The Discover Open Road Card (former Discover Gas Card) will be changing it’s rebate policy slightly on gas purchases from October this year. At present, cardholders can earn 5% rebates on gasoline purchases at any station for up to the first $1,200 in annual gasoline purchases from with the card.

This will change in the following way from October 2007. You can still earn 5% rebates on gasoline purchase for the first $1,200 in gasoline spending. But each month, you can only earn 5% rebate for up to $100 in gasoline spending. Essentially, Discover is forcing cardholders to spread out the gasoline spending over 12 months. This will probably be difficult for many cardholders because it cost close to $50 to fill up many vehicles these days.

This is becoming an issue for credit card holders who want to earn 5% cash rebates for gasoline purchases. In the past, the Citi Dividend Platinum Select Card and the Chase Cash Plus Rewards Visa (now replaced by the Chase Freedom Card) gave cardholders a 5% rebates on gasoline purchases. The Citi® Dividend Platinum Select® Card now only pays 2% rebates on gasoline, supermarket and utility purchases, while the Chase Freedom^SM Cash Visa® Card pays 3% cash rebates, with a cap on $600 in monthly expenditure.

The best card that pays 5% rebates on gasoline is the Blue Cash® from American Express . You do have to spend above $6,500 (in annual spending) before you can earn 5% rebates. But you can earn unlimited rebates.

This entry was posted on Friday, May 25th, 2007 at 01:14 and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.