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Save Up to $.40 per Gallon On Gas

Written by Kenneth Lin May 14th, 2008 at 12:05 PM CDT 6 comments

With gas prices averaging near $4.00 per gallon and a chance of them hitting $5.00 per gallon this summer, gas-based reward credit cards deserve a second look. Rebates range from 6% to 3% based on the card, saving you $.12 to $.24 per gallon. Most cards even have 1% back on all other purchases, making them a great general card as well. Each card has its own set of requirements and disclaimers so please read disclaimers carefully.

Discover Open Road(SM) Card- 5% Cashback bonus on gas and auto maintenance purchases up to $1200 in gas per year. 1% cash back everything as well. The intro APR of 0% and regular APR of 10.99% also makes the rates attractive. The card claims you can get 5% to 20% cashback at top online retailers as well. I didn’t see the list in the Terms and Disclosures.

Chase Perfectcard(TM) Mastercard - This card has 6% back on any gas purchase the first 90 days and then goes to 3% afterward. It also carries 1% cashback on all other purchases. The into rates are similar to the Discover Card above. I didn’t see any limits like the Discover card when I scanned the Terms and Disclosures.

Chase BP Visacard - This card is great if you live near BP. They are doubling the rebate amount on gas to 10% for the first 60 days. Nice if you plan on taking a long summer driving trip. This combined with the other rebates looks tempting. Their rates are not as good as the ones above, but if you pay your bills off every month and live near BP gas stations, this seems like a nice card.

I’ve listed some of the ones I could find. Here are a completely list of all credit card reviews. If you know of a better gas credit card, please leave a comment and update the post.

Topic:

Credit Cards, Personal Finance

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[...] M0 wrote an interesting post today onHere’s a quick excerptSave Up to $.40 per Gallon On Gas Written by Kenneth Lin May 14th, 2008 at 12:05 PM CDT No comments With gas prices averaging near $4.00 per gallon and a chance of them hitting $5.00 per gallon this summer, gas based reward credit cards deserve a second look. Rebates range from 6% to 3% based on the card saving you $.12 to $.24 per gallon. Most cards even have 1% back on all other purchases making them a great general card as well. Each card has it’s own set of requirements and disclaimers [...]

by » Save Up to $.40 per Gallon On Gas - May 14th, 2008 at 12:44 PM CDT

[...] few days ago, I decided to apply for one of the Gas credit cards I wrote about. I then updated my credit score the next day. My score dropped 6 points from the [...]

by Credit Karma - May 16th, 2008 at 11:09 AM CDT

I am thinking about applying for the BP card since they carry the highest quality Diesel around. Cetane 49-51.

by Kosh - May 22nd, 2008 at 6:16 PM CDT

look at it this way — with gas prices being the highest ever, we will be getting the fattest rebate checks on record also!

by Henry - June 4th, 2008 at 2:55 PM CDT

As interest rates sour it’s cards like these that will take the strain off. Gas prices are only going to get worse, so its well worth getting the discount every time you fill up.

by Credit Cards - September 27th, 2008 at 11:29 AM CDT

I agree. Ease the strain whenever possible. With a decent rebate gas card, it’s not going to sting quite as much as we watch our wallets empty, standing there in front of the pump.

by My Credit Repair - October 1st, 2008 at 4:32 PM CDT