IDFC First Bank HPCL Power Credit Card

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 a few good benefits like complimentary RSA and fuel surcharge waiver.

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 and others
Annual Fee	Rs 199+GST
Annual Fee Waiver	Rs 50000 spend in an anniversary year

There are a few other welcome benefits that can be availed within 30 days of card setup:

5% cashback up to Rs 1000 on the transaction value of 1st EMI conversion
Rs 150 Discount on orders above ₹500 on Swiggy
Rs 500 Discount on ZoomCar rentals
Discount up to 50% on Domestic and International Rental Cars with Eco Rent A Car and EuroCard

IDFC First Bank HPCL Power Credit Card Rewards

Spend Category	Rewards	Maximum Spends Cap
HPCL Fuel and LPG	15 RP/Rs 150 ~2.5% Return	Rs 5000 spend/statement cycle
Utilities and Groceries	15 RP/Rs 150 ~2.5% Return	Rs 2000 spend/statement cycle
IDFC FASTag	15 RP/Rs 150 ~2.5% Return	Rs 1000 spend/statement cycle
All Other Spends	2 RP/Rs 150 ~0.3% Return
Non HPCL Fuel, Insurance, EMI Transactions	No Rewards

Extra 1.5% cashback (as Payback points) on using HP Pay
1% fuel surcharge waiver
UPI transactions get the same reward rate based on the spend category!

The returns on fuel, utilities and groceries are good enough for a card of this segment. But outside that, there is not much benefit of using the IDFC First Power credit card. 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. But, there is an extra charge of 1% for using credit cards on HP Pay. So, the 1.5% benefit is not of much use.

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.

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.

Other Key Benefits & Charges

Complimentary Roadside Assistance up to 4 times per year
1% Fuel Surcharge Waiver up to Rs 100 per statement cycle. This will be applicable on fuel transaction value of Rs 200 to Rs 5000.
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 it is on RuPay. We can use this for UPI transactions too and get reward points.

Frequently Asked Questions