IDFC First Bank HPCL Power Credit Card Review

IDFC First Bank HPCL Power Credit Card

Fee

Joining Fee: Rs 199+GST
Annual Fee: Rs 199+GST

Type

Co-Branded, Fuel

Return

0.3% to 3.5%

Rating

4/5

Network

RuPay

Benefits

None

Table of Contents

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

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  • 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 FeeRs 199+GST
Welcome BenefitRs 250 cashback on 1st HPCL fuel transaction of Rs 250 and above
Annual FeeRs 199+GST
Annual Fee WaiverRs 50,000 spend in an anniversary year
IDFC First Bank HPCL Power Credit Card Review: Fees

IDFC First Bank HPCL Power Credit Card Rewards

Spend CategoryRewardsMaximum Spends Cap
HPCL Fuel21 RP/Rs 150 ~3.5% ReturnRs 5000 spend/statement cycle
Utilities and Groceries15 RP/Rs 150 ~2.5% ReturnRs 4000 spend/statement cycle
IDFC FASTag15 RP/Rs 150 ~2.5% ReturnRs 2000 spend/statement cycle
All Other Spends2 RP/Rs 150 ~0.3% Return
Non HPCL Fuel, Insurance, EMI TransactionsNo Rewards
IDFC First Bank HPCL Power Credit Card Review: 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

HP Pay App for IDFC First Bank Power Credit Card

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.

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IDFC First Bank HPCL Power Credit Card Rewards Redemption

IDFC First Bank 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.

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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.

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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

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9 thoughts on “IDFC First Bank HPCL Power Credit Card Review”

      1. 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 ?

        1. 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.

  1. Anwarul Haque

    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?

    1. You can apply online with the links in the review. IDFC First Bank has an online credit card onboarding process.

      1. Kshitiz Lohia

        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.

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