Fuel is one of the biggest recurring expenses for most Indian households. Between office commutes, running errands and weekend drives, a significant chunk of your monthly budget goes toward filling up the tank. With ever-increasing fuel prices in India, vehicle owners are always looking for ways to save on their fuel expenditure. And one way to do so is the use of the Indian Oil Credit Card option.
If you are wondering how to maximise your savings with this spending tool, here is a complete guide to help you.
What is an Indian Oil Credit Card?
An Indian Oil Credit Card is a co-branded Credit Card offered in partnership with Indian Oil. It is designed to reward users who frequently shop at Indian Oil outlets, offering benefits such as cashback, reward points, or discounts on fuel and other purchases.
Although you can use it like a regular Credit Card anywhere, the card provides maximum advantages when spending specifically at Indian Oil locations. This makes it ideal for those with regular fuel expenses.
These Credit Cards differ from the general reward cards, which spread their rewards across multiple categories like dining, travel, shopping and movies. A specialised fuel card mainly focuses on fuel benefits. So it becomes the right choice only when fuel is a meaningful percentage of your monthly expenses.
How do fuel cashback and fuel reward points actually help you save?
Fuel card savings usually come in two forms: direct cashback and fuel reward points. On the surface, they may seem small per swipe, but when fuel is a monthly fixed requirement, these benefits add up month after month and create visible annual savings.
Let us consider the following example for simple understanding:
| Monthly fuel expense | Typical monthly reward | Approx. annual benefit |
| ₹4,000 | 4% of 4000 = ₹160 | ₹1920 |
| ₹5,000 | 4% of 5000 = ₹200 | ₹2400 |
Moreover, most Indian Oil Credit Cards also waive the typical fuel surcharge, which is 1%. This alone is a silent but meaningful savings every time you refill your fuel tank.
However, savings can only be maximised when used correctly. To make the most out of fuel benefits:
- Fill petrol only at authorised Indian Oil stations
- Avoid splitting transactions unnecessarily
- Track the expiry of fuel reward points at least quarterly
Other benefits of the Indian Oil Credit Card
- Similar to any Credit Card, Indian Oil Credit Cards also offer welcome benefits. You can enjoy bonus reward points when you activate the card, which you can redeem on your first purchase at an authorised Indian Oil outlet.
- These Credit Cards are also designed to offer instant discounts on movie ticket bookings.
- Moreover, the card also provides value back on online shopping.
- These Credit Cards also award you when you spend above a specific amount during the anniversary year.
Who can buy an Indian Oil Credit Card?
You can apply for the Indian Oil Credit Card if:
- Your age is between 18 and 70 years of age; add-on cardholders must be above 15 years of age.
- You are a resident or non-resident Indian
- You should also be able to produce a few documents, including a PAN Card, proof of income and proof of address.
Conclusion
Fuel is an essential part of our day-to-day life and the costs associated with it are non-negotiable. If it forms a big part of your monthly spending, using an Indian Oil Credit Card is one of the simplest ways to reduce the cost.
When used strategically, it becomes a cost-saving strategy that benefits you every month.
