Finding The Best Gas Rebate Credit Cards
Gas prices seem always to be going up, and let’s face it. If you drive, you have to pay the asking price. Because there are federal minimums set as to how low gas merchants can go in their pricing, it’s more than likely that the gas in your area is the same price or very close, no matter what station you go to. Although you can probably go across town to buy gas that’s a few cents cheaper than the station or stations near you, you know it’s not worth the extra mileage (and gas) to do so.
So it’s fortunate that some leading credit card companies are now offering some relief for this problem. They have gone into partnership with gas companies to try to create a solution for consumers. Many now offer gas rebate credit cards; a few are the best gas rebate credit cards.
How Does It Work?
The best gas rebate credit cards have it set up so that cardholders get credited a certain percentage of the gas purchases they charge to their credit card. This is similar to most cash back rebate programs. However, most cash back rebate programs send out rebate checks once per year. By contrast, the best gas rebate credit cards give you credit each month, so that you can use your credit immediately.
Best Gas Rebate Credit Cards That Are Station-Specific
Most of the best gas rebate credit cards are affiliated with particular stations. If you are a frequent customer of a particular gas station, this might be the way to go and the best deal for your gas rebate card. By doing this, you can earn rebates of 3 to 5%, depending on the station. Oftentimes, these rebate rates only apply to gas purchases and not other sundry purchases you might make at a gas station, such as milk or bread, for example. However, some stations give you the same rates regardless of type of purchase.
Other purchases from places of business such as drugstores, supermarkets or restaurants, as well as other retailers, may earn you rebates of approximately 1%.
One of the best gas rebate credit cards that is also station-specific is the Chase BP Visa Rewards Card. This card has one of the best rates available, in that it pays 5% back on purchases made at Amoco BP stations. Travel and dining purchases also earn 2%.
Various “Generic” Best Gas Rebate Credit Cards
If you don’t frequent a particular “brand” of gas station all the time, such as Amoco, then the best card for you may be one that allows you to earn rebates at any station, anytime.
Many financial institutions now offer this type of rebate card. One of the best of these is the Chase PerfectCard Mastercard, which offers a 3% cash rebate on gas purchases. Perhaps an even better choice is the Discover Gas Card, which pays 5% rebates for the first $1,200 in gas purchases each year. Customers receive rebates back in the form of a check or gift card in $20 increments.
Using Cash Back Credit Cards as Gas Rebate Credit Cards
Most cash back credit cards are also the best gas rebate credit cards. Why? Because most cash back credit cards offer rebates of between 2% to 5% on all purchases made from drugstores, supermarkets and gas stations. Therefore, you don’t need a separate gas station-specific credit card to cash in on your purchases. You will also be able to qualify for cash back on more of your purchases, and therefore receive rebates much more quickly. For example, American Express‘ Blue Cash pays rebates of up to 5%, but you have to spend $6,500 per year first, before you receive your first rebate check. The Citi Dividend Platinum Select Card offers 2% rebates on gas purchases.
Some of the best gas rebate credit cards don’t charge you an annual fee, but interest rates on balances you carry are generally higher. Each of the gas rebate cards has its own restrictions. As an example, Blue Cash and the Discover Gas Card pay 5% in rebates, but you still must meet certain conditions in order to qualify.
When you shop around for the best gas rebate credit card, make sure you compare each carefully and do plenty of research. There are many options available on the market today, and it’s likely that one will fit you better than the other, depending on how you use it. There’s no need to settle for something less than the best gas rebate credit card for you.
To learn more about the gas rebate credit cards and where to find The Best Gas Credit Card Review check out www.CreditCardMonitor.Org, leading provider of credit card information and reviews for consumers today.
