Gas rebate cards offer you discounts whenever you purchase gasoline. There are some that are limited to a specific fuel company while there are others that allow you to earn rebates no matter what company you choose. These cards are extremely helpful especially now that the gas prices remain costly. If you are wondering whether a gas rebate card is for you, the answer could be yes.
Set Realistic Expectations
In a number of ways, a gas rebates credit card is better than a standard credit card. It does not have many rewards options, though. However, if you are a frequent traveler, especially one who drives a lot, this is a great credit card to get. Gas prices continue to rise and fall but they are not expected to become affordable in the coming months. With your card, you can save on a few bucks for your next gas purchase.
If your card is issued by a certain gas company, you will only earn rebates if you purchase gas from them. If you just buy gas at the nearest station that you come across with, use a credit card company-issued gas card. This offers more flexibility since there is no restriction on the gasoline establishment you purchase from.
You need to understand that gas rebate cards will not give you huge rewards or cash back. You may, however, save a dollar or two whenever you make a purchase.
Choosing the Best Gas Card
If you carry a balance, a gas rebate credit card like the Blue Cash Everyday Cash from American Express, may not be ideal for you. This is because most of the gas cards today come with hefty interest rates. Therefore, the best deal in gas rebate cards can be found in those that have low interest like the PenFed VISA Platinum Gas/Cash Rewards Card (Membership Required to their Credit Union). You can also find credit cards that have better rebates for the first few months of account opening. Later on, the rewards will be reduced so make sure that you don’t just look at the introductory rebates.
There are also credit cards that will overshadow the interest rates through their rewards program. So if you think that you will not be able to pay for your monthly repayments, you should consider the perks that you can earn. Although rare, it is not impossible to locate a gas card that also offers miles, hotel accommodation, and even shopping points.
Some Things to Watch Out For
Credit cards for gas purchases are not created equally. There are a number of them that have many limitations. These include having:
- Rebate limits – This often happens when you charge a lot on your credit card. You will not be allowed to earn more rebates each year.
- Rebate expiration – Aside from the number of rebates that you can earn, there may also be some restrictions on the rebate collection period. If you do not redeem your points, they will revert back to zero.
It always pays to be a sharp and selective consumer. Take note of your options and choose the best credit card for your gas purchases. If you have bad credit rating, you can also use a gas rebate card to rebuild your credit.
Here are some of the best gas rebate cards you can choose from: