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Best Credit Card for Petrol

Best Credit Card for Petrol Discounts
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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?

 

Best Credit Cards for Petrol in Singapore

There are a number of credit cards such as DBS Esso MasterCardCiti 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.

 

Best Credit Cards for Esso Petrol

Credit Card Discount Cashback Smiles Points Savings

DBS Esso MasterCard

18%

3.2%

2.5%

23.7%

Citi Cash Back Card

14%

6.88%

2.5%

23.4%

OCBC Plus! Visa Card

16%

4.5%

2.5%

23.0%

OCBC 365 Card

16%

4.2%

2.5%

22.7%

OCBC Frank Card

14%

5.2%

2.5%

21.7%

 

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 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 offer savings of up to 23.7% at Esso with a 18% direct discount onsite + 2.5% Smiles Points + 3.2% cashback. The 3.2% cashback is in the form of $7 cashback with $180 nett spend on Esso Fuel for each calendar month ending 31 Dec 2021. 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 23.4% with a 14% direct discount onsite + 6.88% cashback + 2.5% Smiles Points. The cashback requires a minimum spend of $800 a month.

OCBC Plus! Visa Credit Card awards cardholders with a $15 rebate with min. $300 nett fuel purchase in a month at Esso. This works out to be a 4.2% discount at Esso. The promotion stacks with exisiting 16% direct discount for savings of up to 23.0% at Esso.

 

Best Credit Cards for Shell Petrol

Credit Card Discount Cashback Escape Points Savings

BOC ZaoBao Card

10%

13.5%

1.7%

25.2%

UOB One Card

17%

4.15%

1.7%

22.9%

Citi Cash Back Card

14%

6.88%

1.7%

22.6%

UOB EVOL Card

14%

6.88%

1.7%

22.6%

 

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 1.7% discount. Motorists who pump Shell V-Power Nitro+ will earn 1.2 Shell Escape Points for every litre pumped instead and that is also equivalent to a lower 1.6% discount.

The BOC ZaoBao Card only provides 10% direct discount for motorists but makes it up with a unbeatable cash rebate of 15% for nett fuel spend at Shell. This provides savings of 25.2% with a 10% direct discount onsite + 13.5% cash rebate + 1.7% Escape points. The cash rebate is subjected to a minimum spend of $600 on the card but capped at a low $30 in a month.

Citi Cash Back Card provides savings of 22.6% with a 14% direct discount onsite + 6.88% cashback + 1.7% Escape 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 22.9% savings at Shell with a 17% direct discount on site + 4.15% cash rebate + 1.7% 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 1.25% p.a. interest on savings in your UOB One Account.

 

Best Credit Cards for Caltex Petrol

Credit Card Discount Cashback LinkPts Savings

BOC ZaoBao Card

14%

12.9%

0.9%

27.8%

Stan Chart Unlimited Cashback Card

17%

5.4%

0.9%

23.3%

OCBC 365 Card

18%

4.1%

0.9%

23%

Stan Chart Visa Infinite Cards

17%

4.15%

0.9%

22.1%

OCBC Frank Card

16%

5.04%

0.9%

21.9%

HSBC Premier MasterCard

HSBC Visa Platinum Card

16%

4.2%

0.9%

21.1%

OCBC VOYAGE Visa Infinite Card

19%

0%

0.9%

19.9%

OCBC Plus! Visa Card

OCBC NTUC Plus! Visa Card

18%

0.2%

0.9%

19.1%

 

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 0.9% discount for petrol at Caltex.

Caltex is encouraging users to use its CaltexGO App for payments and is offering additional 2% direct discount on top of credit card discounts by paying with Standard Chartered Credit Cards (16% direct discount), OCBC Credit Cards (18% direct discount) and HSBC Credit Cards (16% direct discount) on the CaltexGO App. They also offer 14% direct discount for all other MasterCard or Visa credit cards. (Until 31 Dec 2021)

In addition, first time CaltexGO users will receive a fixed 23% off discount on top of any cashback motorists can receive from their credit cards. OCBC cardholders can snag another 2% direct discount for first time fuel payment with the CaltexGO App (Until 31 Dec 2021). For simplicity sake, the calculations featured below  assume discounts based on regular user discounts instead of first time user discounts.

Similar to the cash rebate for Shell, the BOC ZaoBao Card only provides 10% direct discount for motorists puming fuel at Caltex but makes it up with a unbeatable cash rebate of 15% for nett fuel spend. This provides savings of 27.8% with a 14% direct discount + 12.9% cash rebate + 0.9% LinkPoints. The cash rebate is also subjected to a minimum spend of $600 on the card capped at $30 in a month as mentioned earlier.

Stan Chart Unlimited Cashback Card and Stan Chart Visa Infinite Cards receive $3 off with minimum $60 nett spend at Caltex. The discounts add up to 22.1% savings for Stan Chart Visa Infinite Card at Caltex with a 17% direct discount + 0.9% LinkPoints + 4.15% discount and 23.3% savings at Caltex for Stan Chart Unlimited Cashback Card which is able to stack its 1.5% cashback for all purchases.

OCBC Plus! Visa Card, OCBC NTUC Plus! Visa Card, 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% savings at Caltex with 18% direct discount + 4.1% cash rebate + 0.9% LinkPoints.

HSBC Premier MasterCard Credit Card and HSBC Visa Platinum Credit Card offer 21.1% savings at Caltex with a 16% direct discount + 4.2% cash rebate + 0.9% 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 Visa Platinum 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.

 

Best Credit Cards for SPC Petrol

Credit Card Discount Cashback Savings

UOB EVOL Card

20%

6.4%

26.4%

UOB One Card

20%

4%

24%

BOC ZaoBao Card

10%

13.5%

23.5%

American Express True Cashback Card

15%

7.3%

22.3%

POSB Everyday Card

15%

6.8%

21.8%

UOB UnionPay Card

20%

1.6%

21.6%

American Express Credit Cards

15%

6%

21%

OCBC Frank Card

15%

5.1%

20.1%

UOB Credit Cards

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 newly launched UOB EVOL Card lets motorists enjoy up to 26.4% savings at SPC with a 15% direct discount + 5% petrol discount + 6.4% mobile contactless cashback. However, the 6.4% cashback is only capped at $20 a month for all mobile contactless spend and chances are you will only be able to receive around 5.4% cashback assuming you hit exactly $600 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 24% savings at SPC with a 15% direct discount + 4% 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.

Similarly to the cash rebate for Shell and Caltex, the BOC ZaoBao Card provides 10% direct discount for motorists at SPC and provide potential savings of 23.5% with a 10% direct discount onsite + 13.5% cash rebate.

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 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 Cards for Sinopec Petrol

Credit Card Discount Cashback X Points Savings

OCBC Frank Card

23%

4.6%

1.6%

29.2%

OCBC 365 Credit Card

23%

3.8%

1.6%

28.4%

BOC ZaoBao Card

10%

13.5%

1.6%

25.1%

OCBC Credit Cards

23%

0%

1.6%

24.6%

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 1.6% discount.

All OCBC Credit Cards receive 23% onsite petrol discount at Bukit Timah Sinopec and 20% onsite petrol discount at Yishun Sinopec and Woodlands Sinopec. Motorists will be able to get up to 28.4% / 29.2% savings at Sinopec if they use their OCBC 365 Credit Card / OCBC Frank Card due to the 5% cashback on fuel / 6% 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.

BOC ZaoBao Card provides 10% direct discount for motorists at Sinopec and can help motorists save up to 25.1% with a 10% direct discount onsite + 13.5% cash rebate + 1.6% X Points.

 

Which Credit Card is Best for Petrol?

The OCBC 365 Credit Card gets our vote as it has one of the highest potential savings of up to 28.4% 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 6% cashback for dining and 3% cashback for online, groceries, selected 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 24% savings at Shell and SPC. 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.

 

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