Best Gas Credit Cards to Save Money
Isn’t it a real headache whenever you pull up to the pump, dreading how much of a hit your wallet’s about to take? I get it because I’ve experienced that sinking feeling, too. But hey, guess what? After diving deep into some research out of sheer curiosity (and frankly for my own budget), lo and behold, there’s an unexpected financial lifeline – gas credit cards! If you’re revving on E when it comes to cost savings every time you fill the tank, stick with me folks.
This article is geared towards revealing some of the standout gas rewards credit cards available in our grand marketplace. We’ll be turning those routine pit-stops at your local fuel station into opportunities for stepping up your personal savings game! Trust me; this could literally pay off down the road.
Key Takeaways
- Gas credit cards give you money back when you buy gas.
- Types of these cards include Cash Back, Business Gas, Co-branded and Closed-loop.
- You should check the fee, rewards rate, sign – up bonus and your credit score before picking a card.
- There are two standout cards: Blue Cash Preferred® Card from American Express and Citi Custom Cash® Card. Both have pros and cons that should be weighed up by the user.
Understanding Gas Credit Cards
In this section, we’ll delve into the nitty-gritty of gas credit cards. First, we’ll explore how they function and then discuss the different types available. We’ll cap it off by weighing their pros against their cons to equip you with all the information you need in making an informed decision.
Stick with us as we navigate these waters together!
How Gas Credit Cards Work?
Gas credit cards work like magic. You use them to pay for gas at the pump. Every time you buy gas, you earn rewards. These can be cash back or points. But not all buys count as a “gas” buy.
Some big stores might sell gas but their sales do not count for these credits and offers from most cards. The amount of bonus bits your card can get in a year may have an upper limit too! Also, if your credit score is less than 670, getting one could be hard so check this out first with all that speed from race car movies we love so much.
Types of Gas Credit Cards
There are a few different kinds of gas credit cards out there. Here’s a brief rundown:
- Cash Back Gas Cards: These cards give you money back when you use them to buy gas.
- Business Gas Cards: These are great for people who run businesses that need lots of gas.
- Co-Branded Gas Cards: This type is tied to one specific gas station brand.
- Closed-Loop Gas Cards: They only work at one chain of gas stations.
Advantages and Disadvantages of Gas Credit Cards
Gas credit cards can offer various benefits and advantages, but they also come with a few drawbacks. Here’s a rundown of the primary pros and cons of using gas credit cards.
| Advantages | Disadvantages |
|---|---|
| Gas credit cards can help offset the cost of high gas prices, especially during road trips. | Some gas credit cards have restrictions on what qualifies as a gas station purchase. |
| These cards often offer unique rewards and discounts on gas purchases. | Gas-station-branded cards may provide less value compared to general rewards credit cards. |
| Many gas credit cards offer additional rewards on other categories besides gas, such as groceries or dining. | Some gas credit cards have earning caps that limit the amount of bonus rewards you can earn on gas purchases. |
| Gas credit cards can help build credit when used responsibly. | Gas credit cards can have high APRs, making it important to pay the balance in full each month to avoid interest charges. |
Factors to Consider When Choosing a Gas Credit Card
When choosing a Gas Credit Card, it’s vital to weigh considerations such as the annual fee, rewards rate, any available sign-up bonuses, and your credit score requirements. Each of these factors can influence if a specific card is an ideal match for you in terms of saving money on fuel purchases.
Annual fee
Paying an annual fee for a gas credit card might seem tough. But cash back on gas and other perks can balance things out. For example, the Citi Premier® Card has an annual fee of $95.
The Amex EveryDay® Preferred Credit Card also charges $95 each year. Yes, you will pay money to use these cards but they offer big rewards in return!
Rewards rate
The rewards rate means how much pay back you get from using the card. It counts a lot in gas credit cards. For example, the Citi Rewards+ Card gives you two points for each dollar at gas stations.
These points can later turn into cash or other prizes.
High rewards rates help save money on fuel buys. The Discover it Chrome Card is good for this. This card gives cash back when used to buy gas and also for some other things.
Sign-up bonus
A sign-up bonus is like a surprise gift. Some gas credit cards give you this when you start using them. For instance, the Hilton Honors American Express Card gives you rewards to stay at their hotels as your sign-up bonus.
But not all cards offer this jammy treat. The Ink Business Cash Credit Card and the Discover it Chrome card don’t have any such perks in their package.
Credit score requirement
Your credit score matters a lot. Most gas credit cards want you to have a good one – at least 670 or more. This is a sign to them that you can be trusted to pay back what you owe on time every time.
If your score is low, work on bringing it up before applying for a card like this. It will make things easier and help avoid any bumps in the road later on!
Best Overall: Blue Cash Preferred® Card from American Express
Let’s dive into the standout aspects of The Blue Cash Preferred® Card from American Express which has trumped all in being ranked as the best overall gas credit card.
Features & Description (Blue Cash Preferred® Card from American Express)
The Blue Cash Preferred® Card from American Express is a top gas credit card. It gives you 3% cash back when you buy gas in the U.S. You also get a hefty 6% cash back for spending at U.S. supermarkets, up to $6,000 each year and on select U.S. streaming subscriptions.
All other buys earn you 1% cash back. Plus, if you spend $3,000 within your first 6 months of getting the card, you receive an offer of a $300 statement credit. This card can save money with all this extra value!
Pros & Cons (Blue Cash Preferred® Card from American Express)
The Blue Cash Preferred® Card from American Express is a great option for those looking to earn cash back on their gas purchases. But just like any other card, it has its own pros and cons which I’ve outlined in the table below.
| Pros | Cons |
|---|---|
| Generous cash back program. The card offers 3% cash back on gas purchases, and up to 6% cash back on select supermarkets and streaming subscriptions. | Annual fee. There’s an annual fee of $95. |
| Great welcome offer. There’s a welcome offer of a $250 statement credit after spending $1,000 in purchases within the first 3 months of account opening. | Limited categories for higher rewards. The 6% cash back only applies to select U.S. supermarkets and select streaming subscriptions. All other purchases earn just 1% back. |
| Additional benefits. The card offers car rental loss and damage insurance, global assist hotline, and roadside assistance hotline. | Foreign transaction fee. The card has a 2.7% foreign transaction fee on each purchase after conversion to US dollars. |
| Contactless payment. The card has a contactless payment feature for easy and convenient transactions. | Rewards expiration. The Reward Dollars earned can expire if you do not use the card for a period of 12 months. |
Remember, the best credit card for you depends on your specific financial situation and spending habits. It’s important to weigh the pros and cons to make an informed decision.
Best for Rotating Categories: Citi Custom Cash® Card
The Citi Custom Cash® Card tops the chart as one of the best gas credit cards for rotating categories offering flexibility and lucrative rewards. It’s specifically engineered to adapt to your spending patterns, automatically rewarding you with 5% cash back on purchases in your top spend category each billing cycle, up to $500 (then 1%).
How it works is quite straightforward: if you spend most on gas this month, that becomes your highest reward category; reassuringly convenient, especially for those with fluctuating expenditure preferences.
However, do note that there might be a slight learning curve while getting acquainted with its ever-changing reward system.
Features & Description (Citi Custom Cash® Card)
The Citi Custom Cash® Card is a fun card to have. It gives you 5% cash back on things you buy the most each month, like gas. Here’s how it works: first, you use your card to pay for stuff.
After you spend $750 in your first three months, they give you a $200 reward! Plus, there’s more good news – you don’t need to pay an annual fee with this card. People love this because it saves them money at the gas pump and their overall fuel costs go down.
You might also get cash back when buying other things too. Based on all these points, many people think this is the best card for saving money on gas.
Pros & Cons (Citi Custom Cash® Card)
Let’s dive into the pros and cons of the Citi Custom Cash® Card.
| Pros | Cons |
|---|---|
| The Citi Custom Cash® Card offers a robust 5% cash back on eligible purchases in rotating categories, which includes gas. | The 5% cash back is limited to the first $500 spent in your top eligible spend category each billing cycle, then 1%. |
| There’s no annual fee associated with this card, making it a cost-effective choice for budget-conscious consumers. | While there’s an introductory APR of 0% on purchases and balance transfers, a variable APR of 13.99% – 23.99% applies after the first 15 months. |
| Enjoy flexibility in earning rewards with changing categories for 5% cash back. | Since categories rotate, you need to be mindful of your spending habits to maximize rewards. |
| A welcome offer of $200 cash back is a great incentive for new cardholders. | You need to spend $750 within the first three months of account opening to qualify for the welcome offer. |
| For purchases outside of the rotating categories, the card still provides 1% cash back. | There are cards in the market that offer higher than 1% cash back for all other purchases. |
| Citi Custom Cash® Card allows for easy redemption of cash back rewards. | Cash back rewards can only be applied as a statement credit or deposited into a linked Citibank checking account. |
Best for Groceries and Gas Stations: PenFed Platinum Rewards Visa Signature® Card
This PenFed Platinum Rewards Visa Signature® Card is your go-to option if you rack up sizeable grocery and gas station expenses, offering abundant rewards that save considerable cash over time.
Features & Description (PenFed Platinum Rewards Visa Signature® Card)
The PenFed Platinum Rewards Visa Signature® Card is a top pick for gas and food buys. You net five points on each dollar you put down at the pump. Supermarket spending earns three points per buck.
Eating out and paying for TV services also get you three points per dollar.
This card has no annual fee, which makes it great to save money from day one. Plus, if you use it for $1,500 worth of purchases in your first 90 days as a user, they give you back 15,000 bonus points! This sweet early bonus just adds to why this card is one of the best out there to use at gas stations.
Pros & Cons (PenFed Platinum Rewards Visa Signature® Card)
I must say that the PenFed Platinum Rewards Visa Signature® Card offers an impressive array of pros but, like any financial tool, it does come with some cons as well. Here’s a detailed rundown:
| Pros | Cons |
|---|---|
| The card offers a remarkable 5x points per dollar spent on gas purchases. | However, it is important to note that you need to be a member of the Pentagon Federal Credit Union to be eligible for this card. |
| This card is a fantastic option for individuals who frequently spend on groceries as it also provides 3x points per dollar spent on supermarket purchases. | While it offers generous rewards on gas and groceries, the rewards on other purchases are less impressive. |
| The PenFed Platinum Rewards Visa Signature® Card has a welcome offer of 15,000 bonus points after you spend $1,500 in the first 90 days of account opening. | However, the rewards points can only be redeemed through the PenFed rewards program and cannot be transferred to other rewards programs. |
| One of the significant advantages is that this card has no annual fee, which is a big plus for budget-conscious consumers. | Unfortunately, this card’s foreign transaction fee of 1% could be a dealbreaker for frequent international travelers. |
| You can earn points not only on gas purchases but also on other everyday spending categories like restaurants/dining, and cable, satellite, and other television/radio/streaming services. | However, these other categories earn less points (1x points per dollar) compared to gas and grocery purchases. |
I do believe that the PenFed Platinum Rewards Visa Signature® Card is a fantastic option, especially if you frequently spend on gas and groceries.
Best for Dining Out and Gas Stations: PNC Cash Rewards® Visa®
The PNC Cash Rewards® Visa® card stands out as the best for dining and gas station expenses, with a robust rewards system tailor-made for such expenditures. This card’s features include lucrative cash back rates at restaurants and gas stations, making it an excellent fit for foodies and regular drivers.
The highlights of this card are undoubtedly its gains: 4% cash back on fuel purchases and 3% on dining make it a heavy hitter in these categories. Avoiding burdensome annual fees is another golden trait of this credit-friendly powerhouse, which increases your savings over time.
Even better, qualifying PNC account holders can extract more value from their card by maintaining certain account balances; proving that loyalty pays off! However, take note of the capped reward earnings to ensure you’re fully versed in this offering before taking the plunge.
As with any good thing in life – do study all other terms before savoring every bite or mile rewarded to you through your PNC Cash Rewards® Visa® journey.
Features & Description (PNC Cash Rewards® Visa®)
The PNC Cash Rewards Visa Card is a great pick for those who eat out often and fill up gas. This card gives back 4% cash on all the money you spend at gas stations. Use it to pay when dining out, it offers as much as 3% cash back.
The part I love most about this card? It does not ask for an annual fee.
Your first-year costs drop even lower with its 0% entry APR offer for the initial twelve billing cycles on what you buy and balance transfers. You can swap your earned cash rewards in three ways: credit to your statement, putting into a PNC bank account or getting a gift card.
Pros & Cons (PNC Cash Rewards® Visa®)
With a significant return on gas, dining, and grocery purchases, the PNC Cash Rewards® Visa® card is a stellar choice for individuals who spend a lot in these categories. However, like all credit cards, it does come with its own set of advantages and disadvantages.
| Pros | Cons |
|---|---|
| High cash back rewards rate of 4% on gas station purchases. | No introductory APR offer, meaning interest applies immediately on purchases and balance transfers. |
| Earn 3% cash back on dining out, adding to your saving potential. | The high reward rates are capped at $8,000 in combined purchases annually. |
| 2% cash back on grocery store purchases makes everyday shopping rewarding. | Limited cash back redemption options, as you can only redeem as a statement credit or deposit into a PNC bank account. |
| $100 bonus cash rewards after spending $1,000 in the first three statement cycles provides a good starting incentive. | Lower reward rate of 1% on all other purchases. |
| No annual fee makes the card cost-effective. | The card is not widely accepted internationally as it uses the Visa network which may have limited acceptability in some countries. |
In summary, while the PNC Cash Rewards® Visa® card offers an excellent return on gas, dining and grocery purchases, limitations on cash back redemption and a cap on high rewards rate tingles its lustre slightly.
Best for Transferable Points: Citi Premier® Card
The Citi Premier® Card, with its lucrative points system and flexible redemption options, emerges as the best choice for those seeking transferable points. This card’s features include earning 3X points at restaurants, supermarkets, and gas stations, thus ramping up your savings on fuel purchases.
However, it comes with an annual fee of $95 that needs a quite high spending to justify. Keep reading to explore more about this card’s pros such as potential for high earnings in multiple categories and cons including limited travel protections below.
Features & Description (Citi Premier® Card)
The Citi Premier® Card is a great pick for gas and more. You can earn 3X rewards not only on gas station binges but also on travel, dining, and even at supermarkets. There are no limits to these point grabs! It’s easy peasy to transfer the points you earn with this card as well.
I love that it fits my busy life so well! Plus, it is good news for frequent flyers because there’s an additional perk – up to $100 off Global Entry or TSA PreCheck application fee every five years! Even though it has an annual fee of $95, its bonus rewards rule out the cost factor swiftly.
Pros & Cons (Citi Premier® Card)
The Citi Premier® Card has a variety of benefits and drawbacks that potential cardholders should consider.
| Pros | Cons |
|---|---|
| The Citi Premier® Card offers a high rewards rate, particularly for those who spend a lot on travel, gas, dining and groceries. You can earn 3 ThankYou points per dollar spent at restaurants, supermarkets, gas stations, air travel, and hotels. Plus, you can earn 10 points per dollar on hotels, car rentals, and attractions booked on the Citi Travel℠ portal through June 30, 2024. | One potential drawback of the Citi Premier® Card is the $95 annual fee. While the high rewards rate can offset this cost for many people, those who don’t spend heavily in the card’s bonus categories may not earn enough to make it worth it. |
| The card offers a generous sign-up bonus. Cardholders can earn a welcome offer of 60,000 points after spending $4,000 in purchases within the first 3 months of account opening. | The Citi Premier® Card is not the best option for those who don’t travel frequently. While it does offer great rewards for everyday spending, its highest rewards are geared towards travel-related expenses. |
| Another benefit of the Citi Premier® Card is the flexibility it offers when it comes to redeeming points. Points can be used for a variety of rewards including travel, gift cards, merchandise and more. | While the card has a lot of positives, it may not be suitable for those with a lower credit score. It typically requires a good to excellent credit score, which may make it inaccessible for some potential cardholders. |
Overall, the Citi Premier® Card is a strong option for those who spend heavily in its bonus categories and are willing to pay an annual fee for higher rewards.
Can Using Gas Credit Cards Help Me Save Money Fast?
Using gas credit cards is one of the top ways to save money when it comes to fueling up your vehicle. These cards allow you to earn cashback or rewards on your gas purchases, helping you reduce the overall cost. By utilizing gas credit cards wisely, you can accumulate savings quickly and efficiently.
FAQs About Gas Credit Cards
To help clear up further confusion, we’ll address commonly asked questions about gas credit cards, including ways to maximize savings on gas, the impact these cards can have on your credit score, and what requirements exist for obtaining a gas card.
How to save money on gas?
You can save money on gas with smart choices. Use a gas credit card to earn rewards every time you fill your tank. The Wells Fargo Autograph℠ Card is good for this. It gives 3X rewards on gas and more.
This helps cut down the cost of high gas prices. Also, try to drive less and carpool when you can. Keeping your car in top shape helps too! Differences like these help reduce the amount of money you spend on gas.
What is the best credit card for gas?
The best gas credit card for you can change based on your needs. If you want to earn 3X rewards on gas and more, Wells Fargo Autograph℠ Card is a great choice. For up to 5% cash back, think about getting the Citi Custom Cash® Card.
You might like the Discover it® Cash Back or Chase Freedom Flex℠ if you plan your gas fill-ups every quarter.
What about families? The Blue Cash Preferred® Card from American Express helps them save a lot! Plus, it may help those who don’t want to pay an annual fee. That’s because they offer the Blue Cash Everyday® Card with similar benefits but no yearly cost.
Do gas credit cards help you build credit?
Yes, gas credit cards can help you build credit. I need to use the card wisely though. This means paying my full balance each month and making sure I pay on time. By doing this, I show that I’m responsible with money.
This will help me earn a good credit rating over time.
What credit score do I need for a gas card?
You need a good credit score to get a gas card. A good level is 670 or more. This helps you to save on gas and other things too. If your score is less than that, it may be hard for you to get this kind of card.
Conclusion
Finding the best gas credit card can help you save money. They are cards that reward you for your spending on gas and other things too. Use the guide above to pick a card that is good for you.
Good luck with your search!
FAQs
1. What are the best gas credit cards to save money?
The top ones include Blue Cash Everyday® Card from American Express, U.S. Bank Altitude® Connect Visa Signature® Card, and Bank of America® Customized Cash Rewards credit card.
2. How do I earn rewards on my gas credit card?
You can earn points or miles by making purchases at gas stations or electrical vehicle charging stations depending on your merchant category code.
3. What rewards do these gas credit cards offer?
Most offer bonus rewards on gas, travel, dining purchases and more. Some even give statement credits for prepaid hotels and car rentals or an Intro offer like a welcome bonus!
4. Can owners of electric vehicles benefit from these cards too?
Yes! Some cards also reward spending at EV charging stations in addition to regular fuel pumps.
5. Does NerdWallet recommend any other types of savings with using such credit Cards ?
NerdWallet’s team observes that beyond earning reward points there can be extra benefits: things like streaming service purchases discounts and Global Entry/TSA PreCheck application fee credits may also be tied into the package!
6. Are there business options for saving in this area?
For sure- check out options like Ink Business Cash® Credit Card which could lead to more ways to save if you’re managing a lot of transactions!
