Business

Is a Shell Mastercard Worth it for 2024?

4 Mins read

Gas prices have been rising all across the world.  Unsurprisingly, that trend has started to impact Norway as well.  It feels like it’s more expensive than ever to purchase fuel, and that’s not exactly something that seems like will be slowing down any time soon, either.  Are there ways for us to reduce the stress on our wallets, though?

Thankfully, the answer to that question is a resounding “yes.”  If you’d like to learn more about how we can accomplish that, then make sure to stick around.  We’ll be covering some of the ways you can save on fuel, or at least, ways that you can earn money back for making those fuel purchases (which you were already going to make).

Rewards Credit Cards: What are they, anyway?

You may have guessed this already, but for the most part, we’re talking about rewards credit cards.  In order to properly understand how they work with fuel in particular, let’s first explore what they are and how they work.  After all, each type of reward works a bit differently, so it can be good to know what’s out there before you make any firm commitments either way.

Travel Reward Cards

Travel or miles rewards credit cards earn points or miles for every dollar spent, as their name suggests. These rewards can be accumulated and later redeemed for various benefits, such as free flights, hotel stays, merchandise, or gift cards.  Typically, they’re aimed towards folks who travel quite often, upwards of five or ten times a year, in fact.

If that sounds like you, then you may want to check one like this out.  Just remember that a travel rewards program isn’t the same as a fuel or gas one (which we’ll be covering later).  Rather, these ones are usually geared towards people who travel by airplane or train, though heavily favoring the former.

Cash Back Reward Cards

These are the ones that most folks have heard of before, at least in passing.  Cash back rewards credit cards provide some percentage of your purchase amount back to you as cash.  This can come in a lot of different forms, and you don’t necessarily have to redeem it as cash.  Some other options include gift cards or statement credits.

Let’s take a moment to examine an example of this.  Let’s imagine that a card may offer two percent cash back on all purchases.  This means that for every one hundred NOK spent, two NOK will be credited back to the cardholder.  While this is a very simplified example, you can still get a sense for how this works.

Sign-on Bonus Cards

Another sort of bonus that you might find are ones that offer an incentive for opening an account.  You may get promotional mail or e-mails telling you that you’ve been pre-approved for these ones.  Often, it will be something like, if you spend five-hundred NOK within the first year of opening the card, then you’ll get all of that matched as cash back at the end of that period.

Now, just remember that this is only one example of how it might work.  There are all sorts of potential sign-on bonuses, and some will be something as simple as a lower interest rate the first few years of being a cardholder.  Always be on the watch for the options!

Fuel Reward Cards

As you’ve likely figured out already, these are the main types of cards that we’re focusing on today.  A gas or fuel credit card is a type of credit card designed specifically for purchasing fuel. It is often offered by gas station chains or major oil companies such as Shell, as we hinted at earlier.  

Gas credit cards typically offer rewards or discounts on fuel purchases, such as cash back or loyalty points.  That’s sort of the incentive to get one, really.  Usually, these cards can only be used for buying gasoline or other automotive fuels, but keep in mind that they may offer additional benefits like roadside assistance or specific perks for gas station purchases.

For additional information about them, you can check out this page: kredittkortinfo.no/shell-mastercard/, at least for some details about how they work here in Norway.  Often, because there are such a wide variety of issuers out there, you can find some additional bonuses that come with having a fuel card.

What might that look like?  A prime example is receiving discounted fuel at that specific retailer’s locations for the first thirty days of your account, or something similar to that.  Additionally, they tend not to place a cap on the cash back that you can receive, which is unique in terms of these programs.  Usually there is some sort of limit.

With all of that said, there are some caveats here.  For instance, it is important to note that rewards credit cards often come with higher interest rates and annual fees compared to regular credit cards.  This goes for fuel cards as well, though it won’t always be the case.

Therefore, it is crucial to use these cards responsibly and pay off the balance in full each month.  This way, you can avoid accruing interest charges that may outweigh the benefits of the rewards in the first place.

Are Fuel Cards Worth it?

The big question left here is simple: is it going to be worth it to open a fuel credit card account?  We can’t necessarily answer that definitively, but we can help you to decide the answer for yourself at least.  To a large extent, it will depend on your current financial situation.

Take a moment to consider your current spending habits.  Are you someone who often purchases fuel?  For those who use public transportation options instead or carpools with someone else, then you may not want to get a credit card that is only able to be used for gas purchases.

Of course, if that isn’t the case for you, and you do frequently have to buy gas, then these cards may be an opportunity for you to get cash back and other rewards alongside purchases you’d already be making.  At the end of the day, that’s the big appeal here.  If that does sound appealing to you, then you may want to explore your options.

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