Gas can be expensive and unfortunately its one of those unavoidable expenses for most of us. One way to cut down your monthly gas expense is either to drive less, or use a gas rebate card. Driving less probably isn’t an option most of us can live with so this article will explore the different types of cards that can help you cut down your gasoline expenses. With these cards you earn a percentage back when you make gasoline purchases. Depending on how much you spend on gas each month this could add up to be quite a savings. There are many different gas cards out there, but in order to maximize your gas rewards you need to know how the cards work and the different options you have to choose from.
Gas Rebate Cards
A gas rebate card works similarly to any rewards card in that the card user gets a percentage of what they spend back. With a gas rebate card the card holder gets a percentage back of what they spend on gas. The percentage they get back usually comes in the form of a credit that is applied to their credit card bill. The rebate percentage that you receive back depends on the card. Each card works differently and this is why comparing cards works to your advantage. Typically, card holders earn between 1 and 6 percent back with a gas rebate card, but the average is about 3 percent. Some cards will offer a higher introductory rate like 6 percent and then it will drop down to a lower percentage after the introductory period.
Most major gas companies offer their own brand specific gas card. With these cards you can only use them at their brand locations. This has its advantages and disadvantages. If you frequent one gas station most of the time and don’t care to shop around for lower gas prices then this type of card might work well for you. However, if you want to shop around for the lowest gas price having a brand specific gas card could interfere with maximizing your rewards. If you travel often you might not always be able to get to a specific gas station either.
Rewards Cards that Offer Gas Rebate
A Gas Rebate Credit Card works differently from a gas card. First, they can be used anywhere because they have either a Visa or MasterCard logo. There are many rewards credit cards that offer gas rebates. The nice thing about these cards is you don’t have to specifically use them for gas and you can earn rewards on other purchases besides gas as well. In this instants the card could offer 3 percent back on gas purchases and 1 or 2 percent back on all other purchases. These cards are sometimes more attractive because they are more flexible. Many of the popular rewards cards offer gas rebates as part of their rewards program.
Additional Factors to Consider
With any card you need to review the terms and conditions of the card. Knowing exactly how the card works will help you determine which card will work for you. Some cards have strict restrictions on how the card works. For example, there are cards that only allow rebates to be earned if you pay at the pump, eliminating the option to pay at the counter. If you don’t know this information then your going to miss out on your savings. It is common for a gas card to have a higher interest rate than a traditional credit card. Knowing this might help you narrow down your search for a card.
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