Is BPCL SBI Card Octane Worth It? Uncovering Benefits, Cons, Fees, Charges, and Eligibility
- Abhijeet Saxena
- Nov 25, 2024
- 3 min read
SBI has launched a number of unique credit cards in India in the past such as the SBI FabIndia Credit Card Select. The BPCL SBI Card Octane is another unique credit card launched in collaboration with BPCL. With a focus on rewarding fuel purchases, this card claims to offers benefits that merit closer inspection. This blog dives into its key features, including benefits, limitations, fees, and eligibility requirements.
Benefits of BPCL SBI Card Octane
The BPCL SBI Card Octane provides an impressive array of benefits, making it especially valuable for frequent drivers.
Fuel Rewards
Creditcard holders will get 25 points on spending every INR 100 at BPCL petrol pumps + Bharat Gas + BPCL fuel lubricants.
Value of 1 point = INR 0.25.
Effective cashback rate: 6.25% (Capped at 2500 reward points per month).
10 reward points on every 100 spent at dining, departmental stores, grocery and movies.
Dining & entertainment cashback rate: 2.5% (Capped at 7500 reward points per month).
1 reward point on INR 100 on all other spends.
Effective general cashback rate: 0.25%
Airport Lounge Benefits
Creditcardholders will get 4 free visits per calendar year to domestic air lounges in India.
Welcome Benefit
Welcome Benefit: Users will get 6000 bonus reward points worth INR 1500 on payment of annual fees.
Milestone Benefits
Creditcard holder gets annual feereversed on spending INR 2,00,000 on the card.
Creditcardholders will get free gift vouchers worth INR 2,000 from Aditya Birla Fashion Or Yatra Or Bata/Hush Puppies on annual spends of INR 3 Lakhs.
Cons of BPCL SBI Card Octane
While the BPCL SBI Card Octane offers numerous advantages, it’s crucial to consider the potential drawbacks.
Low General Cashback Rate
The card gives a low general cashback rate. It is a good card for purchasing fuel but not for shopping in general.
Limited Perks
The card gives the limited number of perks.
Fees and Charges
It is essential for potential users to understand the various fees associated with the BPCL SBI Card Octane.
Annual Fee
The annual fee is a recurring cost and could be waived for the first year or when specific spending limits are met. However, users should be prepared for this expense annually.
Joining Fee
New cardholders may also encounter a joining fee. This fee can vary based on promotions. It's advisable to check the current offers during the application period.
Eligibility Criteria
If you’re considering applying for the BPCL SBI Card Octane, it’s vital to understand the eligibility requirements.
Age Requirement
Applicants must generally be at least 21 years old to be eligible for this card. This age criterion ensures candidates are legally responsible for financial commitments.
Income Criteria
Income is a critical factor for eligibility assessment. Applicants usually need to have a stable source of income.
CIBIL Score
The SBI card does not specify the minimum CIBIL score required for this credit card.
Final Thoughts
The BPCL SBI Card Octane gives one of the highest cashback on fuel. It also offers a few perks. Overall it is a decent credit card. The only con is its low general cashback rate.
While the card’s advantages are compelling, potential users must be aware of the associated costs and limitations. Evaluating your fuel consumption and financial habits can help you decide if this card aligns with your needs.
For the right user, the BPCL SBI Card Octane can serve as a fuel-efficient option for making the most of everyday expenses, turning financial spending into rewarding experiences.
If you want to read a more detailed review of this card and find out its AI-powered unbiased rating click here.
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