As a vehicle owner, fuel expenses can be hard to predict. Daily commutes are manageable, but errand runs, emergencies, and traffic-heavy days can push costs higher than expected. With fuel prices fluctuating, these unplanned trips can add up quickly. A fuel credit card helps you save on these charges. Learn how in this article.
Benefits of using a credit card for fuel payments
A credit card is a rewarding payment method in terms of savings and overall convenience. Learn how it helps with streamlining fuel spends:
- Rewards for fuel spending
Each fuel payment attracts reward points. A credit card converts your regular expenses into an opportunity to save.
IDFC FIRST Bank rewards you against a nominal fuel refill of ₹100 and ₹150 for HP and HPCL petrol pumps, respectively, with FIRST Power and FIRST Power+ Credit Cards.
- Savings on FASTag recharges
Not exactly a fuel payment benefit, but reward points against FASTag recharges let you save on toll payments. This is especially useful if you frequently travel on highways and expressways.
- Joining benefits
Besides the standard reward points against everyday fuel transactions, you also get a welcome benefit. This includes a ₹500 gift voucher on the first fuel transaction of ₹500 or more using the HPCL IDFC FIRST Power+ credit card.
The HPCL IDFC FIRST Power credit card includes a gift voucher worth ₹250 on the first HPCL fuel transaction of ₹250 or above. An additional rule includes transacting at HPCL stations within 60 days of card set-up.
- UPI efficiency
Since the advent of UPI, many credit cards are optimised for the ease of UPI payments. The same applies to a fuel credit card that also rewards you on all retail transactions through UPI channels. You can earn 3X reward points for every ₹150 spent against the IDFC FIRST Power and Power+ Credit Card.
- Long-term savings
Different reward points against fuel spends, retail transactions, utility payments, EMI conversions, and more contribute to holistic savings. Even a few reward points add up over time to give you greater savings.
Tips to optimise fuel savings with a credit card
Small adjustments to how you spend can help you get more from your fuel credit card:
- Stay consistent
Plan your regular expenses along with fuel payments through the credit card. Avoid switching between options. You can accumulate reward points and happy coins through the HP Pay app until you reach the spending limit per statement cycle.
- Redeem rewards on time
You can enjoy non-expiring reward points on IDFC FIRST Bank credit cards. Despite no validity period, it’s worth redeeming them periodically through the IDFC FIRST Bank mobile app.
You can use them for flight and hotel bookings, fuel payments, and other qualifying spends.
- Add fuel payments to the monthly budget
Since fuel refill is a regular expense, treat it as an essential like other utility bills. This way, you can naturally integrate it into your credit card monthly spending to accumulate rewards effortlessly.
- Plan payments to align with spend caps
Note the monthly spend cap on your credit card and maximum rewards per statement cycle. You can use them as a guideline to optimise your fuel spend without missing out on potential savings.
- Use co-branded fuel credit cards
If you are a frequent commuter, the HPCL IDFC FIRST Power+ is a co-branded fuel credit card worth considering. It offers up to 6.5% savings on HPCL fuel spends, making it a strong choice for regular HPCL fuel users.
Final words
Managing fuel expenses becomes easier with the right credit card. Streamline your fuel payments through a fuel credit card to turn your refills into savings. The small gains on each fuel spend add up to create meaningful savings. You can redeem the accumulated reward points against bigger spends for smarter spending. Take time to understand the rewards structure for fuel and other transactions, and plan your monthly spending around the applicable caps to get the most value.
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