IDFC HPCL FIRST Power Credit Card
The HPCL IDFC FIRST Power credit card is a fuel-saving credit card launched by IDFC FIRST Bank and HPCL. This RuPay card helps users save up to ₹7,000 yearly, which is about 65 litres of fuel. Users can get discounts at over 20,000 HPCL petrol pumps by paying through the HP Pay App. Besides fuel savings, the card also offers reward points on daily expenses like groceries, utility bills, FASTag recharges, and UPI transactions. These points never expire and can be redeemed anytime for various products and vouchers. The card includes welcome benefits worth up to ₹1,400, it has an annual fee of ₹199, which is waived if the user spends ₹50,000 in a year.
The card comes in two versions—Power and Power Plus—and is designed to help users save on fuel while also offering lifestyle perks. It provides up to 5% savings on fuel and has a low-interest rate starting at 9% per year. Users can also earn extra rewards by referring friends to apply for the card. This partnership between IDFC FIRST Bank and HPCL aims to make fuel and travel costs more affordable while helping people manage their expenses better. With fuel discounts, reward points on everyday spending, and exclusive merchant deals, this card offers both savings and convenience.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
Can I apply for the FIRST Power credit card online?
Yes, you can apply through the IDFC FIRST Bank website, mobile app, or HPCL’s website. You can also visit a nearby IDFC FIRST Bank branch to apply.
Can I get the FIRST Power credit card if I already have an IDFC FIRST Bank credit card?
No, existing cardholders of IDFC FIRST Bank are not eligible to apply for this credit card.
What are the different variants of the FIRST Power credit card?
The card comes in two options: FIRST Power and FIRST Power+ credit cards, allowing users to choose based on their needs.
Is there a way to get the annual fee waived?
Yes, if you spend ₹50,000 or more within a year, the ₹199 annual fee will be waived.
Does the FIRST Power credit card have a lifetime free option?
No, the card requires a one-time joining fee of ₹199 plus applicable taxes.
Do the reward points on this card expire?
No, reward points never expire. They can be used for online and offline purchases at select merchants or redeemed for vouchers and products from the Reward Redemption catalog.
How many reward points can I earn for referring a friend?
You can earn up to 10,000 reward points by referring others. Each successful referral grants you 2,000 reward points.
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