Gas cards or Gas rewards?
Anyone have experience with these?
I'm not looking for something that will limit me to a particular station or brand though, as I'm constantly travelling. Maybe something that offers gas AS THE REWARD? Any suggestion at all is good though.
I get great mileage in my car, but I'm doing a lot of driving ($15k in gas in 24 months) and would like to save as much $$ as possible.
Comments
You can find a complete list of gas rebate credit cards here:
http://www.asapcreditcard.com/gasoline-cards.html
Most of these cards are very flexible and allow you to earn rewards at almost any gas station. You'll get a flat percentage of your gasoline purchases (1%-5%), and usually 1% on all other purchases. You'll either receive a check, or receive a credit to your credit card bill each month.
Gas rebate cards are great way to earn extra cash-- and essentially lower your overall gasoline costs. And contrary to the previous poster, gasoline credit cards have relatively competitive interest rates to other 'reward' credit cards (between 9.99% - 15.24%)...
Hope this helps. GOOD LUCK!
three factors that can ruin your gas reward credit card experience.
1. Not being able to repay the balances every month
If you are not in a condition to repay the balances fully every month, the credit card company will simply don't give you any reward, be it gas, low APR, or any other. The most important condition they keep is that a credit card holder should be able to repay the balances in full. The only situation that saves money for you, if you falter on repayments, is to get a credit card with the lowest possible regular APR.
2. Not using the right partner to fill your tank
Credit card companies have special tie-ups with filling stations and gas providers. They mention it clearly in their offer document. If you keep on taking gas from every single filling station except the preferred partner, you get nothing! Choosing your filling station matters.
3. Not spending the right amount to get maximum benefit
The credit card offer says 5% cashback on gas stations*, but does it translate into 5% savings on all gas purchases? No, there is an asterisk(*) after the offer, directing you to check the fine prints, which says that if you spend something between 20,000 -40,000 per year on gas purchases from a particular filling station only then you get 5% cashback, if you spend less the cashback is also less and if you spend more than this limit the cashback percentage will also reduce. See, how 5% doesn't mean 5% on all purchases. Get all information about gas reward card at: http://www.credit-card-gallery.com/gas_credit_card...
Gas cards APR are way too high..They are usually 22% to 29%..Your better off finding a low interest credit card and using that.