Updated: Oct 16
Esso has recently announced a promotion which we feel cannot be missed!
So the promotion is you get to REDEEM PETROL WITH LESSER POINTS! Every weekends only till 1 Nov 2020!
Previously you can only get
$30 with 750 points
$10 with 300 points
Assuming petrol is S$1.80 per litre after discount and you earn 1 point for every litre,
750 points is equivalent to S$1350 spent! $30 redemption will work out to be 2.22% rebate.
300 points is equivalent to S$540 spent! $10 redemption will work out to be 1.85% rebate.
BUT NOW, with the promotion,
600 points is equivalent to S$1080 spent! $30 redemption will work out to be 2.78% rebate!
240 points is equivalent to S$432 spent! $10 redemption will work out to be 2.31% rebate!
So now is the BEST time to redeem your points!
BUT HOLD A SECOND!
Let me teach you another trick to get more out of your redemption!
First, you will need to have a DBS Esso Credit Card. The DBS Esso Credit Card will give you straight 18% discount, compared to Citibank credit cards that give you only 14%.
In ESSO, the redemption works this way:
Final price = Pump price - discounts - redemption
This is extremely important because the aim is to get the highest discount upfront with Esso Smiles Points redemption.
Thus all you need to do is pump S$37.00 worth of petrol. (Actually it is S$36.60 but S$37.00 is easier to key in.)
The sum will work out as:
S$37.00 - 18% (DBS Esso discount) = $$30.34 - S$30 (Smiles Points Redemption) = S$0.34
The difference between DBS Esso and Citibank Credit Card is:
Assuming petrol is S$2/litre
For DBS Esso 18% discount: $30 / 0.82 = S$36.59 = 18.29 litres
For Citibank 14% discount: $30 / 0.86 = S$34.88 = 17.44 litres
So by using a DBS Esso Credit Card, you get 0.85 litres more for redeeming $30 worth of petrol!
This is the minimum you need to pump for the following cards/discounts:
DBS Esso Credit Card 18% discount: S$36.60
Citibank Credit Cards 14% discount: S$34.90
Esso Smiles card only/Other credit cards 10% discount: S$33.40