Looks like we consumers will not be affected much by the adjustments in the way fuel is sold with credit cards at petrol stations.
Banks have agreed to reduce the charge imposed on credit card transactions at petrol stations by 0.3 percent to 0.95 percent. It was previously 1.25 percent. Petrol companies have also agreed to increase commission of 6.17 sen per 1 litre of petrol to 6.66 sen. Commission for diesel will go up from 2.05 sen to 2.44 sen per litre.
However, banks will stop giving bonus points to petrol purchase transactions for their credit card customer loyalty programs to offset the loss in revenue with the 0.3 percent cut in transaction charge.
The bottom line: Prices remain same for petrol purchase using credit cards, but you won’t get credit card reward points for them (this does not mean Bonuslink and Real Rewards).
After dabbling for years in the IT industry, Paul Tan initially began this site as a general blog covering various topics of personal interest. With an increasing number of readers paying rapt attention to the motoring stories, one thing led to another and the rest, as they say, is history. An avid electronic gadget aficionado as well as big-time coffee lover, he's also the executive producer of the Driven motoring TV programme.
This is Sound Better mah!
glad enough
Still bank win the battle, no bonus point:(
then no points for bonuslink/realrewards la….
i would highly recommend ppl to use Stand Chart c/c for BP gas. You get 2% rebate every month (i.e. credited to ur card) for BP gas transactions.
I think i did the math wrongly. 1.25% – 0.3% = 0.95
But if 1.25% – 0.03% Then u get 1.22%
K: bonuslink and realrewards still got. it just means there's no points to the credit card's own reward schemes. for example, rhb's air asia credit card points thing.
MyBoy: fixed it sorry
today if you allow pertol station to charge us consumer, tomorrow the supermarket will want to charge us too…. soon, everyone will want to charge us user to use the credit card.
then I will cut up all the credit card
ACTUALLY, some of the JOHOR BAHRU petrol kiosk stop credit card payment for the past 2 week; always said " OFFLINE".
Yay!.. this is good news indeed!!.. I always use credit card due to its convenience, and I never bother to own a bonuslink or real reward or made fake reward or whatever.
These so called 'reward' cards are actually ripping of the consumers in broad day light. What do you get with these so called reward points? a payung? later if you want better reward then accumulate more points lah, meaning more spending, in the end? the consumer loses.. get that idiot?
if any one banks still offer bonus points, i'll definitely use that card only! citibank maybe?
so…do we, the consumers, need to pay any extra using credit cards??
Paul, thanks for the info.
So bonuslink and realrewards still ONZ. great!
Well, I think its gonna be tougher and more competitive for c/c companies now. As for me, I'll go for the c/c that gives me points under consumer loyalty programmes from he c/c company. So, I wonder which c/c will issue a statement to their members first…
(I believe 30% of our c/c transactions are for gas… I pay bout 250/month, live in pj werk in kl (and i calculated that i use 0.13333 sen/kilometer. Does anyone have a better mileage car? i might wanna migrate to more economical car… thank you in advance)
These days we have no choice but to be a smarter and more cost oriented consumer.
k…
RM250 per month is CHEAP
my average petrol is about RM400 from PJ (home) to Ampang KL (work) per month…
and thats on 1.3liter engine!
all you have to do this dont pay fuel by cc for two months, then bank will tremble.haha
GGG: Well said
yes ..RM 250 per month is on the low side . 13sen/km ? On town driving …a honda city perhaps ? my average is about 20 sen/km … when i am in a hurry , i would average about 27 sen/km . My petrol comes to around Rm450 per month and dont bother to get bonus link though i am a loyal shell patron.
My average fuel consumption is around RM120 to RM 180 per month… bite me!
I drive Kancil 660, have been using Enertec92 (RON92) for a while, why should I use expensive petrol when the cheaper one is just as good?
ya isee alot of sel stations having a (cash payment only) notice at the pumps…u get the feeling thse petrol stations hate credit cards….
i only spent rm20 a month.
mind change into mz moskito anyone?
I can have a ride with RM0 patrol bill on my bicycle
dada ada sikit lapang.
—
GGG, in Malaysia it is almost impossible to gather large enough group of people to do that. If G with BOLEH "attitude" the rakyat with i don't care or y should i care attittude. If consumer group really united, there's a lot of thing we actually didn't have to pay or pay too high.
too unite and show on the street and you get ISA….hahah.
until the day we have freedom of press, we will never able to voice and be unite. too much censorhip.
GGG i agree with with you 100% no less
free county but not in voice.
Hmmm…. Oh well, you can't ask for everything. On the bright side, we will still get to use our credit cards at the pump AND we can still get bonus points for Bonuslink, Esso Mobil card, etc. On the negative, no credit card bonus points. Never mind la… One is better than none…
I don't mind colecting the Esso Mobil points la… At least that one has no expiry date. For Real Rewards and Bonuslink, there is a bloody expiry! So what Rosdi said is true. With normal usage, you would probably save enough points to get a "payung." Anything bigger or better would mean spending more to get more points. Its a bloody rip off if you ask me…
nak free jln kaki laaaaa…… tak pun ganti ngan minyak masak…….
minyak masak free meh?
hahaha..minyak masak also kena bayar 1, naik basikal also need to drink.. mana ada free meh?
at last, i see the bank always win (richer and becomes mo richer every day)
stewpid: We, the car drivers still need to drink, do we?
bank tu lintah darat tapi berlesen.
awat la bengap hangpa semua ni…. pi la mintak kat kedai mamak…… tak pun ambik kat McD….KFC….. mcm dlm ASTRO tunjuk tu……. mat saleh leh buat….. MALAYSIAN ALSO CAN……….
At the end, the consumer always lose. Lets all stop using CC for a month and see if the banks gives us back our reward points or not. But i guess malaysians just accept it.
IF YOU ALL WANT FREE BETTER WORK AT HOME MAH!
YOU OLNY PAY ELECTRIC BILL, TELEPHONE BILL AND INTERNET BILL……
AND.. NO FREE OLSO
MUAH HAHAHAH HAHA HA HA HA