Earn up to a 5% rebate on the best gas credit cards. Yes you read that right, a whole five percent!
This day in age where gas prices are soaring, who wouldn’t want to get the most money back they possibly can on their fuel purchases? Doing a little bit of investigating on the internet will show you that there are many gasoline credit card options, but not all of them offer the same amount of rebates. Some offer percentages back and some offer a specific number of cents back per gallon purchased, while some don’t offer any reward at all.
For example, the Valero credit card gives you back a whopping $0.30 rebate per gallon while the BP credit card offers a 5% rebate. Would you consider one of these the best gas reward credit card? Do you even have one of these gas stations in your area?
The Valero card would not be an option for me because the closest Valero station is halfway across the state I live in. I have at least one BP gas station within a few miles of my home, but I don’t consider their card the best gas credit card because I’m a loyal fan of QuickTrip gasoline and have been for 15 years.
So what about the QuickTrip credit card? Even though I’m a loyal fan of their gasoline, to be frank, their credit card does not even compare to the other two gas station cards. They only offer you a stingy rebate for the first 5 months you have their credit card and after that they don’t give you anything at all! So much for customer loyalty.
- Fuel Credit Card Pointers
- Gas Credit Card Offers
- Wells Fargo Propel American Express® card
- Blue Cash Preferred® Card from American Express
- Bank of America® Cash Rewards credit card
- Chase Freedom Flex℠
- PenFed Platinum Rewards Visa Signature® Card
- Is a gas credit card worth it?
- Do gas credit cards help you build credit?
Fuel Credit Card Pointers
- When searching for the best gas rebate credit card it’s a good idea to consider a credit card that allows you to purchase gasoline at more than one station. For example, the Chevron credit card allows a customer to fill up at not only Chevron, but also Texaco. It’s great to have that extra option, especially if you travel often, and who doesn’t love road trips!
- Always determine how your rebates are redeemed prior to getting a credit card for gas. Each card has its own special way of redemption. Some cards give you the cash back, like a cash rewards credit card, while some give you a credit on your monthly bill. Some even give you points that you can redeem for merchandise. My opinion is to stay away from those credit cards, what a waste, we all know cash is king.
- Although most gas reward credit cards don’t charge an annual fee, always check the fine print of the credit card application to be sure. There’s not much point of paying an annual fee when you are trying to save money.
- Make sure the fuel credit card you are interested in does not have a limit to the amount of rewards you can earn each year. This can be frustrating if you spend $5000 on gas only to get $200 in rewards when you should have been entitled to $250.00.
- If the gas station credit card you are interested in has higher prices at the pump than most other stations, is it really worth it in the long run to get the rewards from that companies credit card program?
Gas Credit Card Offers
Imagine applying for a gas credit card and getting a special reward for the first couple of months. A card like the Hess credit card gives you just that, 10% back the first few months. That’s not the only company that offers such a deal, there are many gas cards to choose from.
Start your journey into the gas credit card market to find your favorite card today.
Wells Fargo Propel American Express® card
This card offers 3 points per dollar in a slew of popular categories, including gas stations, restaurants, travel and popular streaming services. All other spending earns 1 point per dollar. Points are worth a penny apiece and are redeemable for cash, travel and more. There’s a rich welcome offer for new cardholders, and you even get a 0% introductory APR period, all with an annual fee of $0.
- Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months – that’s a $200 cash redemption value
- $0 annual fee and no foreign currency conversion fee
- Earn 3X points on eating out and ordering in
- Earn 3X points on popular streaming services
- Earn 3X points on gas stations, rideshares and transit
- Earn 3X points on travel including flights, hotels, homestays and car rentals
- Earn 1X points on other purchases
- Select “Apply Now” to learn more about the product features, terms and conditions
Blue Cash Preferred® Card from American Express
Earning 3% back on U.S. gas station purchases year-round is excellent when there are other lucrative bonus categories, too. Large households especially will appreciate what the Blue Cash Preferred® Card from American Express can earn on other expenses: 6% cash back at U.S. supermarkets, on up to $6,000 a year in spending (then 1%); 6% cash back on select U.S. streaming subscriptions; 3% cash back on transit (including such things as taxis, rideshares, parking, tolls, trains and buses); and 1% cash back on all other purchases.
- Earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%.
- Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
- $95 Annual Fee.
Bank of America® Cash Rewards credit card
You earn 3% cash back on your chosen spending category, which can be gas, and 2% at grocery stores and wholesale clubs for the first $2,500 in combined spending each quarter. Earn 1% cash back on other purchases. (Other 3% choices: online shopping, dining, travel, drugstores or home improvement and furniture stores. You can update your choice category once each calendar month.) If you’re a Preferred Rewards member, you can get bonuses of 25% to 75% of the rewards you earn.
- No annual fee
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
- Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
- 0% Introductory APR for 12 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99% – 23.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
- No expiration on rewards
- If you’re a Preferred Rewards member, you can earn 25% – 75% more cash back on every purchase
- Contactless Cards – The security of a chip card, with the convenience of a tap
Chase Freedom Flex℠
You earn 5% back on rotating bonus categories that you activate, on up to $1,500 in spending per quarter. Gas is usually among the 5% categories one or two quarters per year. This card also earns 5% cash back on travel booked through Chase, 3% back at restaurants and drugstores, and 1% on everything else. There’s a terrific offer for new cardholders, too.
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
- Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
- Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1% on all other purchases.
- No annual fee.
- 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 – 23.74%.
- No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
PenFed Platinum Rewards Visa Signature® Card
If you’re willing to endure a little hassle in joining this credit union and using its points, it’s hard to beat the return in points on the PenFed Platinum Rewards Visa Signature® Card, which has an annual fee of $0. Each $1 spent on gas earns the equivalent of 4.25 cents when redeemed for gift cards, which is a superb return. It also helps at the supermarket. The card is also our only choice that isn’t issued by a megabank, if that appeals to you.
- Rate and offers current as of February 1, 2021 and subject to change.
- $100 statement credit after spending $1,500 in purchase transactions within the first 90 days of account opening.
- Earn 5 points on gas purchases at the pump.
- Fuel purchases for airplanes and boats and made via inside store attendant receive 1 point per dollar spent.
- Earn 3 points on supermarket purchases (3 points/dollar spent)
- Earn 1 point on all other purchases (1 point/dollar spent)
- No annual fee
- No foreign transaction fees
- No cash advance fee
- Chip and Contactless ‘Tap to Pay’ enabled for added security, ease and convenience at the point of sale
- Click and Pay eligible, via Secure Remote Commerce, so you can enjoy easy and secure online buying checkout
- Digital wallet capable
- Purchase variable rate as low as 13.49% APR
- 0% promotional rate for 12 months on balance transfers made between now and March 31, 2021. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%. 3% balance transfer fee per transaction. Subject to credit approval. If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date.
- Cash Advance APR 17.99%
Is a gas credit card worth it?
Whether a gas credit card is worth it depends on how much you spend on gas. Truckers or Uber and Lyft drivers might want to consider a gas credit card — but even if you just have a long commute, it could be worth it for you.
Think about your lifestyle and what makes the most sense for you — do you drive a ton and visit the same gas stations over and over? If you don’t spend a lot on gas, or if the gas credit card you’re considering doesn’t offer you rewards for the specific gas stations you typically visit, it’s worth considering where you do already spend money. Maybe you spend a lot at restaurants, in which case a dining rewards card would make more sense.
Do gas credit cards help you build credit?
Like most credit cards, a gas credit card can help you build credit as long as you meet a couple of criteria.
First, it’s important to pay your statement balance in full by the due date. Paying your bills on time can help you build or maintain a positive payment history, which is one of the many factors that determine your credit scores. And paying the full statement balance if it’s possible can also help keep your utilization rate low. Your utilization rate — or the percent of your available credit that you’re using at any given time — is another factor that can impact your credit.
Second, does the card issuer report your account activity to the three major consumer credit bureaus? If not, your positive payment history and low utilization rate won’t be able to help your credit. Which bureau the issuer reports to, or whether it reports at all, can vary, so we recommend checking with the issuer before you apply for a card.