Best Credit Card for Petrol

 

Best Credit Card for Petrol

Credit Cards for Petrol

There are a number of credit cards that provide savings for topping up petrol in Singapore. The savings usually come in the form of direct discount, cash backs or rebates and specific reward points from the petrol company or the bank itself. Trying to figure out how the savings add up can be pretty mind-boggling but let us do the mind-boggling for you and summarise the savings through a comparison tables below for the best credit cards for each petrol company.

 

Credit Cards with Highest Savings for Petrol at Esso

Credit Card Issuer and Type of Credit Card Direct Discount Cashback or Rebates Smiles Points Total Savings

DBS Esso MasterCard

17%

4.1%

2.5%

23.60%

Citi Cash Back Card

14%

6.88%

2.5%

23.38%

OCBC Plus! Visa Card

14%

4.5%

2.5%

21.00%

OCBC 365 Card

14%

4.3%

2.5%

20.80%

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Esso has the largest number of petrol stations around Singapore and is also linked to a number of credit cards for discounts. It is worth noting that credit card discounts can be stacked with Esso Smiles Rewards Program which awards motorists with 1 Smiles Point for every litre of petrol. 750 Smiles Points can be used to redeem $30 worth of petrol and drivers who pump above 250 litres petrol in a month can earn 35% extra Smiles Points. The Smiles Points are equivalent to 2.5% discount for drivers who pump 250 litres petrol and above in a month and 1.9% discount for drivers who fail to pump 250 litres in a month.

The DBS Esso MasterCard Card which offer savings of up to 23.60% at Esso with a 17% direct discount onsite + 4.1% cashback promotion + 2.5% Smiles Points. It is closely followed by Citi Cash Back Card provides savings of up to 23.38% with a 14% direct discount onsite + 6.88% cashback + 2.5% Smiles Points. The cashback requires a minimum spend of $888 capped at $25 a month to earn the cashback.

Lastly, a promotion for OCBC Plus! Visa Credit Card and OCBC 365 Credit Card gives $15 rebate with a min $300 nett fuel purchase in a month at Esso. This works out to be an additional 4.3% discount and the promotion stacks with exisiting OCBC credit card discounts. This allows the OCBC Plus! Visa Credit Card to save up to 21.3% at Esso.

 

Credit Cards with Highest Savings for Petrol at Shell

Credit Card Issuer and Type of Credit Card Direct Discount Cashback or Rebates Escape Points Total Savings

Citi Cash Back Card

15%

6.8%

1.8%

23.38%

UOB One Card

10%

10.8%

1.8%

22.60%

HSBC Premier MasterCard

14%

5.16%

1.8%

20.96%

Shell has a Shell Escape Rewards Program which is similar to Esso Smiles Rewards Program. Motorists are awarded 1 Shell Escape Point for every litre of petrol pumped and will still receive their credit card discounts. 1100 Shell Escape Point can be used to redeem $40 worth of petrol and that is equivalent to 1.8% discount. Motorists who pump Shell V-Power Nitro+ will earn 1.2 Shell Escape Points for every litre pumped instead and that is equivalent to a lower 1.6% discount.

Citi Cash Back Card provides savings of 23.38% with a 5% direct discount onsite + 6.8% cashback + 1.8% Escape points. The cashback is subject to a minimum spend of $888 on the card capped at $25 in a month. The high minimum spending means that you probably have to consolidate your other spending in this card as well. Fortunately, that can be done if you plan your spendings and get 8% cashback on groceries and dining.

The UOB One Card allows up to 22.6% savings at Shell with a 10% direct discount on site + 6.3% SMART$ + 4.5% cash rebate + 1.8% Escape Points. The UOB One Card provides cash back for all spending and it will be a good idea to consolidate your spending under this card. Spending on the card will also help you can get up to 2.43% p.a. interest on savings in your UOB One Account.

In comparison the HSBC Premier MasterCard Credit Card offer 20.96% savings at Shell with a 14% direct discount on site + 5.16% cash rebate + 1.8% Shell Escape points. Shell cash rebates are capped at $120 a quarter and are only awarded with a minimum of $800 charged for all three months in a quarter. Although the minimum spending a month is somewhat lower, the rules concerning this card are kind of restrictive as compared to other credit cards.

 

Credit Cards with Highest Savings for Petrol at Caltex

Credit Card Issuer and Type of Credit Card Direct Discount Cashback or Rebates LinkPoints Total Savings

Stan Chart MANHATTAN World MasterCard

14%

12.64%

1%

27.64%

Standard Chartered Cards

14%

10.06%

1%

25.06%

OCBC 365 Card

14%

7.16%

1%

22.16%

HSBC Premier MasterCard

HSBC Visa Platinum Card

16%

4.2%

1%

21.20%

Since Mar 2016, Caltex has scrapped its Thanks! Rewards Program and has instead linked up with NTUC to be under the Plus! program. Motorists are rewarded with 3 LinkPoints for every litre of petrol pumped and existing credit card discounts will still apply. 150 LinkPoints can be used to redeem $1 across FairPrice supermarkets and their partners and that is equivalent to 1% discount for petrol at Caltex.

All Standard Chartered Credit Cards help drivers save up to 25.06% savings at Caltex with a 14% direct discount + 10.06% rebate with minimum spend of $600 on your Standard Chartered credit card + 1% LinkPoints. This offer stacks with the cashback program for Standard Chartered MANHATTAN World MasterCard allowing up to 27.64% savings at Caltex. A latest promotion also rewards new cardholders with $150 Caltex StarCash card upon approval until 28 Feb 2017.

The OCBC 365 Credit Card allows up to 22.16% savings at Caltex petrol with a 14% direct discount on site + 2.86% cashback + 4.3% cashback + 1% LinkPoints. The 4.3% cashback is subjected to a minimum monthly spend of $600 on this card while the 2.86% cashback is subjected to a minimum monthly spend of $300 at Caltex and expires on 30 Jun 2017. The same card also awards a 16% direct discount and up to 23.86% savings on Caltex Platinum 98 petrol at Caltex.

All other OCBC Credit Cards award up to 17.86% savings at Caltex with a 14% direct discount + 1% LinkPoints + 2.86% cashback.

The HSBC Premier MasterCard Credit Card and HSBC Visa Platinum Credit Card offer 21.2% savings at Caltex with a 14% direct discount on site + 2% outdoor fuel payment terminal discount + 4.2% cash rebate + 1% LinkPoints. However as mentioned earlier, the cash rebates are capped at $120 a quarter and only awarded with a minimum of $800 charged for all three months in a quarter.

 

Credit Cards with Highest Savings for Petrol at SPC

Credit Card Issuer and Type of Credit Card Direct Discount Cashback or Rebates Total Savings

UOB One Card

UOB Visa Signature Card

15%

9%

24%

POSB Everyday Card

15%

5.1%

20.1%

UOB Credit Cards

15%

5%

20%

SPC doesn't have a loyalty program but is able to attract motorists with its consistently slightly lower prices and larger direct discounts.

The UOB One Card entitles up to 24% savings at SPC with a 15% direct discount + 4% cash rebate + 5% petrol discount. The cash rebate is subjected to minimum purchases and minimum monthly spend as mentioned earlier.

All UOB Credit Cards have an additional 5% petrol discount at SPC which is calculated with a $3 petrol discount for every $60 gross spend and the promotion runs out on 31 Mar 2017. This promotion stacks with existing discounts and allows the UOB Visa Signature Card to get up to 24% savings at SPC.

The POSB Everyday Card gives 20.1% cash savings at SPC with 15% onsite + 5.1% cash rebate. This is on top of its many discounts with key merchants.

 

Best Credit Card for Petrol

The UOB One Card gets our vote as it has one of the highest potential savings of 24% off petrol. The fact that it provides high savings for petrol at both Shell and SPC is a bonus. It is also a Cash Back Credit Card making it extremely useful for everyday purchases.

Another credit card worth a mention is the Maybank Family & Friends Card which awards motorists with up to 20.88% savings at leading petrol stations in Singapore. Its flexibility of providing the savings at any petrol station is only outweighed by the need to spend a minimum of $1,000 a month to achieve the mentioned savings. The task to spend more on the card is assisted by the fact that the card is also a Cash Back Credit Card which awards up to 8% cash rebate for a large nunmber of popular merchants.

 

Comments on Best Credit Card for Petrol

 

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