Rising gas prices are affecting everyone across the country. Even if you don’t drive very often, high fuel costs are causing price increases for food and other commodities. Even though gas prices are affecting many aspects of our economy, anyone can save money on gas if they shop smartly. One of the best ways to do that is with a gas or cash rewards credit card.
Several of these cards will earn you 3-5% cash back on gas purchases. With gas prices approaching $4 per gallon in much of the US, that equals a savings of $0.12-0.20 per gallon, or a couple dollars per fill up. Most of these cards also offer additional cash back on other purchases as well, including grocery stores, restaurants, travel, and more. Using these gas rewards cards can easily save people several hundred dollars per year.
Best Gas Credit Cards
The Blue Cash Preferred® Card from American Express is our choice for the top gas rewards credit card. It offers a simple rewards program: 6% US supermarkets up to $6,000 per year in purchases, 3% US gas stations & select US dept stores, 1% other purchases. Terms and limitations apply. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. That’s it – no rotating categories to worry about and no minimum spending requirements to reach the rewards tiers. To top it off, you can also earn 150 Reward Dollars after you make $1,000 in purchases in the first three months of Cardmembership. There is a $75 annual fee, which you can easily earn back by spending at least $25 per week at your supermarket. Everything after that is icing on the cake. Terms and Restrictions Apply. Click to open and account or learn more: Blue Cash Preferred® Card from American Express.
TrueEarnings® Card from Costco and American Express. The TrueEarnings® Card from Costco and American Express offers 3% Cash back at US gas stations and on gasoline at Costco up to $4,000 per year in purchases, then 1%. It also offers 2% cash back at US restaurants; 2% cash back on eligible travel purchases, including at Costco; 1% cash back on other purchases, including at Costco. Terms and limitations apply; You will receive your cash back annually in the form of a reward coupon. The Two-In-One Card: it’s an American Express® Card and Costco membership card, with no annual fee for Costco members. Terms and restrictions apply.
Blue Cash Everyday® Card from American Express. American Express just made a good thing better. This version makes it easier for low to moderate spenders to enjoy solid rewards. This card offers 3% at US supermarkets, up to $6,000 per year in purchases, 2% at US gas stations & select US dept stores, 1% on other purchases. Terms and limitations apply. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. There is no minimum spending requirement, no enrollment or annual fees, and no rotating rewards categories like you find with some other cards. Right now you can earn 100 Reward Dollars after you make $1,000 in purchases in the first three months of Cardmembership.
Store brand cards and credit unions. There are dozens of store brand cards available that offer cash back or discounts, but I didn’t list those here. Some of them only offer $.05 off per gallon which is just over 1%, and very few of them can be used at locations other than gas stations, and usually don’t offer cash back if they can be used elsewhere. you may also be able to find a great deal with your credit union if you belong to one. Be sure to shop around.
Credit cards are great tools when used correctly. I pay my credit card bill monthly and I enjoy the cash back rewards programs credit cards companies have to offer. Use your cards responsibly, and reap the benefits.
Do you know of any better deals?
Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.