IDFC First Bank has launched its first fuel credit cards in partnership with HPCL – Power and Power+. IDFC First Bank HPCL Power credit card is the lower variant of these and is issued on the RuPay Select payment network. It is an entry-level fuel credit card and comes with a joining & annual fee of Rs 199+GST. IDFC First Bank HPCL Power credit card offers 2.5% value back on HPCL fuel spends, utilities and grocery spends. We also get some good benefits like complimentary RSA.
Eligibility
- Age: 21 years and above
- Annual Income: Above 3 Lakh/annum
You can apply for the IDFC First Bank HPCL Power+ credit card even if you hold another IDFC First credit card like Wealth/Classis/Millennia/Select. Your credit limit will be shared with the existing IDFC First credit cards.
Fees
| Joining Fee | Rs 199+GST |
| Welcome Benefit | Rs 250 cashback on 1st HPCL fuel transaction of Rs 250 and above |
| Annual Fee | Rs 199+GST |
| Annual Fee Waiver | Rs 50,000 spend in an anniversary year |
IDFC First Bank HPCL Power Credit Card Rewards
| Spend Category | Rewards | Maximum Spends Cap |
|---|---|---|
| HPCL Fuel | 21 RP/Rs 150 ~3.5% Return | Rs 5000 spend/statement cycle |
| Utilities and Groceries | 15 RP/Rs 150 ~2.5% Return | Rs 4000 spend/statement cycle |
| IDFC FASTag | 15 RP/Rs 150 ~2.5% Return | Rs 2000 spend/statement cycle |
| All Other Spends | 2 RP/Rs 150 ~0.3% Return | |
| Non HPCL Fuel, Insurance, EMI Transactions | No Rewards |
- 6 Happy Coins/Rs 100 (1.5% cashback) on using HP Pay. A maximum of 600 Happy Coins can be earned per month, meaning we can earn them for up to Rs 10,000 in a statement cycle.
- UPI spends get the same reward rate depending the spend category. This is a good value if you can use this card for grocery and utility UPI spends.
- Do note that we don’t get a fuel surcharge waiver on the IDFC First Bank HPCL Power credit card. So, the effective return on fuel payments will be lesser by 1%+GST.
Use HP Pay to Pay for Fuel
IDFC First Bank recommends using HP Pay to pay for HP fuel to avoid any issues with reward points due to different POS MIDs.
HP Pay is a scan-and-pay app through which we can pay for fuel and gas cylinders. This is possible if the fuel pump has an HP Pay QR code. There is an extra charge of 1% for using credit cards on HP Pay. But, we get back 6 Happy Coins per Rs 100 of fuel spends. Each Happy Coin is worth 25 paise. This is a return of 1.5% as Happy Coins. So, net positive even after the 1% charge.
IDFC First Bank HPCL Power Credit Card Rewards Redemption
Each reward point is equal to 25 paise and can be redeemed as a statement credit. This is one of the best benefits of this card. There is no restriction that we need to redeem the rewards for fuel or vouchers. Statement credit is always better and makes more sense than those options. For statement credit, you need to use the ‘Redeem Reward Points’ option on the OTP page when you make an online transaction.
But, there is a negative too. IDFC First Bank charges Rs 99+GST for every reward point redemption. So, it is better to accumulate points and then redeem them.
Complimentary Airport Lounge Access
- Domestic Airport Lounge Access: Not Available
- International Airport Lounge Access: Not Available
Other Key Benefits & Charges
- Roadside Assistance: Complimentary RSA valid 4 times/year
- Fuel Surcharge Waiver: Not Available
- Foreign Currency Markup: 3.5%+GST
The complimentary RSA is one of the unique privileges for a card of this segment. It covers many of the RSA services that we get as a paid cover from the vehicle showroom.
Final Thoughts
The IDFC First Bank HPCL Power credit card is a good option if your fuel spends are up to Rs 5000 per month. With many cashback cards not offering rewards on fuel, it has become essential to hold a fuel credit card.
IDFC First Bank HPCL Power credit card is one of the good fuel credit cards where we can meet the annual fee waiver by only using this card for fuel. The second plus point of this card is that it comes on RuPay. We can use this for UPI transactions too and get reward points.
Frequently Asked Questions
IDFC First Bank HPCL Power Credit Card
9 thoughts on “IDFC First Bank HPCL Power Credit Card Review”
As far as i know, statement credit is not available for redemption
You will see it on the OTP page and can use pay by points feature to pay for that transaction.
Can you please elaborate ? By otp page – you mean – while payment made during purchase on flipkart /amazon ? or while paying idfc cc bill from idfc mobile app via upi ?
During purchases made for anything online, you will see a checkbox which says ‘Redeem Reward Points’ on the page where you enter the OTP. You can click that to pay for the purchase with reward points.
I think there is some mistake with in your calculation with this card .. This card allows you to spend upto 4000 rs ( total 400 reward points ) in a billing cycle & not 2000.. U can confirm & change in the above article..
check on this link ..
https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/cards/Savings-Maximiser-FIRST-Power.pdf
This is fixed now with the review updates.
I would like to have a HPCL-IDFC FIRST BANK + card as I’m a regular customer of petrol. How can I have it easily?
You can apply online with the links in the review. IDFC First Bank has an online credit card onboarding process.
The card rewards you with points but also charge you extra as service charges for fuel. So, it is like getting your money back as rewards which you paid extra.
Other than that not much of a use.