Skip to main content

What is Fuel Surcharge on Credit Card?

 

What is Fuel Surcharge on Credit Card and how to get it waived off ?

With the wide acceptance of credit cards at almost all merchants, A lot of people today carry very less cash in their pockets. This provides convenience to you as there is no need not worry about carrying adequate cash for payments. What you may not know is that for providing you with this ease the merchants bear a cost for every transaction which is payable to the bank. This cost is different for every bank and the type of merchant.

 

Fuel Surcharge
Fuel is a necessary commodity and million of people pay for fuel everyday using their credit card. Now, there is an extra charge to be paid to banks for the use of credit cards to pay, but fuel companies never would want to bear this additional cost for credit/debit card transactions because fuel is a necessity and people will anyways buy fuel no matter what the payment mode is. So they ask their customer to pay the cost attached with making the payment through credit/debit card. which is called Fuel Surcharge and generally its around 2.5% and varies with respect to the relationship between point of sale terminal vendors and the bank of customer.

 

How to get Fuel Surcharge waived off ?
Opt for a fuel based credit card. Banks have found this as a very good space to target a special class of people who get their vehicles fueled frequently and hence most of the banks have launched credit and debit cards with special benefits."Fuel surcharge waiver" and additional benefits on filling fuel using these credit cards is being used as one of the major features. Bank tie-up with fuel companies to design special credit and debit cards with fuel benefits at specific fuel pumps. While other banks offer waiver on all fuel outlets.


Following are some of the fuel credit cards you can apply for and save on your fuel spends:

1. Standard Chartered Super Value Titanium:

  • 5% cashback on fuel, telecom bills & utility bill payments & 1 reward point per Rs. 100 spent elsewhere.
  • 1,000 bonus points on 5 or more transactions in the first 60 days.
  • Redeem reward points 360° rewards catalogue by Standard Chartered Bank.
  • Joining fee – Rs. 499 & Annual fee – Rs. 750 Year 2 onwards.

2. ICICI Bank HPCL Coral:

  • Get 2.5% cashback & 2.5% surcharge waiver & 5 PAYBACK points per Rs. 100 spent at HPCL Pumps.
  • 2 points per Rs. 100 spent elsewhere.
  • Redeem points at PAYBACK, India's largest multi-brand loyalty program.
  • 2 Free movie tickets per month at www.bookmyshow.com.
  • Minimum 15% discount on dining through the Culinary Treats program.
  • Joining fee – Rs. 199 & Annual fee – Rs. 199 Year 2 onwards.

3. IndianOil Citibank Platinum Card:

  • 4 Turbo points per Rs. 150 spent at Indian Oil outlets & other featured partners & 2 points per Rs. 150 spent on grocery & supermarkets.
  • 1 point per Rs. 150 spent elsewhere.
  • Redeem points instantly for cashback or shopping, fuel , entertainment, travel & more.
  • Redemption rate of 1 Turbo Point equivalent to Re. 1 of free fuel at IOC outlets
  • 2.5% fuel surcharge waiver at Indian Oil outlets.
  • Up to 20% discount on dining.
  • Annual fee – Rs. 1,000. (Waived if annual spends cross Rs. 30,000).

There are many more banks and cards which provide a lot of savings on fuel spends and choosing the best one is really important, Rupeepower also helps you comparing cards from different banks.

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

Popular posts from this blog

ICICI Pru Mutual Fund Dividend

ICICI Prudential Mutual Fund has announced dividend under the following schemes: Scheme Dividend ( Rs /unit) ICICI Pru Capital Protection Oriented Ser V Plan B-D 0.03611325 ICICI Pru Capital Protection Oriented Ser V Plan B Direct-D 0.03611325 ICICI Pru Balanced Advantage Direct-DM 0.06 The record date has been fixed as February 08, 2017. ------------------------------ ------ Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds Top 4 Tax Saver Mutual Funds for 2017 - 2018 Best 4 ELSS Mutual Funds to invest in India for 2017 1. DSP BlackRock Tax Saver Fund 2. Invesco India Tax Plan 3. Tata India Tax Savings Fund 4. BNP Paribas Long Term Equity Fund Invest in Best Performing 2017 Tax Saver Mutual Funds Online Invest Best Tax Saver Mutual Funds Online Download Top Tax Saver Mutual Funds  Application Forms For further information contact  SaveTaxGetRich on 94 8300 8300 ------------------------------ ------ Leave y...
Read more

Hidden Bank Fees

  What Banks Hide From Customers Imagine after a peaceful and exciting holiday you receive your bank statement with steep charges. You then rush to your bank and start confronting staff members and to your dismay, you come to know that the high end debit card was charged very heavily. Wouldn't this cause damage to your finances? So remember, the world outside is full of deceptive and double cheating people. Unethical practices are always used by company sales person in order to meet the target. Credit card companies, mutual funds and bank institutions always play dirty tricks to lure customers and the practices are rampant. So here's how you should be careful while dealing with your banks: High End Debit Card Charges While opening an account with a bank you opt for a debit card with minimal charges. But later on when you upgrade your card and opt for high end debit card the annual charge rise by a good amount. Though such a card has slew of features but it all comes at a high ...
Read more

Partial withdrawal from PPF

  Public Provident Fund (PPF) account has a lock in period   If you opened a PPF account to meet your retirement needs,, think twice about withdrawing from this fund before retirement. But provided it's an emergency here are the rules. Public Provident Fund (PPF) account has a lock in period before which you cannot withdraw your money.   The partial withdrawal is allowed after the completion of 6 financial years . This means that you will be allowed a partial withdrawal from 1 April 2017. The maximum partial withdrawal allowed is the least of the following: 50 percent of the account balance at the end of fourth financial year, 31 March 15 50 percent of the account balance of the end of previous financial year, 31 March 17.   There's a loan option available on your PPF account between the fourth and the sixth financial year. You can obtain a loan of up to 25 per cent of the balance in your account. However, this will attract interest of 2 percent more than the prevailing ...
Read more

Updating a minor PAN card upon becoming adults

  Updating a minor's PAN card once they become adults A PAN card issued in the name of a minor does not contain the minor's photograph or signature, and therefore, cannot be used as a valid proof of identity. Once a minor PAN card holder turns 18, the relevant changes must be made in the PAN records. A new card is then issued bearing a photograph and signature. Application The applicant is required to fill up the "Request for new PAN card andor changes or correction in PAN data" form. The form can be filled up online by accessing NSDL's Tax Information Network website and clicking on the online PAN application tab. Information The applicant must mention the existing PAN number in the application and check the `photo mismatch' and `signature mismatch' boxes, and submit the online form. The form must also be printed out, signed by the applicant, and submitted along with two photographs. Documents Identity and address proof in the form of a copy of the app...
Read more

ICICI Prudential Value Fund Series I

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   Performance of the scheme will be benchmarked to the S&P BSE 500 index ICICI Prudential Value Fund is a closeended equity scheme. The scheme will have tenure of three years (1095 days) from the date of allotment of units. Units of the scheme will be fully redeemed at the end of the maturity period, unless rolled over. NFO PERIOD:   The NFO is open from October 18 to 28. The minimum subscription during the NFO period is Rs 5,000. SCHEME OBJECTIVE:   The scheme aims to provide long-term capital growth by investing in a well-diversified portfolio of equity and equity-related securities. INVESTMENT STRATEGY:     The fund proposes to invest in stocks that are trading at a huge discount in the BSE 500 index and plans to book profit and distribute dividen...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now