Gas Rewards Credit Cards
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Gas rewards credit cards offer up to 5% cash back on your everyday gasoline purchases and auto maintenance. As more people begin to feel the pinch of the 2008 financial downturn, these gas rewards credit cards will definitely save you some cash. Our best gas rewards credit card offers come with no annual fee, so you may try any of them risk-free. |
True Earnings® Card from Costco and American Express
- 0% Intro APR on Purchases for 3 months.
- No Annual Fee.
- Earn Cash Back – 3% for gasoline, for annual gasoline purchases of up to $3,000 (1% thereafter), 3% for restaurants, 2% for travel, 1% everywhere else, including Costco.
- The TrueEarnings Card serves as both your American Express Credit Card and your Costco Membership Card.
- The flexibility to pay charges over time.
- No Limit on the Cash Back earned.
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
|---|---|---|---|---|---|
| 0% | 3 Months | 13.24% | $0 | Yes | Excellent |
Discover® Open Road® Card
- 0% Intro APR on Purchases and Balance Transfers.
- No Annual Fee & $0 Fraud Liability Guarantee.
- 5% Cashback Bonus® on your first $100 in gas and auto maintenance purchases each month.
- Turn your Cashback Bonus into bigger rewards every time you redeem for gift cards from over 100 Brand-name Partners.
- Up to 1% Cashback Bonus on all other purchases automatically.
- Unlimited cash rewards that never expire.
| Intro APR | Intro APR Period | Regular APR | Annual Fee | Balance Transfers | Credit Needed |
|---|---|---|---|---|---|
| 0% | 6 Months | 11.99% – 18.99% | None | Yes | Excellent |
How to Earn Gas Rewards Every Time you Pump
There is one, unavoidable expense that many of face each month: gasoline!
We all need it to get back and forth to work, to run errands, to pick up our kids from school, and to simply head out and enjoy life. However, the prices at the gas pump have left us feeling more than a bit irritated with empty wallets.
This is why credit cards offering gas rewards are so practical; we have to purchase gas, so why not start earning gas rewards for doing so?
Gas rewards credit cards are a practical solution, particularly for those consumers who fill up often. With gas hovering near record highs, filling up is easier if we know we are earning gas rewards in the process.
How Do Gas Rewards Work?
Earning gas rewards is easy, as you simply use your gas rewards credit card when filling up at the pump. The gasoline purchase is then calculated by the creditor so that you can receive your gas rewards for that particular purchase. Gas rewards credit cards work slightly different from other credit cards rewards programs, as the creditors often reward the cardholders’ accounts each month, instead of waiting for one year. It is often easy to track your gas rewards, with the credit clearly shown on each monthly statement.
Gas rewards work by offering consumers a rebate percentage on the gasoline they purchase. Most credit card companies that offer gas rewards offer a rebate of 1 to 3 percent, although there are some companies that offer slightly higher rebates.
It is not uncommon for a gas rewards creditor to offer a higher rebate as an introductory period, which is typically short-lived. It is, therefore, important to not only choose a creditor that offers gas rewards because of the higher rebate introductory period, but to also pay close attention to the standard rebate amount once the intro period has ended.
Who Offers Gas Rewards?
It is likely that you will see gas rewards credit cards offered through gas companies. However, it is important to note that if you choose a brand-specific gas rewards credit card, you will only earn your gas rewards for that particular brand of gas. This is a practical scenario if you always frequent a certain gas company; otherwise it can make it difficult to earn gas rewards rebates. After all, it doesn’t make much sense to spend your time driving around and searching for your brand of gasoline simply to earn the rebate rewards!
With that said, there are many creditors who offer gas rewards, regardless of the gas station at which you purchase gas. It is not uncommon, for example, for a rewards credit card to offer a certain rebate percentage for gasoline purchases, as well as another rebate percentage for other types of purchases.
It is important to understand, however, that different types of credit cards will reward customers with rebates in form of a rebate check, a credit on their statement, or as a gift.
There are many “hybrid” credit cards that offer gas rewards and other types of spending rewards. It always pays to take your time and locate the credit card that offers the best gas rewards for your particular situation.
Gas Rewards Restrictions
Just like any other type of rewards credit card, your credit card that offers gas rewards will likely have a set of restrictions, which you will want to carefully read and understand before applying for the credit card.
Some of the common restrictions found on gas rewards credit cards include pay-at-the-pump transaction restrictions, which limit your gas rewards to only pump transactions – not those transactions which are made inside the store.
Another common restriction includes the total rebate amount to which you are entitled. Many credit card companies that offer
gas rewards rebates limit the total rebate dollar amount during a set time period.
You may also encounter a gas rewards credit card with an annual fee, but it is also quite easy to locate one that does not have any annual fees.
You may also be surprised at the higher interest rates charged by many gas rewards creditors, although standard credit cards with gas rewards programs are far more likely to offer competitive interest rates than brand-specific companies.
