• Best Petrol Credit Cards In Malaysia

    The price of petrol is on the rise due to all the economic factors relates to the global economic state and may not get any better. At a time such as this, when Malaysia is not at a very comfortable economic state petrol prices are not going to get any lower. Also, people who reside in cities and may not have the eligibility for the Bantuan Rakyat 1Malaysia (BR1M) may also feel concerned.

    Car loans are a piece of cake to get but what about the maintenance of the car? What about the fuel that it runs on? There are ways to save money when buying petrol for your vehicle. One of the most convenient way to do so are credit cards in Malaysia. But you have to make sure that you get the best petrol credit cards available in Malaysia. The best way to do so is to look for the benefits listed below in the petrol credit card you choose. In other words, this list can be used as a checklist to figure out whether your credit card is one of the best petrol credit cards in Malaysia or not.

    Benefits to Look For On Petrol Cards in Malaysia

    Petrol Credit Cards, when selected wisely and carefully can be used to help in making certain amount of savings on petrol spends, especially over the long term. Let us look at a few ways in which Petrol Credit Cards help us:

    Benefits to Look For On Petrol Spends

    Petrol Credit Cards have the provision of providing maximum rewards on your regular petrol spends. Rewards may come in the form of:

    • Rebates (or discounts) on your petrol bill: you might be able to avail a certain amount of discount when you are using the plastic money at certain designated gas stations, accommodated by your credit card issuer. It can be a 5 to 15% rebate depending on their partnerships with petrol companies.
    • Cashback on your petrol spends are extremely common and generally they start at 5% cashback. So, every time you spend, you receive a saving on your bill. For example, you buy petrol for RM 100, you will receive RM 5 on your account for the expenditure.
    • Enhanced Reward Points for your petrol spends allow you to score points on your expenditure on petrol, which may be later redeemable in the form of cash or gifts, vouchers or offers.

    Benefits to Look For On Other Spends

    Petrol Credit Cards might also help you in saving on your spends such as groceries, travel, dining, etc, in the following form:

    • Rebates / Cashback / Reward Points on your spends: These benefits work similar to the way they work for the spends on petrol as mentioned in the earlier section.
    • The total expenditure that may include groceries, dining etc might be linked back to the petrol spend as well as savings savings. Here, the higher the total monthly expenditure, the higher will be the savings on the petrol expenditure.

    Additional Benefits

    There are some additional benefits that you can look out for which include:

    • Waivers on annual fee
    • Special advantages or benefits on healthcare and medicine
    • You might be even eligible for special travel and entertainment packages
    • Some complimentary privileges such as annual gifts or discounts at expensive dining may also be availed.

    Types of Petrol Credit Cards Available in Malaysia

    Best Petrol Credit Cards in Malaysia, are available in the following forms:

    Multiple Brand Petrol Credit Cards:

    Such cards offer the holders to enjoy the standard rewards regardless of the brand of petrol kiosk or gas station you swipe your Petrol Credit Card.

    Co-branded Petrol Credit Cards:

    These Cards offer their rewards only at the gas stations or petrol kiosks of the fuel brand mentioned on the Credit Card. But the amount or value of rewards offered may be significantly greater than what may be earned through multi-brand Petrol Credit Cards. For example, Shell-Citibank Gold Credit Card, offers up to 8% rebate on Shell fuel additionally to a host of other benefits.

    Things to Consider Before Considering the Best Petrol Credit Card besides the Benefits in Malaysia

    • Annual Costs: There are annual fees and interest rates that need to be considered before you choose one of these cards. They are generally to figure out. Annual fees are one of the main ways to figure it out.
    • Caps and Tiers: There may be restrictions that are often overlooked such as caps and tiers on the rewards that you receive as they may be accessible only through spending tiers and limited caps.
    • Full Payback: Despite all the rewards and discounts, bite only as much as you can chew. In other words, don’t go on a spending spree just because of the discounts and spend more because of the rebates and rewards. Your monthly credit card bill is often the major cause of poor debt management that affects your finances also in the long run, in the form of your credit score.
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