As we know, using a gas credit card is a smart way to put some rewards back in your pocket for expenditures you have to make, whether you are commuting to work or taking a summer road trip. These cards are intended with high rewards rates. You may get up to 5% of your gas expenditures back, in addition to benefits such as welcome bonuses, grocery rewards, and low introductory APRs. The alternatives below suit a wide range of requirements. Therefore, there is certain to be one that’s right for you.
What Exactly Is a Gas Credit Card?
Genuinely, a gas credit card is a form of the credit card provided by a gas station instead of a prepaid card. With a gas credit card, you may pay for gas at the pump while receiving savings and privileges from the card issuer. For example, the ExxonMobil Smart Card entitles you to 6 cents off each gallon of SynergyTM gasoline purchased at Exxon and Mobil stations, as well as two Plenti points for each gallon of Synergy fuel purchased using the card. Significantly, a gas credit card may be obtained at a petrol station or online. You may be able to select a billing date that works for you with some cards.
The Working Principles of Gas Credit Card
A gas credit card can help you manage your gas spending and save money at the pump. Despite their limited utility, gas credit cards might be useful for people who cannot obtain a standard credit card. This is because gas credit cards may be easier to obtain than rewards credit cards.
A gas credit card may be an excellent alternative for people with fair credit who want to restore or develop their credit. Significantly, it is not as simple to overspend on a gas card since it is not accepted outside the gas station.
In addition, although gas credit cards are easy to obtain, they sometimes come with hefty interest rates. The ExxonMobil Smart Card, for example, has a buy annual percentage rate (APR) of 25.74%. This is about 10% more than the national credit card interest rate (May 10, 2017).
Citi Custom Cash℠ Card: Best Gas Credit Card Overall
Why We Selected It
The Citi Custom Cash℠ Card enables cardholders to receive 5% cash back on their highest qualified spending category, up to $500 in purchases every billing cycle, then 1% cash back on all other purchases. Gas stations qualify as a valid category. This 5% is automatically applied based on your expenditure during the billing period, so use this Card mostly for petrol purchases. For most commuters, this Card offers the most cashback rewards on petrol savings. Other qualifying areas of spending include restaurants, grocery shops, travel, select transit, streaming services, pharmacies, home improvement stores, health clubs, and live entertainment.
Intro Offer: Receive $200 cash back after spending $1,500 in the first six months after user registration. This bonus offer will be delivered as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
APR: 16.99% – 26.99% Variable
Rewards Rate: Receive 5% cash back on purchases in your top qualified spend category per billing cycle, up to $500, then 1% cash back.
Recommended Credit Score: Excellent, Good
Annual Fee: $0
- Citi will issue just one Citi Custom Cash℠ Card account per user.
- If you spend $1,500 on purchases within the first six months after the account opening, you will earn $200 cash back. This bonus offer will be delivered as 20,000 ThankYou® Points, redeemable for $200 cash back.
- There is no yearly fee.
- There are no rotating bonus categories to sign up for. Your earnings fluctuate automatically as your spending changes each billing cycle when you spend in any of the qualifying areas.
- You can receive 5% cash back on purchases in your top qualified spend category per billing cycle, up to $500 spent, then 1% cash back. Additionally, you can receive an additional 1% cash back on all other purchases.
- For the first 15 months, there is a 0% intro APR on balance transfers and purchases. The variable APR will range from 16.99% to 26.99%, depending on your creditworthiness.
Blue Cash Preferred® Card from American Express: Best Gas and Transit Card
Why We Selected It
The Blue Cash Preferred Card from American Express provides a high cashback rate of 3% at U.S. gas stations. However, if you do not drive or frequently utilize public transportation or ride-sharing, you will also receive 3% cash back on such transactions, parking, tolls, buses, trains, and more. In addition to these amazing transportation benefits, you may get 6% cash back at U.S. supermarkets on up to $6,000 in annual expenditure, followed by 1% and 1% cash back on all other purchases. Reward Dollars, which may be redeemed for a statement credit, represent the cashback incentive.
Intro Offer: Spend $3,000 on purchases with your new Card during the first six months, and you will receive a $250 statement credit.
APR: 16.99%-27.99% Variable
Rewards Rate:
- 6% Cash Back at U.S. supermarkets on purchases up to $6,000 per year (then 1% Cash Back)
- 6% Cash Back on Selected U.S. Streaming Services
- 3% Cash Back on taxis/rideshare, parking, tolls, trains, buses, and more
- 3% Cash Back at U.S. gas stations
- 1% Cash Back on other purchases
Recommended Credit Score: Excellent, Good
Annual Fee: $0 introductory yearly cost for the first year, followed by $95
- There is a $0 introductory yearly cost for the first year, followed by $95.
- If you spend $3,000 on purchases with your new Card during the first six months, you will receive a $250 statement credit.
- There is a Buy Now, Pay Later Plan. It allows you to divide large purchases into monthly payments with no initial plan costs. You can pay no introductory costs for plans made within the first year after account creation. Significantly, plans formed after that date will incur a monthly charge of up to 1.33 percent of each qualifying purchase amount placed into the plan.
- 6% Cash Back on purchases at U.S. supermarkets up to $6,000 per year (then 1%).
- There is a low introductory APR: of 0% for the first 12 months on purchases from account opening, then a variable rate between 16.99% and 27.99%.
- There is 3% cash back at gas stations and on transportation, including taxis/rideshare, parking, tolls, trains, buses, and more in the United States.
- There is 6% cash back on various streaming subscriptions in the United States.
- There is 1% cash back on other purchases.
- Reward Dollars are earned as cashback and may be redeemed for a statement credit.
Pros
- 3% cashback on U.S. gas station purchases year-round
- The American Express Blue Cash Preferred® Card can earn additional costs for large families.
- 6% cashback on some U.S. streaming subscriptions and up to $6,000 in supermarket shopping (then 1%)
- 3% transit cashback, including taxis, rideshares, parking, tolls, trains, and buses
- 1% cashback on all other purchases
- Terms apply
Cons
- After the first year, the annual charge is $95.
Citi Premier® Card: Gas Card with a Good Welcome Bonus
Why We Selected It
If you spend a lot of money at gas stations (and supermarkets, restaurants, hotels, or air travel), the Citi Premier Card is an excellent choice. When you spend money in certain areas, instead of earning one point for every dollar, you will get three. You may also collect points at petrol stations all around the world. Moreover, you may get a 3 percent rebate on your gas expenditures by redeeming these points for a 1 cent bill credit. You may earn triple points on every purchase, and there is no limit to how much you can spend. The $95 annual fee is the Card’s sole real drawback. Therefore, your benefits must be substantial enough to justify keeping the Card.
Intro Offer: Spend $4,000 during the first three months of opening your account and receive 80,000 bonus ThankYou® Points
APR: 18.99% – 26.99% Variable
Rewards Rate:
- Get 3 points for every dollar spent at supermarkets and eating establishments
- Get 3 points for every dollar you spend on gas, airfare, or lodgings.
- In all other cases, you will get 1 point for every $1 spent.
Recommended Credit Score: Excellent, Good
Annual Fee: $95
- You will receive 80,000 extra ThankYou® Points after spending $4,000 in purchases during the first three months of account opening for a limited period.
- There are no Foreign Transaction Fees on purchases.
- This Card has no expiration date and no restriction on the number of points you may earn.
- When 80,000 points are redeemed at thankyou.com, they are worth $800 in gift cards.
- There is an annual hotel savings benefit.
- You will get 1 point for every dollar spent on any other purchases.
- You will get 3 points for every $1 spent at gas stations, airlines, and hotels.
- You will earn 3 points for every dollar spent at restaurants and supermarkets.
Discover it® Student Chrome: Gas Card for Students
Why We Selected It
The Discover it® Student chrome* is the Card intended to make credit more accessible to students and to assist them in building credit. However, it also offers unexpectedly significant rewards. On gas station and restaurant purchases, you will receive 2% (up to $1,000 in total purchases every quarter, then 1%). As is customary with Discover cards, you will also receive 1% cash back on all other transactions and an Unlimited cashback Match after your first year. Since it is a student card, it does not have some of the additional benefits you may expect.
Intro Offer: Only Discover offers unlimited cashback matches. Discover will match your first-year cashback. Thus, $50 cash might become $100 or double $100. There is no minimum expenditure or maximum incentives. It is just dollar-for-dollar.
APR: 15.99% – 24.99% Variable
Rewards Rate:
- Each quarter, get 2% cash back at gas stations and restaurants on up to $1,000 in total purchases
- Automatically get 1% cash back on all other purchases.
Recommended Credit Score: Fair
Annual Fee: $0
- Purchases have a 0% starter APR for six months, after which the usual variable purchase APR of 15.99% – 24.99% applies.
- There is no yearly charge, and careful use will help you develop your credit.
- Discover assists you in removing your personal information from some people-search websites.
- There is no credit check to apply.
- Each quarter, you can get 2% cash back at gas stations and restaurants on up to $1,000 in total purchases. Plus, you will automatically get an unlimited 1% cash back on all other purchases.
- At the end of your first year, Discover will automatically match all cashback you have earned. Thus, you could convert $50 into $100. Alternatively, you may transform $100 into $200. There are no minimum or maximum expenditure requirements. It is only a dollar-for-dollar match.
Ink Business Cash® Credit Card: Best Business Card for Gas
Intro Offer: Get $750 in bonus cash after spending $7,500 on purchases during the first three months of account opening
APR: 15.49% – 21.49% Variable
Rewards Rate:
- Each account anniversary year, get 5% cash back on the first $25,000 spent at office supply retailers and on internet, cable, and phone services.
- Each account anniversary year, earn 2% cash back on the first $25,000 spent at gas stations and restaurants combined
- Get unlimited 1% cash back on all other card purchases with no maximum cashback amount
Recommended Credit Score: Good, Excellent
Annual Fee: $0
- Purchases have a 12-month 0% introductory APR.
- Through Chase Ultimate Rewards®, you can redeem your points for Cash back, gift cards, vacation, and other items.
- There is no annual fee.
- With Zero Liability, you will not be liable for fraudulent charges using your card or account details.
- You can use real-time fraud monitoring. Your card transactions will be watched for probable indications of fraudulent activity with Fraud Protection.
- Each account anniversary year, earn 2% cash back on the first $25,000 spent at gas stations and restaurants combined. You will get 1 percent cash back on all other purchases.
- Each account anniversary year, you will get 5% cash back on the first $25,000 spent at office supply retailers and on internet, cable, and phone services.
- If you spend $7,500 on purchases during the first three months after account opening, receive $750 in bonus cash back.
Conclusion
In conclusion, gas credit cards can help you save money on gas by offering discounts, cashback, or other perks. Significantly, branded gas station credit cards often have no annual fee. However, they only give savings at that company’s gas stations. Thus, they may appeal to consumers who want to refill with a certain gas brand. General rewards cards provide cashback or other incentives that may be earned and used more flexibly, making them the ideal gas credit card for many people.