Who are petrol credit cards suitable for?
- Motorists. Given the cost of driving in Singapore, anyone who puts in the miles for work or leisure can enjoy substantial savings from a petrol credit card.
- Loyalty cardholders. Stay loyal to Esso, Caltex, SPC, Shell, or Sinopec and rack up points and discounts.
- Budget-conscious consumers. Petrol discounts are usually not the only benefits from a petrol credit card. Anyone looking to save money — not just drivers — can benefit from their rewards, cashback, and partner benefits.
Features to compare for the best petrol credit cards
- Discounts and cashback. Most of the best petrol credit cards in Singapore provide direct discounts or cashback on fuel spend.
- Petrol chain affiliation. A credit card may be linked to specific petrol chains, offering cardholders added benefits for their continued loyalty.
- Minimum spending requirement. Some cards have a minimum monthly spending requirement (some don't) to enjoy their full benefits and avoid forfeiting rewards accrued in that period.
- Non-petrol benefits. It's not unusual for cards to also offer rewards points or cashback for non-petrol spending, although earn rates may be lower than on petrol spending. They may also come with other useful features, like travel insurance, lounge access in airports, etc.
How to compare Singapore's best petrol credit cards
- Define your wants and needs. Consider factors such as your preferred petrol chain and your ability to meet the minimum spend per month.
- Calculate potential savings. Assuming you put a typical month's spend through a card, what would you save thanks to petrol discounts?
- Consider additional features and benefits. Apart from petrol discounts, what rewards, cashback, and other perks are beneficial to you?
- Price in the annual fee. Although it's often waived for a year or two, is the card's package of benefits worth paying for? If you don't travel much, then added extras like lounge access and travel insurance might not be of interest or use.
Pros and cons
- Substantial discounts on petrol that cut the cost of driving.
- Earn rewards and cashback on your spend (caps, tiers, and limits apply).
- Often come with additional benefits unrelated to driving.
- The minimum spending requirement can be high.
- You may need to choose a card linked with a chain to maxise savings.
- Annual fees negate savings and the value of rewards or cashback earned.