Babaria Media - Latest Information on Fuel Surcharge Waiver on Credit Cards in India.

Latest Information on Fuel Surcharge Waiver on Credit Cards in India.

Want to save money on fuel, then you need to know everything about fuel surcharge waiver.
In this article we explain you the meaning of fuel surcharge and how to waiver it. Also we recommend the best credit cards to save more money on fuel.​

We depend on transportation for our daily work.

​The key element of smooth transportation is the fuel that comes at a cost sometimes high and at times low. The purchase of fuel is essential for transportation at a nationwide level in India.

People purchase fuel via cash, credit card or debit card from the fuel stations also known as the petrol pumps.

Earlier, the fuel providing businesses used to manage the expenses like fuel charge on their own leaving them with slim margins, but now that is not the common practice anymore.

This is because of the uncertain and low pricing of the crude oil in the market.

​Therefore, now the merchant collects the fuel charge directly from the customer’s at the fuel station. The fuel charge is usually around 2% - 3% of the total payment.

        

This fuel charge is absorbed by the merchant the moment you swipe the card. The rising cost of fuel is gradual, and it is not stopping.

Because of this, the people are facing trouble in keeping expenses under control. The rising cost of fuel causes trouble in maintaining the fixed budget that is facing a hit due to the fuel price inflation.

An average person has no control over the fuel price inflation.

​The benefits of fuel surcharge waiver offered on select credit cards offered by different banks have interested people in purchasing fuel via credit cards.

Banks have tie ups with different Oil Companies in India, thus offering the credit card that has the fuel surcharge waiver facility on the same.

Fuel surcharge waiver - The complete guide

​What is Fuel Surcharge waiver? What is fuel surcharge meaning?

Let me explain you the fuel surcharge waiver meaning.

The Fuel Surcharge is a charge paid by the consumer at the time of purchase of fuel at the fuel station. It is an extra fee that covers the fluctuating cost the fuel in the market.

It is a known fact that the fuel companies operate on very low margins. The fuel surcharge is a transaction charge that can hit their profit and margins. The merchant gets the complete benefit of the fuel surcharge.

In petrol transactions the merchant gets a fixed amount per liter of petrol or diesel sold to the buyer. There are oil companies that do not apply the surcharge when the fuel is purchased for a higher value.

For example, fuel purchased for the amount of INR. 400/. When the credit card is used to make the payment, the same cost can get absorbed by the credit card company providing relief to the consumer.

​Fuel Surcharge Waiver on the Credit Card.

​Many banks in India offer fuel surcharge waiver. But what they do not tell their customers is that they do not waive the service tax levied on the surcharge. The use of cash is more effective that helps in saving the taxes.

Banks Offering Credit Cards in India for Fuel surcharge waiver

Several banks in India have the tie up with the oil companies that offer their credit card products to the common people. These credit cards come as the co-branded cards in the market.

Apart from these credit cards, some cards offer fuel reward points.

Provided you opt for one of these credit cards, it might become the slightly less expensive affair. It helps when purchasing the fuel during daily work commute or weekend outing.

There are different factors to keep in mind when choosing the credit card for fuel purchase purpose.

• Before selecting the credit card for making your fuel purchase easy, make sure the credit card is acceptable at the most of the petrol pumps or the ones you visit regularly. If you do not choose the credit card carefully, then you might miss on the benefits and features on the card.
• Consider the fact most of the credit card charge an annual fee. However, it is possible for you to get the fee waived off once you start making regular expenses on your card.

Therefore, if you decide to opt for a credit card, then please make sure you are well versed with the terms and conditions.

• Besides considering the benefits and schemes on the credit card. You can also check out the additional features that are on the credit card product such as the perks, rewards, when using the cards on different locations besides the fuel station.
• It is important to get a credit card that has a hassle-free redemption of the reward points.

Below mentioned is the list of Top 6 credit cards on offer in India.

#1.  RBL Titanium Delight.

​Features: The Card offers the benefit of 2.5% Fuel Surcharge waiver. This applies to the fuel transaction in any domestic fuel station. Get lucrative offers from BigBazaar with the 5% cash back on shopping done on Wednesdays. Offers on the 2.5x rewards for every INR. 100.00 spent.

Get additional Wednesday offers at Dominos and Pizza Hut online with a possibility of 10% cash back. Bookmyshow.com offer for the 1+1 movie ticket free once in every month. If you spend more than INR. 1 Lakh, then you will get the INR. 750/- annual fee waived off.

#2.  Indian Oil Citibank Platinum Card.

Features: Offers benefit of saving 5% on the purchase of fuel from the Indian Oil outlets. You will get 250 bonus points as the joining perk. Get 4 turbo points on the purchase of the fuel worth INR. 150 at the Indian oil outlets.

You can redeem the turbo points in lieu of the fuel purchases.
You can receive 4X Turbo Points on every 150 rupee expense even if you spend the large sum of INR 10,000 in a single transaction. The card holders get an additional benefit of INR. 3000/- making hotel bookings through the MakeMyTrip web portal.
You will also receive 2 turbo points on each rupee 150 spent on the grocery purchase in the supermarket. One turbo point rupee 150 spent on the dining, shopping, and the entertainment.

​#3. ICICI Bank HPCL Coral American Express Credit Card.

Features: The card offers you the benefit of earning 6 Payback points on each rupee 100 spent. Once you have 2000 payback points, you can redeem the same and buy fuel worth INR. 500.

The card offers you 2.50 percent cash back on every fuel purchase you make in the fuel stations in India. ICICI Bank HPCL Coral card offers the benefit of 2.50 percent of the fuel transaction with the maximum amount of INR. 4000.
You can dine at more than 800 restaurants as part of the Culinary Treats Program and get save up to 15%. Get a discount of up to rupees 100 on the movie tickets bought from the BookmyShow website.

#4. SBI Simply Save.

Features: SBI Simply Save one of the premier credit cards in India offered by the countries largest public bank. Get waiver of 2.50% fuel surcharge on fuel purchase ranging between INR. 500 to INR. 3000.

Get 10 reward points on every rupee 100 spent on dining, movies, groceries, and shopping, etc.
Earn reward points on rupee 100 spent on the purchases. Once you have a large number of reward points, you can use the same to pay off your credit card bills or redeem the points instead of the freebies.

#5. IndusInd Platinum Aura Card.

Features: The platinum aura card offers fuel savings up to INR. 2400 annually with the 2.5% fuel surcharge waiver at the petrol pumps.

Make savings on every expense ranging from the half point to the 4 points for every 100 rupees using the credit card. Unmatched reward points on the purchase of tickets from the railways, air tickets, hotel expenses and car rental, etc.
Get complimentary travel insurance coverage on the loss of luggage, loss of the ticket and password, and the missed connection, etc.

#6. HDFC Money Back Card.

​Features: Get 2 reward points on every rupee 150 spent on fuel and other expenses. Also, get 4 reward points for purchase done online for the amount of rupee 150. Every billing cycle gets the fuel surcharge waiver of 2.5% up to Rupee 250.

You will get 50% more reward points on expenditure more than INR. 50,000 within the single billing cycle. You are eligible to apply and receive up to 3 add-on cards at no extra charge.
Provided you misplace your card of losing the same you get zero loss, liability coverage from the HDFC Bank.