SBI Card cuts fuel surcharge to 1%

New Delhi: SBI Card, with over 4 million customers, on Wednesday slashed fuel surcharge to 1 per cent from 2.5 per cent in line with overall reduction affected by oil marketing companies to promote digital transactions.[caption id="attachment_3366702" align="alignleft" width="380"] Reuters[/caption]“Consequent to the revision in fuel surcharge levy on credit card payments from 2.5 per cent to 1 per cent, fuel surcharge waiver on your SBI card has been revised to 1 per cent w.e.f April 26,” the credit card company said in a statement.SBI Card MD and CEO Vijay Jasuja said the fuel surcharge reduction is in line with the overall reduction done by oil companies. “We have a policy that we will absorb fuel surcharge up to a certain amount. Earlier also we were absorbing the fuel surcharge and now also we are not charging anything to customers,” he said. SBI Card is a joint venture between State Bank of India and GE Capital.