Don't let gas price hikes bring you down. Rack up rewards and cash back while you fuel up. You can receive a rebate for spending on gas if you use a gas rewards credit card. There are a good number of them that now offer up to 5% cash back when you fill up at the gas pump. While there are many specialty gas credit cards that offer exclusive rewards only for purchases at gas stations, what we list below are those credit cards that help you earn rebates as part of a larger rewards program. Enjoy rewards for spending on fuel and on purchases you make in various other spending categories with the selected cards in our list.
|Intro APR||Intro Period||Regular APR|
|0%||6 Months on Purchases||15.24% variable|
|Annual Fee||Balance Transfers||Credit Needed|
|No Annual Fee with your paid Costco Membership||Yes||Excellent|
Rewards credit card programs abound. You’ve probably heard of the ones that offer to give you one or two air miles for every dollar you spend, or that grant you points toward free hotel stays, but if jet setting isn’t your thing, getting one of these cards doesn’t make much sense. Most people won’t argue with getting a cash back reward, but the cash reward only comes once a month. So, are there any other options for getting rewards for using your credit card wisely? Absolutely. How about getting cash back every time you fill up your gas tank when you use a gas credit card?
Cards that reward their users every time they fill up have become extremely popular, especially since Hurricane Rita pushed pump prices up over $5 per gallon in some places. These cards work just like any other rewards credit card program in that they allow cardholders to build rewards each and every time they use their card. These points can then be redeemed through the card's rewards program; alternatively, cash back can be earned and received as a statement credit. Savings at the pump is also offered by certain other cards.
Gas rebate cards come in two flavors -- those offered by well-known, big credit card issuers like Citibank, Chase, American Express or Discover, and those offered by gas companies like Hess, Marathon, Exxon, Shell and so forth. The first type of card is usually a general cash back or rewards card that allows you to earn more rewards per dollar spent on special categories including gasoline. The second type of card is a specialty brand card that may give you a break in price when you patronize a particular brand. For example, you may be offered 5 cents off per gallon when you use such a card. If you are a loyal customer to a particular brand of gas, then specialty brand gas cards may be a good choice, but if you purchase your fuel from any station, it may be wiser to use a general rewards card in order to get a better deal.
Most gas rewards cards, like most other rewards cards on the market today, require the applicant to have good to excellent credit, though a few credit card companies will open accounts for individuals with fair credit under certain circumstances. Most credit card companies will take a look at the following:
Missing any of the above criteria may not necessarily prevent you from getting a gas card, but it will hamper your efforts. If you have credit blemishes, it will probably benefit you to locate a credit card issuer that works with individuals with less than perfect credit.