Fuel Credit Cards Malaysia
Traveling daily from your residence to the workplace? Or are you someone who lives his life on the road, going places in your personal and professional journey? These cards are designed to make the most out of your commuting and travelling experience while using your own vehicle. That ensures that your next romantic drive remains more romantic and less concerning reimbursements of fuel expenses. Apart from that, these cards also offer the same benefits of conventional credit cards, so booking movie tickets, shopping and travelling also offers reward points or cash back on every expense done. Reward points, cash back offers and a multitude of discounts make these cards even more rewarding.
Why to choose Fuel Credit Cards
Now fuel cards are credit cards in every sense, but with special privileges concerning fuel. So, when you go for a fuel credit card, you know that your expenses regarding petrol and/or diesel are not going to shoot up. Even if initially one doesn’t feel any noticeable difference, the offers and discounts on these cards will make your financial worries lesser.
Benefits and Features of Fuel Credit Cards
Fuel credit cards offer many features specific to the purpose for which they are designed. A few of them are mentioned in the following points –
1. A fuel card in your wallet means you love to drive. Get waivers on fuel surcharges and discounts whenever you fill your sweet ride up
2. Redeemable reward points on every transaction at fuel stations mean you get more options to shop anywhere you go
3. Making the best of a worse day, you don’t need cash to pay for the fuel part of any trip, your plastic money is there to help you out
4. But travelling is not all that you do, do you? When you shop using your fuel credit card, you also gain points and avail discounts at popular stores
5. Pay for your food bills at any place you drive to and avail great discounts at popular restaurants
6. FOREX charges incurred on doing transactions overseas can sometimes be waived off or reversed on some fuel credit cards
7. While buying stuff at convenience stores too, fuel credit cards can aid you in offering rewards points on ringgits spent
Eligibility Criteria to avail Fuel Credit Cards
The basic eligibility criteria for availing a fuel credit card is as follows –
1. You need to be of the age when you can have a driving license and thus, 18 years is the age limit for owning a fuel credit card
2. A valid legal income source and an active bank account is necessary
3. The minimum income level set by many banks is around 50000 Malaysian Ringgits
Applying for Fuel Credit Cards
If one fulfils the basic eligibility criteria, one can get through the application process quite fast while applying for a fuel credit card Whichever bank is chosen, one can visit the requisite section on their website to look at all the cards on offer that give great benefits on fuel. Depending upon the bank specific process, one can get to fill an online form or download an application document which needs to be submitted along with KYC documents. Post verification, within 15 to 20 days, one can receive his/her credit card of choice after the application process is complete. One can view different cards from different banks that offer benefits on fuel through Bbazaar’s website.
One could request a meeting with a bank’s agent to get more insight into the charges and fees associated with the card.
Frequently Asked Questions about Fuel Credit Cards
Q. How can a Fuel Credit Card be used?
A. By its very name, these cards can be used for availing great discounts on fuel expenses.
Q. What are the charges on a Fuel Credit Card?
A. The lower charges on travel cards are at around 15% per annum and the higher charges are at 18% per annum. Islamic credit cards do not have any profit charges.
Q. What is the amount of cash back that can be earned?
A. Along with surcharge reversal, fuel credit cards also offer cash back at the rate of 3% per annum to 8% per annum depending upon the card.
Q. How do I know if I am eligible for a fuel credit card?
A. Being of legal voting age and owing an active bank account with a stable source of minimum income level will make you eligible for a Fuel credit card.
Q. What is the repayment tenure on Fuel credit cards?
A. Monthly dues need to settled without fail and EMIs taken on credit cards need to be paid in full.
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