Best Credit Card for Petrol

Best Credit Card for Petrol Discounts
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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 comparison tables below for the best credit cards for the commonly used Grade 95 petrol at each petrol company.

 

Credit Cards with Highest Savings for Petrol
at Esso

Credit Card Discount Cashback Smiles Points Savings

DBS Esso MasterCard

18%

3.2%

2.4%

23.6%

Citi Cash Back Card

14%

6.88%

2.4%

23.3%

OCBC Plus! Visa Card

16%

4.5%

2.4%

22.9%

OCBC 365 Card

16%

4.2%

2.4%

22.6%

OCBC Frank Card

14%

5.2%

2.4%

21.6%

 

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 2.4% discount for drivers who pump 250 litres petrol and above in a month and 1.8% discount for drivers who fail to pump 250 litres in a month.

The DBS Esso MasterCard Card offer savings of up to 23.6% at Esso with a 18% direct discount onsite + 2.4% 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 30 Sep 2020. 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 23.3% with a 14% direct discount onsite + 6.88% cashback + 2.4% Smiles Points. The cashback requires a minimum spend of $888 capped at $25 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 22.9% at Esso.

 

Credit Cards with Highest Savings for Petrol
at Shell

Credit Card Discount Cashback Escape Points Savings

BOC ZaoBao Card

10%

13.5%

1.6%

25.1%

Citi Cash Back Card

14%

6.88%

1.6%

22.5%

UOB One Card

10%

10.8%

1.6%

22.4%

 

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 1.6% 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 1.3% 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 25.1% with a 10% direct discount onsite + 13.5% cash rebate + 1.6% 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 22.48% with a 14% direct discount onsite + 6.88% cashback + 1.6% 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 22.4% savings at Shell with a 10% direct discount on site + 6.3% SMART$ + 4.5% cash rebate + 1.6% 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 2.44% p.a. interest on savings in your UOB One Account.

 

Credit Cards with Highest Savings for Petrol
at Caltex

Credit Card Discount Cashback LinkPts Savings

BOC ZaoBao Card

10%

13.5%

0.9%

24.4%

OCBC 365 Card

18%

4.1%

0.9%

23%

Stan Chart MANHATTAN World MasterCard

14%

6.88%

0.9%

21.8%

HSBC Premier MasterCard

HSBC Visa Platinum Card

16%

4.2%

0.9%

21.10%

Stan Chart Spree Card

14%

6%

0.9%

20.9%

Stan Chart Unlimited Cashback Card

14%

5.6%

0.9%

20.5%

OCBC Frank Card

14%

5.2%

0.9%

20.1%

OCBC VOYAGE Visa Infinite Card

19%

0%

0.9%

19.90%

OCBC Plus! Visa Card

OCBC NTUC Plus! Visa Card

18%

0%

0.9%

18.90%

 

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 0.9% discount for petrol at Caltex.

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 24.4% with a 10% direct discount onsite + 13.5% 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.

Standard Chartered MANHATTAN World MasterCard helps drivers save up to 21.8% at Caltex with a 14% direct discount + up to 6.88% cashback + 0.9% LinkPoints. The savings go up to 23.5% for Caltex Platinum 98 petrol due to a 16% direct discount.

All other Standard Chartered Credit Cards award up to 19.8% savings at Caltex with a 14% direct discount + 0.9% LinkPoints + 4.3% cashback. They can also receive additional 2% direct discount for fuel payment with the CaltexGO App (Until 31 Dec 2020).

The HSBC Premier MasterCard Credit Card and HSBC Visa Platinum Credit Card offer 21.1% savings at Caltex with a 14% direct discount on site + 2% outdoor fuel payment terminal 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.

OCBC Plus! Visa Card, OCBC NTUC Plus! Visa Card ,OCBC 365 Credit Card and OCBC VOYAGE Visa Infinite Card offers 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.

In addition to the mentioned discounts above, first time CaltexGO users will receive a fixed 20% off discount on top of any cashback motorists can receive from their cards. OCBC cardholders can snag another 2% direct discount for first time fuel payment with the CaltexGO App (Until 31 Aug 2020).

 

Credit Cards with Highest Savings for Petrol
at SPC

Credit Card Discount Cashback Savings

UOB One Card

15%

9%

24%

BOC ZaoBao Card

10%

13.5%

23.5%

UOB UnionPay Card

15%

6.6%

21.6%

American Express Credit Cards

15%

6%

21%

POSB Everyday Card

15%

5.1%

20.1%

OCBC Frank 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.

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.

 

Credit Cards with Highest Savings for Petrol
at Sinopec

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 + 1.67% X Points.

All OCBC Credit Cards receive onsite 23% petrol discount at Sinopec. Motorists will be able to get up to 28.5% / 29.3% 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 2 stations at at 301 Yishun Avenue 1 and 623A Bukit Timah Rd.

 

Best Credit Card for Petrol

The OCBC 365 Credit Card gets our vote as it has one of the highest potential savings of 28.5% off petrol. The fact that it provides high savings for petrol at SPC, 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 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 BOC ZaoBao 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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