As the costs of petrol and diesel soar to record ranges of over R26 per litre (for many grades), motorists would do effectively to check the reward programmes they make use of to verify they are incomes the utmost doable reward. For some customers, it might make sense to re-evaluate their selection of rewards programme altogether.
In some circumstances, one could also be ‘earning’ 10 factors per litre which is the equal of simply 10c, an insubstantial quantity. This will not be even half a p.c again on the present inland pump worth for 95 octane fuel (R26.74). Put one other means, at this stage, you would need to buy 267 litres of fuel at a value of over R7 150 to earn again the price of a single litre!
However, there are rewards companions the place you are capable of considerably simply earn again 30% and upwards of your spend.
Read: How can I save when I’ve nothing left to avoid wasting on the finish the month?
Broadly talking, there are three classes of entities providing fuel rewards programmes: nationwide retailers, fuel corporations themselves, and banks and different monetary establishments.
Retailers
Three nationwide retailers, as a part of their rewards programmes, at present supply fuel advantages through particular forecourt companions: Pick n Pay (Smart Shopper), Clicks (ClubCard) and Dis-Chem (Benefit programme).
All three supply the earn fee of 10c per litre, which on the present worth equates to 0.4% ‘back’.
The solely time these programmes actually make a lot sense, particularly at present costs, is once they are used along side one other extra profitable one.
For instance, one is ready to earn eBucks and Clicks ClubCard rewards at Engen. Similarly, one can earn Discovery fuel rewards and Smart Shopper factors at BP in the identical transaction.
Clicks additionally recurrently affords double factors on fuel each Wednesday; its present promotion runs till the tip of the month.
| Fuel retailer | Rewards programme | Points/quantity earned | % of retail fuel worth* |
| Astron Energy (Caltex) | Standard Bank UCount
|
Debit card: 20c to R2 per litre
Credit card: 30c to R5 per litre |
0.7% to 7.5%
1.1% to 18.7% |
| BP | Nedbank Greenbacks | 25c per litre | 0.9% |
| BP | PnP Smart Shopper/TymeBank | 10 factors per litre (10c) | 0.4% |
| BP or Shell | Discovery Bank | Up to twenty% | Up to twenty% |
| BP or Shell | Discovery Insure | Up to 50% | Up to 50% |
| Engen | Clicks ClubCard | 1 level per litre (10c) | 0.4% |
| Engen | eBucks (FNB/RMB) | 10c to R4 per litre (might be doubled up every quarter, if qualifying necessities are met) | 0.4% to fifteen%
Double up: 0.75% to 29.9% |
| Engen | eBucks (FNB/RMB) promotion – between July and September | R2.10 to R6 per litre, if fee is made utilizing digital card (might be doubled up this quarter, if qualifying necessities are met) | 7.9% to 22%
Double up: 8.2% to 37.4% |
| Sasol | Absa Rewards | Debit card: 0.5% to 4.5% per litre
Credit card: 1% to 30% per litre |
0.5% to 4.5%
1% to 30% |
| Sasol | Sasol Rewards | 30 factors per litre (redeemable at 1c per level till Aug 31) | 1.1% |
| Shell | Capitec Bank | 20c per litre when swiping V+ Rewards card and paying with Capitec card (40c per litre on 10th of every month) | 0.75% (1.5% on 10th) |
| Shell | V+ Rewards | 15c per litre | 0.6% |
| Total | Dis-Chem | 10 Dis-Chem Benefit rewards per litre (10c) | 0.4% |
| Total | Diners Club | 1 mile for each R30 | N/A |
| Total | Sanlam Money Saver bank card | R1 per litre | 3.7% |
* At the July 2022 inland worth of 95 octane petrol (R26.74 per litre).
Fuel retailers
Two of the fuel retailers, Shell and Sasol, have launched their very own rewards programmes.
Here, they are successfully utilizing a portion of their wholesale margin (45.5c) and/or some of their advertising and marketing finances to reward clients.
When signing up, it’s a must to share a good quantity of private data and choose in to permit the programme operators to speak with you.
These programmes permit the fuel retailers to start out constructing profiles of their clients which, till now, they’ve identified little or no about. Depending on the retailer-led programme, they are going to probably be requesting knowledge in regards to the base of consumers utilizing their loyalty playing cards in trade for them overlaying the cashback quantity (10c per litre).
Banks and monetary companies suppliers
Two of the banks’ choices are ‘modest’ compared to their rivals.
Capitec affords 20c per litre to clients who replenish at Shell and who swipe their Shell V+ Rewards card and pay with their Capitec card. On the tenth day of every month (what it calls ‘Live better day’), that is doubled to 40c, equating to 1.5% per litre. Nedbank’s Greenbacks affords money again of 25c per litre at BP.
Rivals Standard Bank (with UCount), Absa (with Absa Rewards), and FNB (with eBucks) supply far better incentives to make use of sure petrol stations.
These three banks are in a position to make use of a portion of the interchange payment charged on the point-of-sale to ‘pay’ for the rewards.
These three programmes are all primarily based on tiers and people clients on greater ranges (primarily based on their behaviour and the merchandise they maintain) will earn greater percentages.
Rates on debit playing cards vary from 20c to R2 per litre within the case of Standard Bank at Astron Energy/Caltex (equating to 0.7% to 7.5%) to 0.5% to 4.5% per litre with Absa Rewards at Sasol. On bank cards, the 2 programmes supply rewards of 30c to R5 per litre (1.1% to 18.7%) and 1% to 30%, respectively.
The worth in Absa’s programme has improved considerably lately.
FNB’s eBucks doesn’t have a distinction between debit and bank card, and affords between 10c and R4 per litre for purchases at Engen. This is the equal of 0.4% to fifteen% money again. These quantities might be doubled up every quarter, if three qualifying necessities are met: have energetic automobile finance with WesBank, make sure the automobile is loaded on the FNB app, and have all fuel spend at Engen. This takes the utmost earn quantity (at eBucks reward stage 5) to R8 a litre.
Last month, FNB introduced it could increase fuel rewards by R2 per litre for the following three months. This means qualifying clients might earn as a lot as R10 per litre again.
Read:
Discovery affords two fuel rewards programmes (at BP and Shell): one through Discovery Insure (the place policyholders can stand up to 50% of their fuel spend again every month) and one other through Discovery Bank the place the potential is 20%, depending on the cardboard held and Vitality Money standing.
For clients who already maintain a number of merchandise with Discovery, it might subsequently make sense to make use of Discovery Bank. A Discovery Bank Black Card account holder on Gold Vitality Money standing will get 11% again on their fuel spend. These are paid in Discovery Miles.
Read: Discovery offers Vitality members two massive causes to open an account
Ultimately, the steep improve in petrol costs has largely been because of the rise in product costs (pushed by the value of oil and the trade fee).
Aside from banks, which is able to give again some/a lot of the interchange payment (or use actuarial fashions to incentivise behaviour, as within the case of Discovery), there may be valuable little to play with – solely the wholesale margin of 45.5 cents per litre.
