Infographic: Comparing credit cards for auto owners

Posted at 05/07/14 11:41 AM

(Editor's note: This article was written by MoneyMax, the Philippines’ foremost online platform for comparing financial and telecom products and services, for ABS-CBNnews.com. Find out more at MoneyMax.ph.)

MANILA, Philippines - Fuel drives human productivity. It powers human activities, and thus our dependence on oil can be illustrated by how we respond to oil price hikes. When the price of oil goes up, prices of basic commodities automatically follow. Every one of us is affected, and we have nothing to do but to endure the never-ending burden of inflation.

Since there are a lot of factors which affect the global market and price rollbacks barely happen, most consumers probably think that there is no way to deal with high fuel prices.

That is why banks offer specialty credit cards designed for auto owners giving fuel rebates or gas rewards from various oil companies. While fuel rebates are usually at 3%, every centavo which goes back to the credit cardholder is better than to get none at all.

Having a credit card that offers fuel rebates and other rewards is a great way of coping with price fluctuation or volatility. By accumulating enough rebates, every cardholder can possibly get an extra liter of fuel or have extra budget to shop for other commodities. If you have the right credit card, you can even avail of a 24-hour price shield.

Aside from fuel rebates and fuel price shield, majority of these specialty credit cards offer big discounts on vehicle products and services. Although a vehicle owner must already have the budget for regular maintenance, getting a 10 percent discount or more makes the expense lighter for vehicle owners.

Here’s an infographic to give you an overview of credit cards in the Philippines offering fuel rebates and rewards.