32 people like this
5.0/5.0 (3 Reviews)Last updated on 2024-10-30
1. Best Credit Cards for Petrol in Singapore
2. Best Credit Cards for Esso Petrol
3. Best Credit Cards for Shell Petrol
4. Best Credit Cards for Caltex Petrol
5. Best Credit Cards for SPC Petrol
6. Best Credit Cards for Sinopec Petrol
7. Which Credit Card is Best for Petrol?
There are a number of credit cards such as DBS Esso MasterCard, Citi Cash Back Card, UOB One Card and American Express True Cashback Card that offer substantial 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 comparison tables below for the best credit cards for the commonly used Grade 95 petrol at each petrol company.
| Credit Card | Discount | Cashback | Smiles Points | Savings |
|
18% |
5.0% |
1.8% |
24.8% |
|
|
16% |
5.0% |
1.8% |
22.8% |
|
|
14% |
6.88% |
1.8% |
22.7% |
|
|
14% |
6.9% |
1.8% |
22.7% |
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 1.8% discount for drivers who pump 250 litres petrol and above in a month and 1.3% discount for drivers who fail to pump 250 litres in a month.
The DBS Esso MasterCard Card offer savings of up to 23.4% at Esso with a 18% direct discount onsite + 1.8% Smiles Points + 5% cashback. The 5% cashback is in the form of $8 + $3 cashback with $180 nett spend on Esso Fuel for each calendar month. This card offers the highest direct discount without any minimum spend for Esso petrol in Singapore and is one of the best card for drivers who are looking for a no-frills credit card for petrol.
Citi Cash Back Card provides savings of up to 22.7% with a 14% direct discount onsite + 6.88% cashback + 1.8% Smiles Points. The cashback requires a minimum spend of $800 a month.
| Credit Card | Discount | Cashback | GO+ Points | Savings |
|
14% |
8.6% |
1.2% |
23.8% |
|
|
17% |
4.15% |
1.2% |
22.4% |
|
|
14% |
6.88% |
1.2% |
22.1% |
Shell has a Shell Escape Rewards Program has been replaced by Shell GO+ effectively from 1 Mar 2023. Under Shell GO+ Program, motorists are awarded 1 Shell Escape Point for every litre of petrol pumped and will still receive their credit card discounts. Motorists who pump Shell V-Power Nitro+ will earn 1.2 Shell GO+ points for every litre pumped instead and that is equivalent to a lower 1.1% discount. 1100 Shell Escape Point can be used to redeem $40 worth of petrol and that is equivalent to 1.2% discount. Unlike the old program, customers can earn 1 point for every $5 spend at Shell Select and 1 point for every $1 spend at Shell Car Wash.
Citi Cash Back Card provides savings of 22.1% with a 14% direct discount onsite + 6.88% cashback + 1.2% GO+ points. The cashback is subject to a minimum spend of $800 on the card. 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 also get 8% cashback on groceries and 6% cashback on dining.
The UOB One Card allows up to 22.4% savings at Shell with a 17% direct discount on site + 4.15% cash rebate + 1.2% GO+ 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 1.00% p.a. interest on savings in your UOB One Account.
| Credit Card | Discount | Cashback | LinkPts | Savings |
|
20.05% |
6.4% |
0.6% |
27.05% |
|
|
17% |
6.64% |
10.6% |
24.24% |
|
|
18% |
4.9% |
0.6% |
23.5% |
|
|
16% |
6.7% |
0.6% |
23.3% |
|
|
17% |
4.2% |
0.6% |
21.8% |
|
|
19.5% |
1.2% |
0.6% |
21.3% |
|
|
17% |
3.1% |
0.6% |
20.7% |
|
|
19.5% |
0.4% |
0.6% |
20.5% |
|
|
19.5% |
0% |
0.6% |
20.1% |
|
|
19% |
0% |
0.6% |
19.7% |
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 2 LinkPoints for every litre of petrol pumped and existing credit card discounts will still apply. 100 LinkPoints can be used to redeem $1 across FairPrice supermarkets and their partners and that is equivalent to 0.6% discount for petrol at Caltex.
Caltex is encouraging users to use its CaltexGO App for payments and is offering direct discounts by paying with OCBC Credit Cards (18% direct discount), Trust Credit Cards (17% direct discount), Standard Chartered Credit Cards (17% direct discount), HSBC Credit Cards (17% direct discount), GrabPay (16% direct discount) and all other MasterCards or Visa Cards (14% direct discount). Stan Chart Visa Infinite Cards, Stan Chart Simply Cash Credit Card, HSBC Premier MasterCard, HSBC Live+ Credit Card and Citi Cash Back Card receive 17% direct discount on CaltexGO App as well. The highest discount on CaltexGO App goes to OCBC VOYAGE Visa Infinite Card with a 19% direct discount on it.
Maybank Credit Card users can enjoy instant 20.05% nett discount (after 2.5% admin fees) at Caltex if they link their card with a Diamond Sky Fuel Card. With the instant discount, Maybank Family & Friends Card can enjoy the highest discount of up to 27.05% off at Caltex.
Citi Cash Back Card cardholders can enjoy up to 24.24% savings with a 17% direct discount onsite + 6.64% cashback + 0.6% GO+ points. Cashback is subject to a high minimum spend of $800 on the card which can be a deterrant for some.
OCBC 365 Credit Card and OCBC VOYAGE Visa Infinite Card receives a direct 18% to 19% discount for any fuel grade at Caltex. This is noteworthy as the credit cards provide the highest direct discount without any minimum spend for petrol in Singapore. Combined with the direct discount, OCBC 365 Credit Card offers a 23.5% savings at Caltex with 18% direct discount + 4.9% cash rebate + 0.6% LinkPoints.
Stan Chart Simply Cash Credit Card, Stan Chart Visa Infinite Cards and Stan Chart Smart Card receive $3 off with minimum $100 spend at Caltex. The discounts add up to 21.3% savings at Caltex for Stan Chart Simply Cash Credit Card which is able to stack its 1.5% cashback for all purchases.
HSBC Premier MasterCard Credit Card and HSBC Live+ Credit Card offer 21.8% savings at Caltex with a 17% direct discount + 4.2% cash rebate + 0.6% LinkPoints. Cash rebates are capped at $250 a quarter and only awarded with a minimum of $600 charged for all three months in a quarter for the HSBC Live+ Credit Card but are less restrictive for the HSBC Premier MasterCard Credit Card which requires a minimum spend of $600 spend per month with rebates capped at $150 a month.
Trust Bank NTUC Link Card and Trust Bank Link Card offer up to 20.7% savings at Caltex with a 17% direct discount + 3.1% LinkPoints rebate subject to monthly minimum spend outside FairPrice Group + 0.6% LinkPoints. The minimum spend is $450 / $350 outside FairPrice Group for the Trust Bank Link Card / Trust Bank NTUC Link Card and spending it on Caltex petrol is one of the best ways to meet the minimum spend as the cards have miserly rebate of only 0.22% on all other spend.
| Credit Card | Discount | Cashback | Savings |
|
20% |
8% |
28% |
|
|
15% |
7.9% |
22.9% |
|
|
20% |
2.7% |
22.7% |
|
|
15% |
7.3% |
22.3% |
|
|
15% |
6.8% |
21.8% |
|
|
20% |
1.6% |
21.6% |
|
|
15% |
6% |
21% |
|
|
20% |
0% |
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 EVOL Card lets motorists enjoy up to 28% savings at SPC with a 15% direct discount + 5% petrol discount + 8% mobile contactless cashback. However, the 8% cashback is only capped at $30 a month for all mobile contactless and online spend and chances are you will only be able to receive around 6.34% cashback assuming you hit exactly $800 spend a month for online and mobile contactless spend. If bean counting is not your thing when it comes to expenditure, you will be more comfortable with the UOB One Card which entitles up to 22.7% savings at SPC with a 15% direct discount + 2.67% cash rebate + 5% petrol discount. The cash rebate is also subjected to minimum purchases and minimum monthly spend but at least it applies to all expenses.
American Express Platinum Cards enjoy additional 7.1% savings via statement credit and when combined with exisiting discounts will grant cardholders 21% savings at SPC.
All UOB Credit Cards have an additional 5% petrol discount at SPC which is calculated with a $3 petrol discount for every $60 gross spend. This promotion stacks with existing discounts and allows the UOB One Card to get up to 24% savings at SPC. Note that UOB cards do not earn any UNI$ or SMART$ at SPC.
The POSB Everyday Card gives 22.9% cash savings at SPC with 15% onsite + 5.1% cash rebate + 2.8% additional cash rebate. $6 additional cash rebate is subject to $180 minimum spend per calendar month. This is on top of its many discounts with key merchants.
| Credit Card | Discount | Cashback | X Points | Savings |
|
23% |
6.2% |
1.1% |
30.3% |
|
|
23% |
4.6% |
1.1% |
28.7% |
|
|
23% |
0% |
1.1% |
24.1% |
Sinopec has a X Rewards Program which is similar to the other Rewards Program mentioned above. Motorists are awarded 1.5 X Point for every litre of Sino X Power petrol pumped and 1 X Point for every litre of other petrol pumped. 90X Points can be used to redeem $3 worth of reward and that is equivalent to 1.1% discount.
All OCBC Credit Cards receive 23% onsite petrol discount at Bukit Timah Sinopec and 18% onsite petrol discount at Yishun Sinopec and Woodlands Sinopec. Motorists will be able to get up to 27.9% / 28.7% savings at Sinopec if they use their OCBC 365 Credit Card / OCBC Frank Card due to the 6% cashback on fuel / 8% cashback with mobile contactless payment. The only drawback is that Sinopec currently only have 3 stations at at 301 Yishun Avenue 1, 623A Bukit Timah Rd and 150 Woodlands Ave 5.
Sinopec also has a direct 23% discount promotion at its Bukit Timah and Woodlands station (weekends only). This is a limited time promotion and using Cashback Credit Cards to earn cash back or Mileage Credit Cards to earn miles is the best way to take advantage of this promotion.
The OCBC 365 Credit Card gets our vote as it has one of the highest potential savings of up to 28.7% off petrol. The fact that it provides high savings for petrol at Esso, Caltex and Sinopec is a bonus. The savings off petrol using this credit card is one of the highest we have ever seen since we started monitoring savings for petrol. However, the higher minimum spend of $800 spend to earn cash rebate could be a stumbling block for some motorists. Fortunately, the same card is also a Cash Back Credit Card with up to 5% cashback for dining and 3% cashback for groceries, recurring bills and transport spend, therefore ensuring that one can still hit the minimum spend of $800 in a month easily.
Another credit card worth a mention is the UOB One Card which awards motorists with up to 22.7% and 22.4% savings at SPC and Shell. It had always been our choice credit card for petrol until it was dethroned by the OCBC 365 Credit Card. This card is also a Cash Back Credit Card which awards up to 5% cash rebate on anything subjected to a minimum spend depending on your cash rebate tier.
The Maybank Family & Friends Card is the best cash back credit card in Singapore 2024.
A straight up comparison of the returns of Singapore savings bonds vs Singapore fixed deposits
Sg
My
