Fuel credit cards are an excellent way to save money on your daily travel expenses. As a result, if you travel in your own vehicle, you are on the right track. The HDFC Credit Card for Fuel is a specialized card issued by the bank that provides incredible savings when you go to fill up your vehicle. Furthermore, it offers a convenient way to redeem your rewards for free fuel. The HDFC Credit Card for Fuel comes with reward points, free membership in the IndianOil XTRAREWARDS Program (IXRP), a 1% fuel surcharge waiver, the ability to redeem fuel points for free fuel, cashback, and other benefits.
Dive deeper into this article to understand all about the HDFC Credit Card for Fuel.
Indian Oil HDFC Fuel Credit Card
HDFC Bank has a special set of credit cards for different sections of society. Similarly, the Indian Oil HDFC Bank Credit Card is designed to make the daily transactions on purchasing fuel affordable. In addition, it provides a slew of other benefits from various categories. The Indian Oil HDFC Fuel Credit Card is one of the Best Fuel Credit Cards available in India.
The Key advantages of the HDFC Credit Card for Fuel are as follows:
- Get 50 liters of free fuel annually.
- At IndianOIl outlets, you can earn up to 5% fuel points.
- 5% fuel points on spending insured for Groceries and Bill Payments.
- Enjoy 1 fuel point for every ₹150 spent on all other purchases.
- Complimentary lifetime membership of the IndianOil XTRAREWARDS Program.
- With Indian Oil Credit Card you will get Revolving credit at the nominal interest rate.
- Zero lost liability protection against any fraudulent transactions.
- Interest-free period of up to 50 days.
- Fuel surcharge waiver of 1%.
- Annual fee reversal on spending INR 50,000 in the first year.
- Flexible EMI option to convert big spending.
- It is equipped with a contactless payment gateway.
- Exclusive Rewards metric system.
- Earn Fuel Points on retail spending.
- Get 5% more Fuel Points when you spend at IndianOil locations, on groceries, or on bill payments.
Fee and Charges
If you are looking for the Best Credit Card for Low Income then this HDFC Credit Card for Fuel is for you. It comes with nominal joining fees and annual charges.
Given below is the fees structure for the Indian Oil Fuel Credit Card:
|Joining Fee||INR 500|
|Annual Fee||INR 500|
(However, on spending INR 50,000 in the first year the annual fee can be reversed)
|Minimum Repayment Amount||5% of retail balance|
|Cash Advance Limit||40%|
|Add-on Card Fee||NIL|
|Cash Advance Charges||2.5% or 500 whichever is higher|
|Late Payment Charges||- For amounts less than INR 100 no Late Payment Charges are applied.|
- Amounts ranging between INR 100 to INR 500 you have to pay up to INR 100.
- A late payment fee of INR 500 is required for amounts between INR 501 to INR 5000.
- You can pay up to INR 600 for amounts ranging from INR 5001 to INR 10,000.
- If the amount is between INR 10,000 and INR 25,000, an INR 800 fee is applied.
- A late payment fee of INR 1100 is levied on amounts ranging from INR 25,001 to INR 50,000.
- Any amount that is greater than INR 50,000 a late payment fee of INR 1300 is charged.
|Charges on Overlimit Account||2.5%|
|Cash Processing Fee||INR 100|
|Reissue of Card||INR 100|
|Rewards Redemption Fee||INR 99 per redemption|
The credit card eligibility required for the HDFC Credit Card for Fuel is described below:
|Salaried Indian citizens are eligible to apply for the Indian Oil Credit Card.||If you are self-employed and have Indian citizenship, you can also apply for the Indian Oil Credit Card.|
|The minimum age should be 21 and the maximum age should be 60.||People aged between 21 to 65 can apply for a credit card.|
|Salaried people must be earning around INR 25,000 per month.||Self-employed individuals must have an annual income of more than INR 6 lakhs.|
How can you redeem fuel points to get free fuel?
Converting your fuel points to get free fuel is ever easy:
- First convert the Fuel Points you have earned into XTRAREWARD Points.
- Go to any participating IndianOil Outlets.
- Use the (XRP) XTRAREWARD Points there.
- You can now get free fuel using the XRP.
Fuel Points Redemption
Redeem the fuel points you have earned using this HDFC Credit Card. Further, you can get free fuel by converting the fuel points. Hence, use the IndianOil XTRAREWARDS Program (IXRP) membership to get free fuel as mentioned above. Moreover, fuel redemption is only available at participating IndianOil Petrol Outlets. Therefore, you can avail of it by converting Fuel Points into XRP. However, 1 Fuel Point equals 3XP (96 Paisa). Remember that the minimum number of fuel points you can redeem at one time is 500.
Steps to redeem fuel points towards XTRAREWARDS Program (XRP):
- Access your NetBanking account.
- Now navigate to the Cards tab and click Enquire.
- On the left screen, select Redeem Rewards Points.
- Choose the Indian Oil HDFC Fuel Credit Card.
- Continue by clicking the button.
- You’ll be taken to the Redemption page.
- Here, go to the IOCL page.
- Enter the number of Fuel Points you want to use in the XTRAREWARDS Program.
- Select the Redeem Now option.
Fuel Points Validity
The fuel points you will receive with the HDFC Credit Card for Fuel has the following validity period:
- Fuel Points are only valid for two years.
- Redemption of Reward Points for Cashback and Travel. Meanwhile, it will be limited to 50,000 points. Further, it is available per month per customer.
- Accumulation of Reward Points on Grocery Purchases. Moreover, it will be limited to 1000 points i.e.. per month per customer.
- No Reward Points accrual on rental and government category payments.
- Pay + Points – Reward Points can be used to pay for up to 70% of your purchase. However, the remaining 30% must be paid through other means.
Why should you apply for an HDFC credit card for fuel?
Indian Oil Fuel Cards is one of the Best HDFC Credit Cards that many people have used. There are several fuel credit cards available, but what makes HDFC Credit Cards for Fuel the best is the benefits it offers. You can get up to 50 litres of fuel for free every year. Furthermore, a 1% fuel surcharge is available, as well as exclusive Fuel Points on other transactions. Besides that, the fuel points you have accumulated can be converted into the XTRAREWARDS Program and used to obtain free fuel. Meanwhile, the Indian Oil Fuel Credit Card is one of the Best Credit Cards available, allowing you to get instant free fuel redemption through net banking
What purchases will not earn you Fuel Points?
For all types of retail spending, you can earn exclusive Fuel Points. It further includes both online and in-store purchases. However, there are a few types of transactions that will not earn you Fuel Points:
- Returned purchases
- Disputed or unauthorized transactions.
- Transactions that are fraudulent.
- EMI Transactions
- Account Fees and Payment
- Purchase of gold coins, jewelry, or any other corresponding items.
HDFC Credit Card for Fuel i.e the Indian Oil is an amazing alternative to saving money. Consequently, it will put less pressure on your pockets and you can drive your vehicle daily. However, by keeping the needs of daily drivers in mind the bank has created the HDFC Fuel Card. Furthermore, the fuel points you will earn are valid for two years. So there’s no need to rush to use those points. Simultaneously, you can continue to accumulate fuel points and redeem them whenever you want.
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