Credit cards are great money saving tools. They enable us to save a lot of money if used wisely. And the best thing about using credit cards is that you don’t even have to pay there and then and yet discounts show up at the end of the month, effectively reducing your credit card bill that you originally had to pay for spending. In this article we will focus on credit cards being offered in Pakistan that give cash back on fuel.
Types Of Fuel Saving Credit Cards:
First of all we should let our readers know how various credit cards work to offer discounts on pretty much everything. For this case, there are three different ways in which credit cards offer these discounts:
1) There are dedicated cards that are made exclusively to spend on fuel and once you spend a set amount then you become eligible for the cash back which is a certain percentage of your total spending on fuel.
2) Next are cards that are not specific to fuel only but give cash back on various kinds of spending for e.g grocery as well as fuel.
3) Lastly come rewards card where you get reward points against your purchases and then you can redeem those reward points to get free fuel or other commodities as per the brands offered by your credit card provider.
Here are a few credit cards that offer cash back on fuel in 2016. This list includes cards that give cash backs on various kinds of services including fuel.
| Credit Card | Spending Cap | Monthly Cash Back | Monthly Cash Back Cap | Annual Fee |
| HBL Fuel Saver Gold | PKR 40,000/month | 5% | PKR 2000 | PKR 5000 |
| UBL PSO Auto Gold | PKR 25,000/month | 5%/1%** | PKR 1250/1000* | PKR 4000 |
| SCB Cash Back | PKR 10,000/month | 5% | PKR 500 | PKR 3000 |
| HBL Fuel Saver Green | PKR 33,300/month | 3% | PKR 1000 | PKR 3000 |
| UBL PSO Auto Basic | PKR 25,000/month | 5%/1%** | PKR 1250/1000* | PKR 2000 |
*PKR 1000 cap on cash back if refuel done from petrol pump other than PSO.
**1% cash back if refuel done from petrol pumps other than PSO.
All annual fees are exclusive of applicable FED.
Next come cards that offer reward points against spending which can be redeemed by getting various services available on your respective credit card. One of these is free fuel. Below listed are the Banks offering such credit cards:
| Credit Card | Reward Points Criteria | Eligibility | Maximum Fuel Limit |
| Faysal Bank mc2 | 1pt/PKR 50 spending 1 reward point = 40 paisa |
N/A | N/A |
Verdict:
Taking the above factors in consideration, we find that the cash back cards turn out to be a better value as they offer instant concessions against your purchases. In the cash back category we find that HBL Fuel Saver cards are the best as they provide the maximum amount of cash back. It’s definitely recommended for those who have a good amount of spending exclusively on petrol such as a case in which one has multiple cars that refuel for a good amount of money. If you think your usage is not specific towards one service only or if you’re spending is lesser then we think that Standard Chartered MasterCard Cash Back would be a good idea as it offers cash back on fuel as well as groceries which is a good idea for those with a family. Last but not the least, Faysal Bank mc2 is a great alternative as well because it offers reward points on all types of spending be it shopping, dining or anything else. You can collect your reward points over a period of time after which you can redeem them to make free purchases from a list of brands that are onboard with Faysal Bank. Hence each card has its own suite of services that cater to various types of spenders and knowing your usage and then selecting a card is the best idea to gain maximum benefit.
Great read. Thanks for this article.