Chevron Credit Card Review

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Summary – The Chevron credit card is specifically designed for those use their gas from Chevron and Texaco stations. You can earn rebates by using this card at their stations. Let’s find out more about this card.

Rebate Formula – The Chevron credit card pays you 10 cents per gallon rebate when you get your gasoline from Chevron and Texaco stations. You will earn 3% rebates on non-fuel purchases at their stations. For other regular purchases on the card, you will earn 1% rebates. You can earn up to $300 in rebates in one calendar year.

Annual Fee and APR – The Chevron credit card has no annual fee. The apr ranges from prime rate plus 7.99% to 14.99%. The card uses the average daily balance method (including new purchases) to compute balances.


Chevron Credit Card Gas Rebate Break Even Analysis

It is actually not easy to compare this card with it’s peers because of it’s rebate formula. Most other cards that pay rebates on gasoline pay between 2% and 5% rebates. But instead, this card pays you 10 cents per gallon. So the rebates vary depending on what the price of gasoline is. So rather than do an extensive comparison, I think it makes more sense to do some break even analysis. We will calculate the break even for 2%, 3% , 4% and 5%.

Break Even for 2% – The break even analysis for a 2% rebate is $5 per gallon. We have not come close to this yet. So it is pretty clear at today’s prices, you are getting more than 3% rebates on this card.

Break Even for 3% – The break even analysis for a 3% rebate is $3.33 per gallon in gasoline.We have certainly been at the threshold.

Break Even for 4% – The break even analysis for a 4% rebate is $2.50 per gallon. Well, it has been a long time since we have even seen gas prices prices that low.

Break Even for 5% – Gas prices need to be at $2.00 for you to earn a 5% rebate equivalent.


Chevron Peer Comparison

Rather than going through a comparison with every card, I thought that it would be best to just highlight the rebate that other cards give. This is because with the way this card is set up, it is impossible to do a real apples to apples comparison as the rebates you will earn depends on gasoline prices.

Among gas station specific cards, the Shell, BP and Marathon pay 5% rebates. The Lukoil pays 4% while the Hess and Gulf pays 3%. Among cash back cards that allow you to earn gas rebates at any station, the The PenFed VISA Platinum Gas / Cash Rewards Card pays the best rebates for gas at 5% and also 2% for groceries. The Costco credit card pays 3% for gas and 2% for travel and dining expenses, while the Blue Cash EveryDay pays 2% rebates on gasoline and department stores and 3% on groceries.


Does the Chevron Card make sense?

Pros – To be honest, I cannot think of any thing great to say about this card.

Cons – Rebate for is a fixed amount based and hence, the rebate percentages varies with gas prices.

Verdict – If you look carefully at the rebates formula of this card, you will realize that this card works out well when gas prices are low. As on now, gas prices remain at a level where at best, you will earn 3% rebates. But is that good enough? Looking at the competition today, probably not. The better gas station cards pay 5% rebates. And even the PenFed VISA Platinum Gas / Cash Rewards Card pays 5% on gas, and that applies to any gas station. Though you may only be filling you gas a Chevron Texaco stations, I suggest you consider getting one of the cards that we have mentioned in this review instead. That way, you will earn a fixed percentage in rebates regardless of where gasoline prices are.

Chevron Credit Card
Reward Benefits
Rebate Percentages Earn 10 cents per gallon at Chevron stations
Earn 3% rebate on non-fuel Chevron Purchases
Earn 1% rebate on all other purchases
Caps on Rebates $300
Cost/Fees/Interest rates
Introductory rate N.A.
Annual Fees No annual fee
Purchase APR Prime Rate plus 7.99% to 14.99%
Cash Advance APR Prime Rate plus 14.99%
min is 19.99%
Penalty/Default Rate APR 29.49%
Min Finance Charge $1.00
Grace Period 20 days
Balance Calculation Method Average Daily Balance (including new purchases)
Cash Advance fee 3% min $10.00
Foreign Currency Conversion fee 3%
Over-the-credit-limit fee $35.00
Late Payment fee $0 for a balance up to $14.99;
$15 for a balance of $15.00–$49.99;
$20 for a balance of $50–$99.99;
$29 for a balance of $100–$249.99 and
$39 for a balance of $250 or more.



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20 Responses to “Chevron Credit Card Review”

  1. Joel O’Connell Says:

    Correction on your post. There is no grace period from Chevron.
    I was one day late and was charged the inflated service fee. I called and they took it off.
    Last month, for whatever reason, I didn’t get my payment in. It
    either wasn’t sent or I tossed it by mistake. Mind you, I pay my
    bills promptly at the beginning of each month and have been a good
    custommer of Chrevron.
    Last months bill was $52.96 and I was accessed a late penality charge of $25. I was told there was a new management policy put into effect March 2008 that came up with this fee structure.
    I told the supervisor I was going to the press and to cancel my
    card. She,then took $15 off the late fee.
    I think Chevron’s fee structure is a rip off. Do all other
    gas companies charge such an inflated fee?

  2. Ben Says:

    The time to pay has gotten shorter and shorter, they only allow two weeks from closing date of bill until payment is due. So you basically have to pay the bill as soon as it is received. It seems like they are doing this to incur the $25 late fee and I also noticed that there is a $5 report fee, what a rip! I am cancelling my credit card as I’m tired of being ripped off.

  3. Larry Says:

    My payment of $22.00 reached them 1 day late and they charged a $10
    late fee plus raised my interest rate from 21.49 to 30.49%. I pay my account in full each monthas I have been for the past 18 years. I closed my account and wrote a letter to Chevron USA. GE Money Bank is a bunch of crooks and or loan sharks and the attorney general should look into their practices.

  4. Jim Says:

    I pay off my Cheveron/GEMB account each and every month. I recently received my June 2009 statement and it had a late fee of $29.00 for being one day late according to GEMB even though I had paid the account in full.

    Cheveron/GEMB refused to remove the late charge, so I closed the account and advised them I was taking further action to resolve the issue.

    Everyone needs to send this financial institution a loud and clear message by closing your account(s). Let’s see how well Cheveron/GEMB does without any consumer business!

  5. James Says:

    The Chevron Texaco credit card is a hug ripoff. Customer service on the phone involves people who don’t speak English, and is only available 8am to 5pm PST…are you kidding me.

    Avoid this card at all costs. Not worth the hassle.

  6. Jo Ellen Woodrow Says:

    I had great service and credit with Cheveron until a new bank took over last year. Suddenly my acct. line of credit (with no notice) went from $1500 to $300. Recently I paid my card off – I was calling each month and checking online account infor. I was diagnosed with a brain tumor in Feb. and prognosis is very good. I immediately called Cheveron and was told no problem if I was late for a month or two due to medical issues. I thought when I pd. my whole acct. off last week – I was paying on an active card. I even called the week before to verify it was still active and was told, yes is. Then when I pd. off – was told was closed a month before. No notice was sent to me nor was there a comments on my Internet Acct. Supervisor over the phone actually told me she did not know how to do the Internet Acct. infor. I can see now – all is likely a blessing in disguise. But I was proactive and I was lied to when I was assured my acct. was active. I agree with the previous post – not worth the hassle.

  7. ABC Body Shop Says:

    We use the Chevron credit card extensively for our business and pay it off each month. In July, I paid the bill on July 2 online and the due date was July 3. I received my August statement and it included a $212 late penalty! I called customer service and was told that some banks considered the 3rd a holiday and so it wasn’t credited to our account until the following Monday. Not only was I charged a late fee for the July statement, but I was also assessed late fees for all the fuel I had purchased up to the day it was due even tho I had not been billed for it yet. I was told that they would offer me a 10 cent per gallon rebate for all fuel I purchase for the next 60 days and that is all they could offer me. We are done with Chevron. We have spent an average of $1500 a month with them and have been a Chevron customer for 15 years but I guess they have so much money, they don’t need our business.

  8. G Says:

    I’ve the card for only two monthes, and use it to get gas only. THE CARD IS COMPROMISED IN THE SECOND MONTH. Either their fruad and security department is very weak or … I recommend that you monitor your card several times a day!

  9. choi Says:

    They have been charging $5.00 for reporting fee, which means they send statements by mail.
    I complained to them what kind of credit card company charges for the statement, they told me to receive the statements by email, and then they wouldn’t charge.
    Also they changed the billing cycle by 2 weeks and maximized the late fee revenue.
    The late fee is on the current balance which includes the new charges. Think of late fee charged on the new charge. It is absurd.
    On the top of that, if you pay partial payment, it is not counted as payment in calculating new balance in applying late fee for the next period.
    If you have $300.00 due on 8/1, $400.00 due by 8/15, if you miss 8/1 payment, the late fee is based on 400 + 300 = $700.00.
    If you make partial payment of $500.00 on 8/16, new charge due on 8/30 is $200.00, and miss the due date 8/30 again, the late fee is based on 300 + 400 + 200 = $900.00. They don’t count the payment of 500.00 for ending balance in applying late fee.
    By the second time, the percentage they apply to get late fee increases up to greater of $39.00 or 8.99% of ending balance since the history shows multiple late fees.
    If you talk to customer services, they will keep saying it is the terms and condition, and offer 10 cents per gallon credit instead of waving late fees. To get more credit, you just have to buy more chevron gas.
    It is a late fee scheme to induce more late fee revenue for them.

  10. Terrence Says:

    I had a Chevron / Texaco card for twenty years. I always paid the ballance in full. I cancelled my card prior to being activated with the National Guard. When I returned home I found that Chevron had not cancelled the card as requested. I had been billed for the Travel Club and late fees. Cheveron “customer service” would not even talk to me about it because they had sent it to collections and told me I was wrong about cancelling the card. I wound up paying some of the late fees to clear the account, just so I could get Chevron to talk to me so I could cancell the account again. Extremely poor customer service. I will not be buying their gas anymore. If you are thinking about credit with Chevron… DON’T DO IT.

  11. Scott Says:

    Their fleet card, or business card, is now owned by Fleetcor and they do the exact same thing. Shorten the terms and late mail the statement, so you will always get a late fee. Stay Away! The Chevron card is now owned by someone else. Use Amex to buy Chevron Gas.

  12. Jan E Cutler Says:

    I’ve had similar experiences to those recounted above. After 28 years of being with Chevron, today I canceled the card. I like the gasoline and the consistent quality, however, two things happened. First, on a recent trip the card declined at the pump. Customer Service, once I got through, traced my usage of the card and I was informed I had used it too much, although the total amount purchased that day was less than $100! I asked for a supervisor and got someone that couldn’t speak English. Secondly, my current bill had a $39 late fee, although, it had been sent in five days ahead of due date, as always. I paid off the bill today and directed them to send a final billing and charges.

  13. cheryl Says:

    I agree with the other complaints. We have had a chevron card for years and when this other management took over it has been horible. You have to mail it off as soon as you get the bill so I decided to get my bill sent to my email address, well I sent my payment on time and they received it on time but I sent it to the wrong address so that made it one day late and they charged me $140.00. I will cancel my card as soon as they open this morning. They just lost a customer who spend over $1200.00 a month.
    DO NOT GET RIPPED OFF BY THIS COMPANY !

  14. Diane Says:

    We have had a Chevron/Texaco business account for years, and I just cancelled all of our Chevron cards, same reason as all of the above. We have had big balances with them. Payment got there 1 day late and we were charged a ridiculous amount which they would not reverse. I just received the final statement, and same thing, they show the payment being received 1 day late and we got charged again the high late fee. I paid the invoice 5 days after receipt as I do not pay invoices every day. We don’t use Chevron gas anymore, there are plenty of other choices.

  15. Corey Says:

    I will be cancelling all of our Chevron fleet cards. We average $7,000 per month in gas purchases, and have always paid our bill in full on or before the due date. Because the due dates in November and December fell on holidays, our payments were credited to our account as being late. I called a couple of times and spoke to “supervisors” and “managers” (Joey, Trina, and Stacy), and apparently Stacy is in charge and she would not allow me to escalate my case and speak to anyone higher than her. Our late fees were astronomical (which Trina told me was not due to a system/process error–apparently it was my error that I paid on the due date because they need time to process my payments)–in Dec, the late fees totalled $1152 and in Jan, the late fees totalled $1173. All they could do was credit us for one month 100% and 50% on the other month. I did tell Stacy that I was no longer going to be doing business with them, and she just said “That’s your choice.” Obviously! Thanks, Chevron Fleet Card, you really know how to run your business and drive your customers away (but at least you made your buck)! Don’t apply for this card!

  16. Mr Credit Card Says:

    Corey – very sorry to hear that. Just out of curiosity, did you pay with autopay electronically or by snail mail checks?

  17. Dennis Says:

    I’m in the same boat as Corey. Does anybody know if the Chevron Credit Card falls under the credit card act of 2009 requiring a 21 day grace period from the day the statement is mailed to the due date. It used to be 14 days which coincidentally is what Chevron has now. I’m good for about 3 grand a month with them and my penalties range from 290 to 400 bucks a month. By the time we get the statement we don’t have enough time to write a check and put it in the mail. This is robbery!

  18. Denise Sanders Says:

    They do not have Credit card payment services it’s going to be 2013 and they do not accept CC payments?

  19. CAROLYN NIMAN Says:

    AVOID THIS CARD!!!!! EXTREMELY POOR CUSTOMER SERVICE AND I HAVE FOUND THE CUSTOMER SERVICE REPRESENTATIVES TO BE RUDE. OVER ZEALOUS FRAUD PREVENTION POLICIES. IN THE LAST YEAR, I HAVE HAD MY CREDIT CARD DECLINE 4 TIMES. I NEVER EXCEED MY LIMIT AND PAY MY BILLS EVERY MONTH IN FULL ON TIME. EACH TIME I CALLED THE SERVICE CENTER, I WAS TOLD THAT THEY SHUT MY CARD DOWN FOR EXCESSIVE USE. TWO DAYS AGO I USE MY CARD AT THE DRY CLEANERS AND THE FOLLOWING DAY I STOPPED AT HOME GOODS AND THE GROCERY STORE. THE TOTAL OF ALL THREE PURCHASES WAS LESS THAN $300 ON A CARD WITH AN $8000 LIMIT. THAT’S EXCESSIVE-REALLY!!!! THEY DO NOT CALL BEFORE THEY SHUT DOWN YOUR CARD SO YOU ARE LEFT WITH THE EMBARRASSMENT AT THE CASHIER CHECKOUT OF BEING TOLD YOUR CREDIT CARD HAS BEEN DECLINED.

  20. Daniel Says:

    Totally agree. Extremely pointless automated system that goes thru all the account status, a big waste of 5 minutes of my life, extremely rude automated system as well, the system will never let you talk to a rep because the system “investigate” your needs. EXTREMELY POOR CUSTOMER SERVICE, don’t know understand credit/debit balance, payment and reading detail in the account. Fraud prevention policies are a nightmare. What is the point of giving me $4k limit and stop me for using $40. Should I call the 1-800 to get approval everytime before i make purcahses? Never had a credit card that is so difficult to use.

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