UPDATE- The Petro-Points 6,000 points promotion mentioned below is only valid for Ontario residents only.
We previously wrote about the Esso Extra program.
Today we will focus on the Petro-Points program since there is currently a very generous promotion. Until May 12, 2014, you can get the Fuel Rewards Savings card for only 6,000 points (normally 12,000 points) and reload for only 5,500 points (normally 11,000 points). If you collect Petro-Points and looking to redeem your points, this is a great time to do so.
Fuel has become such a high expense for Canadians in the past several years especially and the cost doesn’t seem to be wanting to go down anytime soon either, if ever. Therefore, we mine as well get as much value out of the points program available to us.
You can really kick start your account with a 2,500 sign up bonus to the program and then add another 15,000 credit card sign up bonus. Don’t forget to constantly check for special promotions to add your points up quicker. First off, we will discuss the CIBC Petro-Points MasterCard that has the following highlights:
- No annual fee
- Earn 15,000 bonus points upon your first purchase
- Earn 5,000 bonus points for every $1,000 you spend per month
- Earn 15 points for every $1 spent at Petro-Canada, grocery stores and drug stores
- Earn 10 points for every $1 spent on all other purchases
- Instantly save 2 cents per litre of gas at Petro-Canada
If you fill up at Petro-Canada, this is a no-brainer, especially because there is no annual fee. If you can manage to spend $1,000 a month on this credit card, you points can add up in a hurry. If you can earn the full 5,000 all 12 months, you get a bonus 60,000 points per year.
Furthermore, you will notice that the credit card earns points even faster than just having the Petro-Points rewards card on fuel:
- Earn 20 points per $1 spent at the Petro-Canada convenience store and on car washes
- Earn 10 points per $1 spent on SuperClean, Ultra 94 or Diesel Fuel
- Earn 7 points per $1 spent on PlusClean Fuel
- Earn 5 points per $1 spent on RegularClean Fuel
The best reward to redeem is hands down the “Fuel Savings Reward” that costs 12,000 points. If only costs 11,000 points to reload the card online. This reward gives you and instant 5 cents per litre off on 200 litres of fuel. This will help you reduce the cost of your bill each time you fill up. They actually increased the value of this reward. It used to cost 15,000 points and 14,000 to reload. A big thumbs up to Petro-Canada for upgrading this reward!
I’m a big fan of the Petro-Canada points program and if you get the credit card in combination with your rewards card, you points can add up in a hurry and there is also a great reward for you to redeem your points with. Hopefully Petro-Canada continues to improve their program to remain as competitive as possible.