Whether it’s commuting to work or going on weekend outings, travelling can be heavy on your pockets because of the rising fuel costs. Thankfully, a credit card with a fuel surcharge waiver can help you save on your fuel costs significantly and make payments more convenient for you.
Know how fuel surcharge waiver on credit cards works, the benefits it offers and some key tips to select the right card.
Understanding Fuel Surcharge Waiver on Credit Cards
Before understanding about fuel surcharge waiver, you need to know the meaning of a fuel surcharge. When you pay for fuel refills at a petrol station using your credit card, you need to pay an additional fee known as a fuel surcharge.
This charge is typically a percentage of the amount over and above the cost of the fuel. Various credit card issuers don’t apply the fuel surcharge when you make payment for fuel refills for your vehicle at petrol stations. This is exactly what a fuel surcharge waiver is.
A fuel surcharge waiver on a card works in the following way:
- Automatic Deduction: When you swipe your card to purchase fuel, the issuer automatically waives the fuel surcharge amount.
- Eligible Transactions: The waiver is applicable to card transactions that you make at participating fuel stations that accept the waiver offer.
- Terms and Conditions: Before using your card, make sure to read through the terms and conditions of your card agreement to thoroughly understand the eligibility requirements and any restrictions linked to the waiver offer.
Key Benefits of Fuel Surcharge Waiver on Credit Cards
Here are some of the top benefits that cards with this facility offer:
Cost-effective Solution
One of the most significant advantages of using a credit card with this facility is that you save quite a lot on your fuel refills. Every time you pay for fuel at petrol stations via your card, the usual fuel surcharge that ranges from 1% to 3% gets waived.
Since you don’t have to pay this additional charge over and above the cost of the fuel, the total fuel cost comes down. In the long run, these waivers allow you to save a significant amount.
Enhanced Fuel Efficiency
If you know you won’t have to pay the extra surcharge for fuel every time, fuel refills may become much more affordable for you.
In turn, you may feel more encouraged to fill up the tank of your vehicle more often. This could help you manage your fuel better and even make your car more fuel-efficient.
Promotional Offers
Credit cards, especially fuel credit cards, have tie-ups with an extensive range of petrol stations. By getting your fuel refilled at these partner stations, you enjoy a wide range of benefits. These include:
- Discounts on fuel costs
- Cashback on the total transaction
- Extra reward points
Increased Convenience
When you use a card with a fuel surcharge waiver to fill up your tank, paying at petrol stations becomes much more convenient.
You can just tap or swipe your card to make the payment without any hassles. It allows you to make payments without needing to carry cash, which is inconvenient and prone to loss or damage.
Wide Acceptance
Another great benefit is that credit cards are acceptable everywhere, even at petrol stations all over the country. This way, you don’t have to worry about whether you can pay for fuel with this card in different cities or states.
More Reward Points
A selling point of credit cards that attracts a wide number of customers is their rewards point system. Every time you make transactions using these cards, including fuel payments, you earn reward points.
You can redeem your accumulated reward points for a wide range of products and services, such as:
- Gift cards
- Vouchers
- Cashback
Extra Perks
In addition to the waiver of fuel surcharges, paying through credit cards also offers a plethora of extra benefits. These include:
- Roadside assistance for vehicle breakdown or damages
- Premium services at some petrol stations
- Discounts and offers for shopping and dining
- Travel benefits like complementary insurance, free airport lounge access and discounts on bookings
- Discounts on lifestyle and entertainment services, such as gyms, spas, events and clubs
Tips to Maximise Your Benefits with Fuel Surcharge Waivers
To get the best benefits and make your fuel refills more cost-efficient, here are some tips you can consider:
- Research various credit cards available in the market and choose one that suits your fuel spending habits and preferences.
- Look for cards with the highest cashback or rewards on fuel purchases and an extensive network of partner fuel stations.
- To maximise your savings, plan your fuel purchases and fill up your vehicle at the partnered fuel stations to fully benefit from the waiver.
- Some fuel credit card issuers let you combine the surcharge waiver with other ongoing promotions or discounts, which helps enhance your savings.
- Keep track of your cashback, rewards, and surcharge waiver benefits to assess your savings and optimise the use of rewards effectively.
- Optimise your savings by planning fuel purchases and ensuring they align with the partnered fuel stations to fully leverage the waiver benefits.
The One Credit Card is an excellent option if you’re looking for a card with fuel surcharge waiver. This metal card provides a number of benefits along with extensive rewards. You can get 5X reward points on the top two spending categories, exclusive deals, discounts and much more.
In addition, it also lets you convert your expensive purchases into pocket-friendly, no-interest EMIs. The powerful One Credit Card App lets you apply for the card and manage the payments without any hassles. Apply online via the app or the website for the best experience.
