Who are Caltex credit cards suitable for?
- Caltex loyalists. Would you rather fill up at Caltex instead of Shell, Esso, SPC, or Sinopec? Paying with a Caltex credit card could reward your loyalty.
- Maximise fuel savings. Given the cost of motoring in Singapore, the discounts on offer with a credit card can make a substantial difference at the end of the month.
- Rewards accumulators. Caltex savings generally aren't the only thing on offer with one of these cards.
What to compare for Caltex credit cards
- Discounts. How big are the discounts offered for spending at Caltex? Do they compare well with other credit cards?
- Exclusivity. Are the discounts limited only to Caltex stations, or can you also use the card at other petrol stations and still earn points? There are some cards with rewards on all petrol category spending.
- Caps and limits. It's not uncommon for a card to limit the maximum amount you can earn in terms of points or get as rebates. Also check if there is a minimum monthly spend, which some cards don't have.
- Additional benefits. Since most of these cards are a type of rewards credit card, there are generally other useful, generally travel-related, features such as airport lounge passes, travel credits, waived foreign currency fees, etc.
- Annual fees and interest rates. What does it cost just to have the card, and can the annual fee be waived? If you carry over a balance, what interest will be applied?
How to compare Caltex credit cards
- List down all the card options you're considering. Review discounts, benefits, and terms for each card.
- Work out the costs. Compare annual fees and interest rates. You're looking for the sweet spot, i.e. cards that are cheap to hold with the best package of rewards and discounts.
- Check eligibility criteria. Do not apply for a credit card if you do not meet the minimum criteria, since that's likely to result in being declined.
- Apply online. Finally, choose the card that suits your spending habits best, will maximise your fuel savings, and comes with the most useful package of benefits.
Pros and cons
Pros
- Potential for significant fuel savings at Caltex stations.
- Other perks and benefits, depending on the specific card.
Cons
- Discounts may only apply to spend made at Caltex petrol stations.
- Annual fees and interest rates can quickly offset savings.
FAQs
Can a Caltex credit card be used for discounts at other petrol stations?
It depends on the specific terms and conditions of the credit card. Some cards may offer discounts only at Caltex stations, while others might provide benefits at a wider range of petrol stations.
