Petrol Credit Cards
‘Free Petrol’. It’s a concept which appeals to everyone of us who drives. While petrol credit cards are sought after in order to get the best deal on filling up the tank, is it worth the expense? Credit Card Finder investigates:
As with any rewards credit card – If you ever pay interest, a rewards card is not for you. If you pay interest, you’ll end up repaying more on the card than you will earning cheap petrol and purchases.
Petrol Credit Card Offer
The David Jones American Express Card is the perfect card for those who love shopping. Make every dollar you spend go towards Membership Rewards points which can be redeemed for David Jones Gift Cards and travel rewards. An introductory offer of 15,000 Membership Rewards points or 11,250 Qantas Frequent Flyer points when you spend outside of store 3 times in the first month.
- $99 p.a. annual fee
- 20.74% p.a. on purchases
- 44 days interest free
- Minimum Income Requirement of $40,000 p.a.
There are range of credit cards offering reward points for spending on petrol. Listed below are some of the options available:
The David Jones American Express Card:
- 3 gift points per dollar at millions of places around the world.
- Two points per dollar shopping in-store at David Jones.
- Exchange gift points for David Jones Gift Cards.
- No points capping or expiry.
- Introductory offer of 15,000 bonus points for spending outside a David Jones store within seven days of receiving your card – equates to $100 worth of David Jones Gift Cards.
Woolworths Everyday Money Details:
Find out what the Woolworths Everyday Money credit card has to offer the canny consumer. Make the most of your purchases with one of the most highly praised rewards schemes on the market.
The Woolworths Everyday Money credit card is a loyalty rewards card that has gained great praise since its inception. The idea is that you earn points wherever you shop, but you earn more points for making purchases at Woolworths group stores or partner stores.
If you have earned sufficient points, every four months you receive a shopping card that can be used in Woolworths group stores. Shopping cards are sent out in minimum values of $20, which is the equivalent of accumulating 3,448 points. After that, they increase in $5 increments (862 points). Any points that do not go towards your shopping card for the previous four months are carried over and count towards your shopping card for the next four month reward period.
To make sure you earn the maximum amount of points, you just need to use your Woolworths Everyday Money credit card whenever you make a purchase, and try to make those purchases in the stores that will reward you the most.
To top it all, there is an excellent annual fee of $49.
Key features of the Woolworths Everyday Money credit card
With the Woolworths Everyday Money credit card you get all these features:
- No annual fee for the first year, and only $49 in subsequent years
- Purchase rate of 19.84% p.a.
- Cash advance rate of 21.34% p.a.
- 55 interest-free days on purchases
- Free additional cardholder
- Chip security
- MasterCard PayPass
- Choose from four card colours: black, pink, blue and green
- 3 reward points for every dollar spent on Woolworths Select products purchased at Woolworths or Safeway Supermarkets, excluding online purchases
- 2 reward points for every dollar spent on other products purchased at Woolworths or Safeway Supermarkets, BIG W, CALTEX WOOLWORTHS/SAFEWAY co-branded fuel outlets, epump, Woolworths/Safeway Liquor, BWS, Dan Murphy’s, Thomas Dux, and participating Dick Smith and Tandy stores
- 1 reward point for every dollar spent elsewhere on other purchases
- Pay at the pump with your Woolworths Credit Card at participating CALTEX WOOLWORTHS/SAFEWAY co-branded fuel outlets and earn 2 points for every dollar you spend using epump
Applying for the Woolworths Everyday Moneyâ„¢ credit card to apply for this special card will take you just 10 to 15 minutes. You will need:
- Personal details, including driver’s licence number
- Contact details, including address, phone numbers and email address
- Employment details, including time in current job
- Details of income and expenditure
You must also satisfy some basic criteria, namely:
- You must be over 18 years of age
- You must have a good credit rating
- You must be a permanent Australian resident
- You must earn a minimum taxable annual income of $20,000
Read the Woolworths Everyday Money Card terms and conditions.
Citibank BP MasterCard Review:
While being only one of a few petrol discount cards in Australia, it is by no means uncompetitive. If you spent:
- $125 at BP on petrol a month
- $750 paying your bills and other purchases on your BP MasterCard, you’ve saved:
- $86 for the whole year: including offsetting the annual fee.
If you’re a frequent BP customer, or just all round frequent credit card user, you’ll understand the potential for $100′s saved.
*Note: Calculations made using old 1% off purchases figure. Current rate 0.5%.
How Much Money Can I Save with the Citibank BP MasterCard?
It depends how you use it – generally, the more you spend on your credit card, the more money you will save. However, there is more to it than that.
- You’ll need to spend at least $100 a month on BP Petrol and $160 a month on purchases elsewhere to save $79 – the cost of the annual fee. If you won’t even spend enough on your card to offset the annual fee, then this card will cost you more than it will save. (Note this calculation uses the old cashback rate of 1% – current rate 0.5%).
- However, if you envision yourself spending more than this minimum each month, without racking up interest, then there is definitely a potential for cold-hard savings
- Just like any reward program, a petrol credit card makes sense if you use it correctly and spend enough on it each month to accumulate savings.
Who isn’t the card suitable for?
Like any card with a reward’s program or cash-back offer, if you don’t use your credit card regularly enough to at least offset the annual fee, then pass and apply for a low interest credit card instead.
What are some of the catches associated with the card?
- The 5% discount at BP is capped at the first $300 of each new statement period. For petrol and petrol station groceries, it’s still quite a high cap. After $300, the discount reverts to 0.5%.
- The 0.5% cash-back offer everywhere else is limited to the first $5,000 spent per month.
- 20.89% p.a. interest rate and a $89 annual fee
GE Money & Coles MasterCard Review:
Find out why the GE Money & Coles MasterCard is such a generous credit card. Check out its great package of features that are rarely found together on one credit card.
The GE Money & Coles MasterCard is a pretty unique credit card in today’s market. It offers such a variety of great features that it looks like several credit cards have become all mixed up in one by mistake.
Firstly, there is an introductory offer on balance transfers of 0% p.a. for 6 months when the account is open. As is normal with balance transfer offers, this is valid on transfers from credit cards issued by other providers only. Whilst there was recently a good choice of these 0% six month deals, very few now remain, so the GE Money & Coles MasterCard is something of a coup for the canny customer.
What is even more unusual is to find such a balance transfer deal on a card that does not charge an annual fee. No annual fee credit cards are generally no-frills cards that offer little more than the opportunity to save on the yearly account management charge. They normally do not offer such attractive introductory offers.
As for the number of interest-free days available on the GE Money & Coles MasterCard, you don’t get the normal 44 or even 55 days; instead you can enjoy up to 62 days interest-free on your purchases, giving you even more time to settle your bill in full and thus avoid interest charges. This not a case of keeping up with the competitors because this is not seen on other credit cards. In fact, certain no annual fee credit cards do not even offer any interest-free days, which is a means of attempting to recoup a little money from you should you actually be impertinent enough to use your credit card for anything.
Another benefit of the GE Money & Coles MasterCard is that it offers rewards as well. Again, this is not the norm on a credit card that does not charge an annual fee. With these rewards, you can earn FlyBuys points and also save on your fuel purchases. A final bonus is that you can enjoy regular interest-free offers throughout the year on selected purchases at certain Coles stores.
Key features of the GE Money & Coles MasterCard
- 0% p.a. for 6 months on balance transfers
- $49 annual fee
- Up to 62 days interest-free
- Regular savings on fuel – just follow 4 simple steps to save 8 cents per litre on fuel
- Earn more FlyBuys points – Earn 2 FlyBuys points for every $5 spent on your linked Coles MasterCard at Coles stores, and also receive your standard FlyBuys points at participating outlets when you present your FlyBuys card when you make your purchase
- Interest-free offers – Take advantage of regular special offers such as 3, 12, 24, 36 and 48 months interest-free on selected purchases at participating Coles stores
- Enjoy special shopping offers and invitations to shopping events
- 19.99% p.a. interest on purchases
- 19.99% p.a. interest on cash advances
If the GE Money & Coles MasterCard sounds attractive – and why wouldn’t it with such a combination of features – then why not make an application today?
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