Fuel bank card will help you save in case you are loyal to the model

At a time when petrol and diesel costs are surging, co-branded gasoline playing cards will help avoid wasting cash.

The approach gasoline playing cards work is simple. Cardholders get increased factors for spends on gasoline. They can use the factors for various functions, together with refuelling. All such playing cards additionally provide gasoline surcharge waivers.

IndianOil HDFC Bank Credit Card, for instance, affords 5% of spends as gasoline factors at IndianOil retailers. The person additionally will get enrolled in IndianOil XTRAREWARDSTM Program.

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BPCL SBI Card Octane affords 25 reward factors on each ₹100 spent at BPCL retailers, and IndianOil Citi Credit Card offers 4 factors for each spend of ₹150 at IndianOil retailers.

There are different advantages as properly, relying on the class of the cardboard. For instance, BPCL SBI Card Octane provide lounge entry. These playing cards provide rewards for buying, spending past a selected restrict, and so forth. There may be reductions at accomplice retailers.

Saving on petrol and diesel prices utilizing co-branded gasoline bank cards is feasible solely when you’re loyal to the precise manufacturers and have a excessive spend on gasoline. If you may have an Indian Oil co-branded card, for instance, you will need to be certain that all of your refuelling occurs on the firm’s outlet. The identical holds for different manufacturers.

Co-branded gasoline bank cards might even have some caveats. According to HDFC Bank’s web site, prospects can earn 5% of spends as gasoline factors. However, the utmost gasoline factors monthly are restricted to 250 within the first six months. After six months, the utmost gasoline factors a person can earn is 150 a month.

All these playing cards even have an annual charge, which issuers waive off if the cardholder spends past the desired restrict. Before making use of for any certainly one of these playing cards, know the phrases and situations in order that there are not any surprises later.

(Do you may have private finance queries? Send them to mintmoney@livemint.com and get them answered by trade consultants)

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