Being one of the major and most trusted credit card issuers in India, SBI Card offers a wide range of credit cards targeted at different segments of individuals that might have different requirements. One such segment is the people who frequently purchase fuel. Keeping their requirements in mind, SBI Card tied up with BPCL (Bharat Petroleum Corporation Limited) and launched two credit cards named BPCL SBI Credit Card and BPCL SBI Credit Card Octane. Both these cards might look similar due to their names, but there are so many differences between their features and the charges associated with them.
Individuals who want to get a fuel credit card from SBI Card might get confused between these two. If you are one such person, you might also wonder why there are two credit similar credit cards and not just one. It is because both the cards come with different fee structures and advantages so that each needy individual can get a card according to his/her requirements. The BPCL SBI Card is a basic one that comes with a nominal annual fee whereas the BPCL SBI Card Octane comes with a relatively higher annual fee and greater benefits. To help you choose the one according to your requirements, we are here with this comparison article where we have compared both the cards based on different factors. Keep reading for further information:
BPCL SBI Credit Card
The BPCL SBI Credit Card is the basic one of the two co-branded fuel cards issued by SBI Card. It comes with a nominal joining/annual fee of Rs. 499 and welcomes the customers with a bonus of 2,000 Reward Points and a BookMyShow voucher worth Rs. 250. Talking about its reward rate, the card offers a very good reward rate on fuel purchases and a decent number of rewards in other categories. It is solely aimed at providing the best saving opportunities to those who spend very often on fuel. The following are the detailed features and benefits of the BPCL SBI Card:
- You get a welcome benefit of 2,000 Reward Points (equivalent to Rs. 500) snd a BookMyShow voucher worth Rs. 250 after the successful realization of the joining fee.
- This card offers 13 Reward Points on every spend of Rs. 100 on fuel purchases at BPCL pumps.
- The cardholders can earn 5 Reward Points on every spend of Rs. 100 on groceries, departmental stores, movies, and dining spends.
- On all other purchases, the card offers 1 Reward Point on every Rs. 100 spent.
- The monetary value of 1 Reward point is equal to Re. 0.25 and these points can be redeemed against various options including gift vouchers, products, etc.
- 1% fuel surcharge waiver on all fuel transactions and the maximum waiver is capped at Rs. 100 per month.
- The annual fee of Rs. 499 is waived off on spending a minimum of Rs. 50,000 in the previous year.
BPCL SBI Card Octane
The BPCL SBI Card Octane is the superior version of the BPCL SBI Card and is targeted at those who need a fuel credit card with a higher reward rate and other exclusive features. It charges an annual membership fee of Rs. 1,499 and welcomes the customers with 6,000 bonus Reward Points. With a reward rate of 25x Reward Points on fuel purchases, the card offers a really good percentage of Rewards on other categories as well. One of the exclusive features of this card is that it also offers complimentary airport lounge access at selected domestic airports in India. Other than this, the card has several other features. To understand all of them, refer to the below-mentioned points:
- You get 6,000 bonus Reward Points as a welcome benefit after paying the joining fee. A renewal benefit of 6,000 is also offered every year if the renewal fee has been paid and not waived off.
- The cardholders can earn 25 Reward Points on every spend of Rs. 100 with this card.
- The card offers 10x Reward Points on groceries, movies, dining, etc, and 1x Reward Points (1 Reward Point on every spend of Rs. 100) on other categories.
- The earned Reward Points can be redeemed against various options via the SBI Card internet banking or mobile app. 1 Reward Point = Re. 0.25.
- You get 4 complimentary domestic lounge access every year with this card.
- You get a 1% fuel surcharge waiver on all fuel transactions made with this card.
- The annual fee of Rs. 1,499 is waived off if the cardholder has spent Rs. 2 lakhs or more in the previous anniversary year.
Now, we have discussed the detailed features and benefits of both the BPCL co-branded SBI Credit Cards. Let us now compare them on the basis of different important factors that should be considered:
|Factors||BPCL SBI Credit Card||BPCL SBI Card Octane|
|Complimentary Lounge Access||
Both the BPCL SBI Card and BPCL SBI Card Octane are extremely beneficial for those who frequently purchase fuel from the BPCL stations. The basic one, i.e, the BPCL SBI Card charges a lower annual fee and that’s why it is considered by lots of individuals, especially those who are not very experienced in the credit card world. On the other hand, the BPCL SBI Card Octane offers an amazing Reward Rate on fuel purchases and has some additional benefits, like complimentary airport lounge access. Therefore, one who travels frequently via flights should prefer the Octane Card rather than choosing another one. However, someone who just wants to earn a decent number of rewards on his/her fuel spends can surely go with the BPCL SBI Card as it is affordable for everyone and you can get the renewal fee waived off very easily just by spending Rs. 50,000 in the previous year.
So, none of these cards can be considered the best for each and everyone and neither one can be termed the worst. It totally depends on the requirements and spending habits of an individual. And in order to make a wise decision, it is crucial to analyze your needs first. Think about the reasons why you need a fuel card. If you want it only to earn decent Rewards, choosing the basic one would be a good idea. However, if you are also looking for additional perks like lounge access, then you should go with the superior one without thinking much about its charges.