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Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

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Fill Up for Less with a Gas Rewards Credit Card

[July 22nd, 2014]

If you find yourself behind the wheel a lot, there’s another place you are likely to be found frequently: at the gas pump.

Whether you clock hours in the car commuting to work, carting kids to soccer practice and sleepovers, or driving around for your business, you want to find ways to save on fuel. And one of the best ways is by using a gas rewards credit card. The question is, which one is right for you?

There are many different types of credit cards that give money back on gas. Here are a few different options to consider when looking at a gas credit card:

  • Co-branded gas cards – These cards are issued in partnership with certain brands of gas, for example, Shell or Exxon. The savings they offer is only good at those gas stations. Sometimes they offer higher percentages of cash back than other types of cards – anywhere from 2% to 5% back. Many of them give you greater percentages of cash back according to how much you buy. The more you buy, the more you save. If you always fill up at the same place, this type of card might be a good one for you. However, there are other options that give you a wider range of options, and can even deliver more rewards.
  • Cash back gas cards – Lots of credit cards offer 1% cash back on all purchases, and a higher amount like 3% or 5%, in certain categories. Look for one that gives money back on gas all year long, like the American Express Blue Cash Preferred. That one gives 3% back on gas, plus 6% back on groceries. These cards will save you money no matter where you fill up, so you don’t need to worry about pulling into a certain brand of station. You can go where the gas is cheapest and get even more savings when you get cash back.
  • Rotating category gas back cards – Credit cards that give 5% back in categories that change each quarter almost always have one time of year when they give 5% back on gas. Typically, this is in the summer, when more people take road trips. If you use your car more during the summer, then a rotating category card might be the best choice for you. That way you can spread your savings into other categories the rest of the year. Note, though, that most 5% cash back offers are capped at $1500 in spending, which translates to $75 maximum cash back each quarter.

No matter which type of gas savings credit card you go with, be sure that you’ve contacted customer service to activate any necessary programs and earn your cash back or other rewards. It’s a good idea to go over the terms and conditions before applying, and again after getting the card, to make sure you know how to maximize your cash back on gas. Just remember, there is a perfect gas credit card for every driver on the road.

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