Your comprehensive guide to applying for a fuel Credit Card

A fuel Credit Card can be an effective financial move for anyone who commutes on a daily basis. In today's fast-paced world, where mobility is crucial, owning a fuel Credit Card makes financial sense. Fuel Credit Cards can provide convenience and savings to anyone who relies on their vehicle for daily transportation, whether they are frequent travelers, commuters, or just everyday users. This comprehensive guide will walk you through the process to apply for a fuel Credit Card while outlining its benefits and highlighting important considerations.

Why do you need a fuel Credit Card?

Unlike traditional Credit Cards, fuel Credit Cards are specifically designed to provide benefits and rewards tailored to fuel purchases. By using a fuel Credit Card, you can effectively manage your fuel expenses, earn rewards, and enjoy additional perks such as cashback and discounts on fuel purchases. For instance, the FIRST Power+ Credit Card from IDFC FIRST Bank in collaboration with HPCL offers savings of up to ₹18,500 annually, which is enough to buy over 175 litres of fuel.

In addition, you get several lifestyle benefits, 0% interest on cash withdrawals until the due date, and more. The card is also UPI-enabled to help you transact at over 65 million merchants and brands across the country. 

How to apply for a fuel Credit Card?

1. Research and compare:

Start by researching different fuel Credit Card options available in the market. Look for cards that offer competitive interest rates, rewards, and benefits suited to your needs. Compare features such as annual fees, reward points, and redemption options. The HPCL Credit Card from IDFC FIRST Bank offers low and dynamic interest rates starting at just 9% per annum.

2. Check eligibility criteria:

Before applying for a fuel Credit Card, ensure that you meet the eligibility criteria. Common requirements include minimum age, income criteria, and credit score. Be sure to review these criteria to increase your chances of approval.

3. Apply online or offline:

Most fuel Credit Card issuers including IDFC FIRST Bank offer the convenience of online application. Visit the Credit Card section and apply for a fuel Credit Card online. Alternatively, you can visit the nearest branch to apply offline.

4. Fill out the application form:

Provide accurate information while filling out the application form. Double-check the details to avoid any errors or discrepancies that may delay the processing of your application. Submit the required documents along with the application form.

5. Receive your card:

Upon approval, you will receive your fuel Credit Card via mail or courier at the address provided during the application process.

Benefits of IDFC FIRST Bank fuel Credit Card – The FIRST Power+ Credit Card

1. Fuel discounts:

Fuel Credit Cards offer attractive discounts and cashback on fuel purchases at partner petrol pumps, helping you save money on every fill-up. The HPCL fuel Credit Card (FIRST Power+ Credit Card) offers up to 6.5% savings on your fuel purchases saving up to ₹18,500 annually. Additionally, you also get ₹500 cashback on the first HPCL fuel transaction.

2. Reward points:

Earn 3X reward points for every rupee spent on all UPI and other retail purchases with the IDFC FIRST Bank FIRST Power+ Credit Card and redeem them for a variety of rewards, including vouchers and merchandise. Additionally, you also enjoy 5% savings as rewards on grocery, utility expenses, and FASTag recharges.

3. Additional perks:

In addition to fuel-related benefits, this fuel Credit Cards also come with a range of additional perks such as complimentary airport lounge access, roadside assistance worth ₹1399, personal accident cover of ₹2,00,000 lakhs, and lost card liability cover of ₹50,000. 

Conclusion

Applying for a fuel Credit Card can streamline your fuel expenses, offer valuable rewards and benefits, and enhance your overall financial management. By following the guide outlined above and considering important factors, you can make an informed decision when applying for a fuel Credit Card. Opting for a card with extensive benefits such as the IDFC FIRST Bank FIRST Power+ Credit Card can help you save more on fuel costs and enjoy a range of travel and shopping benefits at the same time. 

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.