What's In This Article?
For many years, gas reward credit cards have been a popular choice among consumers. While these have been overshadowed by other types of reward cards, to a certain degree, they still make sense for a large group of people.
What is a gas reward credit card?
A gas reward credit card is a regular Visa or Mastercard which offers points or credits every time you fill up your tank, and some cards offer points on other non-gas purchases.
These types of gas reward cards can be used anywhere a credit card is accepted, unlike a gas-only credit card, which is only accepted for purchases of gasoline.
As the name suggests, a gas reward card rewards you every time you fill up your tank.
When you earn a higher cash back rate at gas stations, you will not feel nearly as bad when you see your tank on empty.
The primary benefit of a gas reward credit card is the ability to reduce the high cost of driving. You can use your card every time you fill up, thus decreasing the overall annual cost of fuel.
For those who often drive, such as a long commute to work, the savings can easily reach hundreds or even thousands of dollars every year.
Questions You Should Ask About Gas Credit Cards
As you research gas reward credit cards, you will soon find that some are better than others. You can narrow your options and make a final decision by answering the following questions:
What is the annual fee associated with the offer?
What is the rewards rate? And what is the interest rate if you don’t pay in full each month?
Are there other bonuses for using the credit card?
These are essential questions to answer because the gas reward cards are not the same across the board.
For example, some gas reward credit cards have an annual fee, while others do not. Along with this, you should not expect the rewards rate to be the same for every credit card.
Some cards offer rewards for using other modes of transportation like rideshare ( Uber or Lyft), as well as public transport and airline travel.
Most people focus primarily on the rewards rate, as this is what you receive back for all qualifying gas purchases. While 1.5% is the average, you may be surprised to find a handful of offers that are a touch higher (or lower).
As you address these questions, use the internet to learn more about each gas credit card offer. You can read expert reviews, consumer reviews, and collect information from the credit card company itself.
All of this data will come into play as you attempt to make a final decision that will bring benefits to your financial life.
Who Should Get a Gas Reward Credit Card?
As long as you qualify, based on your credit score, you have the right to obtain a gas credit card. But that doesn’t mean it is the right choice for you, especially when you consider the many other types of offers that are out there.
These credit cards are best for those who often drive and find themselves at the gas station several times per week. Since you will receive cash back on all gas purchases, your opportunity for saving is much greater than somebody who only fills up a couple of times per month.
Tip: review your budget to calculate how much you spend on gasoline each month. From there, calculate the savings rate based on the credit card that piques your interest.
What About Other Purchases?
Although you may be most interested in the way you can save on gas purchases, you don’t have to stop there. Did you know that some gas credit cards also offer cash back on every other type of purchase?
If you receive one of these credit cards, you will be more inclined to use it often, even if you are not filling up your tank.
It is essential to pay close attention to all details of a gas credit card, not just the rewards rate – this is the best way to make an informed and confident decision.
Tips for Using a Gas Credit Card
It is one thing to apply for a gas credit card. It is another thing entirely to use this to your advantage. Here are some tips to follow:
Make sure you use your gas credit card on all qualifying purchases, as this will boost your cash back amount.
Don’t spend more than you can afford to pay each month. If you carry a balance from month to month, it could offset some or all of your gas savings.
Know when it makes sense to use it for other purchases. This comes into play if your credit card offers cash back for purchases outside out of gas stations, such as at restaurants and grocery stores.
For some consumers, a gas reward credit card is a dream come true. It allows them to earn cash back on every purchase they make at the pump.
If you are always filling up your tank, it may be time to apply for a gas reward credit card. It will ease the pain of filling up, ensuring that you receive cash back for every gallon of gas that you purchase.
Our Top Recommendations
Discover it® Cash Back
Discover makes cardholders earn 5% cash back on daily purchases at different stores every quarter like gas stations, groceries, restaurants, and the Amazon website. It also automatically matches all the cash back you’re earned at the end of your first year.
Citi Premier® Card
The Citi Premier® Card offers 3 points per dollar on transactions at gas stations, supermarkets, restaurants, hotels, and flights. Their stellar sign-up bonus and annual hotel benefits are also too attractive to miss.
Wells Fargo Propel American Express® card
Besides the no annual fee, the Wells Fargo Propel American Express® card allows you to earn 3x points on gas station purchases. On top of that, it also offers great bonuses and extra rewards in various spending types such as restaurants, travel, streaming, transits, and many more.
Other Types of Credit Cards
Interested in other types of credit cards? Check out these links for more information.
- Business Credit Cards
- Balance Transfer Credit Cards
- Points Rewards Credit Cards
- Gas Rewards Credit Cards
- Sports Rewards Credit Cards