Best Fuel Credit Card - 7.25% Cashback

XY- Axis Education

23 Sept 202411:59

Summary

TLDRThis video discusses the SBI BPCL Octane Credit Card, which offers excellent cashback for fuel purchases. The card provides up to 6.25% cashback on Bharat Petroleum fuel transactions and an additional 1% surcharge waiver. It also includes benefits like dining, grocery, and movie cashback, airport lounge access, and milestone rewards. Despite the annual fee of ₹1499, users can effectively recover this cost through reward points and cashbacks. The video also explains the step-by-step process of applying for the card online, making it an attractive option for frequent fuel consumers.

Takeaways

⛽ The SBI BPCL Octane Credit Card is recommended for saving on fuel expenses.
💳 It offers a 6.25% cashback on fuel purchases, plus an additional 1% for fuel surcharge waiver, totaling 7.25% benefits.
🏷️ The card has a joining fee and annual fee of ₹1499, plus 18% GST.
🎁 As a welcome benefit, users receive 6,000 reward points, equivalent to ₹1500, making the card effectively free for the first year.
🛑 There’s a cap of ₹250 per month on the maximum cashback you can earn from fuel purchases.
🎬 Additional cashback of 5% is available on dining, departmental stores, groceries, and movies.
💼 After spending ₹2 lakh in a year, users can get the annual fee waived for the next year.
✈️ The card also offers access to 4 complimentary airport lounge visits annually.
📝 Users can apply for the card online by filling out their personal, PAN card, and employment details.
📊 The card is especially beneficial for those with heavy fuel expenses, but there are caps in place to limit the total monthly savings.

Q & A

What is the main benefit of the SBI BPCL Octane credit card?
-The main benefit is the 6.25% cashback on fuel purchases at Bharat Petroleum petrol pumps, which helps users save money on fuel expenses.
Why does the SBI BPCL Octane card advertise a 7.25% cashback, but only provide 6.25%?
-The 7.25% includes a 6.25% cashback and an additional 1% fuel surcharge waiver. However, the actual cashback is 6.25%, and the rest is the surcharge waiver.
What are the fees associated with the SBI BPCL Octane credit card?
-The card has a joining fee and an annual fee of ₹1499 each, plus 18% GST. However, users receive 6,000 reward points as a welcome benefit, which offsets the joining fee.
How can users apply for the SBI BPCL Octane credit card?
-Users can apply by following a step-by-step process on the official website, starting with personal details, mobile number verification, city selection, PAN card details, and employment information.
What is the maximum cashback a user can earn per month with this card?
-The maximum cashback a user can earn on fuel purchases is ₹250 per month, regardless of how much they spend on fuel.
What are some other cashback categories offered by the SBI BPCL Octane credit card?
-Apart from fuel, users can earn 5% cashback on dining, departmental store purchases, movie tickets, and grocery shopping.
Does the SBI BPCL Octane card offer airport lounge access?
-Yes, the card offers four complimentary airport lounge accesses per year.
How can users waive the annual fee for the second year?
-Users can waive the annual fee by spending ₹2 lakhs in the previous year.
What is the milestone benefit of the SBI BPCL Octane credit card?
-If users spend ₹3 lakhs in a year, they can earn additional milestone benefits, including ₹2000 in rewards.
How does the card’s reward system work for new users?
-Upon joining, users receive 6,000 reward points as a welcome benefit, which is worth ₹1500 and helps offset the joining fee.