If you pay for petrol with a Credit Card reading this post could save you money
A car is a hole on four wheels that you pour money into, without a doubt the most money you’ll spend on your motor is the petrol bill. Wouldn’t it be great if you could get some cash back every time you filled up with fuel?
Well you can. Read on and the RinggitPlus Team will explain how to make some great savings.
First, take a look at the table we’ve prepared comparing the Petrol Station Branded Cash Back Credit Cards on offer in Malaysia:
PETROL STATION BRANDED CARDS
|Card||Petrol Cash Back||Maximum cash back per month||Note / Limitations|
|Public Bank Esso Mobil Visa Gold|
|0.5% for <=RM100|
1.0% for >RM100 – 200
2.0% for >RM200 – 500
3.0% for >RM500 – 800
5.0% for >RM800
Amounts refer to monthly petrol purchase only
|RM50||Esso Mobil & Petron only|
|CIMB Petronas MasterCard|
Rebate based on 5x TreatsPoints per RM1 spent and 11,000 TreatsPoints redemption for RM50 Petronas Gift Card
|No monthly cap on TreatsPoints||Petronas only8x TreatsPoints per RM1 spent on weekends|
|Shell Citibank Gold Card|
|4% for RM300 - 999|
(Max petrol spend of RM250)
6% for RM1,000 - 2,499
(Max petrol spend of RM500)
8% for >RM2,500
(Max petrol spend of RM800)
Amounts refer to total monthly credit card spend
|RM10 RM30 RM64||Shell onlyMinimum spend on credit card required|
A question: are you are fiercely loyal to a local Petrol Station or Brand? If you are, consider applying for their affiliated petrol Cash Back Credit Card.
Credit Card Cash Back for an Average Petrol Bill
If you spend up to RM500 on petrol every month then you will get at least 2% or RM10 back every month with the Public Bank, CIMB and Maybank cards (more if you fill up on the weekends). That will add up to RM120 a year, enough to treat your partner to a nice meal at Christmas time.
Credit Card Cash Back for a Road Warrior
If you spend more than RM500 a month on petrol you really, really deserve some Cash Back. The Public Bank Esso Mobil Visa Gold Credit Card will reward you with a higher cash back rate of at least 3% and up to 5% (depending on how much gas you pump).
For example, if you spend RM850 a month on petrol at Esso Mobil or Petron this card will rebate you RM42.50 every month. That’s RM510 a year – how can you afford not to think about this?
Credit Card Cash Back for Super Tankers
The Shell Citibank Gold Credit Card offers the highest level of Cash Back when compared to all the other Petrol Station Branded cards. The rebates range from 4% to 8% and with a maximum monthly cap of RM64. The other cards generally cap your maximum at RM50.
Watch out for the small print on the Shell Citibank Gold Credit Cards offer - you must spend a minimum amount on your Credit Card to qualify for the Cash Back.
For example, if you want to enjoy the 6% rebate on petrol spending, your total monthly Credit Card bill must be RM1,000 - RM2,499; if it’s only RM300 – RM999, the rebate will be capped at 4%.
One more thing to note about the Shell Citibank Gold Credit Card is that the maximum rebate also varies depending on your total card spending. For example, if you spend between RM1,000 to RM2,499 per month on your card, your 6% rebate will be capped at RM30. This means you only enjoy the rebate on your first RM500 of petrol spend.
The RinggitPlus Team’s Advice
The Best Petrol Station Branded Credit Card for you is the one that matches your monthly fuel budget.
The Public Bank, CIMB and Maybank cards should suit most households. If you’re spending a lot on petrol, get the Public Bank Esso Mobil Visa Credit Card. If you’re filling up every other day (and you use your Credit Card for regular purchases and bill payments) it might be worth getting the Shell Citibank Gold Credit Card.
Finally, always make sure that you’re able to pay your Credit Card bills in full every month. If you miss any payments or don’t pay in full, chances are any Cash Back you enjoy will be erased by fees and charges.
Stay tuned for our review of all the special petrol cash back promotions.
Want to know what the best Cash Back Credit Cards are for Hypermarket shopping? Or how Cash Back Credit Cards compare to rewards points cards? Bookmark RinggitPlus.com or subscribe to our RSS Feed because we will be answering all these questions in the coming weeks.