India has a vibrant array of credit cards in the market from airlines/airmiles credit cards to fuel/petrol cards. While some of the cards are great for shopping, there are others that provide the best rewards or cash-back in the market. At FS Desk, we have compiled the list of best credit cards in India as of 2015. Read on and choose smartly.
Best Credit Cards in India in 2015 by categories
Best Credit Card Issuers in India (2015)
In 2014-15, while some of the large banks have put their open-market credit card sourcing on hold, many new banks are still very aggressive in issuing credit cards. Some of the top issuers of credit cards in India are:
- ICICI Bank – Credit Cards from ICICI Bank, Rewards Program on ICICI Bank Cards
- HDFC Bank – Credit Cards from HDFC Bank
- American Express – Amex Credit Cards in India
- AXIS Bank – Credit Cards from AXIS Bank, Rewards on Axis Bank Cards
- Standard Chartered Bank – Credit Cards from Standard Chartered (StanC) Bank
- HSBC Bank – Credit Cards from HSBC Bank India
- Citibank India – Credit Cards from Citibank India
- IndusInd Bank – Credit Cards from IndusInd Bank
- RBL Bank – Ratnakar bank which was later re-branded as RBL bank, took over the credit cards portfolio of RBS Bank. Which in turn was the acquired base of ABN Amro Bank. Credit Cards from RBL Bank(Ratnakar Bank)
Check the updated list of top Credit cards in India in 2016
What are Petrol or Fuel Credit Cards
Some credit card issuers have started waiving this fuel surcharge on specific products. Thereby making their products very lucrative for petrol spends. Such cards are generally referred to as the Petrol Credit Card or Fuel card. The credit cards that provide additional savings or provide better rewards for fuel purchases can be of two types – cobranded or rewards.
Fuel expenses are typically a substantial chunk of an urban credit card holders spends. Hence most Credit card companies in India have either a co-branded offering or some exlcusive benefits for customers buying petrol/fuel on their cards.
Petrol pump transaction on credit card have traditionally invited a 2.5% fuel surcharge on the bill amount. This fuel-surcharge is in most cases passed back to the customer and shows up as a separate entry in the card’s monthly statement. learn why there is a fuel surcharge on petrol transaction.
In a co-branded card the rewards or petrol surcharge waiver would apply only if the fuel is bought from the specific oil company that the card issuer has partnered with. E.g. Citibank has a tie-up with IOC. ICICI bank has tieup with HPCL. There are others where the benefits apply for transactions at all petrol/gas stations.
Top Fuel / Petrol Credit Cards in India:
- Citibank Petrol Credit Cards – Citibank India has a long standing tie-up with Indian Oil Coporation (IOC) and has multiple cobranded products like IndianOil Citibank Platinum Credit Card, Citibank IndianOil Titanium Credit Card. Both these cards offer a full fuel surcharge waiver
- HDFC Fuel Credit Card – Most HDFC Bank Credit Cards offer fuel surcharge waiver with specific conditions on the ticket size of the transaction. So any of the leading HDFC Cards would be a good fuel card to choose.
- SBI Petrol Credit Cards – Most SBI Credit Cards also provide a waiver to the fuel surcharge, subject to certain conditions like – each fuel transaction should be between Rs 500 and Rs 3000. The total amount of surcharge will not exceed Rs 100/- in any given billing month.
- ICICI Bank Petrol Credit Cards – ICICI bank has a strategic partnership with HPCL. Its co-branded series of cards with HPCL provide not only the 2.5% fuel surcharge waiver, but also 5 Payback points for every Rs 100/- spent at HPCL outlet. E.g. ICICI Bank HPCL Platinum Credit Card or ICICI Bank HPCL Titanium Credit Card
- Fuel Benefits on HSBC Credit Card- HSBC Credit cards also provide a blanket waiver of fuel surcharge on all transactions between Rs 400 and Rs 4000/- . Total waiver of fuel transactions is limited to a maximum of Rs 250/- in any given month.
- Standard Chartered Super Value Titanium Card – This card not only provides a waiver of 2.5% but also provides a 2.5% cashback on all fuel spends.
- Axis Bank Petrol Credit Card – The HPCL-Axis Bank-STFC Credit Card provides a 2.5% surcharge waiver on all fuel buys at select HPCL outlets. This is probably the only fuel card which targets truck owners and commercial vehicles and provides them a fuel purchase benefit.
- Bank of Baroda Fuel, Petrol Cards – Most BoB cards give a waiver on the fuel surcharge for transaction amounts between Rs 250 and Rs 2000/-.
Fuel or Petrol cards from Oil Companies in India
Apart from the credit cards, there are loyalty programs available from many of the leading oil companies in India. These are not credit or debit cards but give similar benefits for fuel purchases and in most cases allow the customer to buy fuel on the points earned. Some of these petrol cards are
- Petro Bonus or the Petro Card from Bharat Petroleum
- Shell Cash Card available both as a regular and personalized variant
- PetroCard from Indian Oil Corporation
Also check out our report on the best credit cards in India in 2015