Types of Credit Cards for Gas
Generally gas credit cards fall into two categories: gas rewards cards and gas station rebate cards.
- Gas reward cards – These cards allow you to earn reward points as you spend money at gas stations using gas credit cards. You can redeem these reward points in the form of cash back or other rewards such as discounts on travel or merchandise. Gas reward cards typically offer most of the reward points for gas refill. However, you can get some bonus points for spending on grocery, travel, or other day-to-day spending too.
- Gas station rebate cards – These credit cards offer rebates instead of rewards. They offer rebates based on how much gas you purchase from a specific brand. Gas rewards cards are more popular and typically more lucrative than gas station rebate cards. However, cardholders of both types need to pay their balance every month in order to receive any value from them. Other wise they risk getting penalized and may end up with a bad credit score.
Best Gas Credit Cards
If you’re looking to cut down your road travel cost a gas credit card can provide good savings. We examined hundreds of credit cards to offer you some the best gas credit cards. We are sure that these cards will help you earn more cash back or rewards on your next trip to the pump. Here are some of the best credit cards for gas that you can consider:
- AAA Member Rewards Credit Card
- Wells Fargo Propel 365 American Express® Card
- BP Visa® Credit Card
- Hess Visa Platinum Credit Card
- ExxonMobil Preferred Smart Card
How to choose the best gas credit card for you?
The best gas rewards credit card give you higher cash back and better rewards when you fill up your tank. Here are a few factors that you must consider to earn the most gas rewards:
Picking Your Gas Rebate Rate
- Gas and purchase cards include different rebate rates – 10%, 5%, and 3%, and each has its own considerations.
- Next, these rates are split into periods for signing promotions and ongoing rates.
- Lastly, there’s the higher rewards rate for gas vs. non-gas spending.
Consider Other Supplemental Category Bonuses
Make sure to consider reward rate you earn on non-gas spending because using your gas card for non-gas spending may lower your overall rewards. The next thing you need to consider is that gas station credit cards don’t offer reward points for spending on competing companies’ pumps.
To get the best rewards for your gas spending, consider having a gas-specific credit card with a high reward rate for gas, and using your favorite all-around rewards card for other spending. Make sure to pay off complete balance every month to earn more and more reward points and to avoid higher interest rates.