POSTED BY October 13, 2013 2:03 pm COMMENTS (2)ON
Any one else has ever faced this problem ? i have an axis bank rewards card which entitles me for a 2.5 fuel surcharge waiver , but it’s around 2-3 months & fuel brought worth 3000+ , But i haven’t received a single penny …
i know that your supposed get the 2.5% as a cash back in the same billing month , well that’s how it works in hdfc. But when i called the axis bank customer care. They say that the petrol pump will give you 2.5 off on the billed amount , Which is total crap.
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2 replies on this article “Fuel surcharge waiver on Axis Bank Rewards Credit Card – Total crap !”
Surcharge is nothing but an extra charge over and above the actual cost of the product when you buy petrol by way of swiping the credit card. Mostly all the credit card companies levy 2.5% surcharge when you swipe your card at the petrol pumps.
So as a privilege some credit companies like HSBC, SBI, HDC, ICICI credit back these surcharge back to you in your account if you fuel it for a certain amount as decided by the respective companies. Hence you need to pay only the purchase cost to the credit card company.
For e.g. If you buy petrol worth Rs. 500 with credit card , you would pay Rs 500 + 2.5% then this 2.5% surcharge is waived and you need to pay only Rs. 500 to credit card companies.
Dear Tushar, surcharge waiver is different than cashback. I think you are getting the surcharge waiver as you are paying only basic amount and 2.5% extra (surcharge on credit card transactions at petrol pumps) is not charged from you. Am I correct?