Tips for maximising fuel savings with your credit card

The rising cost of petrol and diesel is constantly driving commuters and tourists to look for ways to save money at the pump. A good strategy is to take advantage of credit cards with fuel benefits that offer rewards and cashback on fuel purchases. However, with dozens of fuel discount credit cards available, it can be difficult to determine which card suits your needs and spending patterns the best and how to make the most of it.

Credit card strategies for fuel savings
 

You can employ several tactics to optimise fuel savings on credit cards.

• Consider cards that offer high fixed cashback or reward points for every rupee spent on fuel
• Look for cards that reward you for spending beyond petrol
• Make sure the tank is full whenever your cashback is about to be capped. Many cards offer capped cashback like Rs 750/month, so make sure you get the most out of your rewards per fill
• Pay your fuel station bills using a credit card instead of a debit card for an extra layer of rewards and fraud protection
• Consider a co-branded fuel credit card for additional savings at specific fuel retailers across India.

Decoding gas station credit card rewards
 

• Generally, flat cashback cards allow users to earn a fixed percentage of cash back on all fuel purchases
• Tiered cashback cards offer higher rewards for spending thresholds
• Bonus reward points cards provide outsized fuel points that can be redeemed later
• Fuel surcharge waiver offers save you on fuel station service charges

Beyond the pump: Additional credit card perks
 

Savvy credit cardholders leverage other perks beyond just fuel discounts to stretch their money further.

• Credit card rewards on groceries and utility bill payments help you save on monthly essentials
• Complimentary airport lounge access and travel insurance with premium cards provide a stress-free airport experience
• Reward points on other spends like dining, movies, and shopping can be redeemed for cashback or gift cards later
• Select cards typically waive annual fees in your joining year, effectively rewarding you for simply using their card

Making the most of your credit card for gas
 

Here are some tips for maximising fuel offers on your credit card:

●        Track your monthly spend patterns to activate the best cashback slabs

●        Redeem cashback for your next fill to save immediately

●        Use co-branded fuel cards at eligible stations for additional discounts

●        Pay bills on time to build a healthy credit history

The importance of responsible credit card use
 

Credit cards can help you save on fuel without overspending, as long as you follow a few basic rules:

• Pay the entire bill by the due date to avoid costly interest charges
• Utilize no more than 30% of your credit limit
• Cancel rarely used cards to manage credit accounts wisely 

IDFC FIRST Bank credit card for fuel spends
 

If fuel expenses constitute a significant portion of your monthly expenditure, IDFC FIRST Bank offers two specialized credit cards – the FIRST Power and FIRST Power+  - to maximize your savings.

The FIRST Power Credit Card offers:

• Up to 5% savings on fuel
• 2.5% cashback on IDFC FIRST Bank FASTag recharges,
• ₹250 cashback on the first fuel purchase exceeding ₹250

The FIRST Power+ Credit Card further enhances your benefits with:

• 6.5% savings on fuel expenses via rewards and fuel surcharge waivers,
• 5% savings per month on IDFC FIRST Bank FASTag recharge and
• ₹500 cashback on 1st HPCL fuel transaction of ₹500 and above.

Pump up your savings responsibly!
 

The FIRST Power/FIRST Power+ Credit Cards allow fuel-savvy individuals to significantly reduce their petrol and diesel expenses. It is important to regularly review your options to make sure you are using the card that offers the most benefits to you. Moreover, it is vital to maintain financial discipline by repaying on time and preventing debt accumulation to continue enjoying the perks of your credit card. By following such wise practices, you will definitely save money at the pump.

In addition to fuel-related benefits, both cards come with a slew of additional perks to enhance your lifestyle. Enjoy complimentary lounge access, complimentary roadside assistance, and Personal Protection Cover. Furthermore, you can avail of exciting offers from top brands and restaurants, adding even more value to your everyday spending.

Embrace the journey of smart savings and exclusive privileges with IDFC FIRST Bank's FIRST Power and FIRST Power+ Credit Cards - your partners in fuel efficiency and financial empowerment.