BPCL SBI Octane Credit Card
In late 2020, SBI Card launched the BPCL SBI Card Octane Credit Card, an upgraded version of the original BPCL SBI Credit Card. It became very popular quickly because of its better rewards, though it comes with a higher annual fee of ₹1,499, compared to ₹499 for the original card.
The Octane card gives 7.25% value back on fuel purchases at BPCL stations, with 6.25% returned as reward points and an extra 1% fuel surcharge waiver. It also offers 10X reward points for dining and movie ticket purchases.
For travel perks, the card includes four free visits to domestic airport lounges each year, with a limit of one visit per quarter. This affordable lounge access is hard to find at this price. The Octane card is ideal if you travel by car or motorbike, as you can earn a 6.5% reward rate on fuel purchases at BPCL stations, plus a 1% surcharge waiver that applies even at non-BPCL stations.
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 can I do if I don’t receive accelerated reward points for a BPCL fuel pump purchase?
If you don’t get your accelerated reward points, raise a support request on the SBI Card mobile app with the transaction details. SBI Card will review it and issue the points if needed.
How much do I need to spend to get the annual fee waived for the BPCL SBI credit card OCTANE?
You can get the annual fee waived if you spend ₹2 Lakh or more in a year.
Is the BPCL SBI credit card OCTANE available on the RuPay network?
Yes, it is available on the RuPay network.
What is the value of reward points for BPCL SBI credit card OCTANE?
Each reward point is worth ₹0.25.
How long are the reward points valid?
The reward points are valid for 24 months (2 years).
Do I earn reward points at non-BPCL fuel stations?
No, reward points are only earned at BPCL fuel stations, but you do get a 1% surcharge waiver at all fuel stations.
Do I get 6,000 reward points every year when the membership is renewed?
Yes, but only if the membership fee is paid (not waived off for spending less than ₹2 Lakh in the previous year).
Can I redeem reward points to pay my credit card bills?
Yes, you can redeem reward points to pay your bills by contacting customer care.
Can I upgrade from a BPCL SBI Card to the BPCL SBI Octane Credit Card?
No, you cannot directly upgrade. You will need to apply for the Octane card after closing the basic BPCL SBI card.
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