Overview Escalating gas prices have burnt a hole in the average driver’s pocket. It is not feasible to do away with gasoline. However, one can opt for an economical alternative, like gas credit cards to avail rebates or gift certificates on gas purchases. Gas credit cards are appropriate for people who want to curb their fuel bills and prefer credit cards as a method of payment. All major credit card companies offer this specialty credit card.
How It Works The functioning of gas credit cards depend on the credit card company and the quantity of fuel purchased. For instance, several cards offer a specific percentage of discounts. Some cards give cash back rewards. There are others who follow the point system in which the consumer is rewarded points on every refuel.
Benefits Using gas credit cards is a practical way to counter rising gas prices. It is possible to save more money during the initial period because a relatively high rebate percentage is given during this time. There is no lag in the redemption of rebate. So cardholders can get instant cash rewards. In the case of brand specific cards, additional rebates can be obtained since the same gas station is visited often. Many gas cards also offer a 5% rebate on grocery store or drug store purchases and a 1% rebate on the purchase of merchandise or airline tickets. Gas credit cards can be used almost everywhere, when ready cash is not available. It is wise to keep abreast of the terms and conditions of your card because they are subject to change.
Cost/Pricing An annual fee of approximately $30 to $200 is to be paid, depending on the type of gas credit card used. There are some cards that do not charge an annual fee. Other associated costs could be charges incurred for purchasing over permissible limits.
Timing Getting a gas credit card is a complete personal decision, and varies from person to person. Things to take into account are the number of credit cards you already have and your financial situation.
Companies/Industries Gas rebate cards are issued by both gasoline companies and credit card companies. Generally, the ones issued by credit card companies offer more flexibility, because gas station credit cards require you to use the card at specific stores in order to realize the rebate. This is to establish brand loyalty, of course. Some of the gasoline companies who issue these cards are Shell, Citgo, Amoco and BP. These cards are also made available by major credit card companies like AmericanExpress.com, MasterCard, Visa and Discover.