A survey conducted back in 2016 found that around 33% of individuals used a two-wheeler to reach work. In 2018, approximately 23% of people used their personal cars to commute.
If you commute using your own vehicle, high fuel prices could end up making you spend a significant portion of your income on fuel. You can save considerably on your fuel cost if you switch to a fuel credit card as your mode of payment.
What are fuel credit cards?
A fuel credit card provides exclusive rewards and benefits when used to purchase fuel. You can accumulate high reward points redeemable for free fuel. Some fuel credit cards also provide attractive discounts and cashback on fuel purchases.
You also receive a fuel surcharge waiver although the threshold of waiver differs with cards. They may provide full or a set percentage of surcharge waiver.
One of the best fuel credit cards available in India presently is the Bajaj Finserv RBL Bank SuperCard. It provides up to Rs. 200 of fuel surcharge waiver every month. Thus, you not only get more affordability when buying fuel but also receive reward points.
A look at some of the other features and benefits of this credit card:
1.Emergency personal loan at 0% interest rate
The SuperCard enables you to avail an emergency personal loan against the cash limit of your credit card. The credit limit restores as you pay the EMIs. Plus, you don’t incur any interest while repaying the loan for up to 90 days.
This industry-first feature may not be available with a conventional fuel credit card.
2. ATM cash withdrawal with no interest in repayment
The majority of credit cards charge interest the moment you use them to withdraw cash from ATMs.
However, the Bajaj Finserv RBL Bank SuperCard doesn’t charge any interest on repayments of cash withdrawal. You get a 50-day interest free period to repay the cash you withdraw from an ATM.
Note that a regular fuel credit card may not come with this industry-first feature.
3. Reward points
You receive the following reward points:
- On every Rs. 100 you spend regularly, you can earn up to 2 rewards.
- On every Rs. 100 spend online, you can earn 2 reward points.
- Up to 20 reward points for every Rs. 100 spent on dining and overseas purchases.
Not only the above, but you will also receive up to 20,000 reward points as a welcome bonus when you apply for this credit card.
Additionally, you can get high reward points on crossing a milestone:
- Up to 5,000 reward points on spending Rs. 75,000 in a year.
- Up to 20,000 reward points for annual spends of Rs. 3 Lakh in a year.
- An additional 20,000 reward points on crossing Rs. 5 Lakh in a year.
How to redeem?
Accumulated reward points are redeemable in the following ways:
- Cashback – Convert the points into cash and get discounts in your monthly statement.
- Travel miles – Convert your points into travel miles which can then be redeemed to get discounts on air tickets.
- Gift vouchers – Redeem your reward points for gift vouchers.
- Purchase fuel – Last but not least, redeem these points to purchase fuel for free.
1.Offers on movie tickets
You may or may not receive offers on movie tickets when using a regular fuel credit card. However, the SuperCard provides you with the following:
- One free movie ticket with 1 purchased. Offer valid once a month.
- 10% discount on movie tickets. Offer valid up to 15 times in a year.
2. Access to airport lounges
The SuperCard enables you to visit airport lounges for free up to 8 times a year. Additionally, you can get unlimited paid accesses.
3. EMI financing
Convert your purchases into EMI and pay conveniently. You either pay low interest or zero interest with EMI financing, thanks to No Cost EMI.
Pre-approved offers from Bajaj Finserv lower the hassle involved in availing these credit cards. Pre-approved offers also come with hosts of financial products and services like home loans, business loans, personal loans, etc. Check your pre-approved offer by providing only your phone number and name.
You can quickly and conveniently apply for a credit card online. Visit the official website of the financing company to fill out a simple form with your details. Do make sure to fulfil all the eligibility criteria and provide all the necessary documents.
Author Bio:
Gaurav khanna is an experienced financial advisor, digital marketer and writer who is well known for his ability to predict market trends. You can find Gaurav on Linkedin.
