Why Choose A Gas Credit Card?
It seems like every gas station in the nation now has applications on the counter for a gas credit card. While many people may think, “Why bother, I already have a credit card,” gas cards today also frequently offer member bonus features like regular credit cards, including airline miles, cash rebate systems, discount offers with participating merchants and affordable roadside assistance programs. Often, gas card plans will approve accounts for individuals who don’t qualify for a good deal on a regular credit card account, also making them a great option for people who need to build their credit rating.
If you’re looking to build credit, your options may be somewhat more limited. But if you use your gas card regularly, and pay it off at the end of every month, you’ll soon find that you’re able to negotiate a better interest rate with your existing card, or even apply successfully for a card with a better benefits package. However, keep in mind that gas cards often have much higher interest rates than a regular credit card would, so you should always make sure you can afford to pay your balance on a monthly basis, to prevent exorbitant interest charges.
If you have driving-age children living at home, a gas card is a great way to ensure your kids don’t end up stranded with an empty tank, while at the same time knowing that a regular credit card won’t get taken on a “joy ride” by their friends. A roadside assistance benefit can give you extra peace of mind, knowing they won’t have to rely on the assistance of strangers if the car breaks down or gets a flat tire.
If you have a particular gas station you visit regularly, getting a gas card from that company would be a good choice, particularly if it offers an incentive program based on frequency of use, such as airline miles per dollar spent, or a coupon or rebate program. If you travel a lot, choosing a gas card for a major nationwide chain of gas stations may be more useful than one that’s branded for your neighborhood station.
A gas card with a roadside assistance option may be an affordable alternative to a premium roadside assistance plan such as AAA. There are as many options in gas cards today as there are reasons to apply for one, so don’t hesitate to comparison shop to find the best benefits package for your needs!
I recently purchased a new car. I had been without one for about 10 months, and oh baby, after such a long wait, was I ever ready for a heavily damaged 95 Pontiac Sunfire. As soon as I got it, I picked up my girlfriend, took her down to the best chili and burger joint in the Midwest, feasted, and left. I filled up my tank on the way home, as it was bone dry. Upon examination, I noticed something had changed in the last year or so. It suddenly cost me $60 to fill a tank and order two cheeseburgers and chili.
$2.89 per gallon at what I recalled as the cheap gas station in town. And the folks at the news station tell me eight times per night that prices are going up. This was all very peculiar to me because last time I was a driver, I recalled people complaining about the prices being $1.89. What had happened?
In all honesty, I said out loud to my girlfriend: ‘I’m getting one of those gas credit cards. This is ridiculous.’ I set about researching this morning. Not surprisingly, just about every issuing company from here to Tibet offers a gas rewards card. Among the most lucrative I found are the following:
The Chase PerfectCard is a Mastercard brand card that offers a 6% rebate on gas purchases for the first 90 days at nearly any gas station, which is a higher rebate than almost every other gas card. However it recedes back to 3% after the 90 days is up. It also offers a 1% rebate on all other purchases, no annual fee, and 0% APR for the first year.
The Citi Driver’s Edge Credit Card also deserves mention. It also has a 6% rebate on gas purchases, but it goes beyond normal gas cards. For 12 months, you get 6% rebates on gas station purchases, supermarket purchases, and drugstore purchases. The rebates can be used on purchasing or maintaining any make or model car. Even a two-tone, primer and black Sunfire.
The Discover Open Road Card. If my credit were not in the figurative financial toilet, I would immediately apply for this card. 5% cash back on gas purchases, 1% cash back on all other purchases, no annual fee, 0% APR for 12 months, 0$ fraud liability and the ability to double cash back if you opt for gift cards rather than cash. That means up to 10% of the money you spend on gas could be returned to you, so long as you don’t mind spending at one of Discover’s 40 brand name partners. If not, heck, keep the 5% cash back.
These are just three of the many gas cards out there. Do your own research and you may find cards better than these. Myself, I’ll take anything at this point, and I’ll also probably get more and more desperate as prices rise. If you don’t hear from me for a while, it probably means I got arrested for siphoning gas in a parking lot or something similar.