5 credit cards that will come in handy the next time you're pumping petrol

In a world where a new global crisis arises with each passing day, only one constant remains: The rising cost of living. Utility bills are up; more flats are crossing seven-digit figures; even your favourite bak chor mee is getting pricier.

And to add salt to the gaping open wound, petrol prices have jumped ever since the Russia-Ukraine war started early last year, at one point even breaching the $3-mark for Ron95.

They've since dropped to slightly saner prices (currently $2.75 for Ron95 at most petrol stations), but it's still a glum reality to live in.

These overall price hikes have translated to more incurred costs for businesses that require transportation, fewer leisure drives with loved ones, and some motorists even entertaining the possibility of trading their Honda keys for an Aleoca from their local Giant mart.

We're no cyclists, but that does seem like a terrible trade deal. Anyway, we digress. For those who are still determined to enjoy the thrills of driving and are willing to put up with increased fuel prices, there is a solution!

Some credit card companies have come forward in 2023 with enticing petrol discounts whenever you charge your next refuelling bill to their cards, and these offers make great financial sense if you use your car regularly.

Here are five cards that we have identified for you to consider!

1. UOB One Card

We start off with the UOB One credit card, which promises instant discounts of between 10-15 per cent whenever you pump at Shell or SPC respectively.

With additional privileges and discounts thrown in, you are looking at up to 22.6 per cent worth of savings in your fuel purchases at SPC stations, and up to 21.15 per cent at Shell!

This does not mean that you're left out of the loop if you're loyal to other fuel providers. The UOB One card offers up to 5 per cent cash back at all other petrol stations.

And the perks apply for non-petrol related purchases too. If you spend a minimum of $2,000 a month, you are eligible for a 5 per cent cash rebate on everything.

According to UOB, while there's no limit to any category where cashback is allowed, a monthly expenditure amount of at least $500 must be made in order to qualify for the rebate.

2. HSBC Visa Platinum Credit Card

The HSBC Visa Platinum is another credit card with enticing perks and discounts. 

If you happen to pump at Shell stations regularly, you are entitled to an instant discount of 14 per cent maximum, plus 5 per cent in cash rebates. Pumping at Caltex grants you a maximum savings amount of up to 20.2 per cent, with the same cash rebate amount of 5 per cent.

Like the UOB One card, the HSBC Visa Platinum offers up to 5 per cent cash back at all other petrol stations.

Cashback with this card is only applicable if you spend at least $600 every month consistently.

3. Standard Chartered Simply Cash Credit Card

Standard Chartered's Simply Cash credit card will be a boon for those who swear by Caltex fuel. 

You get a 16 per cent instant discount if you pump your ride with Platinum 98 with Techron and a 5 per cent Standard Chartered rebate upon nett transaction.

On top of that, you also get a 5 per cent rebate on the nett amount that's been charged to your Simply Cash credit card.

Pumping with other grades of Caltex fuel (Premium 95 with Techron/Regular 92 with Techron/Caltex Diesel with Techron) will qualify you for a 14 per cent  upfront discount, plus the same 5 per cent rebates (Standard Chartered rebate and nett amount rebate) mentioned above.

Cashback at all other petrol stations is lower at 1.7 per cent, but you enjoy unlimited cashback at a flat 1.5 per cent rebate rate for other expenditures, including dining and shopping.

4. POSB Everyday Card

Frequent SPC customers should take note of the POSB Everyday card, as it provides several discounts from the get-go!

Whenever you charge your petrol bill to this card, you get up to 20.1 per cent in savings. This figure is derived from a 10 per cent SPC & U member discount, a 5 per cent DBS or POSB card discount, and 6 per cent in POSB Everyday Card cash rebates.

You are also eligible for an additional 2 per cent in cash rebates when you spend above $800 on this POSB card every calendar month.

It's beneficial for other expenses too! There's a discount of up to 10 per cent if you charge your groceries, online shopping, and online food delivery using this card.

You also get up to 3 per cent in cash rebates on utilities and telecommunications bill payments!

5. NTUC Plus! Visa Credit Card

Last, but definitely not least, is the NTUC Plus! Visa credit card. 

You get an instant 18 per cent discount if you pump your car at any Caltex station, and up to 18.5 per cent at Esso ones. Additionally, using Esso's services will earn you 2.2 per cent in Smiles savings!

If you prefer to use other providers, you will still get 0.22 points per every $1 spent at all other petrol stations.

ALSO READ: Best credit card promotions in Singapore: Citibank, UOB, DBS (January 2023)

This article was first published in Motorist.