| Best Gas Credit Card |
| By Credit Federal |
Published
09/5/2008
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Unsecured Credit Card
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Best Gas Credit Card Rewards
Of all the unsecured credit cards rewards available, the one type gaining favoritism is the gas credit card as fuel prices drain consumer wallets.
Typically, gas credit cards award points that can be exchanged for a gift card or cashback disounts on purchases.
Just as there are varying types and designs of credit cards, so can you find a wide variety of gas credit cards. The details will be revealed in the fine print. In addition to the interest rate and rewards, you also need to know how to redeem rewards, the max amount of rewards you can earn, and what could cause you to lose your hard-earned rewards.
Did you know... There are other credit cards that offer rewards for gas purchases, although they are not categorized as a 'gas credit card'. Also, there are credit cards that offer rewards for 'general purchases', which includes gas. Hence, just because a credit card is labeled as a 'gas credit card', doesn't necessarily mean it will offer the best rewards for gas purchases.
In fact, you may already own a credit card that offers cashback for general purchases including gasoline, and it's relatively easy to find at least one gas station in your area that participates in a general credit card rewards program.
For people who don't like having multiple credit cards, the best bet overall would likely be a general rewards credit card, it is offers as many rewards for fuel purchases as a gas credit card.
Typically, the advantage of gas credit cards is that you can lock in a savings rate, whereas the issuer of a general rewards card can change the terms for fuel purchases, or enforce other limitations.
For people who spend a lot of money on gas, a gas credit card will likely offer the best value. A major benefit of gas cards is that the rebates are usually automatically credited or a gift card is automatically sent.
Tips:
- Never carry a balance, because the interest you'll pay will likely override any savings rewards you earn.
- Get a standard rewards card that offers high rewards for general purchases, so you can have max rewards on other purchases such as food.
- Get a gas card that offers the highest rewards for gas purchases. To get the best gas credit card:
- compare the rewards offered; including for gas as well as for non-gas purchases
- compare the introductory rewards as well as long term rewards
- compare how rewards are redeemed
- compare any rewards limitations
- make sure savings rates aren't "up to" a certain level, which would mean your savings would be at a lower rate until you spend a certain amount of money
Did you know... Universal gas cards allow you to earn rewards at any gas station, but these types of cards often cap rewards. But, if you routinely buy from the same gas retailer, a branded card may offer higher rewards.
Browse for the best gas credit card or other rewards credit card.
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