The IDFC FIRST Power+ is a fuel-focused co-branded card with Hindustan Petroleum (HPCL). It’s the clearest alternative to the SBI BPCL Octane for drivers who fuel at HPCL pumps. The economics are genuinely compelling for regular fuelling, but narrow scope outside fuel limits its use as a primary card.
Fees and charges
| Joining fee | ₹499 + GST |
| Annual fee | ₹499 + GST |
| Welcome benefit | ₹500 cashback on first transaction at HPCL |
| Annual fee waiver | Spend ₹1.5 lakh / year |
| Foreign markup | 3.5% + GST |
| Finance charges | Tiered: 9–42% APR based on credit profile |
How rewards work
- HPCL fuel: 6.5% value back — 5% in IDFC reward points + 1.5% HPCL Pay cashback + 1% fuel surcharge waiver
- Groceries, utilities, departmental stores: 3 reward points per ₹150 (~1.5%)
- Other retail: 1 reward point per ₹150 (~0.5%)
- Reward caps: HPCL fuel capped at ₹1,000 cashback/month; other categories typically uncapped
- Redemption: 1 RP = ~₹0.25 cashback (never expires)
Lounge access
- Domestic: 4 visits/year (quarterly) via MasterCard lounge program
- International: none
Insurance and protection
- Air-accident insurance ₹25 lakh
- Purchase protection cover
- Zero lost-card liability
Spend level where the fee pays off
| Annual fee + GST | ₹589 |
| Welcome benefit | ₹500 |
| Lounge value (year 1, 4 visits) | ~₹3,000 |
| Net cost year 1 | Strongly net positive |
| Break-even on HPCL spend alone (6.5%) | ₹9,100 annual |
Vs. SBI BPCL Octane and ICICI HPCL Super Saver
SBI BPCL Octane targets BPCL (effectively 6.25% on fuel at ₹1,499 fee). ICICI HPCL Super Saver also targets HPCL at ₹999 fee (5% return). IDFC FIRST Power+ undercuts both on fee (₹499) and matches or slightly beats on HPCL rate. Power+ also retains IDFC’s never-expire reward points — a meaningful edge.
Who this card is for
- Best fit: car owners doing ₹20K+ annual HPCL fuel spend
- Best fit: first-time credit card users wanting low fee + lounge access bundle
- Skip if: you fuel at BPCL or IOCL — use brand-specific cards instead
- Skip if: your international spend is meaningful (3.5% forex is steep)
Verdict: The best HPCL co-brand card available right now on fee-to-benefit ratio. Combines IDFC’s never-expire rewards, decent lounge access, and strong HPCL earn rate at a ₹500 price point. Clear winner vs. ICICI HPCL Super Saver if you’re choosing between them.
IDFC FIRST has multiple co-branded fuel cards (Power+, Power—verify which one matches the spec). Check current rewards on the IDFC FIRST Bank website.
This is independent commentary, not financial advice.