till Rs 5000 per calendar month
- Fuel Surcharge Waiver: 1% up to Rs 50 per statement cycle
- Domestic Airport Lounge Access: None
Indian Oil Kotak Credit Card
The IOCK Kotak credit card is better than the Axis one for rewards and also has a lower annual fee. The only challenge is getting a Kotak credit card is little more difficult than getting an Axis card.
- Joining Fee: Rs 449+GST
- Annual Fee: Rs 449+GST
- Annual Fee Waiver: On Rs 50,000 spend
- Reward Rate on Fuel: 4%
- Best for Fuel Spends: Till Rs 7500 per statement cycle
- Fuel Surcharge Waiver: 1% up to Rs 100 per statement cycle
- Domestic Airport Lounge Access: None
Best Credit Cards for Fuel: BPCL
BPCL SBI Credit Card OCTANE
BPCL SBI Credit Card OCTANE is a great card for BPCL fuel and other BPCL expenses. We can use it for fuel expenses up to Rs 10000 in every billing cycle to hit the max cap of 25X rewards. This is more than sufficient in most cases. We also get 10X RP (2.5% Value) on Dining, Departmental Stores, and Grocery spending. This is capped at 7500 RP per month.
- Joining Fee: Rs 1499+GST
- Annual Fee: Rs 1499+GST
- Annual Fee Waiver: On Rs 2 Lakh spend
- Reward Rate on Fuel: 6.25%
- Best for Fuel Spends: Till Rs 10,000 per statement cycle
- Fuel Surcharge Waiver: 1% up to Rs 100 per statement cycle
- Domestic Airport Lounge Access: 4 complimentary visits per year
BPCL SBI Credit Card
We can use this card for petrol expenses up to Rs 10000 in every billing cycle to hit the max cap of 13X rewards. This card is the lower variant of the BPCL SBI Card Octane and comes with lower rewards/annual fee waivers. Check out the full review.
- Joining Fee: Rs 499+GST
- Annual Fee: Rs 499+GST
- Annual Fee Waiver: On Rs 50000 spend
- Reward Rate on Fuel: 3.25%
- Best for Fuel Spends: Till Rs 10,000 per statement cycle
- Fuel Surcharge Waiver: 1% up to Rs 100 per statement cycle
- Domestic Airport Lounge Access: None
Best Credit Cards for Fuel: HPCL
HPCL Bank of Baroda ENERGIE Credit Card
The HPCL BoB ENERGIE is the newest entrant in this list of best fuel credit cards. The card has an effective fuel reward rate of 5% and a low annual fee spend waiver at Rs 50000. But, many users have reported issues with credit of bonus RP for fuel transactions on this card. So, do check your statements if you have this card.
- Joining Fee: Rs 499+GST
- Annual Fee: Rs 499+GST
- Annual Fee Waiver: On Rs 50000 spend
- Reward Rate on Fuel: 4%
- Best for Fuel Spends: Till Rs 6800 per statement cycle
- Fuel Surcharge Waiver: 1% up to Rs 100 per statement cycle
- Domestic Airport Lounge Access: 1 complimentary visit per quarter
IDFC First Bank HPCL Power Rupay Select Credit Card
This HPCL co-branded fuel credit card is one of the first Rupay credit cards from IDFC First Bank. It is an entry-level card on the Rupay Select platform and offers 2.5% return on utilities, groceries and fuel spends.
- Joining Fee: Rs 199+GST
- Annual Fee: Rs 199+GST
- Annual Fee Waiver: On Rs 50000 spend
- Reward Rate on Fuel: 2.5%
- Best for Fuel Spends: Till Rs 5000 per statement cycle
- Fuel Surcharge Waiver: 1% up to Rs 100 per statement cycle
- Domestic Airport Lounge Access: None
IDFC First Bank HPCL Power+ Rupay Select Credit Card
The Power+ is a higher variant of the Power credit card from above and offers higher return on fuel spends. It is one of the best fuel credit cards for HP fuel pumps with 4% return on fuel spends. It also offers 5% return on utilities and groceries.
- Joining Fee: Rs 499+GST
- Annual Fee: Rs 499+GST
- Annual Fee Waiver: On Rs 1.5 Lakh spend
- Reward Rate on Fuel: 4%
- Best for Fuel Spends: Till Rs 10,000 per statement cycle
- Fuel Surcharge Waiver: 1% up to Rs 200 per statement cycle
- Domestic Airport Lounge Access: 1/calendar quarter
American Express Gold Charge Card
Amex Gold Charge is another good option for HPCL fuel pumps. This also does not have any convenience fee for HPCL fuel pump transactions of less than Rs 5000 value.
- Joining Fee: Rs 1000+GST
- Annual Fee: Rs 4500+GST
- Annual Fee Waiver: None
- Reward Rate on Fuel: 7% and above for 1000 X 6 transactions
- Fuel Surcharge Waiver: No surcharge at HPCL fuel pumps for transactions less than Rs 5000
- Domestic Airport Lounge Access: None
American Express Membership Rewards Credit Card
Amex MRCC is not a fuel credit card but is still one of the best options especially for HPCL fuel pumps. It does not have any convenience fee for HPCL fuel pump transactions of less than Rs 5000 value. You can maximize the card as mentioned in the review linked below to get a pretty good reward rate on fuel and other spends.
- Joining Fee: Zero with referral
- Annual Fee: Rs 1000+GST
- Annual Fee Waiver: On Rs 1.5 Lakh spend
- Reward Rate on Fuel: 5% and above
- Fuel Surcharge Waiver: No surcharge at HPCL fuel pumps for transactions less than Rs 5000
- Domestic Airport Lounge Access: None
Best Credit Cards for Fuel: Any Fuel Pump
Standard Chartered Super Value Titanium Credit Card
- Joining Fee: Rs 750+GST
- Annual Fee: Rs 750+GST
- Annual Fee Waiver: On Rs 90,000 spend
- Reward Rate on Fuel: 4%
- Best for Fuel Spends: Till Rs 5000 per month
- Fuel Surcharge Waiver: 1%
- Domestic Airport Lounge Access: None
Final Thoughts
Before applying for a fuel credit card in the above list, we need to consider a few points. First, we should be able to meet annual spending targets if any on existing credit cards. For example, if you have the DCB, then get a fuel card only if you are able to spend above Rs 5 Lakhs every year.
Next is identifying which fuel outlet brand is the convenient one for you. HPCL, BPCL, or IOCL – take your pick. The preference should be a fuel pump close to your residence. So, if you live near a IOCL fuel pump then check the best credit cards for fuel at IOCL.
Our picks in this list would be BPCL SBI Octane and Indian Oil Kotak credit cards. Both offer good rewards on fuel and have an easy annual fee waiver. The BPCL SBI Octane credit card offers good rewards on other spending as well.
11 thoughts on “10+ Best Credit Cards for Fuel: IOCL, BPCL and HPCL”
What about using Tata Neu Infinity by scanning UPI codes at the petrol pump? I am assuming that will earn 1.5% Neu coins. Has anyone tried it?
No rewards on fuel with Tata Neu cards.
We get reward points on Magnus fuel spends if they are over Rs 4,000 in a single bill. While the surcharge also gets counted.
Do these spend get counted in monthly milestone if we are getting rewards?
Yes, they do
Is ICICI HPCL super saver card better or IDFC Power+
IDFC First Power+ is better
Hello,
Is it true that the Axis Bank IOCL credit card gives reward points only when swiped with the Axis swiping machine? Please let me know. I am confused on which fuel credit card should I apply. Citi or Axis?
No, EDGE RP are for given for all PoS swipes at IOCL outlets.
Which card will be the most beneficial for someone who needs 20k+ fuel every month?
What should be the strategy to maximize rewards on the fuel spends?
Magnus would be a good bet for now if you can spend Rs 1L/month.