Find the Best Gas Reward Credit Card
Gas station rewards program credit cards are becoming more popular as gas prices increase and consumers become more concerned about the cost of fuel. Some cards offer a high reward percentage as an introductory offer but it may drop significantly after the initial period. Many cards are only valid for use with one gas station company. It is important that the cardholder understands exactly which spending activities will generate rebates and how much those rebates will be.
When comparing gas credit cards, consider:
- Initial cash back bonus, and bonus after introductory period (typically 5%).
- Other savings, such as 5% cash back at grocery stores, drug stores and gas stations, and 1% on purchases elsewhere.
- Points programs, with points per $1 spent to redeem on travel, merchandise, cash back, entertainment, or gift cards.
Unless cardholders only want to use one brand of gas, it is worth getting a card which offers gas station rewards regardless of which company gas purchases are made with. Cardholders should check whether there is a limit to the amount of rebates per year and also make sure they don't incur extra charges which would outstrip the value of any cash back received. Those who choose a credit card based on its gas station rewards program should always aim to pay their balance in full each month.
