If you want to reduce your fuel expenses a bit amid the rising prices of petrol and diesel, then co-branded fuel credit cards can be a good option. Generally, many credit cards do not give reward points on fuel expenditure, but there are some special cards which give additional benefits on filling petrol and diesel.
Reward points are available on fuel expenditure
Fuel credit cards are specially designed keeping in mind the buyers of petrol and diesel. Reward points are available on payment at petrol pumps through these cards. Later these points can be used while purchasing petrol and diesel. Fuel surcharge is also waived off in many cards, providing additional savings to customers. For those who spend a lot on fuel every month, these cards can provide good savings in the long run.
Cards are made in collaboration with oil companies
The fuel credit cards with the highest benefits are usually issued in collaboration with large oil marketing companies. These include brands like Indian Oil, Bharat Petroleum and Hindustan Petroleum. In such co-branded cards, you get more reward points on filling fuel at the petrol pump of that particular company. Therefore, if a customer always fills fuel from the same brand of petrol pump, he can get more benefits.
Keep these things in mind while choosing a card
According to experts, while taking a fuel credit card, the decision should not be taken only on the basis of reward points. Along with this, it is also important to understand things like monthly limit, value of reward points and annual fees. There are some cards which apart from fuel, also give additional rewards on grocery, utility bills or everyday expenses. This can further increase the total benefit of the card.
Use reward points on time
Reward points received from fuel credit card can be used directly while purchasing petrol and diesel or they can be converted into fuel vouchers. However, these points have an expiry date, hence customers should keep redeeming them from time to time. If used properly, fuel credit cards can help in saving substantial money on petrol and diesel expenses.