what is fuel surcharge waiver

A fuel surcharge waiver is a benefit offered by some credit card companies that exempts cardholders from paying a surcharge when they use their credit card to purchase fuel. This surcharge is a transaction fee charged by merchant banks in addition to the value of fuel purchased and ranges between 1% and 1.7% . The fuel surcharge waiver is the surcharge amount given back to the customer in the form of a refund. For example, if the fuel surcharge is 1%, spending Rs. 2,000 on fuel will amount to a total transaction value of Rs. 2,020. As part of the fuel surcharge waiver, 1% (Rs. 20) will be given back to the customer in the form of a refund. The fuel surcharge waiver is a facility offered by most banks and credit card companies in India, and it usually ranges from 1% to 2.5% . Currently, the fuel surcharge waiver amount comes without any capping, but as per the new update, the fuel surcharge waiver benefit will be capped at Rs. 400 per customer per calendar month.