On banks and fuel cost savings
June 28, 2008
I did it again, i just filled up another application form for another credit card! Although i have decided to limit my credit cards to two – one for personal use and the other for my travelling expense, care of my company, the weekly increase of the cost of fuel made me grab an application form and prepared for it’s requirements. It may be so that using your credit card to a consumable is not a good idea, well not with filling your car with fuel. And this is why i’m applying for one.
The big three as they commonly call them – Petron, Shell and Caltex partnered with BPI, Citibank, and HSBC respectively to provide consumers with loyalty programs such as rebates and promotional items, merchandises and reward points. This has been a customer relationship program for a while already and i simply ignored these because of my credit card rule. But i can’t help it if fuel cost are rising weekly with diesel to about PhP 50.xx. Every kilometer counts and every centavo saved can be converted to mileage.
The current rebate rates are;
- Petron-BPI : 3% http://info.bpiexpressonline.com/bpiprod/prodserv.nsf/Default+Pages/CreditCardPetron?OpenDocument
- Shell-Citibank : 5% http://www.shell.com/home/content/ph-en/shell_for_motorists/cards/scv_0425.html
- Caltex-HSBC : 3% http://www.caltex.com/ph/en/ph_hsbc.asp
I choose BPI-Petron, aside from the fact that both are local companies in which case one of consideration in choosing a product or service. The convenience of using both companies also became a great deal of qualification;
- BPI provides a good (if not one of the best amongst local banks) ecommerce platform. I can pay from my bank account through the internet, thus saving paper transaction and time.
- Compared to the gasoline stations in the proximity where i live, the price of Petron is the lowest – sometimes it can be the same.
- The annual fee is waived – for life. Which translates to about PhP 1,200.00. Savings you can use for your care tune up.
- With this scheme I intend to use the credit card for filling up the tank. Which also means i have one month leadtime to pay the bank. I can use the money to revolve for the meantime. I just have to make sure I pay everything when my bill is due.
How about loyaly program when buying rice!