Are fuel cards worth it?

Want to earn points for refuelling your vehicle? Compare and apply for a Petrol rewards credit card.

Petrol is a necessary weekly expense, and one that you could be earning points on. A petrol rewards credit card is designed to help you save on petrol costs and earn you reward points. To help you decide if a petrol rewards credit card is a valuable option for you, we’ve looked at how they work and weighed up some of the pros and cons.

Credit Cards that offer Rewards Points for Spending on Petrol

Rates last updated October 1st, 2016.

American Express Platinum Edge Credit Card

Standard 10,000 bonus points offer has replaced the 30,000 bonus points exclusive offer.

September 1st, 2016

View latest updates

Jonathan Choi Jonathan
Rewards Points per $ spent (AMEX) Rewards Points per $ spent (VISA/MC) Bonus Points Annual fee
American Express Platinum Edge Credit Card
Receive 10,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Enjoy 0% p.a. for 12 months on balance transfers and receive a complimentary Virgin Australia domestic economy return flight every year.
1 0 10,000 bonus points $195 p.a. Go to site More info
David Jones American Express
The AMEX David Jones Credit Card gives you 3 points per dollar spent with fuel purchases at major petrol stations such as BP, Shell, Caltex and Mobil. Earn 1.000 Points per $1 spent.
1 30,000 bonus points $99 p.a. Go to site More info

How do petrol credit cards work?

A petrol credit card works similarly to a conventional credit card, allowing cardholders to earn rewards when they purchase petrol on plastic.

There are two card options to consider:

  • Direct earn petrol cards. Direct earn cards allow cardholders to earn cashback and discounts directly from purchasing fuel. They are not linked with any other existing rewards program but are connected to specific fuel retailers.
  • Indirect earn petrol cards. These cards reward cardholders for spending on a variety of eligible purchases. Points can then be redeemed for petrol discounts and vouchers. The reward programs for these types of cards also allow cardholders to redeem points for a range of other rewards.

Compare Petrol Rewards programs in Australia

Fuel cards can provide discounts and savings just by purchasing petrol. How much you save really depends on your lifestyle and spending habits.

The tables below indicate potential rewards you could clock up based on an estimate of yearly petrol spendings.

Woolworths Money Everyday Platinum credit card

The Woolworths Money Everyday Platinum credit card is an option that offers benefits for regular patrons of Woolworths and Caltex Woolworths. Currently, the card offers a $0 annual fee for the first year, followed by a fee of $49 per annum thereafter. Cardholders can enjoy up to 55 interest-free days, and a purchase interest rate of 19.99% p.a., along with special balance transfer offer.

With this card, every $1 you spend on eligible purchases earns you up to 3 points. These points can be converted into Woolworths Dollars shopping cards you can spend at Woolworths partner stores including participating Caltex Woolworths. Every $1 spent at Caltex Woolworths earns 2 points, and a minimum of 4,000 points is required to redeem a $20 shopping card. This is equivalent to a 0.5 cent per dollar spent earn rate.

Weekly petrol spendHow many points per year(based on a 52-week year and 2 points per $1 earn rate) Rewards
$202,080Nil. (You would have earned $10.40 worth in points but would be able to redeem a $20 shopping card only after 100 weeks)
$404,160$20 shopping card (or $20.80 worth in points)
$808,320$40 shopping card (or $41.60 worth in points)
$20020,800$100 shopping card (or $104 worth in points)
$30031,200$150 shopping card (or $156 worth in points)

If you are a regular Woolworths and Caltex Woolworths customer, and favour receiving a regular cash back over frequent flyer miles, this card might be a good choice for you. Find out more about the card here.

American Express Platinum Edge credit card

This card currently charges an annual fee of $195. It earns 2 American Express Membership Rewards points per $1 spent at major petrol stations (BP, Shell, Caltex, Woolworths, 7 Eleven, Safeway Petrol and Peak & Gull) , which can be transferred to one of your preferred partner programs including Virgin Australia Velocity Frequent Flyer or Singapore Airlines Krisflyer Frequent Flyer. At a one-to-one point transfer rate, this means that you earn 2 frequent flyer miles with each $1 spent on fuel at major petrol stations. Cardholders also enjoy 55 interest-free days, and a purchase interest rate of 20.74% p.a.

The following table calculates rewards based on the American Express Membership Rewards “Points for credit” program, whereby cardholders can redeem points for monetary credit to be spent on your credit card. A minimum of 8000 points is required to redeem $50 worth of credit, which is equivalent to a 0.625 cent per dollar spent earn rate. This rate changes progressively in tiers, where you receive a better earn rate at larger denominations, e.g. 14,500 points redeems $100 and 36,000 redeems $250, etc.

Weekly petrol spendHow many points per year Rewards
$202,080Nil.  (You would have earned $13 worth in points but would be able to redeem $50 in credit only after 200 weeks)
$404,160Nil.  (You would have earned $26 worth in points but would be able to redeem $50 in credit only after 100 weeks)
$808,320$50 (or $52 worth in points)
$20020,800$100 (or over $143 worth in points at an earn rate of almost 6.9 cents per dollar)
$30031,200$100 (or over $215 worth in points at an earn rate of almost 6.9 cents per dollar)

If you are a frequent flyer and prefer to accumulate points for flight redemptions, this would be a good card to consider. Even when comparing the earn rate for cash back, this card offers a better earn rate than the Woolworths Money Everyday card. Do note that you have to spend at least $80 a week on fuel to get any rewards, and there is a higher annual fee. Find out more about this card here.

Coles Rewards MasterCard

This card currently charges an $89 annual fee, and offers 62 interest-free days with a purchase interest rate of 19.99% p.a. With the Coles Rewards Mastercard, each $1 spent collects 2 points with the Coles-partnered flybuys rewards program. This is on top of any flybuys points that you earn with flybuys partners. The earn rate for this card is 5 cents per dollar when you choose to redeem 2,000 points for $10 to spend at Coles supermarkets or BI-LO. Only multiples of $10 may be redeemed.

Weekly petrol spendHow many points per year Rewards
$202,080$10. (You would have earned $10.40 worth in points but would be able to redeem only $10)
$404,160$20 (or $20.80 worth in points)
$808,320$40 (or $41.60 worth in points)
$20020,800$100 (or $104 worth in points)
$30031,200$150 (or $156 worth in points)

This card is a good option if you shop with Coles and its partner stores regularly, because it multiplies your flybuys points earn rate when you shop with flybuys partner stores. If you’re a frequent traveller, your flybuys points can also be converted into Etihad Guest miles. Find out more about the card here.

Earn Velocity Frequent Flyer points refuelling at BP

If your credit card doesn’t earn rewards points when paying for fuel, you could also sign up for a petrol rewards card that lets you earn points when you pay for fuel and swipe your card at the register. For instance, BP and Virgin Australia’s partnership means you can earn two Velocity points for every litre of fuel you buy at BP. Coles and flybuys have a similar alliance, meaning you can earn flybuys when you spend at Coles-Shell petrol stations. If you’re especially interested in earning frequent flyer points on petrol costs, you can see who offers the most competitive rewards program here.

Join the Velocity Frequent Flyer program for free

A fuel credit card can offer you rewards through your weekly fuel expenses These cards may offer a savings solution for customers who are continually on the road and frequently visit the fuel pump. However, whether they’re worthwhile will depend on how often you use your credit card for fuel and the rewards you could earn. Compare your options to find the right one for you.


What are the pros and cons of a fuel rewards card?

Pros

  • Rewards. Any opportunity to receive rewards for necessary costs is a plus. The reward is also instant, with the savings added to your account immediately after your transaction has been approved.
  • Additional cardholders earn rewards. You can often add a cardholder to your account, doubling the amount of points you could earn.
  • Extra benefits. Credit cards often come with additional features such as a frequent flyer rewards program, complimentary insurance or interest-free days that could provide you with other benefits.

Cons

  • High fees. Generally, there is a joining fee and ongoing annual membership fee when you sign up for a fuel rewards credit card. Some cards will also charge a service fee every time you fill up. Make sure that the value of the rewards exceeds the cost of the card.
  • High interest.Typically, rewards cards expect you to pay your outstanding balance at the end of each month. If this is not possible for you, you could have to pay high interest rate charges on your credit card balance.
  • Restrictions. Most petrol credit card providers are partnered with a particular service station. For example, if you have a Woolworths rewards credit card, you’ll only be able to earn points at Caltex co-branded fuel outlets. Make sure the card is partnered with the petrol station you usually go to each week.
  • Reward card competition. With such a wide range of rewards cards available, the fuel rewards card may not offer as much value compared with the competition. Consider how much you spend on fuel and where you want to see your rewards go.
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10 Responses to Are fuel cards worth it?

  1. Default Gravatar
    john | July 25, 2014

    there was a company recently who had a scheme for paying for fuel in advance, then getting a card for 5% discount at BP service stations,and if enough people come on board it will go Australia wide.. I live in perth and paid $50 in advance about a month ago but have not received card,,, I forget the name, but it was on TV advertising last month…do you know who this company was..??

    • Default Gravatar
      Marissa | October 29, 2014

      Hi John,

      That was with One Big Switch. This offer is no longer available but we definitely hope to re launch.

      Cheers,
      Marissa from One Big Switch

    • Staff
      Shirley | July 28, 2014

      Hi John,

      Thanks for your question.

      Apologies, I have no idea. I did a bit of research on Google and ‘One Big Switch’ came up, could that be the campaign you’re talking about?

      Cheers,
      Shirley

  2. Default Gravatar
    michelle | January 22, 2014

    hi, im wanting a fuel credit card that shows the litres, that also gives me points ?

    thanks Michelle

    • Staff
      Shirley | January 22, 2014

      Hi Michelle,

      Thanks for your comment.

      To our knowledge there aren’t any cards that actually show you how many litres you can get. How they work is that you earn points and redeem them for discounts off certain petrol purchases, or you earn more points for shopping at petrol stations.

      Cheers,
      Shirley

  3. Default Gravatar
    steve | December 1, 2013

    I purchase fuel at BP, which rewards card best helps me to earn points on my purchases.

    • Staff
      Jacob | December 2, 2013

      Hi Steve.

      Thanks for your question. You can have a look at our rewards card comparison on this page. You can click the table headings to arrange the cards, or if you would like a side by side comparison of credit cards, you can click the check boxes to the left of the card name, and then click compare.

      I hope this helps.

    • Default Gravatar
      Peter | June 12, 2015

      what is the best direct fuel card currently on offer????

    • Staff
      sally.mcmullen@hiveempire.com | June 12, 2015

      Hi Peter,

      Thanks for your question.

      Finder.com.au is an online comparison service, so we can’t actually recommend one specific product. Instead, we provide our users with the comprehensive information they need to develop their own informed decisions based on their individual needs. Therefore, the ‘best’ direct fuel card will depend on your unique financial situation and how you intend to use the card.

      With your individual financial needs in mind, you may wish to look over our Petrol Credit Cards page again and visit the Credit cards with bonus points for supermarket and petrol purchases comparison page to compare your options. If you have any more specific questions after making some comparisons, feel free to drop us another comment!

      I hope this has helped.

      Thanks,

      Sally

Credit Cards Comparison

Rates last updated October 1st, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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