Best credit card for gas rewards: How to save at the pump | Apkacyber

Best Credit Card for Gas Rewards: How to Save at the Pump

In today’s economy, the cost of fuel can significantly impact your monthly budget. Fortunately, a strategic approach to credit cards can help offset these expenses. Gas rewards credit cards offer a way to earn cashback, points, or discounts on your fuel purchases, effectively saving you money every time you fill up. This article will guide you through the best credit cards for gas rewards and provide valuable tips on maximizing your savings at the pump.

Understanding Gas Rewards Credit Cards

Gas rewards credit cards are designed to provide benefits specifically for fuel purchases. These benefits typically come in the form of:

• Cashback: A percentage of your gas purchases is returned to you as cash.
• Reward Points: You earn points for every rupee spent on gas, which can then be redeemed for fuel, gift cards, or other rewards.
• Surcharge Waivers: Some cards waive the fuel surcharge levied at petrol pumps, leading to direct savings.
• Discounts: Instant discounts at partner fuel stations.

The best gas rewards card for you will depend on your spending habits, the fuel brands you prefer, and the overall value offered by the card, including annual fees and other perks.

Top Credit Cards for Gas Rewards in India 

Here’s a look at some of the leading credit cards in India that offer significant gas rewards:

1. IndianOil RBL Bank XTRA Credit Card:

   • Offers up to 8.5% value back as reward points on fuel purchases at IndianOil stations.
   • Provides 15 Fuel Points for every ₹100 spent at IndianOil fuel stations (up to 2,000 points monthly).
   • Features a 1% fuel surcharge waiver (up to ₹200 per month).
   • Best suited for frequent customers of IndianOil.

2. BPCL SBI Card Octane:

   • Provides up to 7.25% value back as reward points on BPCL fuel.
   • Earn 25 reward points per ₹100 spent at BPCL fuel, lubricants, and Bharat Gas (website/app only), capped at 500 points monthly.
   • Offers a 1% fuel surcharge waiver (up to ₹100 per month).
   • Includes 4 complimentary domestic Visa lounge visits annually.

3. IndianOil Axis Bank Credit Card:

   • Offers a 4% value back on fuel transactions at IndianOil outlets (20 reward points per ₹100 spent, up to ₹5,000 monthly).
   • Provides a 1% fuel surcharge waiver (up to ₹50 per statement cycle).
   • Offers 100% value back on the first fuel transaction (up to 1250 EDGE REWARD points).

4. HPCL BoB Energie Credit Card:

   • Offers up to 5% savings on fuel purchases at HPCL retail outlets and LPG purchases.
   • Includes a 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000 at HPCL.
   • Provides 4 complimentary airport lounge access per year.

5. ICICI Bank HPCL Super Saver Credit Card:

   • Offers 5% savings on all fuel purchases at HPCL outlets (4% cashback capped at ₹200 per month and 1% fuel surcharge waiver).
   • Provides 20 PAYBACK Points per ₹100 spent on utility bill payments and at departmental stores.

Note: Fees and specific benefits are subject to change. Always check the latest terms and conditions with the respective card issuer before applying.

Maximizing Your Savings at the Pump

Beyond choosing the right credit card, several strategies can help you save even more on gas:

1. Use Gas Price Apps: Apps like GasBuddy can help you locate the cheapest gas stations in your vicinity. Prices can vary significantly between stations, so a quick check can lead to substantial savings over time.

2. Maintain Your Vehicle: Regular car maintenance, such as ensuring proper tire inflation, using the recommended grade of oil, and replacing air filters, can improve your car’s fuel efficiency. Underinflated tires, for instance, can reduce fuel economy.

3. Drive Efficiently: Avoid aggressive driving habits like rapid acceleration and sudden braking, which can decrease fuel efficiency by 15% to 40%. Maintaining a steady speed and using cruise control on highways can help. Fuel efficiency typically decreases above 50 mph.

4. Reduce Idling: Letting your car idle for extended periods wastes fuel. If you’re waiting for more than a minute, it’s generally more efficient to turn off the engine.

5. Combine Errands: Planning your trips to accomplish multiple errands in one go reduces the total distance traveled and thus, fuel consumption.

6. Consider Carpooling or Public Transport: When feasible, carpooling with colleagues or using public transportation can significantly cut down on your personal fuel expenses and reduce wear and tear on your vehicle.

7. Use Loyalty Programs: Many gas stations offer loyalty programs that provide discounts or points on fuel purchases, which can be stacked with your credit card rewards for even greater savings.

8. Pay Attention to Fuel Surcharge Waivers: Understand the terms of your credit card’s fuel surcharge waiver, including the maximum waiver amount and any minimum/maximum transaction values to maximize this direct saving.

Conclusion

Choosing the best credit card for gas rewards is a smart financial move for anyone who regularly drives. By understanding the different types of rewards and comparing the top cards available, you can significantly reduce your fuel expenses. Combining the benefits of a gas rewards credit card with fuel-efficient driving habits and other money-saving strategies will help you keep more money in your pocket while staying on the road. Remember to always review the terms and conditions of any credit card before applying to ensure it aligns with your individual spending patterns and financial goals.