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 will work for you, here we look at how they work and weigh up the pros and cons.
Credit Cards that offer Rewards Points for Spending on Petrol
Best Fuel Credit Cards in Australia
|Shell Card||A fuel card made for businesses. Earn flybuys points when you use your Shell Card at any Shell Coles Express site and manage your fuel consumption.|
|American Express Platinum Edge Credit Card||This card allows you to earn up to 3 points per $1 spent on purchases at major supermarkets (including Coles and Woolworths), 2 points per $1 spent at major petrol stations, and 1 point per $1 spent on most other purchases.|
|David Jones American Express||Earn 3 reward points per dollar spent at major supermarkets & petrol stations.|
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 Everyday Platinum credit card
The Woolworths Everyday Platinum credit card is an option that offers benefits for regular patrons of Woolworths and Caltex Woolworths co-branded service stations. 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 0% p.a. for 14 months 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 spend||How many points per year(based on a 52-week year and 2 points per $1 earn rate)||Rewards|
|$20||2,080||Nil. (You would have earned $10.40 worth in points but would be able to redeem a $20 shopping card only after 100 weeks)|
|$40||4,160||$20 shopping card (or $20.80 worth in points)|
|$80||8,320||$40 shopping card (or $41.60 worth in points)|
|$200||20,800||$100 shopping card (or $104 worth in points)|
|$300||31,200||$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.
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). Points can be redeemed for a range of rewards including travel, gift cards and merchandise. They 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 spend||How many points per year||Rewards|
|$20||2,080||Nil. (You would have earned $13 worth in points but would be able to redeem $50 in credit only after 200 weeks)|
|$40||4,160||Nil. (You would have earned $26 worth in points but would be able to redeem $50 in credit only after 100 weeks)|
|$80||8,320||$50 (or $52 worth in points)|
|$200||20,800||$100 (or over $143 worth in points at an earn rate of almost 6.9 cents per dollar)|
|$300||31,200||$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 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.
Coles Rewards MasterCard
With the Coles Rewards Mastercard, each $1 spent collects 2 points for the Coles-partnered flybuys rewards program. This is on top of any flybuys points that you earn with flybuys partners, such as Coles Express service stations. Points can be redeemed for travel, frequent flyer points, merchandise, gift cards. You can also redeem 2,000 points for $10 flybuys Dollars, which you can the spend at Coles Express, Coles Supermarkets (including BI-LO), Liquorland, First Choice Liquor, Kmart, Target, and Kmart Tyre & Auto Service. The earn rate for this card is 5 cents per dollar when you choose to redeem 2,000 points for $10.
|Weekly petrol spend||How many points per year||Rewards|
|$20||2,080||$10. (You would have earned $10.40 worth in points but would be able to redeem only $10)|
|$40||4,160||$20 (or $20.80 worth in points)|
|$80||8,320||$40 (or $41.60 worth in points)|
|$200||20,800||$100 (or $104 worth in points)|
|$300||31,200||$150 (or $156 worth in points)|
This card currently charges a $89 annual fee, and offers up to 62 interest-free days with a purchase interest rate of 19.99% p.a. It may be a good option if you regularly shop with Coles and other flybuys partner stores, as it allows you to earn more flybuys points per $1 spent.
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 Velocity’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.
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?
- 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.
- 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.