Fuel budget forms one of the biggest chunks of monthly expenditure for regular users of private vehicles, be it a bike or a car. While the price of fuel has no chance of going down, financial institutions offer lucrative options of reduced fuel prices with the help of discounts through their credit cards. While going for these, one must understand their detailed usage in order to choose the best credit card for fuel, since not every card suits every individual’s personal needs.
Amongst different NBFCs, Bajaj Finserv brings you pre-approved offers that make availing loans quick and easy. Pre-approved offers are available on numerous financial products like credit cards, home loans, business loans, and personal loans, etc. You can check your pre-approved offer by providing your personal details like name and phone number.
Bajaj finance credit card is one such card that reduces the fuel budget with its exclusive offers and fuel-friendly schemes. Several financial institutions have similar cards on offer. While such financial products have become a necessity in the itinerary of the modern man, it is imperative to understand what a fuel credit card is in detail.
- Discounts: Best credit cards for fuel offer discounts on the purchase of fuel. This feature is most often available in partnered stations or brands. Sometimes financial institutions have schemes where customers can avail different percentages of discounts depending on the brand. Most of the cards offered by NBFCs, however, allow some discount or the other irrespective of the brand of the fuel station. This is one of the most effective features to combat fuel prices with a credit card.
It is important to note that sometimes this discount is valid only with a minimum purchase clause. Since in such cases the cap is high, it is advisable to estimate the overall use of fuel and refuel a vehicle accordingly in bulk. Though rare, sometimes there is also a cap on maximum purchase in order to prevent any hoarding or such.
- Reward points: There are several types of credit cards with different types of reward points on offer. Some reward points increase the percentage of rebate on fuel purchase, while others provide fuel free of cost once a minimum number of points are reached. Bajaj card and its likes have many such convenient reward point schemes to further decrease expenditure on fuel purchases.
Most credit cards have reward point slabs, each slab signifying different features like rates of discount and even ancillary discounts on other product purchases.
- Other features: Financial institutions have always provided several types of discounts based on purchases. Best credit cards for fuel such as the Bajaj Finserv RBL Bank SuperCard does not only provide fuel discounts but other features and discounts which further reduce the expenditure of individuals availing such cards. An applicant must be well aware of the little nuances of the credit world in order to redeem their credit card reward points.
Among the numerous features available, the most common are those of access to airport lounges or discounts on dining. Other features also include discounts on shopping and similar other purchases. These discounts are often related to the use of particular credit cards, therefore requiring a certain number of reward points or it’s like in order for it to be applicable.
Conventionally use of credit cards has been limited in India especially if compared with that of the debit card. The scenario, however, has broadly changed over the last decade or so.
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With further features like that of rebates and discounts on purchases of particularly pricey but essential products like fuel, credit cards have evolved into an important financial tool. Anyone looking to cut down on fuel expenditure ought to take a look at it.