Fill ‘er Up: Earning Rebates with a Gas Rebate Credit Card
Cut Your Gas Bill by Using Gas Rebate Credit Cards
By Rebecca Lindsey, CardRatings.com Senior Staff Writer
Are you feeling a little light in the wallet? Suddenly
regretting the decision to go for the V-8 engine? Vowing to look into one of those hybrid cars?
Chances are you’ve just been to the gas station.
With gasoline prices soaring, many are searching for ways to
cut costs at the pump. If you’re one of them, credit cards that offer rebates
for gas purchases might be up your alley.
Traditionally, gas rebate credit cards (or gas credit cards) have been affiliated
with a particular company or brand of gas, such as Shell, ExxonMobil,
Phillips 66, and Marathon, among others. These cards are
great if you habitually purchase your gas from a specific company, but not so handy
if you’re not particular about where you fill up and find it aggravating to
have to search for a certain gas station.
Newer cards give more versatility by offering rebates
regardless of where you fill your tank. Ira Stoller,
Senior Member on the CardRatings.com Message Board, asserts
“ten years ago, credit cards charged consumers a premium for using their credit
cards at the pump. Now these same companies have recognized that
pay-at-the-pump business is huge, and they’re engaging in a ‘semi-battle’
competing for that business by offering increasingly better rewards and
rebates.”
While many cards offer rebates or rewards for many types of
purchases including gas, a few are catering specifically to consumers looking
for breaks on gas purchases. Most do not charge an annual fee, or the annual
fee is waived with a minimum annual purchase(s).
Chase
Perfect Card
The Chase Perfect Card offers a 6% rebate on all gas
purchases made at any gas station during a 90 day introductory period, and 3%
thereafter. Also offers 1% rebate on all other purchases with the card. Rebates
are automatically credited towards future purchases.
AAA Visa® Card
AAA Cards offers up to a 5% rebate on any brand of gas that is
purchased at the pump. While it does not offer a cash rebate on non-gas purchases, the rebate
is offered for gas regardless of where it’s
purchased. The only restriction is that rebates for most AAA cardholders
are capped at 2 percent of total monthly retail charges.
So, if you only use the card for gas purchases, then you rebate will
be limited to 2%.
Rebates
are automatically credited towards future purchases. Stoller
likes the
versatility of the card. He states “most other cards
limit you to one type of gas or the rebates can only be used to purchase gas.
The AAA Card gives cash rebates credited to your card for any brand of gas.”
Discover Platinum
Card with the Cashback Bonus® Plus Program
Discover Platinum Card is a card that offers rebates on most
purchases including gas. The card offers up to 5% of each gas purchase, plus up
to 1% of each purchase on other purchases – based on the annual level and type
of purchases. Gas purchase awards are applied when you pay at the pump or in
the station. The site states consumers can earn “up to 10% Cashback
Bonus® award
when you exchange cash award for up to double the amount in certificates for
products and services from our Cashback Bonus® Partners,” so
this is one to investigate if you like the products and services affiliated
with the Discover Cashback Bonus® program.
Advanta Business Rewards Platinum MasterCard®
For small businesses, the Advanta Platinum Business MasterCard with gas rebates is a
smart choice, with up to a 5% rebate on all gas purchases (certain restrictions
apply).
If you want to make the most of your credit portfolio without carrying too
many cards, look into one of the cards that offers
rebates for gas and other purchases, such as Citibank's Dividend Platinum Select® MasterCard® or Blue Cash® from American Express. The
Citibank card offers a full 5% cash rebate on stand-alone gas station, supermarket and drugstore purchases and a 1% rebate on
all other puchases
(up to $300 a year). The Blue Cash®
card offers up to 5% cash back (the rebate is tiered) on purchases at
stand-alone gas stations, drugstores, and supermarkets and up
to 1.5% cash back on all other purchases.
With a little thought and planning, you can make credit
cards work for you. There has never been a better time to check into a credit
card that gives cash rebates for your gasoline purchases. You’ll certainly
remember that the next time you hit the pump for a fill-up!