Most of the credit cards are not useful for fuel expenses. Depending on the card, fuel transactions may not be eligible for rewards, while others may be subject to a surcharge. There are a few fuel credit cards that provide us with good savings on fuel expenses. If you use Bharat Petroleum fuel pumps for your vehicles, the BPCL SBI credit card is one of the best options for you. With the BPCL SBI credit card, you can get 3.25% back on fuel purchases, and 1.25% back on department store and grocery purchases. Furthermore, it waives a 1% fuel surcharge so we don’t have to pay extra at the pump if we use a credit card.
Fees and Charges
Unlike other issuers, SBI Card always charges a joining fee for credit cards. But, this is offset by the welcome gift. The annual fee waiver is relatively less at Rs 50000 spends for the rewards it provides.
| Joining/Renewal Fee | Rs 499+GST |
| Welcome Gift | 2000 Reward Points ~Rs 500 Value |
| Annual Fee | Rs 499+GST |
| Annual Fee Waiver | On spends of Rs 50000 in a membership year |
| Renewal Benefit | None |
Rewards
| Type of Spend | Reward Points | Return Rate @25 per RP |
|---|---|---|
| BPCL Fuel, Lubricants & Bharat Gas Spends | 13 RP / Rs 100 *Maximum 1300 RP per billing cycle * Max transaction value for rewards: Rs 4000 | 3.25% |
| Dining, Departmental Stores, Grocery & Movies | 5 RP / Rs 100 *Maximum 5000 RP per month | 1.25% |
| Other spends (Except Non-BPCL Fuel and Wallets) | 1 RP / Rs 100 | 0.25% |
It will take Rs 10000 in fuel transactions to reach the maximum cap of accelerated fuel rewards. In most cases, this should be sufficient. And yes, you can also hit the spends required for annual fee waiver by just using the card for fuel.
Rewards Redemption
Each reward point is worth 25p. We can redeem the reward points for either fuel or from the reward catalog. Fuel makes more sense as it is instant redemption at the listed outlets.
- PoS redemption is supported at outlets listed here.
- E-Voucher redemption is supported at outlets listed here.
No Complimentary Airport Lounge Access on the BPCL SBI Credit Card
- Domestic Airport Lounge Access: Not Available
- International Airport Lounge Access: Not Available
Key Benefits and Charges
- Fuel Surcharge Waiver: 1% waiver on fuel transactions up to Rs 4000. Maximum surcharge waiver of Rs 100 in a statement cycle.
- Rent Payment Charges: Rs 199+GST for each transaction
- Foreign Currency Markup: 3.5%+GST ~4.13%
- Interest Rate: 3.5% per month or 42% annually
Pros and Cons of BPCL SBI Credit Card
Pros
- 3.25% rewards on fuel and BPCL spends is good
- 1.25% rewards on Dining, Departmental Stores and Grocery spends allows using the card for general spends
- Extensive list of supported BPCL outlets for reward redemption
- Annual fee waiver spend criteria on the lower side
Cons
- 0.25% return on other spends limits using the card as a ‘daily driver’
Should you get the BPCL SBI Credit Card?
Fuel credit cards are generally not a good fit as they offer good rewards only for fuel transactions. Plus in most cases, the reward rates are not good with lesser caps. BPCL SBI Credit Card addresses these limitations to a large extent. Consider this card if:
- Monthly spends on fuel spends are around Rs 4500. This will also waive off the annual fee.
- You are able to spend the required amounts for a fee waiver, spend milestones on the other credit cards you hold
- Last but obvious one – There is a BPCL outlet nearby to use this card
If your monthly spends on fuel are around Rs 10000, also check out the higher variant of this card – BPCL SBI Credit Card OCTANE. If you are looking out for a fuel credit card, do check out this post on the best fuel credit cards in India.
BPCL SBI Credit Card
2 thoughts on “BPCL SBI Credit Card”
Hi
Are accelerated points limited to Company Owned/Operated BPCL pumps in India? Or All BPCL pumps
All BPCL fuel pumps