Guide to Gas Credit Cards
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.
5% For Gas All Year Round
The PenFed Platinum Cash Rewards Card is the only card today that pays 5% cash back on gasoline purchases at any station. The only snag about getting this card is that if you are a member of PenFed, then you need to enroll, which will cost $15 (one time fee - see our review on how to become a member). But aside from the BP card, no other cards pays 5% rebates on gasoline today.
4% Gas Rebates
The TrueEarnings Business Card from Costco and American Express will probably only appeal to those that are actually costco members. But if you are, this card pays 4% rebates on gasoline purchases. Though it is technically a "small business card", you can apply as an individual and be treated as a sole proprietor (ie using your SSN instead of EIN number).
3% Gas Rebates
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% rebates on gasoline, 2% on restaurants and travel the whole year round. If you are a costco member, then this would make a great card to have because you earn the 3% at non-Costco stations as well.
The SimplyCash® Business Card From American Express OPEN allows you to earn 3% cash back on gasoline purchases for up to $12,000 in gasoline purchases a year. You also earn 5% rebates on wireless bills and office supplies.
The Blue Cash Everyday(SM) from American Express is arguable the best cash back and gas credit card today. It has just recently changed it's rebate formula so that it is no longer a tier system. You can earn 3% at supermarkets, 2% on gasoline and department stores. Best of all, you can earn unlimited rebates all year round and there is no annual fee for this card.
The Discover® Open Road Card allows you to earn 2% rebates on gas and restaurant expenses all year round. You can also earn 5% to 20% when you shop online with their merchant partners. It is one of the rare cards today that allows you to use earn gas rebates at all gas stations.
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 Gas Credit Card - 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.
Gas Credit Cards that can be used at 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 Credit Cards - 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. An example of a good cash back credit card is the Blue Cash from American Express®, which pays you 5% rebates on gasoline, supermarket and drugstore expenses once your annual spending exceeds $6,500.
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.
Caps 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 from American Express®.
List of Gas Station Credit Cards
| Card | Gas Rebates |
| Chase BP Visa® Card | 5% |
| Hess Visa® Platinum | 3% |
| Shell Mastercard® | 5% |
| 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 |
