Best Fuel Credit Card - 7.25% Cashback

Summary

This 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.