What is a fuel surcharge waiver on a credit credit?

What is a fuel surcharge waiver on a credit credit?

10 October, 2023

Credit Cards have become an integral part of our daily lives today. They offer convenience, various benefits, and savings in different ways, shapes, and forms. Among these savings benefits, Fuel Credit Cards stand out as a popular choice for many people. With the ever-increasing prices of fuel, people are constantly seeking ways to save money on their fuel purchases. This, they can do with the fuel surcharge waiver facility on Credit Cards. Read on to learn about the concept of fuel surcharge waiver, how it works, its benefits, and how you can maximise your savings at fuel stations.

Fuel Credit Cards

Fuel Credit Cards are specialised Credit Cards that are designed to cater to the needs of frequent drivers. These cards come with unique features and rewards that provide users with an opportunity to save on fuel expenses. Fuel Credit Cards typically offer cashback, discounts, or reward points on fuel purchases made at designated fuel stations. One of the main advantages of these cards is the fuel surcharge waiver facility which allows you to save even more on your fuel transactions.

What is a Fuel Surcharge?

Before understanding what is fuel surcharge waiver, it is essential to understand what a fuel surcharge on Credit Card is. A fuel surcharge is an additional fee imposed by Credit Card issuers on fuel transactions. It is normally a small percentage, usually around 1% to 2.5% of the fuel purchase amount or a fixed amount added to the transaction. This surcharge compensates the Credit Card company for the processing costs associated with fuel transactions at the pump.

How Does the Fuel Surcharge Waiver Work?

The petrol surcharge waiver is a benefit provided by some Credit Card issuers to attract customers and encourage them to use their cards for filling fuel. When you get a waiver on fuel surcharge on Credit Card, it means that you will not have to pay the additional fee on fuel transactions. Instead, the Credit Card company absorbs this surcharge, allowing consumers to save money on their fuel purchases.

Eligibility and Conditions for Fuel Surcharge Waiver

While the surcharge waiver is a lucrative option, it is important for you to be aware of the eligibility criteria and any specific conditions attached to it. Generally, to avail of the petrol surcharge waiver, you will need to adhere to the following conditions:

  • Designated Fuel Stations

    The surcharge waiver is usually applicable only at specific fuel stations tied up with the Credit Card company. You should check the list of partnered fuel stations to ensure you are eligible for the benefit.

  • Minimum Transaction Amount

    Some Credit Cards issuers may impose a minimum transaction amount to avail of the fuel surcharge waiver. This requirement ensures that the waiver is applicable only on substantial fuel purchases.

  • Maximum Waiver Limit

    Credit Cards issuers may set a maximum limit on the surcharge waiver, which is typically applicable only on spends of a certain amount. If you fill fuel amounting to more than a specified amount in a month, you have to bear the surcharge costs on the amount exceeding the maximum waiver limit.

  • Timely Payments

    It is important for you to maintain a good payment history, as some Credit Card issuers may offer the surcharge waiver facility as a reward for timely payments of your total outstanding dues.

  • Annual Fees

    Some Credit Cards issuers offering the diesel and petrol surcharge waiver benefits may levy an annual fee on the cards. Thus, before applying, you should evaluate whether the savings on fuel surcharge outweigh the card’s annual cost.

Maximising Benefits with Fuel Surcharge Waiver

To make the most of the diesel and petrol surcharge waiver and other rewards offered by Fuel Credit Cards, you can implement the following tips:

  • Choose the Right Card

    You should research various Fuel Credit Cards available in the market and select the one that matches your fuel spending habits and preferences. Look for cards that offer the highest cashback or rewards on fuel purchases and have a broad network of partner fuel stations.

  • Plan Fuel Purchases

    To optimise savings, plan your fuel purchases and try to fill up your vehicle at the partnered fuel stations to avail the waiver benefits completely.

  • Combine with Other Offers

    Some fuel Credit Cards issuers may allow you to combine the surcharge waiver with other ongoing promotions or discounts, further enhancing your savings.

  • Track Rewards and Benefits

    Keeping a track of your cashback, rewards, and surcharge waiver benefits regularly is vital. Doing so can help you understand how much you are saving, and how much you can save on fuel costs, enabling you to utilise the rewards effectively.

Enjoy Fuel Surcharge Waiver Benefits with HDFC Bank’s Indian Oil Credit Cards.

If you are someone who travels by road regularly, and are looking for a Credit Card that can help you enjoy higher savings on your fuel costs, consider applying for the HDFC Bank Indian Oil Credit Card. The Indian Oil Credit Card by HDFC Bank is an excellent tool designed exclusively to help you reduce your fuel costs and generate more savings. It offers generous rewards and cashback on Indian Oil fuel purchases, cutting down on your fuel expenses significantly. With added benefits like discounts on dining and other expenses, this card is a must-have for frequent commuters and Indian Oil users.

Save more each time you refuel with Indian Oil Credit Cards from HDFC Bank.

​​​​​​​*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Credit Card approvals at the sole discretion of HDFC Bank Limited. Credit Card approvals is subject to documentation and verification as per Bank’s requirement. Interest rates are subject to change. Please check with your RM or closest bank branch for current interest rates.

Save more each time you refuel with Indian Oil Credit Cards from HDFC Bank.

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