Best Gas Reward Credit Card

 

 

Conventional wisdom promotes the idea the best gas reward credit cards are almost always tied to a particular oil or gas company. Truth to be told there is a bit of truth to this but that's only half the story. You can find a gas rebate credit card issued by one of the big gas companies that may give you a little higher reward percentage but the trade off is the fact that you're stuck buying your gas from that gas station.

How to choose the Best Gas Reward Credit Card? ....read more

Information is updated on a regular basis -
information current as of: Thu Jul 29, 2010 11:21 pm

What defines the Best Gas Reward Credit Card?

You'll get different opinions on this question based on what's most important to each individual, so I'd recommend answering a few questions before you choose your new gas rebate credit card.

  • Will you pay the balance off every month?
  • Will you use the credit card at only one gas station?
  • Will you make other purchases with your gas rebate credit card?
  • How much gas will you be buying every month.

Gas reward credit cards offer incentives ranging 1% to %5 cash back, (some cards offer higher percentages but those are normally intro rates), rates from 0% APR on purchases and balance transfers for 12 months with no annual fees.

Gas prices have continued to rise over the past few years and most experts predict this trend to continue. This means you have an opportunity save quite a bit of money every month when you use one of the best gas reward credit cards.

I'll use my purchases to illustrate how much you can save. My wife and I spend between $400 - $500 a month in gas, if credit card company A gives ma a 1% rebate/reward then I'll save between $4-$5 per month, but If I use a gas rebate credit card like the Discover® Open Road Gas Card that pays a 5% rebate then I'll save $20-$25 per month on the same purchases.

As you can see it pays to find the best gas rebate credit card. An additional benefit to using a gas rebate credit card issued one of the banks is that you can also earn rewards or rebates on other purchases as well. Recently, cash rebate credit cards have given these dedicated gas credit cards some stiff competition by offering as high as 5% rebates on so-called "everyday purchase" items. Some banks may give one instant rewards for signing up and using their gas credit cards.

Reasonable efforts are made to maintain accurate information. However, information is presented without warranty. When you click on the "apply online" link you will have an opportunity to review the credit card terms and conditions on the credit card issuer's web site.
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