BPCL SBI Credit Card
Gaurav
The SBI BPCL Credit Card, launched by SBI Card in partnership with BPCL, is a fuel credit card designed for entry-level users. It has a low annual fee of Rs. 499. As a fuel card, it offers a total cashback of 4.25% (3.25% in rewards and 1% surcharge waiver) on fuel purchases at BPCL stations.
Apart from fuel benefits, you can earn 5X Reward Points on shopping at departmental stores, dining, movies, and groceries. Since it is an entry-level card, it doesn't offer extra travel or lifestyle perks. If you're looking for more benefits, you might want to check out the BPCL SBI Card Octane.
Keep reading to learn more about this fuel card.
Rewards and Benefits
Movie & Dining
5X Reward Points on movie and dining spends
Domestic Lounge Access
N/A
Rewards Rate
You earn 1 Reward Point for every Rs. 100 spent (0.25% reward rate). You get 5 times the points (1.25% reward rate) on dining, movies, shopping at departmental stores, and groceries. You earn 13 times the points (3.25% reward rate) on fuel purchases at BPCL pumps.
Golf
N/A
Travel
N/A
Insurance Benefits
N/A
International Lounge Access
N/A
Reward Redemption
You can redeem your Reward Points for gift vouchers on sbicard.com or the SBI mobile app, for purchases at BPCL petrol stations, or as a cash credit to your card's statement balance. 4 Reward Points equal Re. 1.
Fees & Charges
Interest Rates
3.5% per month (42% per year)
Spend-Based Waiver
Renewal fee is waived off on a minimum spend of Rs. 50,000 in an anniversary year.
Rewards Redemption Fee
Rs. 99 per redemption request + Tax
Cash Advance Charges
2.5% of the withdrawn amount (subject to a minimum charge of Rs. 500)
Foreign Currency Markup
3.50 +GST
Fuel Surcharge
You get a 1% fuel surcharge waiver on transactions up to Rs. 4,000 at any fuel station in India, with a maximum waiver of Rs. 100 per month.
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.
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