SBI BPCL CREDIT CARD (2024)

SBI (State Bank of India) and BPCL (Bharat Petroleum) have joined forces to introduce the SBI BPCL Credit Card. Designed as an entry level credit card, this card primarily offers benefits on fuel transactions. If you’re not in need of a petroleum focused credit card, you might want to consider alternatives like the SBI Simply Click Credit Card or SBI Simply Save Credit Card.

Table of Contents

BENEFITS OF THE SBI BPCL CREDIT CARD

Welcome Benefit

Upon joining the SBI BPCL Credit Card and making the required payment, you’ll receive a welcome gift of 2,000 Reward Points, valued at approximately Rs. 500. These points can be redeemed at BPCL petrol pumps for fuel purchases, essentially covering your joining fees.

Value Back Benefit

When you spend Rs. 100 at any BPCL petrol pump, you earn 4.25% cashback in the form of 13 reward points. This translates to a significant cashback potential, with a monthly limit of 1,300 reward points. After accounting for the 1% surcharge waiver, your effective cashback rate becomes 3.25%.

Surcharge Waiver

The SBI BPCL Credit Card offers a 1% fuel surcharge waiver on transactions ranging from 0 to Rs. 4,000. This means you can enjoy a maximum surcharge waiver of Rs. 100 per month.

Milestone Benefit

If you spend at least Rs. 50,000 or more in a year, your annual renewal fees for the next year will be waived. This milestone benefit can be particularly advantageous for individuals heavily reliant on vehicles.

Grocery & Movie Tickets Offers

When using the SBI BPCL Credit Card for purchases at departmental stores, grocery shopping, or buying movie tickets, you earn 1.25% cashback in the form of 5 reward points for every Rs. 100 spent. For other expenses, excluding groceries, movie tickets, and dining, you receive 1 reward point per Rs. 100 spent.

Redemption Options

You can redeem your accumulated reward points in three ways:

Instantly at BPCL petrol pumps.
Through the SBIcard.com website.
By contacting SBI card customer care for assistance.

DRAWBACKS OF THE SBI BPCL CREDIT CARD

While the SBI BPCL Credit Card offers several benefits, it’s essential to consider its disadvantages:

Finance Charges

In case of payment failure or overdue balances, the card incurs a steep finance charge of 3.35%. This can significantly impact your finances, so timely payments are crucial.

Cash Advance Fees

If you use this card for ATM cash withdrawals, you’ll be subject to cash advance fees amounting to 2.5% of the withdrawal amount or Rs. 300, whichever is higher. It’s advisable to avoid using this card for cash withdrawals.

Late Payment Fees

Late payment fees range from Rs. 100 to Rs. 950, depending on your outstanding dues. Paying attention to payment due dates is essential to avoid these charges.

Over Limit Charges

Exceeding your credit limit may lead to overlimit charges, which can vary between 2.5% of the overlimit amount and Rs. 500, depending on the higher value.

FEES FOR SBI BPCL CREDIT CARD

When applying for the SBI BPCL Credit Card, you’ll encounter the following fees:

Joining Fees: Rs. 499 + GST

Annual Fees: Rs. 499 + GST

Second year Renewal Fees: Rs. 499

To avoid renewal fees, make transactions totaling at least Rs. 50,000 with your SBI BPCL Credit Card.

APPLICATION PROCESS

To apply for the SBI BPCL Credit Card, you’ll need basic documents and must meet certain eligibility criteria:

Identity Verification: Aadhaar card, voter card, passport, or driving license.

Income Proof: Three months’ bank statements or salary slips.

Address Proof: Utility bills, ration cards, passports, among others.

The application process is as follows:

Apply online through the SBI Card website.
Provide contact details and complete the application form.
Await a call from SBI for verification.
Pay the annual fee.
Your SBI BPCL Credit Card will be delivered to your address.

FAQs

Can I transfer my outstanding debt from a credit card issued by another bank to the BPCL Credit Card of SBI?

Yes, the BPCL SBI Card includes a ‘Balance Transfer’ feature that allows you to transfer your outstanding balance from another bank’s credit card to your SBI Card. You can initiate this process by contacting the bank and speaking with a representative.

How do I apply for an SBI BPCL Credit Card online?

You can easily apply for this credit card online by visiting the SBI Card official website and completing the application form. If you prefer an offline application, visit a nearby SBI Bank branch and speak with an executive.

What is the SBI BPCL credit card annual fee waiver provided?

You can enjoy a 1% fuel fee waiver on transactions up to Rs. 4,000 at any BPCL petrol outlet in India. However, the maximum waiver is limited to Rs. 100 per billing cycle, which amounts to Rs. 1,200 in annual savings.

How do I use my SBI BPCL Credit Card points at the petrol station?

Your reward points can be conveniently redeemed for free petrol at over 1,200 approved BPCL retail locations nationwide or through BPCL fuel vouchers, which remain valid for six months after issuance. It’s important to note that partial redemption is not allowed.

What is the SBI BPCL credit card maximum limit cross fee?

The BPCL SBI Credit Card incurs a 2.5% overlimit fee if you exceed your credit limit. This fee serves as a reminder to stay within your credit limit to avoid unnecessary charges.

CONCLUSION

In conclusion, the SBI BPCL Credit Card is an excellent choice for those who frequently spend on fuel and wish to maximize their savings. However, it’s essential to be mindful of the associated fees and charges to make the most of this card.