Get Instant Discounts When You Pump with Best Petrol Credit Card in Singapore

With so many credit card options in Singapore, it can be overwhelming to find the right one to suit your spending habits and maximize your rewards. By carefully comparing key factors like cashback rates, rewards programs, annual fees, and special perks, you can identify the best credit cards to fit your lifestyle and get the most value out of every dollar you spend.

Finding the Best Petrol Credit Cards in Singapore
(Updated: 01 March 2024)

Top 8 Best Petrol Credit Cards in Singapore

OCBC 365 Credit : Best for Caltex

OCBC 365 Credit
Maximum Savings
  • Get up to 22.1% fuel savings at Caltex (18% instant discount for all fuel)
  • Get up to to 20.2% fuel savings at Esso
Other Perks
  • 5% cashback on fuel spend at all petrol service stations

Citi Cash Back Card : Best for Esso & Shell

Citi Cash Back Card
Maximum Savings
  • Get Up to 20.88% fuel savings at Esso and Shell
Other Perks
  • Get up to 8% at other fuel stations worldwide for a minimum of S$800 in a statement month

UOB One Card : Best for SPC

UOB One Card
Maximum Savings
  • Up to 22.66% fuel savings at SPC
  • Up to 20.8% Fuel Savings at Shell (exclusive for professional drivers)
Other Perks
  • Up to 5% cashback at all Other Petrol Stations

DBS Esso Card : Best for Esso

DBS Esso Card
Maximum Savings
  • Up to 21.6% fuel savings at Esso & 2.4% Smiles savings
Other Perks
  • Get up to S$120 fuel savings when you dign-up.
  • Earn Smiles Points on all your card spend

POSB Everyday Card : Best for SPC

POSB Everyday Card
Maximum Savings
  • Up to 20.1% fuel savings + 2% fuel savings at SPC Stations islandwide
Other Perks
  • Apply for your first POSB Everyday Card by 31 January 2024 and get S$150 cashback!

HSBC Platinum Visa Credit Card : Best for Caltex & Shell

HSBC Platinum Visa Credit Card
Maximum Savings
  • Up to 16% instant discount on fuel spend at Caltex and Shell stations
Other Perks
  • Up to 5% cash rebate on fuel spend at Caltex and Shell stations

Standard Chartered Unlimited Cashback : Best for Caltex

Standard Chartered Unlimited Cashback Credit Card
Maximum Savings
  • Up to 24.53% savings at Caltex (From 1 January 2024 to 31 March 2024 )
Other Perks
  • New to CaltexGO cardholders, enjoy 23% upfront discount for all Standard Chartered Cards.
  • S$3 off min spend S$80

American Express Credit Cards: Best for SPC

American Express Credit Cards
Maximum Savings
  • Up to 21% fuel savings at SPC (up to 31 December 2024)
Other Perks
  • 7.1% savings via statement credit on the final charge amount, capped at S$120 (from 1 January to 31 December 2022)

Finding the Best Petrol Credit Card in Singapore

Singapore is known as one of the most expensive cities to live in. Getting a car is already expensive, for example, if you’re planning to buy a Volkswagen Golf, it can cost around US$100,000 compared to US$44,000 in Norway. Maintaining is also costly especially when you talked about petrol.

Although monthly spending on petrol may vary depending on how much you use your car, on average it may cost around S150 to S$200 based on the average mileage and petrol price per litre in Singapore.

Getting Petrol Credit Cards in Singapore can be an advantage.  Below are the top credit cards for instant fuel discounts. Be able to save more with these best petrol credit cards in Singapore.

What to Consider Before Taking a Credit Card

Before getting a petrol credit card, you have to take note of the following:

Check your capacity to pay

Having a credit card is an added financial responsibility. Not repaying on time or failure to repay can lead you to a bad credit score. This is the reason why we can see that each credit card has higher annual requirement which is at least S$30,000 for Singaporeans or PRs and above $40,000 for foreigners. But, even if you have a higher annual income, take in mind that you have to check your financial capacity. You have to ask yourself: “Can I pay my credit card bills on time?”.

Check your spending habits

As you can observe, there are specific credit card for each type of spender. You have to check your self, if what type of lifestyle and spending habits you have. For example, Citi credit cards specializes in various types of spender, there is Citi Premier Miles for those who loves traveling and Citi Lazada for those who loves shopping at Lazada. Most of credit cards have huge rewards for online spender.

If you shop offline, there are also specific cards which can be used for selected merchants. Identifying your spending habits is vital in choosing a suitable credit card for you.

Will you be responsible in maintaining a good credit score?

Before becoming a credit card holder, you have to check yourself if you can able to maintain a good credit score. You’ll have no problem in managing your finances if your answer is a “yes”

How to Find the Best Petrol Credit Card in Singapore

Singapore has a wide range of credit card to offer. If, its your first time to get a credit card for yourself, it might be difficult or even its your second time. Choosing from a wide array of credit card can be hard and you can’t find and say that there is just one best credit. There are lots of awesome credit card to choose from.

You might be overwhelmed with lots of choices but here at MoneyIQ will provide tips below that can help you find the best credit card.

Look for a card based on your lifestyle and spending habits

As mentioned, and as you can observe on our list of the best credit cards, you can see that each credit card specializes in each type of spender. There are specific credit cards for online spenders, for travelers, for foodies, commuters and many more.

Your life can be easier with a credit card if you choose it according to your spending habits. You may find that you’ll end up getting various types of credit cards since you’ll love many things. But, always remember to be a responsible spender and payer.

Find a card based on the reward structure that you want

As identified above you can earn mile points with miles credit card, a cashback for cashback credit card and points for reward credit card. As you identify your spending habits you can easily find the best reward structure that you will love. In addition, it is essential that you can plan on how to use these rewards to reap out the most from your credit card benefits.

Therefore, you have to choose a card based on rewards points that you love. If you love shopping, you’ve got to have a rewards credit card. If you love to earn cashback, you can choose among the best cashback credit card.

Always Check for the Fees

As noted above, annual fees are not the only charges that you have to consider. You have to check various fees applicable. Choose the one with the lowest rate possible or it can balance to their featured benefits.

Read and Understand the Terms and Conditions

Lastly, when choosing the best credit card for yourself, always check the fine print. There are certain conditions that apply especially with their promotional offers. You need to read it carefully and understand it well before getting one. You have to consider its expiry date, minimum spending, the credit limit, inclusions, exclusions and many more.

You can ask the bank or credit card support specialist to understand it very well.

So, Which Credit Card in Singapore is best for Petrol?

As we all know, fuel prices are never cheap in Singapore, but the good news is that there are credit cards that can help you get rewards and discounts. This ended you up saving more money every month.

These petrol credit cards when used will reward you with cashback, reward points, air miles each time you refuel at Caltex, SPC, Esso, Shell and many more.

With a wide array of choices when it comes to credit cards in Singapore, choosing the best credit cards in Singapore can be tricky. Which one is truly the best? To help you figure it out below is the recommended credit card based on the petrol station you use and the maximum discounts it can give

To get the maximum fuel savings you may have the cards mentioned below.

  • Best Petrol Credit Card at Caltex: OCBC 365 Credit up to 22.1% fuel savings
  • Best Petrol Credit Card at SPC: UOB One Card up to 24% savings
  • Best Petrol Credit Card at Esso: Citi Cash Back Card up to 22.72% savings and DBS Esso Card up to 21.2% fuel savings
  • Best Petrol Credit Card at Shell: Citi Cash Back Card up to 20.88% fuel savings

FAQs on Petrol Credit Cards

Are all petrol credit cards offering the same discounts and cashback?

As we can observe, the rates varies from each card and in the average the maximum discount that it can give is up to 24%.

The cashback you earned will be given to your account quarterly. You may receive it at every second month of the next quarter.

Initially, most of the cards have lower starting rebate but each time you meet the target spending you’ll end up getting a higher rebate. And the good news is that, it will be applied to all your purchases to that specific month where you meet the target spending (such as S$600).

Most of the petrol credit cards have a monthly limit – it can be capped at around S$40 or up to S$100. Therefore, remember to read the fine print since those limits will depend on the type of card that you have and it may be applied quarterly or annually.

Yes, each type of credit card has an annual fee. It may cost around S$80 to S$195 or can be higher also. There are also some credit cards that will waive the annual fee on the first month or each time you reach a target spending.

You need to look out also for foreign currency transaction fees especially when you are buying online or when you are traveling. It can be as high as up to 3.5%.

Remember also your responsibility as a credit cardholder, make sure that you can repay on time or else you’ll end up paying higher interest rates.

Always consider the promotions and the partnering brands associated with the credit card. Most of the popular petrol credit cards tie-up with the best petrol brands in Singapore. You can spend wisely at Caltex, Esso, Shell, and SPC.

Remember also that each card will specify a partner brand in order that you can qualify for a discount or a cashback, but there also cards that you can use in any brand. Discounts are applied nationwide.

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