So, what about those who aren’t qualified? We’re pretty sure they want to save some moolah too. If you don’t belong to the said group, one way to reduce your petrol cost is by using a credit card that fits your needs.
Before we begin, we want to describe two terms that will be used in this article:
- Cashback rate: The total amount to be refunded from your expenses. For example, with a cashback of 5%, you will get RM5 if you spent RM100 on petrol per month.
- Monthly cap: Limit for the money returned. Let’s say your card offers a 5% refund rate. When you use RM1500 on petrol, the amount you should be getting back is RM75. But since the monthly limit is RM50, you’ll not be getting more than that.
Now, let's start with our best petrol credit card options…
1. Citi Cash Back Card
| Cashback | 10% |
|---|---|
| Monthly cap | RM 10 |
| Term | - |
Among the many cards listed here, the Citi Cash Back Card offers the easiest terms ever. You will be able to get cash back no matter which petrol station and the type of petrol.
Although the monthly limit for this card is the lowest compared to the other cards, it may be most suitable for most Malaysians. This is because you only need to refuel up to RM 100 per month to reach the RM 10 limit. This type of credit card seems more suitable for motorcycle riders.
Other than that, you can also get cashback for other things like groceries, medicines, and telephone bills.
For more information, click here
2. AEON BiG Visa Gold Card
| Cashback | 5% |
|---|---|
| Monthly cap | RM 25 |
| Term | Valid during weekends only |
Apart from petrol, AEON BiG Visa Gold Card also offers:
- 5% cashback when you payWave at AEON supermarket, with a monthly limit of RM25
- 2% cashback when you pay online, with a monthly limit of RM25
- 5% cashback when shopping at AEON BiG Thank You Day (every 28th of the month), with a monthly limit of RM 100
If you really plan your expenses, you can get more cashback than any other card on this list. This card is suitable to those who always drives to AEON to buy essential items - even better, just move next to AEON.
For more information, click here.
3. CIMB Petronas MasterCard
| Cashback | 7% |
|---|---|
| Monthly cap | RM 50 |
| Term | Statement balance RM 3000 and below |
This card offers the highest cashback rate in the list which is at 7% provided that statement balance is more than RM3000. In other words, you have to use at least RM3000 with a credit card in a month. Yes, this is a very ‘atas’ card.
And, just like the name, you will only be able to get cashback if you spend at Petronas station.
For more information, click here.
4. HSBC Amanah MPower Platinum Credit Card-i
| Cashback | 8% |
|---|---|
| Monthly cap | RM 50 |
| Term | - |
The HSBC Amanah MPower Platinum Credit Card-i offers a high monthly cap. However, to get that RM 50, you must spend up to RM 625 on petrol each month. If you drive for Grab extensively, you can reach it.
Besides cashback for petrol, HSBC Amanah MPower Platinum Credit Card-i users can also earn cashback when shopping at Lotus, Giant, AEON BIG, and Mydin.
Find out more information here.
5. AEON BiG Classic Visa Card
| Cashback | 5% |
|---|---|
| Monthly cap | RM 25 |
| Term | Only on Sunday |
Although you can only get cashback from the AEON BiG Classic Visa Card on Sundays, the cashback rate is quite generous. You need to spend RM 500 on petrol to reach the RM 25 monthly limit.
Additionally, you can get RM 100 cashback every 28th of the month if you spend RM 2000 at AEON.
Find out more information here.
6. Maybank Islamic MasterCard Ikhwan Gold Card
| Cash back | 5% |
|---|---|
| Monthly cap | RM 50 |
| Term | Valid on Friday and Saturday only |
Apart from cashback for petrol, Maybank Islamic MasterCard Ikhwan Gold Card also offers a lucky draw to go for ‘umrah’ - a minor pilgrimage to Mecca.
Not only that, the bank will donate 0.1% of your expenses to Islamic Aid Malaysia, MERCY Malaysia, and Islamic Relief Malaysia. So even if you do not spend extra money, you can still give back to the community.
For more information, click here.
Which petrol credit card is better for you?
As you can see, there’s no such thing as one-card-fits-all. What may be ‘best’ for you may not be the best for others. It all depends on what you’re using it for. Here’s an example for this case: If you own a Perodua, maybe a RM15 limit would be enough. However, if you’re using a fighter jet to commute, then maybe you want a credit card with a higher limit and better cashback offer.
Whatever it is, just make sure you use your credit card wisely. When possible, pay off all balances before the set date (you can check this with the respective account or call the bank directly). Don’t be a credit card defaulter as you’ll end up paying more than you should. Let's assume you have a balance of RM1000 and the credit card interest rate is 15%, this means that you have to pay more than RM150 for that month! Why give yourself that unnecessary stress?
Anyway, we hope you can make a comparison, choose the right credit card, and spend wisely! Visit Loanstreet for a comprehensive petrol credit card list.
*The above article is intended for informational purposes only. Loanstreet accepts no responsibility for loss that may arise from reliance on information contained in the articles.
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