With the new year, it's time to get your savings game on and time to really make the most of your credit cards to help you save for your new year goals. 


One of the most effective ways to save towards your goals is to find ways to save on monthly expenses you're already making and will continue to make in the new year. And if you own a car, there's really no way around paying for petrol. 

However, there are ways to cut back big time on your petrol expenses with the right credit card. 

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Here are our top picks for 2020. 

Best credit cards for SPC users

POSB Everyday card

POSB Everyday Card

When it comes to cutting back on essential spending, the POSB Everyday Card is a great option. For petrol, in particular, the card offers an extraordinary 20.1% cashback rate when you pump at SPC. 

But it doesn't stop there, cardholders earn 15% cashback on online food delivery and public transport (bus and MRT).

Plus, the card even offers a 1% cashback rate on recurring bills, which isn't usually offered by most credit cards. Albeit, the cap is a mere S$1 per month, but every dollar counts!

There is a catch, however, that you'll want to consider. 

Your cashback rate will be determined based on your own Personalised Spend Goal, which is calculated based on your average spending patterns. If you don't hit your personalised minimum for the month, the cashback rate for the month will be a significantly lower 0.3%. 

UOB One Card

UOB One Card

If most of your spending is on your credit card and you regularly spend S$2000 on your card monthly, you may want to consider the UOB One Card which has some of the highest-earning caps for credit cashback credit cards.

The card offers a 5% cashback rate for weekend spending on petrol. Meanwhile, earn up to 20.8% savings at Shell, 22.9% savings at Caltex and up to a whopping 24% at SPC! With high savings at 3 top fuel retailers in Singapore, this card is clearly a great option if you're not picky with your petrol as well. 

With its tiered quarterly rebate system, you can really maximise your cashback earnings with a 5% flat cashback rate, capped at S$300 per quarter. Meanwhile, its minimum spend of S$1000 per month gives cardholders a cashback rate of 3.3%. Not too shabby. 

| See also: 9 easy ways to lower petrol costs in Singapore |

Best credit cards for Caltex users

Standard Chartered Unlimited Cashback 

Standard Chartered Unlimited Cashback card

Are you a high spender? If so, you might feel limited by spending caps, which are common for most cashback cards.

With the Standard Chartered Unlimited Cashback card, you're not bound by earning caps, and you'll enjoy a 1.5% unlimited rebate on all spending.

If you're a Caltex loyalist, here's where it gets even better. When you pump petrol at Caltex, you'll earn up to 21% in cashback earnings through Standard Chartered's SimplyGo functionality. 

Where this card lacks in overall cashback rates, it makes up for in its unlimited cashback potential. And so, we would advise that if you spend an average of S$7000 per month, this card might be the one for you. And if not, keep walking. 

HSBC Advance

HSBC Advance Card

If your monthly credit card spending is above S$2000, you might want to give the HSBC Advance card a try. For all spending above S$2000, Advance users will earn up to 3.5% cash back for all spending, while non-Advance banking users will accumulate up to 2.5% in cashback earnings for spending the same amount. 

On top of that, you'll save up to 16% savings at Caltex and 14% at Shell, so this card is a great option as far as petrol savings credit cards go. 

The only catch is that you'll need a minimum spend each month of S$2000, and there is an annual fee of S$192.60, which is waived the first year and every year following with a minimum annual spend of S$12,500. 

Be sure to calculate your spending patterns to see if you're likely to meet this minimum, otherwise, it may be best to still consider the POSB Everyday Card or the next card on our list. 

Best credit card for Esso or Shell users

Citi Cash Back Card

Citi Cashback Card

Offering an impressive 5% petrol station discount at Esso, this credit card allows you to save up to 20.88% in discounts whenever you fill up your petrol at Esso with four types of discounts applied at once.

On top of the 5% petrol station discount, the others applied are an additional 5% Esso Smiles Card discount, a 4% Citi Card discount which applies to all Citibank cards and an 8% discount which only applies to the Citi Cash Back card - amounting to a whopping 20.88% savings in total when you pump Esso!

You'll get the same amount of savings of 20.88% when you get your petrol filled at Shell. This includes a 5% Shell site discount, 5% Shell Escape Card discount, 4% Citi Card discount and up to 8% cash back (after Shell and Citi discounts) with the Citi Cash Back Card. 

For Esso or Shell loyalists, this one's for you!

Still not sure which is best for you? Check out all of them side by side to give you a better idea. 

Credit Card Savings up to (%) Partner fuel retailers What we love
POSB Everyday Card 20.1 SPC 15% cashback on online food delivery and public transport (MRT and buses
UOB One  24 SPC, Shell, Caltex Huge potential savings at three major fuel retailers - 20.8% at Shell, 22.9% at Caltex and 24% at SPC
Standard Chartered Unlimited Cashback 21 Caltex Unlimited cashback potential with no cashback earning caps
HSBC Advance 16 Caltex Up to 3.5% universal cashback for Advance users who spend above S$2000 monthly
Citi Cash Back 20.88 Esso & Shell 8% cashback earnings on dining and groceries daily, worldwide 


Best petrol credit cards in Singapore in 2020

No matter which card is right for you, you'll be a lot closer to achieving your new year savings goals and cutting back on your petrol expenses once you've decided.

To help you through the process, GoBear's online comparison tool will take you through the best credit cards available in the market. 2020 savings goals, here you come! 

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Susanna Lim

Susanna Lim

Susanna is an experienced writer on topics such as personal finance, business and lifestyle. In her spare time, she's into reading and watching random documentaries.