The Best Petrol Credit Cards For Malaysians

*Updated on 31st March 2017

Want to save more money on your monthly petrol bill? We’ve listed down the best credit cards for petrol cashback in Malaysia, find out more below!

From 29th March 2017 there will be a ceiling price for fuel announced weekly. The ceiling price will be announced every Wednesday of the week. Right now, the current floating petrol price is announced once a month. This measure is said to enable consumers to know the current prices, while avoiding confusion.

What is A Ceiling Petrol Price?

A ceiling price means the maximum price a seller is allowed to charge for a product or service. This is to ensure fair and reasonable business practices. A ceiling price is price control imposed by the government on the maximum price a seller is allowed to charge for a product or service. It is done to protect consumers from conditions that could make commodities such as petrol too expensive.

Wondering how the ceiling price for fuel could affect consumers? Firstly, the introduction could potentially lead to a price war. If it does, it could benefit consumers as they can source for petrol stations which offers the lowest price for petrol. But on the flip side, petrol stations could also all agree to price fuel at the maximum price allowed. If that’s the case, it will be less exciting and beneficial for consumers.The prices in the first week (March 30-April 5) since the new scheme began are:

• RM 2.13 for RON95 petrol
• RM 2.41 for RON97 petrol
• RM 2.11 for diesel

A drop of 17 sen, 19 sen and nine sen respectively can be observed from previous petrol prices.The price of petrol is an ongoing concern for most of us, especially when the subsidy was removed. Below is a graph to show the history of petrol price from January 2016 up until February 2017. A pattern of price increase can be observed.

But not to worry, by using the right credit card you can enjoy savings on fuel. We’ve narrowed down the best credit cards for car owners below:

Petrol Credit Card Features To Look Out For

Do you know that 40% of credit cards in Malaysia offers car related benefits such as cashback or rewards points for petrol spending?  A credit card that would be suitable for car owners should offer benefits on petrol, as well as benefits for other car related expenses. This can be in the form of discounts for car servicing, insurance or freebies. For petrol benefits, it can be in the form of cashback or rewards points given when the card is used for petrol spending.

Based on the points above, we’ve narrowed down the best credit cards for car owners below:

Standard Chartered JUST One Platinum Card

Save money when you fill up for petrol while getting other benefits  with Standard Chartered Just One Platinum Card! Check out the savings you can enjoy every month in the table shown below:

Minimum Retail Spend To Qualify For Cashback	Cashback	Minimum Retail Spend	Cashback Cap
RM500	2%	RM500	RM10
RM800	3%	RM833	RM25
RM1,500	5%	RM1,000	RM50

However, take note that there is a cashback cap for retail spending and a minimum petrol spend amount as stated above to be eligible for cashback.

Requirements:

• Minimum monthly income of RM2,000 (RM24,000 per annum)
• Annual fee is RM265

Hong Leong WISE Gold Card

This is one of the best cards if you’re on the lookout for cashback. Enjoy 10% cash back with a minimum of 10 retails transactions monthly of minimum RM50 per transactions! The best part is that you get to choose the spending categories of your choice so this card can suit your spending habits and maximize your cashback!

Requirements:

• Minimum monthly income of RM2,000 (RM24,000 per annum)
• Annual fee: RM169.90 for Principal cardholders and RM84.80 for supplementary card holders

HSBC Amanah MPower Platinum Visa Credit Card-I

If you want a card that gives you access to platinum privileges whilst being Shariah-compliant, this card can deliver that to you.

Benefits of this card:

• Good cashback program that helps you get the most of your purchases.

Cashback Category	Cashback Rate	Monthly Cap	Spend
Petrol and Groceries	2%	RM50	RM2,000 or less monthly
Petrol and Groceries	8%	RM50	RM2,000 or above monthly
Local spending	0.2%	Uncapped	No minimum spending amount needed

• 20days grace period for all shopping transactions, provided that all outstanding balance stated in the monthly statement  is fully paid.
• The HSBC Smart Privileges gives you discounts, free gifts, free drinks and more at participating retail outlets and hotels.
• Premium privileges and offers from Visa, among which are discounts and Visa concierge services.

Requirements:

• Minimum income RM2,500 (RM30,000 per annum)
• Annual fees: RM95.40 for Primary card and RM47.40 for supplementary card. You will be eligible for annual fee waiver with a minimum of 12 swipes per year.

Shell-Citi Gold Credit Card

If you want to save on your petrol spending and have exclusive privileges at the same time, this card may be the one you’re looking for. You can enjoy rebates of up to 8% on petrol per the table below.

Tier	Monthly Total Spending (RM) (Dining, travelling, bills, groceries)	Rebate on Shell Fuel Spending	Max. Monthly Shell Fuel Spending Eligible For Rebates (RM)
1*	300 – 999	4.0%	250
2**	1000 – 2499	6.0%	500
3***	Above 2500	8.0%	800

*     Monthly cap of RM10
**   Monthly cap of RM30
*** Monthly cap of RM64

As a cardholder, you will also have access to perks like preferential treatment and discounts at over 25,000 dining, travel, golfing and shopping establishments worldwide!

Requirements:

• Minimum monthly income of RM2,000 (RM24,000 per annum)
• Annual fees RM206.70 per annum for principal card, RM106.00 for supplementary card. No annual fees for the first year by using the card for three times within 60 days of card approval.

Maybank Islamic Mastercard Ikhwan Gold Card

This is an ideal credit card for those looking for a basic card or a basic and Islamic credit card. Features of this card are as below:

• 5% rebate on petrol and groceries spent on Friday and Saturday.
• Free Maybank Touch ‘n Go Zing card.
• Cardcare Takaful plan which is available for all Maybank Islamic Ikhwan Visa and American Express cardholders. With contribution of RM0.28 a month for every RM100 of your outstanding card balance you will be covered of up to RM100,000. The coverage will be on your credit card debt in the event of sickness or accident.

As for the cashback, you will need to charge at least RM1,000 monthly to this card to receive the RM50 maximum monthly cashback.

Requirements:

• Minimum income RM2,500 (RM30,000 per annum)

Petronas Maybank Visa

This is another card you can consider to help you save on your petrol cost. You will also get additional privileges from this card as below:

• 8x TreatsPoints on weekends
• 5x TreatsPoints on weekdays

The more points you collect, the more free petrol you can redeem!

Requirements:

• Minimum monthly income of RM2,500 (RM30,000 per annum)
• Lifetime free annual fees

CIMB Petronas Mastercard

This is a card you should consider if you frequently purchase fuel at Petronas as you can get up to 7% cash rebate everyday using this card. The cash rebate minimum spend are  stated below:

• 7% cash rebate with a statement balance of RM3,000 and above
• 3% cash rebate with a statement balance of RM3,000 and below
• 2% cash rebate on other retail spend

However, the cash rebate on Petronas spending will be capped at RM50 per month, but there is no limitation of cash rebate on other retail spending. Another benefit of this card is that it does not charge annual fee.

Requirements:

• Minimum income of RM2,000

AmBank CARZ Platinum Credit Card

Here’s another Shariah compliant credit card you can consider if you’re looking for an Islamic petrol card. It’s ideally  for those who do not want to limit themselves to only one petrol brand. With this card, you can earn cash rebate on any petrol purchase regardless of the brands. Revolvers will get 3% rebate while transactors will get 2% rebate capped at RM20 per month. Aside from that you will also collect CARz Point which you can then use to redeem auto-related goods and services.

Requirements:

• Minimum income RM2,500 (RM30,000 per annum)
• No annual fees as it is free for life for principal card, and first 3 supplementary card is also free.

UOB One Card

If you’re an entertainment lover and looking for your first credit card, this is the ideal card for you! You’ll get cashback when you watch movies at GSC and also when you pump petrol. Additionally, you can also save money when you charge your groceries to this card. The benefits of the UOB One Card are:

• Unlimited cashback at Golden Screen Cinemas (GSC).
• Maximum petrol spending of RM300 per month is entitled for cashback (2% weekdays, 5% weekends), valid at all petrol stations.
• Maximum of RM1,000 spend on groceries and RM200 on telco will be entitled for cashback.
• Cardholders also get to enjoy the SMART$ rebates for more savings.

Requirements:

• Minimum monthly income of RM2,000 (RM24,000 per annum)
• RM68 annual fee for principal card and RM30 for supplementary card. You can enjoy an annual fee waiver with 16,000 UNIRinggi

Citi Rewards Platinum Card

This is one of the best credit cards for a rewards hunter because it offers customisable categories where you get to choose how you earn your rewards. Cardholders will get 5x reward points when shopping at participating merchants which includes categories like shopping, entertainment, travel and more.

Then, you get to use the points you’ve collected to spend at participating stores like Parkson, Marks & Spencer, Uniqlo and more as Instant Rewards. You could also use the points to redeem gifts, air tickets and cash voucher from the Rewards Catalogue.

Requirements:

• Minimum income RM3,000 (RM24,000 per annum)
• Annual fees of RM106 with 2 free categories for the first year for principal cardholders. Waived when card is swiped 3 times within 60 days of approval; complimentary for supplementary cardholders.

RHB Smart Value Credit Card

If you’re looking for both a cashback card and a card that can reward you for shopping and entertainment, this is the card you should consider! Cashback information for this credit card is as per below:

Requirements:

• Minimum monthly income of RM2,000 (RM24,000 per annum)
• Annual fee: RM74.20 for principal cardholder and RM42.40 for supplementary cardholder 
  

Hong Leong Sutera Platinum

Be rewarded when you shop, dine and travel using this card! Among the benefits you will get from using this card is complimentary access to Plaza Premium Lounge, travel insurance coverage and 24 hours Visa Platinum Concierge.  As for rewards, you can get up to 6x reward points, more details below:

Requirements:

• Minimum income RM5,000 (RM60,000 per annum)
• Annual fee: Waiver for first year by performing at least one retail swipe 45 days from the card’s approval date. Subsequently RM424 for Principal cardholders and RM212 for supplementary cardholders.

Alliance Bank You:nique

Want a cool looking card that will also help you save money when you pump petrol? Consider the You:Nique cards which offers the unique feature of having a personalized credit card and also Choose your personal preference feature between rebates, rates or rewards to save more. If you choose rebates, you can get up to 3% cashback and 2 reward points for every RM1  on overseas and retail spendings.

Requirements:

• Minimum monthly income requirement of RM2,000
• The annual fee that will be charged for this card is RM148 which will be waived for its first 3 years. For the subsequent years, you’ll be able to get the annual fees waived if you spend RM5,000 or 12  transactions annually.

OCBC Great Eastern Mastercard

If you don’t like restrictions, this card may just be the one you are looking for! You will receive rebates on ALL retail spending, there are no cap on rebates and no minimum spend or swipe needed to receive rebates.

Requirements:

• Minimum monthly income of RM2,000
• Must be a Great Eastern policyholder

Alliance Bank Platinum Card

Choose between Visa or Mastercard and enjoy more savings with Alliance Bank’s Platinum Card. This card will not only reward you when you fill petrol, but it will also let you redeem air miles for Enrich Miles and AirAsia BIG Points (for VISA credit card only). You will also receive privileges and discounts at participating merchants. The points you will receive for each spending are as below:

• 3x for every RM1 spent on overseas retail
• 2x for every RM1 spent on petrol, grocery and utility
• 1x for every RM1 spent on other domestic retail

You will also be pleased to know that the points do not expire!

Requirements:

• Minimum monthly income RM5,000
• Annual fee waiver every year with minimum spend of RM5,000 or 12 swipes within 12 months period.

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