While Singaporeans may not face the most unaffordable petrol prices in the world, according to Bloomberg (study of price of gas versus income), we do end up spending a significant amount at the pumps, so it should come as a relief that there are several options for credit cards that offer great rewards or discounts at the pumps.
For the purposes of this article we shall examine the rewards offered by cards at the three major petrol providers- Esso, Shell and Caltex. The best option for you will depend on which company provides most of your fuel and the following table (click to enlarge) will give you the best cards for each.
From the table above (click to enlarge), it seems that the way to save the most money would be to get a UOB Visa Signature Card and always fill up at Caltex. But, there are just so many factors that go into getting the most out of your card. Prices at each company are different, some cards offer decent savings at more than one company while some will offer savings at only one. There are also a lot of fine print involved as to the limits of rewards and the usage of company points. The point being that the best card that is perfectly tailored to you will only become obvious as you sift through the fine print and do your research as well as examining your driving and filling up habits.
That said, as a general list of the three best cards, the research seems to suggest that for the average person, the Citibank Divident Card with its 14% direct discount at Esso stations (the company with the most pumps islandwide) and 10% at Shell stations is a good option. So is the HSBC Visa Platinum Credit Card which offers 14% instant savings at Caltex and Shell stations and the ANZ Travel Signature Credit Card with 15% savings at Caltex.
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