INSUBCONTINENT EXCLUSIVE:
As petrol, diesel still sell at exorbitantly high levels, the fuel consumers have barely anything to look
forward to, besides the marginal price cuts
However, there are some credit cards offered by Citi Bank, State Bank of India (SBI), ICICI Bank and Standard Chartered Bank that enable you
to save significant amount of money in form of fee waivers and points that can be used to buy fuel later on
The way of functioning of these cards is broadly the same
As a customer uses the credit card at a fuel station, s/he is entitled to receive some "points" which are directly proportional to the
quantum of money you spend at the fuel pump
The more you spend, the more points you will stand to earn, which can be utilised in buying the fuel at the fuel pumps.There is, however,
One is that these cards have an annual membership fee, while another is that the points are credited only when the card is swiped on the
respective bank's EDC (electronic data capture).Citi bank Indian oil card Features: Save Upto Rs 4,800 worth fuel1
By using the Citibank oil card, one can earn turbo points on fuel purchases at authorised Indian Oil retail outlets across the country
On every purchase of Rs 150, the customer is entitled to receive four turbo points, mentions citibank's website:
One turbo point gives you Re 1 of free fuel.3
Annual fee of Rs 1,000 is applicable at the end of the membership year, which can be waived if you spend at least Rs 30,000 per annum on
average)(1 Turbo pt = 1Rs.)Fuel*4XRs.18,000480Rs.180Groceries and Supermarkets#2XRs.15,000200N/AAll other spends1Rs.52,000347N/AQuarterly
The card also enables the full waiver of the fuel surcharge (1 percent) on fuel purchases.5
The Citi Bank card must be swiped on Citibank EDCs (electronic data capture) only to avail the above benefits
The Turbo Points that accrue in this category would be capped to purchase amount of Rs 10,000 (or 267 Turbo Points) per transaction.BPCL SBI
The joining fee is Rs 499 while the renewal fee is same at Rs 499.3
The card allows the maximum surcharge waiver of Rs 100 in a month which leads to annual savings of Rs 1,200
Maximum limit in a month is Rs 10,000.4
There is no minimum threshold
The surcharge waiver applicable only on transactions upto Rs 4,000 for a maximum of Rs 100 per month
The card can lead to annual savings of 70 litre of fuel.5
There is an offer valid till June 30 that allows the customer to receive BookMyShow voucher worth Rs 250.ICICI Bank HPCL Coral American
Express Credit Card Features1
The ICICI Bank allows you to get 2.5 per cent cashback and a savings of 1 per cent fuel surcharge on fuel purchases at HPCL pumps,
The cashback is available on a minimum transaction value of Rs 500
The customer is entitled to earn six PAYBACK Points per Rs 100 spent on fuel at HPCL pumps.3
One can redeem 2,000 PAYBACK Points for fuel worth Rs 500.4
When you use your ICICI Bank HPCL Coral American Express Credit Card, 1% fuel surcharge will not be levied on fuel transactions upto
In case you spend Rs 50,000 or more annually on your Card the bank will reverse the annual fee (Rs 199) for that year.Standard Chartered
Super Value Titanium Card FeaturesThe Standard Chartered Bank card allows you upto five percent cashback on fuel spends across all fuel
stations up to a maximum of Rs 200 per month (a maximum of Rs 100 per transaction) on a minimum transaction of Rs 750, mentions www.sc.com
