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How India Can Learn from Singapore on Saving from Fuel charges – Using Credit Cards

India is fighting an open battle with the rising fuel prices. With petrol and diesel costs going up at a steeper rate than ever, the daily commuters are facing challenges taking their vehicles out. While we cannot know when this crisis is going to end, we sure can suggest ways you can save fuel charges. The best example being Singapore. Here is how Singapore is capitalizing credit cards to save fuel costs. Visit sites like bankbazaar.sg to compare credit cards and their offers.

Credit Card

Before we go ahead, understanding what credit cards for petrol are is paramount. The application is quite simple. If you are an extensive local traveller owning your own vehicle, you got to choose “Petro Credit Cards” in countries like Singapore while you apply for one. You choose the petrol station you visit the most and get a Petro Credit Card that provides maximum offer in it. Now, swipe your credit card every time you fill the tank up to the brim. Major benefits include:

1. Cash Backs
There are a line of credit cards that offer cash backs when you swipe them at your nearest gas station in Singapore. On a minimum amount discounts up to 14% are offered by major credit card companies. You can also avail cashback of 8% all the way up to 10%. While vehicle owners in India choose cash over any other mode of payment, individuals in Singapore are intelligently using their credit cards and saving big bucks.

2. Rewards
Banks in Singapore are also rewarding their customers with reward points for every swipr they do at gas stations. 2X, 3X and up to 5X extra reward points with every transaction is credited. As usual these reward points come in very handy when you use your credit card for other entertainment or shopping purposes. A better way to pump reward points is swiping your credit card every time across any of the petrol pumps in Singapore, even if you are bagged with cash.

3. Tie Ups
A Lot of banks tie up with gas stations to deliver discounts and offers if you pump up your vehicle their credit card at their station. This happens in Singapore and various other countries including India. The issue is individuals in India are ill-informed about these offers. For Indians, take some time out and browse the internet or call your banking service to know more about their tie ups with organizations that deal with fuel distribution.

There are various other features that come with major credit card providers including Citibank, HSBC, OCBC 365 Visa Card and UOB One Card. Get yourself a credit card now and start availing offers. Make sure you check with your bank for fuel discounts before you zero in on one card. Read all documentations related to the offers carefully.

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