American Express has renewed its popular SPC offer for 2022, which allows registered cardholders to save up to 21% off petrol
Registration is now open and capped at 60,000 cards, so be sure to login to the AMEX app or online banking portal and complete it as soon as you can.
|❓ What are AMEX Offers?|
AMEX Offers are opportunities to earn bonus miles/points, or statement credits. These can be found in the “Offers” section of the AMEX app or web portal.
Registration is required, and some offers may be targeted. These are not applicable to DBS, Citi or UOB AMEX cardholders.
Save up to 21% off petrol at SPC
From 18 January to 31 December 2022, American Express cardholders can save up to 21% off petrol at SPC. This is broken down as follows:
- 10% discount for SPC&U Members
- 5% discount for American Express cardholders
- 7.1% rebate for registered American Express Cards
The mathematically-inclined amongst you might notice that 10+5+7.1=22.1%, so why are the savings quoted as 21%? It comes down to discounts versus rebates. Cardholders will receive a 15% discount upfront, with a further 7.1% rebated to them via statement credit.
For example, if you purchase S$100 worth of petrol:
- You’ll pay S$85 at the counter (15% discount)
- You’ll receive a 7.1% rebate from S$85 (S$6.04) credited to your account
- All in all, you’ve paid S$78.96 for S$100 of petrol, a discount of ~21%
The maximum statement credit that can be received per registered card is S$120, which means you’d max this out with ~S$1,690 of petrol spending (after the 15% discount).
If you use more petrol than that, you can register more than one card- I see the SPC offer available across my AMEX KrisFlyer Ascend, AMEX Platinum Reserve, AMEX Platinum Charge and AMEX HighFlyer Card. Out of consideration to other cardmembers, however, please only register as many cards as you need since there’s an overall registration cap of 60,000 cards.
Statement credits should reflect on your account within five business days from qualifying spend. The full T&Cs can be found below:
Terms and Conditions for 15% On-site Fuel Savings at SPC at amex.co/spc15percent
Terms and Conditions for 7.1% savings via statement credit, on all purchases at SPC
No miles or points for SPC transactions
Back in March 2020, American Express updated their rewards T&Cs to exclude SPC altogether. This was a surprising move, given that up till then, it was possible to enjoy the 21% discount together with regular miles/points accrual. While American Express is not alone in excluding rewards at SPC (UOB does it too), it does mean that using your AMEX card will be a purely money-saving play.
Is it worth forgoing miles/points at SPC in favor of a larger discount? It comes down to your personal valuation of a mile, really, but in general given the discounts on offer I’d say yes.
The AMEX True Cashback Card is exempt from this exclusion, so you could potentially upsize your discount by a further 1.5% to 22.5%.
Pay with Points+ at SPC
|AMEX Pay with Points+|
|1,000 MR points||⇒|
In 2021, American Express launched an enhanced Pay with Points programme, aptly called Pay with Points+ (or PWP+ for short). This scheme allows cardholders to redeem Membership Rewards points at an enhanced rate at selected merchants.
SPC has been added to the PWP+ programme, which means you can redeem 1,000 MR points for S$6, instead of the usual S$4.80. But this represents poor value, because by choosing PWP+, you’re accepting an implicit value of
- For Platinum Charge/Centurion members, 1 mile= 0.96 cents
- For all other AMEX card members, 1 mile=1.08 cents
I’d pass on it.
What other cards can you use for petrol?
I recently updated my post on the best cards to use for petrol, which takes into account changes in discounts and miles cards over the past year.
If we’re approaching the question from a simple “which card gives the most miles, period” perspective, then the answer is pretty straightforward:
Where it gets complicated is that the best card from a miles perspective may not necessarily be the best card from a discounts perspective.
Have a read of the article to see how the various bank and station discounts stack, and which card offers the best value.
American Express has renewed its partnership with SPC, offering a 21% discount for registered cardholders throughout 2022.
This does come at the expense of earning miles, however, and if miles are what you primarily you care about, the UOB Preferred Platinum Visa and Sinopec stations are your best friend.