Welcome to the comprehensive review of the BPCL SBI Card Octane, an upgraded version of the popular BPCL SBI Credit Card. Launched in December 2020, this credit card offering from SBI Card brings a range of enhanced benefits and rewards, making it an enticing option for frequent travelers and fuel enthusiasts. While the Octane variant commands a higher annual fee of Rs. 1,499 compared to its predecessor’s fee of Rs. 499, its impressive features and rewards make it a standout contender in the market.
With the BPCL SBI Card Octane, you can enjoy an impressive 7.25% value back on fuel purchases at Bharat Petroleum fuel stations. This includes 6.25% as reward points with a remarkable 25x reward rate, coupled with an additional 1% fuel surcharge waiver. For individuals who frequently dine out or indulge in movie experiences, the card offers a generous 10x reward points on such expenditures, alongside its enticing fuel benefits.
In terms of travel benefits, the BPCL SBI Card Octane provides cardholders with four complimentary access passes to domestic airport lounges each year, with a maximum of one access per quarter. This feature adds a touch of luxury and comfort to your travel experiences, further enhancing the value of this credit card.
If you are a frequent traveler who relies heavily on your car or motorbike, the BPCL SBI Card Octane stands out as one of the most appealing options available in the market today. Its remarkable reward rate of 6.25% on fuel spends at all BPCL stations across the country, combined with a 1% surcharge waiver (applicable even at non-BPCL stations), sets it apart from the competition.
In this review, we will delve deeper into the features, benefits, and potential drawbacks of the BPCL SBI Card Octane, allowing you to make an informed decision on whether this credit card aligns with your financial goals and lifestyle. So, let’s dive in and explore the enticing world of the BPCL SBI Card Octane.
Features and Benefits
- Welcome Benefits: When you apply for the BPCL SBI Card Octane, you are greeted with an enticing welcome offer. By paying the annual membership fee (not waived off), you can earn 6,000 bonus reward points every time your card membership is renewed, giving you a head start on your rewards journey.
- Milestone Benefits: With the BPCL SBI Card Octane, you have the opportunity to enjoy a waived annual renewal fee for the following year. Achieve this benefit by making annual expenditures of Rs. 2,00,000 or more, unlocking savings and adding value to your credit card experience.
- Travel Benefits: For those who love to travel, this credit card offers an impressive perk. You gain access to four complimentary domestic airport lounge visits every year, with the allowance of one visit per quarter. This benefit adds an element of comfort and luxury to your journeys, providing a serene and relaxing space to unwind before your flights.
- Dining and Movie Benefits: Indulge in dining experiences and enjoy movies with added rewards. With the BPCL SBI Card Octane, you earn reward points at an accelerated rate of 10x (10 reward points for every Rs. 100 spent) when dining at select restaurants. Additionally, you can accumulate up to 7,500 reward points per month through these dining expenditures, further enhancing your rewards potential.
- Fuel Surcharge Waiver: Fuel transactions become more rewarding with the BPCL SBI Card Octane. You can avail a convenient 1% waiver on the fuel surcharge for transactions up to Rs. 4,000 at all petrol pumps across India. Please note that the maximum waiver amount is capped at Rs. 100 per month, providing a consistent benefit for your fuel purchases.
BPCL SBI Credit Card Octane Rewards
- Fuel Transactions: With the BPCL SBI Card Octane, fueling up at BPCL fuel stations becomes even more rewarding. Every time you spend Rs. 100 on fuel transactions at BPCL stations, you earn an impressive 25X reward points. This translates to 25 reward points for every Rs. 100 spent on fuel, allowing you to accumulate rewards quickly. It’s important to note that the maximum reward points you can earn for fuel transactions in a billing cycle is 2500, adding a cap to this rewarding category.
- Dining, Departmental Stores, and Movie Ticket Purchases: Treat yourself to dining experiences, indulge in shopping at departmental stores, and enjoy the latest movies with the BPCL SBI Card Octane. For these expenditures, you earn 10x reward points, meaning 10 reward points for every Rs. 100 spent. This attractive reward rate allows you to earn rewards while enjoying your favorite activities. With a maximum monthly cap of 7500 reward points for dining, departmental store, and movie ticket purchases, there is ample opportunity to accumulate rewards in these categories.
- All Other Expenditures: Even on your regular everyday expenditures, the BPCL SBI Card Octane continues to reward you. For all other non-fuel, non-dining, non-departmental store, and non-movie ticket transactions, you earn 1 reward point for every Rs. 100 spent. This ensures that no matter where you use your card, you are always earning rewards that can be redeemed for exciting benefits and offers.
It’s important to keep in mind that reward points are not earned on fuel purchases made at non-BPCL stations and mobile wallet uploads. However, with the generous reward rates offered by the BPCL SBI Card Octane, you can still accumulate substantial rewards on your everyday spending, maximizing the benefits of this credit card.
Eligibility Criteria:
- No Fixed Eligibility Criteria: The BPCL SBI Credit Card Octane does not have any specific or fixed eligibility criteria. However, SBI Card provides a portal called Simplyfier that helps individuals assess which SBI credit card best suits their needs. By utilizing this tool, you can explore various credit card options and determine if the BPCL SBI Card Octane aligns with your requirements and preferences.
- Age Requirement: To be eligible for an SBI credit card, including the BPCL SBI Card Octane, the applicant must be above 18 years of age. This ensures that the individual possesses the legal capacity to enter into a credit card agreement.
- Stable Income: A stable income is an essential factor considered by the bank when evaluating credit card applications. Applicants should have a regular and consistent source of income to demonstrate their ability to make timely repayments on their credit card dues. This criterion helps the bank assess the applicant’s financial stability and creditworthiness.
- Good Credit History/Score: Maintaining a good credit history and score is crucial when applying for any credit card, including the BPCL SBI Card Octane. The bank typically assesses an applicant’s creditworthiness by reviewing their credit history and credit score. A good credit history, characterized by responsible borrowing and timely repayments, enhances the chances of approval for a credit card application.
How to Apply for BPCL SBI Credit Card Octane?
Applying for the BPCL SBI Credit Card Octane is a straightforward process that can be done through both offline and online channels. Here’s a step-by-step guide to help you apply:
Offline Application
- Visit the nearest branch: To apply offline, you can visit the branch of State Bank of India (SBI) nearest to you. Approach the customer service desk and express your interest in applying for the BPCL SBI Credit Card Octane. They will provide you with the necessary application form to fill out.
- Complete the application form: Fill in the required details accurately and thoroughly on the application form. Ensure you provide all the necessary information, such as personal details, employment details, income information, and any other required documentation.
- Submit the application: Once you have completed the application form, submit it at the branch. The bank officials will guide you through the further steps of the application process.
Online Application
- Visit the official website: Access the official website of SBI Card by typing in the correct URL in your web browser.
- Browse SBI Credit Cards: On the website, navigate to the page displaying various categories of SBI Credit Cards.
- Find the BPCL SBI Card Octane: Look for the BPCL SBI Card Octane under the relevant category, such as travel and fuel.
- Click on ‘Apply Now’: Once you locate the BPCL SBI Card Octane, click on the ‘Apply Now’ button associated with it.
- Follow the application process: Follow the instructions provided on the application page and proceed accordingly. You may need to provide personal and financial details as well as any necessary documents.
Whether you choose to apply offline by visiting a branch or opt for the convenience of online application, be sure to provide accurate and complete information to enhance your chances of approval.
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FAQs
What makes the BPCL SBI Card Octane stand out among other fuel credit cards?
The BPCL SBI Card Octane offers a unique combination of high reward rates on fuel purchases, attractive benefits such as airport lounge access, and accelerated rewards on dining and movie ticket expenses. Its comprehensive package makes it an appealing choice for individuals who frequently use their vehicles and seek additional perks.
What is the annual fee for the BPCL SBI Card Octane?
The BPCL SBI Card Octane has an annual fee of Rs. 1,499, which is higher compared to the standard BPCL SBI credit card. However, the enhanced rewards and benefits provided by the Octane variant make it a worthwhile option for frequent fuel purchasers.
Is there a waiver on the annual fee for the BPCL SBI Card Octane?
Yes, the annual fee for the next year can be waived off if you achieve an annual expenditure of Rs. 2,00,000 on the card. Meeting this milestone benefit enables you to enjoy savings on the annual fee for the subsequent year.
Are there any limitations on earning reward points with the BPCL SBI Card Octane?
Reward points are not earned on fuel purchases at non-BPCL stations and mobile wallet uploads. It’s important to note these exclusions when considering the accumulation of reward points.
Conclusion
The BPCL Credit Card Octane, offered by SBI, stands out as an excellent choice among fuel credit cards in the market. If you are currently using the BPCL SBI credit card, it may be worth considering an upgrade, especially if you prioritise road trips over air travel. It’s important to note that this upgraded card also provides attractive air travel benefits, including four complimentary domestic lounge visits per year.
What did we learn?
