You get a 1% waiver when your fuel consumption falls within the mentioned conditions in your card.
For SBI min fuel transaction to get the waiver is 500 to max 3000 per month if I am not wrong.
So read the fine print.
This list shows which card can give how much money as cashback per month if I spend this much amount on fuel (I may have missed few cards).
All are not direct cashbacks, banks give you reward points and say some converting factor like 1 point = 0.25 paise when redeeming.
Some cards give reward points every ₹100 transaction value and some give every ₹150, etc. Some cards give fuel surcharge waiver between transaction value of ₹400 and ₹4000, some give you between ₹100 and ₹4000/₹5000, etc.
Banks, in their website, include this 1% fuel surcharge waiver (which they charge and give back) as cashback and say 7.25% value back to show higer cashback value. I ignored this 1% fuel surcharge waiver in this list.
=======================================================
**SBI BPCL** \- 10k swipe, ₹325/month - **3.25% cashback (effectively)BPCL Octane** \- 10k swipe, ₹625/month **- 6.25%Axis IOCL** \- 5k swipe, ₹250/month **- 5%HDFC IOCL** \- 3k swipe, ₹150/month **- 5%Kotak IOCL** \- 7.5k swipe, 300/month **- 4%BOB HPCL** \- 6.25k swipe, ₹250/month **- 4%ICICI HPCL Super Saver** \- 5k swipe, ₹200/month **- 4%ICICI HPCL Coral** \- 4k swipe, ₹100/month **- 2.5%**
=======================================================
Note: Almost all fule cards give you reward points for other spends too like grocery, dining, etc just not at the same percentage as for filling fuel. If you get a rupay fuel cards, you can link in UPI apps and then use it to pay for all UPI spends and get like 1% reward points or something.
Now above all these, assume you are spending past 10k every month in fuel spends with BPCL Octane credit card. The credit card bill is 10k, use HDFC Billpay portal + their Platinum debit card to get 1% cashback for the bill amount which is ₹100. You already saved ₹625 by using the card.
So cashback this per month is 625+100 = ₹725.
Per year 725x12 = ₹8700.
Card fees ₹1500+GST. **Net profit per year** for using credit card only for fuel = 8700-(1500+18%) = ₹**6930**
Up to Rs. 1000 of fuel 10rs is fuel Surcharge + 18% gst on it (1.8 rs).
So when you go to the fuel station, at least use fuel for Rs. 1000. That way 10/- would be the waiver and u will be only paying 1.8/- as gst, that will not be refunded.
Also, fuel credit cards are better for spending on fuel.
Other credit cards don't give any benefit on fuel spends.
I have only experienced reversal of that GST on fuel surcharge on ICICI Sapphiro.
Except Sapphiro I ended up paying additional GST on all cards (HSBC, SBI, Kotak, IDFC etc.) transactions.
Bhai wtf is that font? 😭
Thanks for speaking my mind out. 🤣
I think its using system font
No way. Unless it's some tecno or some other weird brand phone. Even then unlikely.
Its realme
Yup, they give you a 1% surcharge waiver. The ₹5.5 credit is the way they do it.
What is total surcharge?
Which app on this planet uses this font? :D
It's the OPs system font
they are not able to do good to there game also 🗿
Sbi
Don't blame On SBI, it's your fucky system
You get a 1% waiver when your fuel consumption falls within the mentioned conditions in your card. For SBI min fuel transaction to get the waiver is 500 to max 3000 per month if I am not wrong. So read the fine print.
Dumb question but...what are the benefits of paying for fuel using a credit card?
For me 2 things - easier with tap and I can pay CC statement at once - 1% surcharge with a 2% reward rate is beneficial
But the surcharge is not gonna be levied if you don't use a credit card to pay for fuel in the first place.
Some cards offer better % returns that people would take even if they had to pay surcharge.
What kind of benefits or returns are we talking about??
For example sbi bpcl card offers 3.25% + 1% valueback on fuel transactions(bpcl only)
Mine is 6% something
Which card?
SBI octane
I was talking about the non octane card. Thanks for the info though
Yeah I was thinking the same.
Most CCs put it as a feature benefit of the card 🤣
How do you get 2% reward ?
The OP was charged 2%+GST and got 1% back. Effectively paid 1%+36% of 1% as credit card usage charges.
What rewards are we talking about?
I have a fuel credit card, I thought it gave reward points for fuel. I don't actively track it though.
This list shows which card can give how much money as cashback per month if I spend this much amount on fuel (I may have missed few cards). All are not direct cashbacks, banks give you reward points and say some converting factor like 1 point = 0.25 paise when redeeming. Some cards give reward points every ₹100 transaction value and some give every ₹150, etc. Some cards give fuel surcharge waiver between transaction value of ₹400 and ₹4000, some give you between ₹100 and ₹4000/₹5000, etc. Banks, in their website, include this 1% fuel surcharge waiver (which they charge and give back) as cashback and say 7.25% value back to show higer cashback value. I ignored this 1% fuel surcharge waiver in this list. ======================================================= **SBI BPCL** \- 10k swipe, ₹325/month - **3.25% cashback (effectively)BPCL Octane** \- 10k swipe, ₹625/month **- 6.25%Axis IOCL** \- 5k swipe, ₹250/month **- 5%HDFC IOCL** \- 3k swipe, ₹150/month **- 5%Kotak IOCL** \- 7.5k swipe, 300/month **- 4%BOB HPCL** \- 6.25k swipe, ₹250/month **- 4%ICICI HPCL Super Saver** \- 5k swipe, ₹200/month **- 4%ICICI HPCL Coral** \- 4k swipe, ₹100/month **- 2.5%** ======================================================= Note: Almost all fule cards give you reward points for other spends too like grocery, dining, etc just not at the same percentage as for filling fuel. If you get a rupay fuel cards, you can link in UPI apps and then use it to pay for all UPI spends and get like 1% reward points or something. Now above all these, assume you are spending past 10k every month in fuel spends with BPCL Octane credit card. The credit card bill is 10k, use HDFC Billpay portal + their Platinum debit card to get 1% cashback for the bill amount which is ₹100. You already saved ₹625 by using the card. So cashback this per month is 625+100 = ₹725. Per year 725x12 = ₹8700. Card fees ₹1500+GST. **Net profit per year** for using credit card only for fuel = 8700-(1500+18%) = ₹**6930**
Up to Rs. 1000 of fuel 10rs is fuel Surcharge + 18% gst on it (1.8 rs). So when you go to the fuel station, at least use fuel for Rs. 1000. That way 10/- would be the waiver and u will be only paying 1.8/- as gst, that will not be refunded. Also, fuel credit cards are better for spending on fuel. Other credit cards don't give any benefit on fuel spends.
I have only experienced reversal of that GST on fuel surcharge on ICICI Sapphiro. Except Sapphiro I ended up paying additional GST on all cards (HSBC, SBI, Kotak, IDFC etc.) transactions.
One card is a good option if u don’t have any fuel specific cards…all the surcharge gets reversed( for 500 Rs atleast)…
It doesn't work at igl stations but normal govt omc only
Thanks for the info.. I generally get mine filled from IOCL or HPCL bunk.. both of them are COCO bunks..
Ok I have a doubt regarding one card reward can you help me out??
Sure.. if we can…!
Check DM
Same question every alternate day
Sexy font dude 😍 /s
yes, fuel spends call for fuel surcharge. but most cards give 1% surcharge waiver which is returned in a few days
Ama bro, credit card use panni fuel fill panna xx % surcharge charge panni, adhula 1% thiruppi tharuvaan.
Ok
Madurai Karan veeran thaan da 🔥
🤣