List of Cards That Pay Cash Back on Gas
Below is a list of gas credit cards that will help you save money on gasoline purchases. We have listed the ones that pays the most rebates at the top. You should be able to find a card that will suit you here on this page. It was not too long ago that many cards offered 5% rebates on gasoline purchases. Those days are long gone. 3% is the best that you can get today.
3% Gas Rebates - The Best You Can Get Today
Costco members already know that gas at Costco stations are cheaper than most. The TrueEarnings® Card from Costco and American Express allows you to earn 3% cash back on gasoline at U.S. stand-alone gas stations, including at Costco, for purchases up to $4,000 per year (1% thereafter). You also earn 2% cash back at U.S. restaurants; 2% cash back on eligible travel purchases; 1% cash back on other purchases, including at Costco. You have to note that Costco gas stations only accepts American Express cards. But only Costco's affinity card allows you to earn 3% cash back. But the best thing of it all is that if you fill up at other standalone gas stations, this card will still work.
2% Gas Rewards Credit Cards
The Blue Cash Everyday® Card from American Express is arguable the best cash back and gas credit card today. It has just recently changed it's cash back formula so that it is no longer a tier system. You can get 3% cash back at U.S. stand-alone supermarkets, 2% cash back on gasoline at U.S. stand-alone gas stations and select major department stores; 1% cash back on other purchases. Also note that the first $6,000 of purchases at U.S. stand-alone supermarkets in a calendar year qualifies for 3% cash back; 1% thereafter. Best of all, you can earn unlimited cash back all year round and there is no annual fee for this card.
How to Choose a Gas Credit Card?
To get the best gas credit card for yourself, you first have to understand the different types of cash back credit cards that are available in the market. They each have their strengths and weaknesses and you need to look at your own gasoline spending habits to decide which is the right card for you.
Station Specific - The first type of gas rewards credit card are cards that are issued by a particular brand of gas stations. For example, Exxon Mobil, Conocco Philips, Hess, BP, Lukoil, Shell all have their own gas credit cards. These cards allow you to earn cash rebates when you use your card at their gas stations. In the past, they use to pay a good 5% rebates when you bought your gasoline from their stations. Recently, however, there has been a change in how they give their rebates. With the rising price of oil in 2008, most gas cards now pay 15 cents rebates for every gallon of gasoline that you fill.
Advantages - The advantages of the gas card is that they allow you to earn rebates at a particular gas station. This will suit you if you only use a particular brand of gas station.
Disadvantages - You can only earn rebates at that particular gas station.
Any station - While station specific gas cards lets you earn extra rebates only at their gas stations, there are gas credit cards that allow you to earn rebates when you purchase gasoline at any gas station. This is actually a much better proposition for most consumers.
Cash Back - You can also get cash back credit cards to earn cash rebates. The better cash back credit cards pay anywhere from 3% to 5% not just on gasoline, but also on other items like supermarket and drugstore expenditure. In this sense, a good cash back credit card is better than a dedicated gas credit card.
How do you get your rebates?
Different gas credit cards allow you to earn your rebates differently. Most station specific gas cards simply credits your rebates to your next statement bill. Some cards require that you request a check once you have earn a certain amount in rebates.
Because of skyrocketing gas prices the past year, many credit cards have capped the amount of rebates you can earn on gasoline spending. Though some put a monthly or yearly cap on the amount of spending that earns you rebates, the better gas credit cards allow you to earn unlimited rebates. An example of a card that allow you to earn unlimited rebates on gasoline spending are the Blue Cash EverydaySM Card from American Express®.
List of Gas Station Credit Cards
|Chase BP Visa® Card||5%|
|Hess Visa® Platinum||3%|
|Chase Marathon Platinum Mastercard®||5%|
|Chase PerfectCardTM Mastercard®||3%|
|Speedway SuperAmerican Platinum Mastercard®||4%|
|ExxonMobil Credit Card||3%|
|Phillips 66 Conoco 76 Mastercard®||3%|
|Gulf Credit Card||4%|
|Lukoil Credit Card||3%|
|Chevron Credit Card||10 cents per gallon|