Separate account for petrol or using credit card to pay

Legacy_user

As many of you here will know about the piggybanking method , having separate accounts for different purposes.. I just wanted to know your opinions/views on having a separate account for petrol OR using credit card for petrol? What do others here do for their petrol spends?


Lol came across another fellow piggybanker person today, who had a designated account for petrol! Never heard this before... do others here do this, or anyone here that puts petrol spends specifically on their credit cards? Or just uses their money (not necessarily from a designated account)?


Or would it be better having a 'car' account that is designated to everything car (repairs, etc) and using that to pay for petrol too? I have two credit cards so thinking of using one specifically for petrol costs....

agrinnall

Use a cashback credit card. I've never really got the idea of piggyback/pots but if that's what floats your boat then making a bit of extra money at the same time makes sense.

Tom99

I only use one cashback card and don't spend more that I have to, so no need for pots for this and that.

enthusiasticsaver

Santander 123 cashback credit card for fuel, supermarket and department store spends.

ValiantSon

I use the 123 credit card too, giving me 3% cashback on fuel. I do, however, do a lot of miles, so my fuel spending is higher than many. The card has a £3 per month fee, so it isn't necessarily a great option for all. It also isn't available to new customers anymore! It was replaced by the All In One Credit Card which only gives 0.5% cashback on any spending, but still charges £3 per month. That's a pretty terrible deal in my view; you can get 0.5% cashback cards that have no fee.

Like others, I don't really get the point of different accounts for different things. Use a credit card to get the best cashback that you can, but don't do this just for buying petrol, do it for all of your spending.

Zanderman

When I used to do a lot of miles, many of them for business, I used one credit card for fuel, largely to keep track of it for expenses claims.

I'd do the same now in the same situation - much more straightforward than setting up a separate bank account for it. Imho anyway.

Cashback cards are the obvious thing to go for - the MSE overview article is here: https://www.moneysavingexpert.com/credit-cards/cashback-credit-cards

My current card of choice is Tandem, no fees and 0.5% cashback, and though the App is a bit annoying it is very good at instant notifications!

eschaton

Sweetcake wrote: »

As many of you here will know about the piggybanking method , having separate accounts for different purposes.. I just wanted to know your opinions/views on having a separate account for petrol OR using credit card for petrol? What do others here do for their petrol spends?


Lol came across another fellow piggybanker person today, who had a designated account for petrol! Never heard this before... do others here do this, or anyone here that puts petrol spends specifically on their credit cards? Or just uses their money (not necessarily from a designated account)?


Or would it be better having a 'car' account that is designated to everything car (repairs, etc) and using that to pay for petrol too? I have two credit cards so thinking of using one specifically for petrol costs....

Why the need for separate accounts?