BPCL SBI Credit Card
The SBI BPCL Credit Card, a collaboration between SBI Card and BPCL, is a fuel-oriented card designed for beginners, with an affordable annual fee of ₹499. It offers a total cashback of 4.25% on fuel purchases at BPCL stations, which includes 3.25% in reward points and a 1% waiver on the fuel surcharge. The card also lets you earn 5X Reward Points on shopping at departmental stores, dining, movies, and groceries. However, since it’s an entry-level card, it doesn’t provide additional travel or lifestyle benefits. If you’re looking for more advanced perks, the BPCL SBI Card Octane may be a better fit.
This credit card is ideal for frequent fuel buyers who want to make the most of their spending. With its strong rewards on fuel purchases, fuel surcharge waiver, and extra benefits on dining and groceries, it offers great value for everyday use. The low annual fee is waived if you meet the spending criteria, making it even more cost-effective. Plus, the card offers multiple reward redemption options, including using them to pay for fuel, adding convenience to your routine purchases.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Before applying for a credit card in India, consider the following factors:
- Eligibility Criteria: Check the age, income, credit score, and employment status requirements set by the bank or financial institution.
- Credit Score: A higher credit score increases your chances of approval and may result in better offers. Ensure your credit score is in good standing.
- Interest Rates and Fees: Compare annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction fees. These can vary significantly between cards.
- Rewards and Benefits: Look for cards that offer rewards, cashback, discounts, or other perks that align with your spending habits.
- Credit Limit: Make sure the credit limit offered is in line with your financial needs. Avoid over-borrowing, which can lead to high-interest charges.
- Repayment Terms: Understand the repayment options, minimum payment amount, and due dates. Consider how easily you can manage timely payments to avoid interest accumulation.
- Card Type and Features: Choose a card type (e.g., standard, premium, travel, etc.) based on your requirements. Some cards offer more benefits for specific categories like travel, shopping, or dining.
- Bank’s Reputation: Opt for a bank with a good track record of customer service and transparency. Read reviews and consider their customer support accessibility.
- Hidden Charges: Be aware of any hidden fees, such as annual fees, balance transfer charges, and cash withdrawal fees.
- Credit Utilization: Ensure you can manage your spending within the credit limit to maintain a healthy credit utilization ratio, which impacts your credit score.
- Long-Term Financial Plans: Think about how the credit card will fit into your long-term financial goals and avoid accumulating unnecessary debt.
What is the annual fee for the BPCL SBI Credit Card?
The BPCL SBI Credit Card charges an annual fee of ₹499 plus GST. However, this fee can be waived if you spend ₹50,000 or more during the year.
Is the BPCL SBI Credit Card a good choice for people who buy fuel regularly?
Yes, if you frequently buy fuel, this card can be very beneficial. It offers high rewards on fuel purchases, a surcharge waiver on fuel, and reasonable annual fees, making it a great choice for regular fuel buyers.
How can I earn reward points with the BPCL SBI Credit Card?
When you use the card for fuel purchases at BPCL fuel stations, you earn 4.25% back on the amount you spend. This means you get a percentage of your fuel spending as reward points.
How can I redeem my reward points earned with the BPCL SBI Credit Card?
The reward points you earn can be used in a few ways. You can exchange them for fuel at BPCL stations, or you can redeem them for gift vouchers and cashback.
Does the BPCL SBI Credit Card offer any fuel benefits?
Yes, it does. The card gives a 1% waiver on the fuel surcharge, but this is only applicable to transactions between ₹500 and ₹4,000 at BPCL stations.
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