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Worth Using MBNA Smartcash Over Citibank's PetroPoints & PC Financial MC's?

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  • Oct 24th, 2012 4:00 pm
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Member
Oct 19, 2002
294 posts
11 upvotes

Worth Using MBNA Smartcash Over Citibank's PetroPoints & PC Financial MC's?

Hi Everyone!

I've been using a longtime user of the Citibank PetroPoints Mastercard credit card at PetroCanada gas stations and PC Financial Mastercard credit card at No Frills grocery store and the odd time Loblaws or Real Canadian Superstore grocery stores.

The main advantage of Citibank's PetroPoints MC was saving 2 cents per litre on gas and when I have the Fuel Savings Reward card to save another 5 cents per litre(after redeeming my 15,000 points of course), I can save 7 cents per litre. With gas now over $1 per litre, the credit card gives me <2% savings, with potential for another <5% savings from the Fuel Savings Reward Card. Plus I get 10 PetroPoints on top of that for every $1 I spend. So 2 benefits for purchasing gas. How does MBNA Smartcash compare to its 3% savings on gas? Is it worth using the MBNA when buying gas at PetroCanada? I suppose its worthwhile when buying from other gas stations.

Also I use PC Financial Mastercard at No Frills, Loblaws, Real Canadian Superstore mainly since I already have a sum of points there but have not used. I can start redeeming $20 in groceries by using 20,000 PC points (after spending $2000 to earn them). So in essence $10 for $1000 spent or 1% in rewards. I guess its better to use MBNA Smartcash to obtain 3% cash back at these and other grocery stores then? I guess this is without factoring in any extra bonus points when you bring in your PC Green shopping bag. :)

Any ideas on whether its worth it to use MBNA in either or both situations? It sure is comforting to know MBNA gives 3% on gas & groceries and 1% on everything else! Just looking to find the best ways to maximize returns or rewards at PetroCanada gas stations or others and NoFrills and other grocery stores.

Any ideas would be great!
27 replies
Newbie
Dec 3, 2010
56 posts
I don't know where you are located , but here , the best combination for gas is the MBNA SC 5% + 4.5cent per liter Superbucks cashback at the RCSS Gas Bar
Deal Fanatic
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Jul 4, 2005
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Ottawa
With gas above $1, it's hard to pick, but I'd stick with the CitiBank, since the savings are instant. I guess you should switch to SC if there's another gas station that provides more mileage for your money. I've heard ppl say Shell > PC. :confused:
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Dec 11, 2005
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The fuel savings card should not even factor into your decision because it is pretty much the worst possible way you can redeem your petro points (they work out to around 0.67% return, so at $1 / litre you are getting 2.67%).

No one should ever get that card. If you don't want to save up for free flights, then use them for car washes, they are by far the best value and you get 2x or 3x more value than you do on those stupid gas savings cards. If you redeem for car washes you can get around 3% return, so at $1 / litre you are getting 5% back.

Also, the more expensive the gas the less return you are getting back from the petro card, since it is fixed.

Any way you cut it the petro-points card will never get you close to the 3% back you get with Smartcash, for the simple reason that when you use it *you still get the petro-points*. IE you get 3% + 3% = 6%. The only way citi would be better is if gas is 50 cents / litre or something.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
Deal Addict
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Dec 28, 2004
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Burlington
I had both Petro and Pres Choice MC's. I kept the Pres Choice but I switched to using the SmartCash for my main card.

SmartCash + PetroPoint card = 3% (3C if gas is $1.00) + points.
Petro MC = 2C ( <2% if gas is over $1) + points

Groceries on SmartCash are better than PCF MC.
Deal Addict
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Nov 17, 2008
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budfrogs wrote: I had both Petro and Pres Choice MC's. I kept the Pres Choice but I switched to using the SmartCash for my main card.

SmartCash + PetroPoint card = 3% (3C if gas is $1.00) + points.
Petro MC = 2C ( <2% if gas is over $1) + points

Groceries on SmartCash are better than PCF MC.

+1, I'm doing the same.
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Dec 28, 2004
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oh also forgot a major point.

If you are someplace without a PetroCan and get gas at a different station.

SmartCash = 3% back
PetroCard = 1% PetroPoints (depending on what you spend them on)
Newbie
Dec 26, 2009
77 posts
23 upvotes
Hi Rainman,

I did the calculation. Feel free to point out any mistakes that I’ve made.

Using the Citi Petro-Points MasterCard, you receive:

- $0.02 off every litre of gasoline
- 10 Petro-Points for every dollar you spend

Assuming gas is around $1.20/L (prices here in Vancouver are around $1.189/L), the percentage savings on getting $0.02 off every litre is:

- $0.02 / $1.20 = 1.67 %

For the Petro-Points, assuming that you can redeem 11 000 Petro-Points online for a $10.00 Fuel Savings Reward Card (which is not always the case):

- petro-canada-petropoints-fuel-savings-r ... -a-987676/

- If you receive 10 Petro-Points for every dollar you spend, then you need to spend $1100.00 on gas in order to earn 11 000 Petro-Points (10 * $1100.00) for a $10.00 Fuel Savings Reward Card
- $10.00 / $1100.00 = 0.91 %

Add up both percentages and you end with a total of around 2.58% (1.67% + 0.91%) in savings.

Therefore, the savings that you receive in total from using the Citi Petro-Points MasterCard depends on the pump price as well as the number of Petro-Points needed to obtain a Fuel Savings Reward Card. If gas was $1.00/L, the MBNA Smart Cash Platinum Plus MasterCard still comes out slightly ahead - 3% of cash savings compared to 2.91% (2% in cash savings and 0.91% of Petro-Points) – but with crude oil hovering over $100.00 a barrel, using the MBNA Smart Cash MasterCard is a no-brainer.

And I just want to reiterate one more point: as brunes has already mentioned, you can’t factor in the Fuel Savings Reward card as part of your decision-making process as you can use both a Fuel Savings Reward card and a MBNA Smart Cash MasterCard at the same time.

Finally, in regards to your question about the PC Financial MasterCard: yes, it would be more advantageous for you to use the MBNA Smart Cash MasterCard (3% in cash savings) instead of the PC Financial MasterCard (1% in PC Points) when purchasing your groceries.

Hope this helps.
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Dec 11, 2005
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Al Bundy wrote: Hi Rainman,

I did the calculation. Feel free to point out any mistakes that I’ve made.

Using the Citi Petro-Points MasterCard, you receive:

- $0.02 off every litre of gasoline
- 10 Petro-Points for every dollar you spend

Assuming gas is around $1.20/L (prices here in Vancouver are around $1.189/L), the percentage savings on getting $0.02 off every litre is:

- $0.02 / $1.20 = 1.67 %

For the Petro-Points, assuming that you can redeem 11 000 Petro-Points online for a $10.00 Fuel Savings Reward Card (which is not always the case):

- petro-canada-petropoints-fuel-savings-r ... -a-987676/

- If you receive 10 Petro-Points for every dollar you spend, then you need to spend $1100.00 on gas in order to earn 11 000 Petro-Points (10 * $1100.00) for a $10.00 Fuel Savings Reward Card
- $10.00 / $1100.00 = 0.91 %

Add up both percentages and you end with a total of around 2.58% (1.67% + 0.91%) in savings.
Your problem is, again, you should not be including the petro-points in the calculation at all. Why? Because if you are using the Smartcash, you can also still get those points (with a normal Petro card).

The whole points thing is a totally moot point. Basically, all you should be comparing is the 2 cents off / litre to MBNA 3%. As noted above, as gas gets more expensive, the Citi return goes down, as gas gets cheaper, the Citi return goes up. The Smartcash will beat out the Citi card all times gas is above 66 cents litre.

So basically, unless some crazy thing happens where gas drops below 66 cents again, stick with Smartcash.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
Member
Sep 27, 2004
330 posts
52 upvotes
Ottawa
Guys, you can definitely use MBNA Smart Cash AND petro points MC at the same time.

Here is what I do:

1. Buy $25 Petro Canada Gift card from Loblaws or Food Basic or Petro Canada gas station with MBNA smart cash MC to earn 3% cash back for the purchase.
2. Buy $30 gas roughly at Petro Canada and pay with the gift card and petro-points MC (Hand them together to Cashier and tell her/him to use gift card first and cover the difference with Petro-points MC)
3. All the amount of $30 purchase will have 2 cents off while $25 of them will have extra saving of $0.75.

Let's say the gas price is $1.00 per liter and you will make a purchase of $30, you will get:

$0.25 * 3% = $0.75
plus,
$0.02 * 30 = $0.60

Total saving of $1.30

You still earn same amount of Petro Points. Right now, there is a promotion to redeem 200 liter of 5 cents off with 12K points in store and 11K online refill. Use Fuel Saving cards if you have them.
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Dec 11, 2005
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JayJJJ wrote: 1. Buy $25 Petro Canada Gift card from Loblaws or Food Basic or Petro Canada gas station with MBNA smart cash MC to earn 3% cash back for the purchase.
2. Buy $30 gas roughly at Petro Canada and pay with the gift card and petro-points MC (Hand them together to Cashier and tell her/him to use gift card first and cover the difference with Petro-points MC)
3. All the amount of $30 purchase will have 2 cents off while $25 of them will have extra saving of $0.75.
.

This is very interesting, I did not know you could do that.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
Deal Addict
Dec 31, 2009
1568 posts
154 upvotes
JayJJJ wrote: Guys, you can definitely use MBNA Smart Cash AND petro points MC at the same time.

Here is what I do:

1. Buy $25 Petro Canada Gift card from Loblaws or Food Basic or Petro Canada gas station with MBNA smart cash MC to earn 3% cash back for the purchase.
2. Buy $30 gas roughly at Petro Canada and pay with the gift card and petro-points MC (Hand them together to Cashier and tell her/him to use gift card first and cover the difference with Petro-points MC)
3. All the amount of $30 purchase will have 2 cents off while $25 of them will have extra saving of $0.75.

Let's say the gas price is $1.00 per liter and you will make a purchase of $30, you will get:

$0.25 * 3% = $0.75
plus,
$0.02 * 30 = $0.60

Total saving of $1.30

You still earn same amount of Petro Points. Right now, there is a promotion to redeem 200 liter of 5 cents off with 12K points in store and 11K online refill. Use Fuel Saving cards if you have them.
That's an interesting take on things. As long as I'm not driving 20 minutes from grocery store to gas station, or hanging onto the gift card for days at a time that's something I would have probably done.

But it's moot now. I had an old Petro-Canada card back in the 80's. Not a MC, just a basic red'n'white Petro-Canada in-store-only card. OVer the years it morphed into a Citi MC that I rarely ever used. Especially since there is no Petro-Can near me. I think I have to drive to the other side of town to find one, it takes me 20 minutes to get there, and it's usually the most expensive gas station in town. So I called Citi and had them convert my Petro-Can MC to an Enrich Platinum, which I still don't use...so I don't know what the hell I was thinking.
Deal Expert
Aug 2, 2001
18944 posts
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I would just use the MBNA SmartCash. It's 3% off at any gas station, so you aren't stuck driving around looking for one in particular.

As well, as previously mentioned, you can use the SmartCash with the cashback from RCSS/No Frills (which it sounds like you shop at) for an even better reward.
Jr. Member
Apr 26, 2010
129 posts
10 upvotes
Burnaby
Does MBNA SmartCash card save you 3% for gasoline purchased from USA gas station?
Deal Expert
Aug 2, 2001
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canuck1 wrote: Does MBNA SmartCash card save you 3% for gasoline purchased from USA gas station?

Yes.

On my last trip to Vegas I filled up and received 3% cash back (I just checked my rewards statement) from a Circle K.


I'm sure there are certain exceptions because I think it's based off some sort of merchant code to indicate it's a gas purchase.
Member
Sep 27, 2004
330 posts
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Ottawa
Paulfistinyourface wrote: That's an interesting take on things. As long as I'm not driving 20 minutes from grocery store to gas station, or hanging onto the gift card for days at a time that's something I would have probably done.

A $25 dollar petro canada gift card is always included in my grocery list each Saturday. You can find it in Loblaws, Super C, Food basic, etc.
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Dec 11, 2005
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TrevorK wrote: I would just use the MBNA SmartCash. It's 3% off at any gas station, so you aren't stuck driving around looking for one in particular.
But by doing that posters trick, you are instantly boosting your return from 3% to around 5%, PLUS you get petro points, which actually puts you to more like 6% total.

It's pretty decent. It all hinges on the fact that the whole gas purchase does not have to be charged to the Citi CC in order to get the 2 cent discount. I totally never realized that.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
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Feb 26, 2008
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wow, learn something new today. I'm gonna start stocking up on petrocan giftcards
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Oct 3, 2006
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Toronto
brunes wrote: But by doing that posters trick, you are instantly boosting your return from 3% to around 5%, PLUS you get petro points, which actually puts you to more like 6% total.

It's pretty decent. It all hinges on the fact that the whole gas purchase does not have to be charged to the Citi CC in order to get the 2 cent discount. I totally never realized that.

The gift card trick?
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Dec 11, 2005
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Aznsilvrboy wrote: The gift card trick?

The trick is pay with GC but leave a couple bucks at the end and pay that with the CC.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings

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