BPCL SBI Credit Card – Benefits, Fees & Eligibility

Introduction

The BPCL SBI Card is an entry-level co-branded fuel credit card launched by SBI Card in partnership with BPCL. Designed for everyday users, it offers a total value back of 4.25% on fuel purchases at BPCL stations, which includes a 3.25% reward rate and a 1% fuel surcharge waiver. Beyond fuel, cardholders can enjoy accelerated reward points on common spending categories like dining, departmental stores, groceries, and movies. This card comes with a nominal annual membership fee and provides benefits for essential expenses.

Welcome Benefits

• Get 2,000 Activation Bonus Reward Points worth Rs. 500 on payment of the joining fee.
• Reward Points will be credited after 20 days of the payment of the joining fee.
• These reward points can be redeemed instantly against fuel purchases at BPCL outlets or through the Shop n Smile rewards catalogue.

Fees

• Joining Fee (one-time): Rs. 499 + GST
  • Includes a welcome gift worth Rs. 500.
• Renewal Fee (per annum): Rs. 499 + GST, from the second year onwards.
• Spend-Based Waiver: The renewal fee can be reversed/waived if annual spends for the preceding year are Rs. 50,000 or more.
• Add-on Card Fee (per annum): Nil
• Rewards Redemption Fee: Rs. 99 (plus applicable taxes) per redemption request.
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates:
  • 3.75% Per Month (45% Per Annum).
  • An interest rate of 3.5% per month (or 42% annually) is also mentioned.
• Fuel Surcharge: 1% fuel surcharge waiver on every transaction up to Rs. 4,000 at any BPCL petrol pump across the country.
  • Maximum surcharge waiver is capped at Rs. 100 per billing cycle.
• Cash Advance Charges: 2.5% of the withdrawn amount (subject to a minimum charge of Rs. 500).
• Late Payment Charges:
  • Amount due from Rs. 0 - Rs. 500: Nil
  • Amount due is between Rs. 500 and Rs. 1,000: Rs. 400
  • Amount due is more than Rs. 1,000 and up to Rs. 10,000: Rs. 750
  • Amount due of more than Rs. 10,000 less than Rs. 25,000: Rs. 950
  • Amount greater than Rs. 25,000 but less than Rs. 50,000: Rs. 1,100
  • Amount due is greater than Rs. 50,000: Rs. 1,300
• All applicable taxes would be charged on all fees, interest, and other charges.

Rewards

• Fuel Rewards:
  • 4.25% Valueback (equivalent to 13X Reward Points or 3.25% reward rate plus 1% fuel surcharge waiver) on fuel purchases at BPCL petrol pumps.
  • Earn 13 Reward Points on every Rs. 100 spent on fuel purchases at BPCL stations.
  • Maximum 1300 Reward Points per billing cycle at an accelerated rate for fuel.
  • Annual savings of nearly 50 litres of fuel.
  • Maximum transaction limit for fuel benefits in a billing cycle is Rs. 10,000.
  • No minimum threshold for fuel surcharge waiver; applicable on transactions up to Rs. 4,000.
• Dining, Departmental Stores, Grocery & Movies:
  • Enjoy 5 Reward Points on every INR 100 spent in these categories (5X Reward Points or 1.25% reward rate).
  • Up to 5000 Reward Points per month can be earned at an accelerated rate in these categories.
• Other Retail Purchases:
  • Earn 1 Reward point per INR 100 spent on other retail purchases (0.25% reward rate).
  • Excludes Mobile wallet upload & Non BPCL fuel spends.
• No Reward Points on:
  • Mobile wallet uploads.
  • Non-BPCL fuel spends.
  • Wallet reloads and recharges.
• Missing Benefits:
  • No domestic lounge access.
  • No international lounge access.
  • No golf benefits.
  • No insurance benefits.
  • No specific travel benefits.

Rewards Redemption Guide

• Reward Point Value: 4 Reward Points = 1 INR.
• Redemption Options:
  • Instantly redeem against fuel purchases at select BPCL petrol pumps.
  • Redeem through the Shop & Smile Rewards Catalogue.
  • Redeem against gift vouchers on the SBI rewards portal (rewardz.sbi.bank.in) or on SBI’s mobile app.
  • Redeem against cash (against the card’s statement balance) by writing an email or calling SBI’s customer care.
• Reward Point Expiration: Reward points expire after 2 years (24 months) from the date of accumulation.
• Redemption Resources:
  • Retail outlet list for POS redemption is available on the SBI Card website.
  • Steps to redeem BPCL Fuel e-vouchers at BPCL Retail Outlets are available on the SBI Card website.

Card Review

The BPCL SBI Card is a decent entry-level fuel credit card, offering significant value back on fuel purchases at BPCL outlets and competitive rewards on everyday spending categories. Its low annual fee makes it an accessible option for individuals looking to save on fuel and routine expenses like dining, groceries, and movies. While it lacks premium travel, lounge, or insurance benefits, its strength lies in its core offerings for essential spend categories. It is best suited for individuals who frequently purchase fuel at BPCL stations and wish to maximize savings on their daily expenditure.

Pros

• Offers great reward points on fuel transactions at BPCL petrol pumps across India.
• Available at a low joining cost of Rs. 499.
• Provides rewards on everyday spending like groceries, dining, and movies in addition to fuel savings.

Cons

• Does not offer any domestic or international lounge access.
• No insurance benefits are provided with the card.
• No reward points are earned on mobile wallet uploads and non-BPCL fuel spends.

Important Product Details

• Welcome Offer: Get 2,000 Activation Bonus Reward Points worth Rs. 500 on payment of the joining fee.
• Fuel Benefits: 13X Reward Points on fuel spends at BPCL filling stations (max 1300 Reward Points per billing cycle).
• Fuel Surcharge Waiver: 1% fuel surcharge waiver at all filling stations across India for transactions up to Rs. 4,000 (max waiver capped at Rs. 100 per month).
• Accelerated Rewards: 5X Reward Points on departmental stores, groceries, dining, and movie spends (up to 5000 Reward Points per month).
• Base Rewards: 1 Reward Point per Rs. 100 spent with the card on non-fuel transactions.
• Fee Waiver: Annual renewal fee waived off on expenditure of Rs. 50,000 or more in the preceding year.
• Contactless Payments: Easy and secure transactions by simply waving the card at a secure reader.
• Worldwide Acceptance: Accepted at over 24 million outlets globally, including 3,25,000 in India.

Other Details

• Contactless Advantage:
  • Daily purchases are made easy by simply waving the card at a secure reader.
  • Offers fast, convenient transactions without needing to hand over the card or use cash/coins for small purchases.
  • Enhanced security as the card never leaves your hand, reducing risk of card loss and skimming. Unique security key ensures only one transaction goes through even if waved multiple times.
• Worldwide Acceptance: The BPCL SBI Card is an international credit card usable at over 24 million outlets worldwide, including 3,25,000 outlets in India, accepting Visa or MasterCard.
• Add-on Cards: Cardholders can empower family members (parents, spouse, children, or siblings above 18 years) with add-on cards.
• Utility Bill Payment: Pay electricity, telephone, mobile, and other utility bills using the Easy Bill Pay facility.
• Balance Transfer on EMI: Transfer outstanding balances from other banks’ credit cards to the BPCL SBI Card at a lower interest rate, payable in EMIs. This service can be availed by logging into sbicard.com within 30 days of purchase.
• Flexipay: Convert any purchase of Rs. 2,500 or more into easy monthly installments (Flexipay). Apply by logging into sbicard.com within 30 days of the purchase.
• Order of Payment Settlement: Information regarding the order of payment settlement is available.
• Cheque Payments: Cheques payable outside clearing zones are not accepted. Only local cheques or drafts payable in Delhi are accepted for payment.
• Co-brand Product Funding: The value proposition of this co-brand product may be funded jointly by SBI Card and BPCL based on their financial arrangement, which may involve fee and revenue sharing.
• Customer Assistance: For assistance, call the SBI Card helpline at 39 02 02 02 (prefix local STD code) or 1860 180 1290.
• Credit Limit: The specific credit limit is not revealed in advance and is provided upon card delivery. It depends on factors such as credit history and monthly income.