Gas Rewards Credit Cards
By Ed Vegliante
Feeling down about your rising gas bills? Gas rewards cards can help! These cards offer you a chance to earn money back on your fuel purchases. There are plenty of reward plans to choose from. Before you apply, here’s what you need to know about gas rewards cards.
How Gas Rewards Cards Work
Gas rewards cards are similar to cash back cards. Most operate on a percentage system. Every time you purchase fuel, a certain percentage of cash is returned to you. This usually ranges from 1 to 6%. So if you spend $200 on fuel each month and have a card that offers 5% cash back, you will receive a reward of $10 each month. How’s that for pumping fuel?
Some gas rewards cards operate on a point system. You earn points based on your fuel purchases. These points can then be redeemed for dollars. Your cash is returned to you either through a check in the mail or as a to your card statement.
Plenty of Options
Gas rewards cards come in many varieties. Some card companies offer gas cards that earn rewards only at certain gas stations. If you regularly fill up at one place, this may be a good choice for you. Other companies allow you to earn cash back at any gas station. If you tend to vary where you purchase gas, this type of card will work better for you.
Some gas rewards cards also allow you to earn points or cash back on purchases besides gas. These may include a 5% cash back offer on gas purchases and 1% cash back on others. Or they could include a higher percentage back on both gas and auto maintenance purchases. If you want to use your card at a variety of stores and gas stations, one of these plans may benefit you the most.
Most gas rewards cards offer an initial introductory period with extra benefits. This might include a 0% or low APR for the first few months. Also, your card may offer extra points or a higher percentage of cash back on purchases for the initial period. This gives you a way to earn extra cash right
from the start. If you are traveling more than usual or are already putting in plenty of miles on the road, the gas reward card can give your wallet an added boost at the beginning.
What’s Right for you
Keep in mind that most gas rewards cards require you to have good or excellent credit. Also, many of them include a higher interest rate than other cards. So if you pay off your card bills each month, you can reap the rewards. However, if you usually carry a balance from month to month, a different card may work better for you.
Evaluate your spending habits and travel budget. If your fuel bill is usually high, gas rewards cards are an excellent option for you Look through the different gas rewards cards available and find one that will benefit you the most. Then apply online for a gas reward card. It is a great way to get some money back for a needed expense.
Click here to find Gas Rewards Cards. Ed Vegliante runs www.Credit-Card-Surplus.com, a directory helping consumers to compare and apply for cards.
