Traveling with cars is very common for most of the Malaysians, as the current public transport infrastructure does not allow us to commute conveniently as compare to driving our own car. Hence, the amount of money spent on petrol has a significant value and we all wish to save more money on our monthly petrol bill. There are a number of credit cards for petrol cashback and provide more benefits whenever we pump petrol.
Before moving to the credit cards list, we would like to know more on the ceiling price for fuel. What is a ceiling price? A ceiling price is the maximum price that a seller is allowed to charge for a product or service, ensuring fair and reasonable business practices. This price control is imposed by the government in order to protect consumers from being charged sky high on commodities like petrol. Beginning from end of March 2017, the ceiling price will be announced every Wednesday. In short, this move is to enable consumers to be aware of the current prices of the petrol.
HSBC Amanah MPower Platinum
As mentioned, there are a number of credit cards in Malaysia are offering cashback or reward points when you spend on petrol. Here are some of the best credit cards for you when it comes to petrol spending. The HSBC Amanah MPower Platinum Visa Credit Card-I has good cashback program that helps you to get the most of your purchases. If you spend on petrol and groceries, you will be receiving either a 2% or 8% cashback rate with monthly cap of RM50. Bear in mind that there will be a 20 days grace period for all shopping transactions provided that all your outstanding balance as per stated on the monthly statement is fully paid. If you are interested in this credit card, your minimum income must be RM2500 or RM30,000 per annum. The annual fees will be less than RM100 for primary card and less than RM50 for supplementary card. However, you will be eligible for an annual fee waiver with a minimum of 12 swipes in a year.
Shell-Citi Gold Credit Card
If you want to save on your petrol spending and have exclusive privileges, Shell-Citi Gold Credit Card may be the one credit card that meets these criteria. It is divided into three tiers. In tier 1, you may receive up to 4% rebate on shell fuel spending when you spend minimum RM300 up to RM999 per month. In tier 2, you may receive up to 6% rebate on shell fuel spending when you spend minimum RM1000 up to RM2499 per month. In tier 3, you may receive up to 8% rebate on shell fuel spending when you spend minimum RM2500 and above per month. The monthly cap for tier 1, 2 and 3 is RM10, RM30 and RM64 respectively. In order to apply for this credit card, your minimum monthly income must be RM2000 or RM24,000 per annum. The annual fees will be around RM200 for the principal card holder whereas about RM100 for the supplementary card holder. However, there will be no annual fees for the first year of signing up the credit card when you use it for three times within two months of the card approval.
Petronas Maybank Visa
We also have some Petronas related credit card such as the Petronas Maybank Visa, which can be considered as it helps t save on petrol cost. With this credit card, you may receive additional privileges like an 8x Treat Points on weekends and 5x Treat Points on weekdays. The points that you have collected can be used to redeem petrol. Thus, the more points you collect, the more free petrol you can redeem. You can apply for this credit card if you have a minimum income of RM2500 or RM30,000 per annum. There is no annual fee incurred. Another Petronas related credit card is the CIMB Petronas Mastercard. This credit card is highly recommended for those of you who frequently spend on fuel at Petronas as you can get up to 7% cash rebate daily by using this card. There will be a 7% cash rebate with a statement balance of RM3000 and above, 3% cash rebate with a statement balance of RM3000 and below; and 2% cash rebate on other retail spend. The cash rebate on Petronas spending will be capped at RM50 monthly but there is no limitation of cash rebate on other retail spending. Similar to the Petronas Maybank Visa, it does not charge annual fee. You must have a minimum income of RM2000 in order to be eligible for this credit card.
Alliance Bank Platinum Card
The Alliance Bank Platinum Card will not only reward you when you spend on fuel but also allow you to redeem air miles for both Enrich Miles and AirAsia BIG Points. However, this is only applicable to Visa credit card holder only. Here are the points that you will receive for each spending, 3x for every RM1 spent on overseas retail, 2x for every RM1 spent on petrol, grocery and utility and 1x for every RM1 spent on domestic retail. Interestingly, there will be no expiry date for the points that you have collected. If you wish to apply for this credit card, your minimum income has to be RM5000 per month. There will be an annual fee waiver every year with minimum spend of RM5000 or 12 swipes within 12 months period.
Another credit card that helps you to save money when you pump petrol is the Alliance Bank You:nique. It is really unique as it offers the unique feature of having a personalized credit card. Apart from that, you can choose your personal preference feature between rebates, rates and rewards. If you have chosen rebates, you can get up to 3% cashback and 2 reward points for every RM1 on every overseas and retail spending. The minimum requirement to apply for this credit card is very simple as long as you have a minimum income of RM2000 per month. The annual fee that will be charged is about RM150 which will be waived for its first 3 years. Then, you’ll be able to get the annual fees waived if you spend RM5000 or 12 transactions annually for the subsequent years.
Standard Chartered Just One Platinum Card
You may also save money when you pump petrol by using the Standard Chartered Just One Platinum Card. At the same time, you will be getting some other benefits too. If you spend a minimum retail of RM500, RM800 and RM1500, you will be receiving a 2%, 3% and 5% cashback respectively. Nevertheless, there is a cashback cap for retail spending and minimum petrol spend amount in order to be eligible for cashback. To sign up for this Standard Chartered credit card, your minimum monthly income has to be RM2000 or annual income has to be RM24,000. The annual fee is slightly higher about RM260.
If you are looking for an Islamic petrol credit card, the AmBank CARZ Platinum Credit Card is one of the best options. It is a Shariah compliant credit card which is ideal for those of you who do not wish to be limited to only one petrol brand. With this credit card, you can earn cash rebate easily on any petrol purchase of any brands. Revolvers can get a 3% rebate whereas transactors can get 2% rebate capped at RM20 per month. Besides that, you can also collect CARz Point, which can be used to redeem auto-related goods and services. With a monthly income of RM2500, you are already eligible to apply for this credit card. There will be no annual fee which is free for the principal and first 3 supplementary card holders.
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