Best Credit Cards for Petrol Discounts in Singapore

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Best Credit Cards for Petrol Discounts in Singapore

Driving in Singapore has never been inexpensive. Your expenses won’t stop after buying a car and paying for its Certificate of Entitlement (COE). Paying for fuel to get it on the road every day is something that will cost you quite heavily, literally speaking. Whether you choose to fuel-up at Shell, Caltex, Esso, or SPC, the average pump price per litre is nothing under S$2.

So, wondering what’s the best way to cut down your expenses? How about using your credit card? Yup, if you own the right credit card, driving in Singapore or even overseas is about to get a whole lot cheaper!

Related: Average Cost Of Owning A Car In Singapore

Snapshot of how petrol benefits work on your credit card

There are several ways through which your credit card will offer you benefits on fuel purchases. Here’s how such benefits work:

  • Cashback – As the name suggests, if you meet the requirements of the card through your credit card transactions, your account will receive a percentage of the amount you spend at fuel stations.
  • Cash rebate – Similar to cashback, you will earn a rebate on your fuel purchases that can be used in the future for fuel vouchers that will knock off a few (or a lot of) bucks on your petrol expenses.
  • Reward points – Every fuel transaction will earn you a certain number of points which you can accumulate and redeem for discounts, vouchers, instant redemptions or even cash rebate.

Now that we have had the induction on what credit cards in Singapore have to offer in terms of fuel benefits, let’s get down to business.

Here’s everything you’d love to know and what you need to know about fuel credit cards

1. DBS Esso Card

If water to your thirst is Esso to your car, then take a good look at the DBS Esso Card.

What you’d love to know:

  • With the ownership of this card, you will automatically be enrolled in the Esso Smiles Driver Rewards Programme which entitles you to additional fuel savings.
  • Every 1-litre purchase of Synergy fuel will earn you 1 Smiles Point.
  • For the first S$499 that you spend on your card, every S$10 you have spent will earn you 1 Smiles Point.
  • For spends from S$500 up to S$2,500, every S$10 you’ve spent will earn you 2 Smiles Points.
  • You can accumulate your Smiles Points and redeem them for free fuel at Esso.

What you need to know:

  • Poor conversion rate of Smiles Points to fuel redemptions.
    • 300 Smiles Points = S$10 worth Synergy fuel. Which means, to earn 300 Smiles Points, you need to spend S$3,000, where every S$3,000 spend will earn you fuel benefits worth S$10.
    • Or you can spend S$7,500 and earn fuel benefits worth S$30.
  • 1 or 2 Smiles Points per S$10 spent must be charged outside Esso stations.

2. Citi Cash Back Card

If you like seeing the world from behind the wheel, no matter where you go, the Citi Cash Back Card will take care of your car’s thirst for fuel.

What you’d love to know:

  • You will enjoy savings of up to 20.88% at Esso in the following manner:
    • A 5% Esso station discount
    • A 5% Esso Smiles Card discount
    • A 4% Citi card discount
    • An additional 8% Citi Cash Back Card discount on the net amount over and above the Esso station discount
  • You will enjoy savings of up to 22.72% at Shell in the following manner:
    • A 5% Shell site discount
    • A 5% Shell escape discount
    • A 6% Citi card discount on purchase of Shell V-Power Nitro+ petrol and 5% discount on purchase of Shell any other fuel
    • An additional 8% Citi Cash Back Card discount on the net amount over and above the Shell and Citi card discount
  • 8% cashback on any other fuel purchase from any petrol station in Singapore and selected petrol bunks overseas.

What you need to know:

  • The discount up to 22.72% at Shell is a promotion that will expire on 28 December 2017.
  • The 8% cashback on this card is applicable only if you spend at least S$888 per calendar month on retail transactions. You will earn 0.25% cashback on all your fuel spends. The additional 7.75% cashback will be credited the following month if you met the minimum spend requirement the previous calendar month.
  • The additional 7.75% cashback is capped at S$25 per calendar month.

3. OCBC Plus! and NTUC Plus! Visa Credit Cards

If you’re looking for a one-card-fits-all-daily-expenses credit card, then you’re reading about it right now. In addition to covering all your essential expenses, the OCBC Plus! and the NTUC Plus! Visa Credit Cards can enhance your savings at Esso and Caltex.

What you’d love to know:

  • Save up to 18.5% on fuel and Smiles savings at Esso stations in this manner:
    • A 5% Esso station site discount
    • A 5% Esso Smiles Card discount
    • A 4.2% OCBC credit card discount
    • 4.3% OCBC cash rebate
    • 2.4% Smiles Savings
  • Enjoy instant discounts and accumulate LinkPoints at Caltex in this manner:
    • A 5% Caltex site discount
    • A 13% OCBC Plus!/NTUC Plus! Card discount
    • 0.2% LinkPoints per S$1 charged

Note: LinkPoints are a type of rebate offered by OCBC that can be redeemed for vouchers from across different categories like shopping, petrol, dining, groceries, etc.

What you need to know:

  • The OCBC cash rebate on Esso fuel purchases is capped at S$15 when you spend at least S$300 every calendar month.
  • Caltex fuel discount expires on 31 December 2017.
  • LinkPoints rebate conversion is quite poor; every 150 LinkPoints accumulated = S$1. This means every S$750 spent on your card will earn you just S$1.

4. UOB One Card

An all-rounder with a slight peak towards fuel describes the UOB One Card quite accurately. This card is apt for you to earn cash rebate and earn fuel savings.

What you’d love to know:

  • Savings of up to 20.8% at Shell in the manner below:
    • Shell site discount worth S$5
    • Shell Escape Card discount worth S$5
    • 7% SMRT$ rebate earned on the UOB One Card worth S$6.30
    • 5% additional UOB One Card rebate worth S$4.50
  • Savings of up to 24% at SPC in the manner below:
    • SPC and U Card discount of 10% (worth S$6)
    • UOB credit card discount of 5% (worth S$3)
    • Additional S$3 off (5% discount) per S$51 net spend after all applicable discounts or coupons
    • 5% additional UOB One Card rebate worth S$2.40
  • The Great Tanker Giveaway Lucky Draw – stand a chance to win 21,800 litres of petrol from SPC:
    • You will get 1 chance to enter this draw per S$48 net spend at SPC stations using your UOB credit card.
    • You will get 40 chances to enter this draw if you apply for an Auto Loan.
    • 10 Grand Prize winners each will get 1 years’ worth of petrol.
    • 12 Monthly Draw winners will each get S$200 worth SPC petrol vouchers.
    • This promotion expires on 31 January 2018.

Note: 1 SMRT$ = S$1

What you need to know:

  • 5% UOB One Card rebate is only applicable on a cumulative monthly spend of S$2,000 and above.
  • You will earn 3.33% cash rebate (up to S$50) on monthly spend of S$500 or S$1,000 and above for 3 consecutive months.

5. OCBC 365 Credit Card

Savings don’t mean anything unless it’s round-the-clock? Save every day of the year with the OCBC 365 Credit Card.

What you’d love to know:

  • Savings up to 23% at Caltex in this way:
    • Onsite discount of 16% on purchase of Caltex Platinum 98 with Techron and 14% on all other petrol purchases.
    • 5% cashback on your net fuel expenses.
    • 2.8% rebate on your gross fuel expense.
  • Savings up to 18.5% at Esso in this way:
    • A 5% Esso station site discount.
    • A 5% Esso Smiles Card discount.
    • A 4.2% OCBC credit card discount
    • 4.3% OCBC cash rebate
    • Up to 2.8% Esso Smiles Points
  • Enjoy 5% cashback across other fuel stations

What you need to know:

  • Caltex offer expires on 31 December 2017. Also, 2.8% rebate on your gross fuel expense requires a minimum net spend of S$300 per calendar month.
  • To earn the 5% OCBC credit card cashback, you need to spend a minimum amount of S$600 per calendar month.
  • Cashback is capped at S$80 on all categories put together.

Related: Want this card? Here’s our review: OCBC 365 Credit Card Review: High Cashback or Cashback Everyday?

6. HSBC Visa Platinum Credit Card

What you’d love to know:

  • Earn 5% cash rebate on fuel transactions on a minimum spend of S$800 per calendar month.
  • Earn 3% cash rebate on fuel transactions on a minimum spend of S$400 per calendar month.
  • Save up to 18.30% on fuel expenses at Shell in the manner below:
    • 14% savings comprising instant site discount, HSBC card discount, and Shell Escape Card discount.
    • Up to 5% cash rebate on the petrol transaction.
  • Savings up to 16% on fuel expenses at Caltex + up to 5% rebate. Also, earn 3 LinkPoints per litre of fuel purchase.

What you need to know:

  • A minimum spend of S$400 in retail transactions per calendar month is required to earn rebate on fuel purchases.
  • LinkPoints accrual is poor – Every 150 LinkPoints will knock off S$1 from your fuel expense.
  • Shell and Caltex promotions expire on 31 December 2017.

Honorary mention: Maybank World MasterCard

What you’d love to know:

  • Every S$1 spent at petrol stations in Singapore will earn you 10X TREATS Points or 4 air miles.
  • 19.1% savings on petrol if you follow these steps:
  • You need to apply for the Corporate Fuel Card.
  • Pay at the fuel pump using this card and get upfront discount of 15%.
  • Your transaction will also earn you 10X TREATS Points, so you will receive 4.85% worth cash credits to offset your fuel transaction.
  • Your earned TREATS Points do not expire.

What you need to know:

  • You need to accumulate a minimum of 10,300 TREATS Points to redeem cash credits worth S$50, if you wish to offset credits to pay your Corporate Fuel Card bills.
  • 10X TREATS Points on fuel merchants expire on 31 December 2017.

You’ve reached the bottom of our list! You’ve proven yourself to be a petrol head, so tell us, did your favourite card make the cut? Looking to get one from our list?

Disclaimer: All information provided in this blog, published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. 

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