Can co-branded gas playing cards assist to beat rising gas costs?

Can a gas bank card profit you within the present situation when petrol and diesel prices are excessive? You can in case you are loyal to an organization and a good portion of your month-to-month bills is on gas.

Most bank cards centered on gas are co-branded playing cards. Take Indian Oil HDFC Bank Credit Card for instance. The person can earn as much as 50 litres of free oil in a yr, in keeping with the financial institution’s web site. Every time you swipe your card on the Indian Oil outlet, you get greater factors. There’s additionally a 1% gas surcharge waiver in any respect gas stations throughout India if the minimal transaction is ₹400 (most cashback is restricted to ₹250 per assertion cycle).

View Full PictureMost of the co-branded gas playing cards have a becoming a member of and annual price.

But like several co-branded card, to make full use of the profit, it’s essential solely stick to 1 firm each time you refuel. The extra often you refuel, the upper advantages you’ll get. In some playing cards, a person can use the reward factors and pay for gas with it.

Most of the co-branded gas playing cards have a becoming a member of and annual price. If the customers go spends past the desired restrict, the issuer affords a waiver of the price. In a card like BPCL SBI Card Octane, the person should spend ₹2 lakh in a yr to get the price waiver, in keeping with information from Paisabazaar.com.

But it’s a premium card that additionally affords advantages resembling 4 complimentary lounge entry at home airports and better reward factors on spends. Users get 25 reward factors on each ₹100 spent on BPCL gas, lubricants and Bharat Gas.

So, in case you are choosing a co-branded gas card, make sure that gas spends are excessive and also you stick to 1 firm to get the utmost advantages.

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

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