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The Best Credit Card for Petrol Discounts: 6 Options to Consider for Fuel Savings and Discounts

best credit card for petrol
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There’s no better way to start the day than with a great deal on petrol when it comes to driving! There are plenty of credit cards available in Singapore offering generous cashback or bonus incentives on top of standard finance. But which of them provides the best overall package?

If you are searching for the best gas card that can provide you discounts and perks that no other card can give, you’ve come to the right place. The best gas cards give you more than just cheaper fuel. They also provide you with exclusive rewards and offers that can help you save money on regular gasoline.

This article reviews 6 of the best petrol cards that allow you to take advantage of lower fuel prices.

6 Best Petrol Credit Cards in Singapore

 

There are a lot of different banks that offer petrol credit cards in partnership with petrol stations, but we’re not just looking for any credit card–we want the best. The best petrol credit cards in Singapore will have a broader coverage of multiple petrol stations, with the best petrol discounts and petrol savings.

Without further ado, here are some petrol credit card options you should check out.

 

Credit Card Petrol Station Savings/Discounts Minimum spend per month Cashback Cashback cap
Citi Cash Back Esso, Shell, SPC, Caltex, Sinopec Approx. 8-21% $800 6% at restaurants and cafes, 8% on groceries and petrol $80 per month
OCBC 365 Esso, Shell, SPC, Caltex, Sinopec Approx. 5-27% $800 5% on all petrol stations, 6% on dining and online food delivery, 3% on groceries, online grocery delivery, transport (including taxi rides and private hire car rides), utilities, and online travel bookings. $80 per month
UOB One Card Esso, Shell, SPC, Caltex, Sinopec Approx. 5-24% $500-$2,000 3.33% to 5% $300 per quarter
DBS Esso Card Esso 21.20%
Standard Chartered Unlimited Caltex 21.30% $5000 (for first 3 months), none for following months 5% (for first 3 months), 1.5% for following months $250 (for first 3 months), no cap for following months
POSB Everyday Card SPC 20.10% $800 2% on SPC fuel, 5% on groceries at Sheng Siong, 3% at Watsons, Pet Lovers Centre, and dining, and 1% on your electricity or Starhub bills 10% on Deliveroo and Foodpanda food delivery, 5% on some online shopping platforms. $800

 

1. Citi Cash Back Card: Best All-Around Petrol Savings (Fuel Savings at Esso & Shell + Other Petrol Stations)

Most credit cards only offer credit card discounts at specific petrol stations, but that’s not the case with Citi Cash Credit Cards. Like a skeleton key for all kinds of deals at petrol service stations, this card can give you a credit card discount at all petrol stations.

  • Esso: 20.88% fuel savings
  • Shell: 20.88% fuel savings
  • Other petrol stations: 8% cashback

This card is best for people who frequent Esso and Shell but don’t mind going to other petrol stations in particular situations. For example, you never know when you will run out of gas and need an instant refill. With Citi Cash Back, you can get to pump petrol for an instant refill with an instant discount.

The credit card also offers 6% cash rebates at restaurants and cafes and 8% groceries. Cashback is capped at $80 a month!

But of course, there is a catch–to get those juicy cashbacks for petrol, restaurants, cafes, and groceries, you need to be spending at least $800 a month. This might be unlikely for petrol purchases unless you are a Grab driver or travel a lot and are confident you can reach that amount of fuel spend.

Nonetheless, the savings at Esso & Shell are nothing to scoff at, and the discounts at other stations are also a big bonus.

 

2. OCBC 365 Card: Best Fuel Savings at Caltex, Sinopec, Esso

The OCBC 365 Card provides discounts at all the different stations. You can get considerable fuel savings at Esso and all petrol service stations locally, but it also provides the best savings at Caltex and Sinopec.

  • Caltex: 22.1% fuel savings
  • Esso: 20.2% fuel savings
  • Sinopec: 26.8% fuel savings
  • Other petrol stations: 5% cashback

Of course, as one of the best credit cards for petrol, you also get numerous cashback opportunities. You get cash rebates on dining and food delivery at 6% and 3% on groceries, online shopping for groceries, transport like taxis and Grab cars, utilities, and travel with selected airline partners.

To qualify, you need a min. spend of at least $800 in a calendar month, with a cashback cap of $80 per month.

Considering the more diverse spending categories for cashback qualification outside of fuel purchases, you have a better chance of hitting the min. spend requirement.

Even if you don’t, you get the best instant discount at Caltex and Sinopec, with significant savings at Esso–good news for people who have one of those as their preferred petrol station.

 

3. UOB One Credit Card: Best Fuel Savings at SPC & Shell

Using a UOB One card at SPC and Shell stations will give a good credit card discount. UOB is a close partner of Shell and SPC, hence having the best credit card discount for both stations. In addition, you also get cashbacks for other stations.

  • Shell: 21.15% discount
  • SPC: 24% discount
  • Other petrol stations: up to 5% cashback

The UOB One card is said to get you cashback that ranges from 3.33% to 5% on all of your spending, but that will depend on which tier you hit. So how do the tiers work? It might get a little complicated.

To get up to 3.33% cashback, you need a min. spend of at least $500 or $1,000 in all three months of a given quarter. Meaning, you have to spend $500 or $1,000 in each month of a quarter to get a lump sum cashback of $50 at the end of that quarter.

For a 5% cashback, you need a min. spend of $2,000 per month for three months in a quarter, which gives you a nice $300 cash rebate. Note that going over the threshold will not earn you any cashback.

This system might be a little confusing, but consistent spending can get you to the minimum requirements quite quickly. Whether for petrol or miscellaneous expenditures, you easily hit those targets, especially if you regularly spend more than $2,000 monthly.

 

4. DBS Esso Credit Card: Best Esso Fuel Savings

For an instant discount at Esso stations, this card could be the ideal choice. The DBS Esso card offers the highest petrol discount at Esso and is the most straightforward option.

There is no fuel spend requirement and no cap on cashbacks. The only catch is that it’s limited to Esso fuel purchases. And that’s not a bad thing–it only means that you wouldn’t have to worry about hitting minimum requirements and where else to use the card.

To get an instant discount and increased petrol savings, all you have to do is be a faithful Esso pumper. You can get up to 2.4% Smiles savings in addition to 21.2% fuel savings when you use this card to pay together with your Esso Smiles loyalty card.

 

5. Standard Chartered Unlimited Card: No Cap Cashback, Fuel Savings at Caltex

Are you all for simplicity and a discount at Caltex? Then this might be for you. It gives you an unlimited cashback card that yields a flat cashback rate of 1.5% on every purchase, with no minimum spend requirement and no cashback cap.

In your first three months after card approval, you get 5% cashback capped at $250 from up to $5,000 worth of spending, which is a good option for people who are about to make a significant expense.

It also gets you up to a 21.3% instant discount at Caltex petrol stations, valid till 31 December 2021, and is currently the best card for savings at Caltex.

 

6. POSB Everyday Card: Fuel Savings at SPC, Varied Cashback Coverage

The POSB Everyday Card is an SPC credit card for those who like to pump petrol at SPC stations. Your fuel purchase can get a hefty 20.1% instant discount with this card, and till 31 August 2021, you can get a cash rebate of 2% for spending $800 in a month.

You also get a slew of other benefits, including 5% on groceries at Sheng Siong, 3% at Watsons, Pet Lovers Centre, and dining, and 1% on your electricity or Starhub bills, making “Everyday” a valid label.

You can also get a 10% cashback for online food delivery if ordered on Foodpanda and Deliveroo, and 5% on online shopping websites like Amazon.sg and Lazada for an online spend of $800 monthly.

 

The Verdict

The best credit cards will address your specific preferences and situation, but in an overall sense, the Citi Cash Back and OCBC 365 cards provide a complete range of petrol stations.

The Citi Cash credit card is the choice for a better all-around credit card discount for petrol, while OCBC 365 has a minimum spending requirement that’s easier to reach for cash backs.

 

Lady using best credit card for petrol

 

Factors to Consider When Choosing a Petrol Credit Card

1. The Petrol Station You Frequent

When you decide which brands to buy, take into account the experience of using them. Also, look at how often the petrol stations you frequent have special offers or price cuts.

These might seem small, but they add up over time and can help push your overall spending limits lower.

 

2. How Much You Spend a Month

Fuel is a costly purchase, and as a result, people are turning to this alternative to make ends meet. To evaluate the creditworthiness of a product, however, it is vital to consider just how much you really spend.

How do your spending habits relate to credit cards? It’s pointless to take out a credit card that you won’t use. Instead, make sure you know how much you can afford to spend and put that in comparison with the total cost of your petrol bill, including taxes and fees.

 

3. Fees, Reward, and Perks

There are dozens of fuel card options on the market, and selecting the best can sometimes be overwhelming. Every year there are plenty of offers with attractive terms but hidden costs that can dramatically increase the cost of your fuel bill.

When you consider all these factors, putting your best foot forward and taking on the risk becomes a case.

The best way to avoid these hidden costs is by understanding what fees you will be charged when using the relevant card – and comparing these fees against the upfront cost of the petrol itself. Then, look at different cards and ask yourself whether they offer the best combination of costs and benefits.

 

Tips to Save on Petrol Prices with Credit Cards

1. Keep your loyalty card on hand

Keeping your loyalty card with you may seem like common sense, but many people forget to do it. You may be tempted to buy more fuel when the price drops but be careful as some stations may only allow you to buy fuel in small amounts.

Also, many supermarkets and petrol stations have purchase limits which means if you buy more than the minimum amount, you could be charged a surcharge.

The best way to keep your card is to read the fine print on your card’s back and make sure that you have the minimum necessary funds at all times, so you don’t have to worry about running out of money when you need to buy fuel!

 

2. Do not refill your tank unless it is empty

Refilling your empty fuel tank is a great way to save money on petrol. This is because when you top up your tank, you are actually buying another liter of fuel which means that you are also saving the energy costs associated with the operation of the pumps.

It can also offset the costs of buying additional fuel if you drive long distances during periods of low demand on your fuel tank and avoid expensive repair bills in the future.

 

3. Ensure you meet the minimum spending requirements

For the best financial experience, you need to ensure that you get the best deal for your money. That means being aware of the best credit cards with minimum spending requirements.

There are often hidden charges on these cards, which can quickly add up and ruin your budget. So make sure you read through our comprehensive guide before making your initial decision about which card to choose.

 

4. Switch cards when you hit the Cashback cap

There are three main reasons that you should switch card companies when you hit the Cashback limit. First off, it gives your wallet the benefit of having more choices when it comes to cheap or cashback card offers.

You can get offers from different companies that may offer much better value for the same amount of money spent. This method allows you to earn more cashback on top of the cashback you already earn from your current card.

 

The Bottom Line

The best way to get a good deal on a credit card is to shop around. Look at similar offers, read reviews, and ask for recommendations from peers. Then, once you’ve narrowed down your choices, compare them side-by-side to see which ones offer better rewards or lower interest rates.
Check out more for the best cashback credit card Singapore.

It’s the same when it comes to loans. So if you ever find yourself in search of financing, reach out to Loan Advisor. It is a loan comparison site that gives you up to 3 loan quotes from licensed moneylenders in the country that can best address your specific financial need!

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