The use of credit cards is becoming as common as cash when it comes to tanking up the car. While plain vanilla credit cards can be used, one also has the option of using pre-paid petro cards and co-branded petro credit cards. Here’s a lowdown of the features, advantages and disadvantages of such instruments.
Pre-paid cards
There are two pre-paid petro cards in the market: HP Smart 1 and BPCL Petro card. A pre-paid card has an electronic chip, which stores information about the amount (in rupees) of fuel that you have loaded in your card. Every time you transact on this card you earn some reward points. To apply for any of these petro cards one needs to fill an application form and pay a one-time joining fee of Rs 250.
The card is received later by courier through a payment receipt which is issued by the retail outlet immediately. In case of the HP card, you can load the card with a minimum amount of Rs 250 and in multiples of Rs 50 thereafter. For a BPCL card, the minimum load amount is
Rs 500 and subsequently you can load the amount in multiples of Rs 100. The cards get automatically debited according to the spends made.
How rewarding are pre-paid cards?
Club HP Smart 1 card provides 5% of the amount spent as rewards. The spend can be on anything, right from petrol/diesel fills to lubricants to car servicing to batteries, etc. All one needs to do is use the HP smart card to pay bills.
The BPCL Petro card, on the other hand, provides you with reward points (called petro miles) for all purchases from any of Bharat Petroleum’s retail outlets in India. The reward points in BPCL’s case differ based on what products are purchased. In case of HP Smart 1, you can encash the rewards accumulated for free fuel. In case of the BPCL Petro card, you can only redeem the petro miles for gifts. The petro miles can either be redeemed at BPCL outlets or through its website.
Co-branded credit cards
Apart from the pre-paid petro cards, you have the option to use a co-branded credit to pay for fuel. These cards do away with the surcharge you pay at fuel filling stations while using a vanilla debit/credit card. The surcharge works out to 2.75 % or Rs 10, whichever is more.
Co-branded credit cards like IOC-Citibank and HPCL-ICICI Bank are the only co-branded petro cards in the market.
IndiaTimes
Pre-paid cards
There are two pre-paid petro cards in the market: HP Smart 1 and BPCL Petro card. A pre-paid card has an electronic chip, which stores information about the amount (in rupees) of fuel that you have loaded in your card. Every time you transact on this card you earn some reward points. To apply for any of these petro cards one needs to fill an application form and pay a one-time joining fee of Rs 250.
The card is received later by courier through a payment receipt which is issued by the retail outlet immediately. In case of the HP card, you can load the card with a minimum amount of Rs 250 and in multiples of Rs 50 thereafter. For a BPCL card, the minimum load amount is
Rs 500 and subsequently you can load the amount in multiples of Rs 100. The cards get automatically debited according to the spends made.
How rewarding are pre-paid cards?
Club HP Smart 1 card provides 5% of the amount spent as rewards. The spend can be on anything, right from petrol/diesel fills to lubricants to car servicing to batteries, etc. All one needs to do is use the HP smart card to pay bills.
The BPCL Petro card, on the other hand, provides you with reward points (called petro miles) for all purchases from any of Bharat Petroleum’s retail outlets in India. The reward points in BPCL’s case differ based on what products are purchased. In case of HP Smart 1, you can encash the rewards accumulated for free fuel. In case of the BPCL Petro card, you can only redeem the petro miles for gifts. The petro miles can either be redeemed at BPCL outlets or through its website.
Co-branded credit cards
Apart from the pre-paid petro cards, you have the option to use a co-branded credit to pay for fuel. These cards do away with the surcharge you pay at fuel filling stations while using a vanilla debit/credit card. The surcharge works out to 2.75 % or Rs 10, whichever is more.
Co-branded credit cards like IOC-Citibank and HPCL-ICICI Bank are the only co-branded petro cards in the market.
IndiaTimes
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