Best Credit Card For Petrol in Singapore

Looking for the best credit card for petrol in Singapore?

If you own a car, you would feel the pinch in your wallet with the recent increase in the cost of living, especially with your monthly expenses for petrol, toll charges, and parking amounting to around S$600.

Amidst these challenges, it’s essential to find ways to save on petrol expenses. We’ve compiled a list of the best credit cards for petrol in Singapore, offering notable fuel discounts. These cards are valuable tools to efficiently manage petrol costs, allowing you to redirect savings to other enjoyable aspects of life.

Compare the Best Petrol Credit Cards in Singapore 

OCBC 365 Card – Best petrol credit card for Caltex

Key Features:

• Fuel Savings: You can get up to 22.92% at Caltex (18% instant discount + 6% cashback).
• Cashback: You can receive 6% on fuel spend at all petrol stations.
• Dining: You can enjoy 5% cashback on dining and online food delivery.
• Groceries: It offers 3% cashback on groceries (both online and in-store).
• Electric Vehicle Charging: It gives 3% cashback on EV charging.

OCBC 365 also stands out for its flexibility, offering benefits for a variety of everyday expenses, not just fuel.

Pros:

• You can receive high cashback on fuel and dining.
• It provides benefits across multiple categories (fuel, dining, groceries).
• It offers low minimum spend required for high cashback.

Cons:

• The card annual fees may seem high compared to other cards.
• The cashback capped at S$160 for high spenders.

Things to Take Note Of:

• Cashback Cap: The cashback is capped at S$80 per month, but spending S$1,600 per month unlocks a higher cap of S$160.
• Spending Categories: The cashback applies to multiple categories, but the full benefits require a consistent monthly spend of at least S$800.
• Fuel Savings: To get the full 22.92% savings at Caltex, cardholders need to make the most of both the instant discount and cashback offer.

DBS Esso Card – Best Petrol Credit Card for Esso

Key Features:

• Fuel Savings: You get up to 23% fuel savings at Esso (18% instant fuel discount + 2.2% Smiles points).
• Motor Insurance: The card offers 0% interest-free installment plans for motor insurance, making it ideal for those who need financial flexibility.
• Loyalty Program: Cardholders are automatically enrolled in the Esso Smiles Driver Rewards program.
• Road Tax: The card provides interest-free installment options for road tax payments, further enhancing its value for car owners.
• Smiles Points: You earn 1 Smile Point for every litre of Synergy fuel purchased at Esso. You can redeem S$10 on fuel with 300 Smiles Points or S$30 on fuel with 750 Smiles Points.

DBS Esso Card is best for regular Esso users, offering a solid combination of fuel savings and extra perks like insurance and road tax benefits.

Pros:

• It provides excellent savings at Esso.
• It offers exclusive benefits like 0% interest-free motor insurance and road tax plans.
• The Smiles points that can be redeemed for discounts on fuel.
• It offers up to S$120 NETT fuel savings for new cardholders.

Cons:

• It is only valuable for drivers who regularly use Esso.
• There are limited rewards for non-Esso users; if you fuel at other stations, this card may not be as beneficial.

Things to Take Note Of:

• The card is primarily designed for Esso customers, so it’s less useful for those who do not fuel at Esso regularly.
• Smiles points redemption is largely tied to fuel purchases, and may not be as flexible for non-fuel spending.

UOB One Card – Best Petrol Credit Card for Shell

Key Features:

• Fuel Savings: You can get up to 21.15% savings at Shell (17% instant discount + 5% cashback). The 17% instant discount includes a 5% Shell station discount, a 5% Shell Escape discount, and a 7% UOB One Card instant discount (from the CVP change).
• Cashback:It offers up to 5% cashback on daily spending, including utility bills and retail purchases. You can also earn up to 22.66% savings at SPC.
• Minimum Spend: To unlock the full 5% cashback, you need to spend at least S$2,000 per month for three consecutive months. The card also offers additional cashback based on consistent spending patterns.
• Loyalty Program: Shell Escape membership offers points for every fuel purchase, which can be redeemed for rewards like S$10 NEX vouchers and S$20 TANGS gift cards.

The UOB One Card is ideal for drivers who frequently fuel up at Shell, while also offering excellent cashback for regular spending across other categories like utilities and retail.

Pros:

• It provides substantial fuel savings at Shell.
• It offers high cashback on utilities and everyday purchases.
• It is good for drivers who make consistent purchases.

Cons:

• It has a high minimum spend requirement to unlock full cashback.
• The cashback and fuel savings are tied to specific spending patterns.

Things to Take Note Of:

• If your spending drops below S$2,000 per month, the cashback will decrease (for example, S$100 cashback for spending between S$1,000 and S$1,999).
• The Shell Escape loyalty program rewards you with points for fueling at Shell, so it’s ideal for regular Shell customers.

POSB Everyday Card – Best Petrol Credit Card for SPC

Key Features:

• Fuel Savings: You can enjoy up to 22.93% savings at SPC, which is made up of a 6% cashback on fuel, a 10% SPC&U member discount, and a 5% DBS/POSB discount on the final amount.
• Additional Cashback: It offers extra 2.83% cashback (capped at S$6) when you spend a minimum of S$800 monthly.
• Dining: You can get 10% cashback on online food delivery.
• Groceries: You can receive 5% cashback on grocery purchases, including both physical and online shopping.

The POSB Everyday Card is a great card for daily spending on groceries, dining, utilities and more, plus great fuel savings at SPC. Additionally, it is ideal for those who regularly buy groceries and want to save on gas costs.

Pros:

• It provides significant savings at SPC without any minimum spend.
• It offers versatile rewards across multiple categories like dining and groceries.
• It gives extra cashback on monthly spend.

Cons:

• The best fuel savings are available only at SPC, so the card is less useful for drivers who fuel at other stations.
• Rewards like dining and grocery cashback are tied to specific spending categories.

Things to Take Note Of:

• The cashback cap applies, with the highest savings available for frequent SPC users.
• To get the extra 2.83% cashback, you need to spend S$800 monthly.
• You need to sign up for the SPC & U card to get an instant 10% member discount at SPC stations.
• Additional benefits: Members of the SPC&U program enjoy members-only treats, special promotions, and e-coupons, further enhancing the card’s value.

OCBC Frank Card – Best Petrol Credit Card for Sinopec

Key Features:

• Fuel Savings: It provides up to 29% savings at Sinopec (23% instant discount + 6% cashback on contactless payments).
• Cashback: It offers 6% cashback on contactless payments using smartphone or smartwatch.
• Discounts: You can enjoy a 23% discount at Sinopec stations, giving a significant reduction on your fuel expenses.

The OCBC Frank Card is ideal for drivers who use Sinopec stations and make contactless payments. It comes with instant discounts and cashback which gives great savings to users who meet the minimum spend requirement consistently.

Pros:

• It offers high savings at Sinopec with up to 29% in total savings (23% discount + 6% cashback).
• It provides attractive contactless payment benefits , ideal for smartphone or smartwatch users.
• It offers additional savings on fuel purchases with Sinopec.

Cons:

• There is limited availability of Sinopec stations.
• The cashback is only available for contactless payments, which may limit convenience.

Things to Take Note Of:

• The 6% cashback is only available for payments made using contactless methods (via smartphone or smartwatch).
• The 23% discount is only available at specific Sinopec stations (currently three locations in Singapore).
• By signing up for Sinopec’s X Rewards program, you can earn additional X points that can be redeemed for fuel discounts, enhancing the overall savings.

How Do Petrol Credit Cards Differ from Regular Credit Cards?

Petrol cards offer a competitive credit facility, requiring a credit check for business account setup. However, the key distinction lies in their purposes. A credit card provides a line of credit for immediate purchases across various goods and services, while a petrol card is exclusively designed for petrol, oil, and car wash purchases.

Thus, the two types of cards serve distinct purposes in facilitating different types of transactions:

Check out our top 1o list of best credit cards in Singapore, highlighting the most rewarding options for cashback, travel perks, and low fees. Whether you’re a shopper, traveller, or food enthusiast, our concise guide will help you choose the ideal card to enhance your spending efficiency and savings.

Factors to Consider When Choosing a Petrol Credit Card

1. Cashback vs. Rewards Points: Which is Better?

Deciding between cash back and points? For avid travellers, a points card can be ideal, offering joy in maximizing redemptions and capitalizing on travel perks.

If loyalty lies with a specific hotel or airline, their dedicated cards can yield significant value. Opt for a points card with broad merchant redemption options for versatile rewards.

If simplicity is key, a cash-back card is perfect, especially for those seeking a no-fee rewards option or infrequent travelers.

The optimal choice might be a card offering both cash back and points, as several point-based cards allow cash redemptions. Enjoy the best of both worlds – it’s indeed possible to have your cake and eat it too.

2. Understanding Interest Rates and Fees

The interest rates on your credit card indicate the cost of borrowing if you carry a balance. Fortunately, paying off the entire monthly card balance typically exempts you from interest on purchases.

When comparing credit card interest rates, consider that a single card may have multiple rates, including:

1. Ongoing Interest Rate: This is the standard rate for interest when carrying a balance.
2. Introductory 0% Interest Rate: Card issuers often provide a promotional 0% intro interest rate on purchases and/or balance transfers to encourage new account openings. This promotional period usually spans from 12 to 21 months, after which the card’s standard rate applies to any remaining balance.
3. Penalty Interest Rate: Many credit card companies impose a higher penalty interest rate when a cardholder’s payment is at least 60 days overdue.
4. Cash Advance Interest Rate: Credit card cash advances may have a separate (often higher) interest rate, even if a 0% intro interest rate offer is in place for purchases and balance transfers.

3. The Importance of Petrol Brand Partnerships

When selecting a petrol credit card, assess its partnerships with major petrol brands like Caltex, Esso, and Shell. Opt for a card aligned with your preferred brand to maximize tailored rewards, discounts, and additional perks, enhancing your fueling experience.

4. Credit Card Acceptance at Different Petrol Stations

Consider the card’s acceptance across various petrol stations. Choose a card with wide acceptance to ensure convenience and efficiency in managing fuel expenses, irrespective of the petrol station or location. This flexibility allows you to enjoy benefits and savings wherever you choose to refuel.

Petrol Credit Card Specific Benefits Analysis

Cashback Rewards: A Closer Look​​

To optimize fuel savings, the strategic utilization of your petrol credit card becomes paramount. Seek out cards that provide the most substantial cashback or discounts at well-known petrol stations like Caltex, Esso, Shell, and SPC. Aligning the right card with the corresponding station maximises your savings with every refuelling.

Loyalty Points and How They Work

You will find out many of the best petrol credit cards in Singapore provide extra perks through loyalty programs like Esso Smiles and Shell Escape. These programs enable you to accumulate points or access exclusive discounts, amplifying your fuel savings. By combining these loyalty initiatives with your petrol credit card, you can maximize value and optimize every visit to the pump.

Additional Perks: Roadside Assistance and More

1. Car Insurance and Roadside Assistance:
   • Choosing the right car insurance is crucial, and some cards offer cashback on premiums
   • Roadside assistance is provided by certain cards, like UOB One and HSBC Visa Platinum, ensuring peace of mind.
2. Shopping, Dining, and Entertainment Rewards:
   • Petrol cards offer rewards for everyday expenses, with options like cash rebates
   • Dining and entertainment perks are available with cards like OCBC Frank enhancing lifestyle while saving on fuel expenses.

Conclusion

After exploring the best petrol credit cards in Singapore, each catering to diverse lifestyles, you’re equipped to make an informed choice. These cards offer potential savings of up to 21% on petrol purchases at major stations like Shell, Esso, SPC, and Caltex. By comparing their features, you can select the perfect card for your preferences.

When choosing the best petrol credit card for daily fueling needs, consider extras like companion fares, bonus miles, and free bags. With the right card, not only do you save significantly on fuel, but you also enjoy rewarding benefits every time you fill up. Make a savvy choice for the best petrol credit card in Singapore that suits your lifestyle.

And for a deeper dive into the financial tools that can enhance your lifestyle beyond the pump, be sure to check out our guide on the ‘Best Credit Cards in Singapore‘, where we uncover the top picks that promise value, rewards, and convenience across all your spending.

Financial Disclaimer:

The information provided is for general informational purposes only and should not be considered financial advice. It may not reflect the most current market conditions, and users are encouraged to conduct their own research and consult with qualified financial professionals before making any financial decisions. We do not guarantee the accuracy or completeness of the information and disclaim any liability for errors or damages arising from its use. Financial decisions involve risk, and past performance does not indicate future results. Users should consider their own financial goals and circumstances before making any investment decisions.