What Is A Fuel Credit Card?
A Fuel Credit card is being offered by banks to customers in a bid to provide them with maximum benefit while purchasing fuel. Having this card enables those who constantly buy fuel for various purposes to lower the expenditure on fuel.
Who Are Eligible To Apply For A Fuel Credit Card?
The eligibility to apply for a fuel credit card seems to vary from bank to bank. However, some of the common eligibility norms that an applicant needs to fulfill are:
- Need to have a good credit score.
- Need to fulfill the minimum age and income bracket as prescribed by the bank.
How To Choose The Best Fuel Credit Card?
Before deciding to avail the best Fuel Credit card one needs to consider quite a few things. And with different banks and financial institutions providing fuel credit cards it is not easy in finalizing the card that best suits the purpose of the individual. Here are certain things that an individual before deciding which fuel credit card to avail:
- Credit card payment pattern: While choosing the best fuel credit card, the most important thing is to identify the pattern of payment. The individual must look for a card that offers fuel benefits as well as best interest rates.
- Fuel spending pattern: The individual needs analyze his/her expenses and decide on the monthly budget that would be spent on fuel. This is quite important as availing a fuel credit card without analyzing this would not serve the purpose.
- Fees and charges: Considering the fees and charges associated with the fuel credit card that one intends to get also needs to be assessed prior to availing the card. If this is not done, the benefits and discounts that come with fuel credit cards may be negated by virtue of paying high fees and charges that are associated with the card.
- Check the redemption process of the card: It is better to check the redemption process of the fuel credit card. It is better to get those cards which offer instant redemption of points.
Benefits Of Fuel Credit Cards
With many banks and financial institutions offering credit cards, the benefits that come with Fuel Credit cards differ. Apart from lowering the expenses with regards to purchasing fuel, some other benefits that come with Fuel Credit cards are as follows:
- Get Reward Points
- Redemption of points earned
- Eligible for Cashback
- Eligible for Surcharge Waiver
- Dining offers
- BookMyShow Offer
- Eligible for Turbo Points
- Waiver of Annual Fees
- Can make utility bill payments
- Eligible for Telecom benefits
- Concierge Service
Features Of Fuel Credit Cards
Just like other credit cards, Fuel Credit cards also come with a lot of features. Some of the features that come with Fuel Credit cards which banks provide are as follows:
- Can enjoy Zero Fuel Surcharge: An individual who uses Fuel Credit card gets the fuel surcharge of 2.5% waived when he/she purchases fuel by using the card. Apart from this, the card offers cashback as well as enables the cardholders to make payment of utility bills.
- Individuals can redeem points to purchase fuel: By virtue of using the Fuel Credit cards at various outlets, an individual can earn redeem points. These redeem points can be used while purchasing fuel or for other lifestyle benefits like buying tickets, dining discounts etc.
Why Opt For A Fuel Credit Card?
When most credit cards that are existing in the market offer fuel benefits to individuals, the question emerges as to why one should opt for a Fuel Credit card. The answer to this question is that Fuel Credit cards are specially designed to save money every time an individual refills his vehicle with fuel.
How To Apply For A Fuel Credit Card?
An individual can apply for a Fuel Credit card by visiting the nearest branch of the bank from which he/she wants to avail the card or apply online. The applicant needs to fill the application form and provide the documents asked for to get himself/herself the Fuel Credit card and cut down on the fuel expenses.