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
Discover it® – While not strictly a gas rewards card, the new Discover it® card is one of the best cash back credit cards, and is flexible for a variety of spending needs. This card features 5% cash back in rotating categories that change each quarter. For example, cardholders can earn 5% cash back on up to $1,500 in Restaurant and Movie purchases from January through March 2014 with free and easy sign-up. And 1% cash back on all other purchases.* There is No annual fee. No overlimit fee. No foreign transaction fee. Pay up to midnight ET online or by phone on your due date without a fee. Plus, paying late won’t raise your APR.* Plus, free FICO® Credit Score on your monthly statement to help you stay on top of your credit.* There are several other benefits as well. *Click “Apply” to see rates, rewards, and free FICO® Credit Score terms and other information. Apply Now.
Citi® Dividend Platinum Select® Visa® Card. This card offers cardholders the opportunity to earn 5% cash back every quarter in must-have categories. Right now, on purchases at Macy’s, drug stores, and fitness clubs from 1/1/14 – 3/31/14. It’s easy to enroll each quarter. Cardholders can also earn 1% cash back on all other purchases. You may earn a total of up to $300 per calendar year. This card features a 0% Intro APR on Purchases and Balance Transfers for 12 months. After that, the APR will be 12.99%-22.99% variable based on your creditworthiness* You can also earn $100 cash back after $500 in purchases within the first 3 months of account opening. The Citi Dividend Platinum Select Visa Card carries No Annual Fee*. Click Apply Now to see pricing details.
The Blue Cash Preferred® Card from American Express our choice for the top gas rewards credit card. It offers a simple rewards program – Earn Cash Back: 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. To top it off, you can also get 100 Reward Dollars, redeemable for a $100 statement credit, after you make $1,000 in purchases with your new Card in the first three months. Plus, get one year of Amazon Prime after you sign up for a new membership with your Card and meet the spending requirement in the same time period. As an Amazon Prime member, you get unlimited Free Two-Day Shipping on millions of items. This card features a 0% intro APR on purchases and balance transfers for 15 months, then a variable rate, currently 12.99% to 21.99%, based on your creditworthiness and other factors. There is a $75 annual fee, which you can easily earn back through regular use. 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 the ability to Earn Cash Back: 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. Right now, new cardmembers can get 50 Reward Dollars, redeemable for a $50 statement credit, after you make $1,000 in purchases with your new Card in the first three months. Plus, get one year of Amazon Prime after you sign up for a new membership with your Card and meet the spending requirement in the same time period. As an Amazon Prime member, you get unlimited Free Two-Day Shipping on millions of items. Finally, there is a 0% intro APR on purchases and balance transfers for 15 months, then a variable rate, currently 12.99% to 21.99%, based on your creditworthiness and other factors. Terms and Restrictions Apply. Click to open and account or learn more: Blue Cash Everyday® Card from American Express.
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.
* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the “Apply Now” button, you can review the credit card terms and conditions on the issuer’s website.
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