SBI Card and Bharat Petroleum have announced the launch of the BPCL SBI Card, claimed to be the ‘most rewarding fuel co-branded credit card in the country.’

Launched on the Visa platform, the card offers 2,000 bonus points worth ₹500 on payment of joining fee. The annual membership fee is ₹499, which will be reversed on annual spends of ₹50,000 or more Apart from savings of up to five per cent on fuel purchases, the BPCL SBI Card will offer up to 70 litres of free fuel per year to cardholders, according to an official spokesman. Cardholders can earn rewards and save on fuel at 14,000 Bharat Petroleum fuel stations across the country. There will be no minimum transaction threshold for fuel spends, enabling customers to save with every swipe of their card. It offers 5X reward Points on every ₹100 spent at departmental stores & grocery, movies & dining and utility bills payment through standing instruction.

For other categories of products. Vijay Jasuja, CEO, SBI Card, said that fuel is a key expenditure category in the consumption basket and contributes between 7-10 per cent to overall spend in its portfolio.

“Together with providing industry best fuel benefits, our endeavour has been to make this a holistic credit card catering to all the major spending needs of a card holder.” “With the move towards cashless payments, fuel spends through cashless modes are on rise. We believe that the BPCL SBI Card will further encourage consumers to move their fuel spends to credit cards,” Jasuja said.

Arun Singh, Executive Director (Retail), Bharat Petroleum, said that the BPCL SBI Card will initially be accepted at 1,200 select pumps in major cities, before gradually expanding reach in the network.

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