Whether you commute to work, spend your day chauffeuring kids to various activities, or love to get out on the highway for road trips, fuel expenses can add up. Why not get rewarded handsomely for weekly trips to the fuel pump.
The best gas credit cards can put cash back in your pocket or earn rewards you can redeem for free travel. If you're ready to save money and earn rewards for gas purchases, this guide will help you choose the best gas credit card for you.
What to Look for in a Gas Credit Card
Most rewards credit cards will earn points or cash back for gas purchases. But some credit cards put a premium on gas purchases with higher rewards rates and other perks.
So if you are looking specifically to earn rewards on your gas purchases here are some factors to consider when choosing a gas credit card.
Rewards Rate for Gas Purchases
One of the first things to look for when picking a gas credit card is the rewards rate earned on gas purchases. Almost all rewards cards earn at least one point or 1% cashback on gas purchases, but the best cards offer much higher rates.
It's great to earn high rates at the fuel pump, but it's also about how you can use your rewards.
Look for a credit card that allows you to use your points the way you want, whether that's getting cash back, booking free travel, or transferring them to partner loyalty programs.
Spending Caps and Restrictions
Pay close attention to the fine print when looking at rewards rates. Some gas credit cards place caps on how much spending is rewarded each quarter or annually. Other cards combine gas with other spending categories that are capped.
Where you fuel up matters too with some cards. Most cards exclude gas purchases made at
gas stations attached to supermarkets or wholesale clubs, like Costco and Bjs.
Paying an annual fee can cut into your rewards balance. Be sure to weigh the fee versus what the card offers in rewards and other perks.
There's nothing wrong with paying an annual fee if the credit card offers value that exceeds the cost of the fee.
What is the Difference Between a Gas Card and a Gas Credit Card
There are two types of gas credit cards. Our list focuses specifically on credit cards that reward you for fuel purchases. There are also gas station cards, which are co-branded credit cards offered by gas companies like Shell, Marathon, and Exxon.
Gas station credit cards also reward you for gas purchases, but typically with a gallon-based discount each time you fuel up. Depending on the card, the amount is deducted directly at the pump or received later as a statement credit.
The ExxonMobil Smart Card, for example, saves cardholders six cents per gallon of fuel purchases. The discount is applied instantly at the pump. The card also comes with a signup bonus of 30 cents off per gallon for the first two months -- six cents off at the pump and another 24 cents in the form of a statement credit.
The better option between a gas station credit card and a gas credit card depends on what they offer in terms of rewards or discounts.
Most families spend a significant amount of money on gas. Why not get some rewards for the money you spend at the pump?
A good gas credit card can save you hundreds of dollars each year at the pump or provide free flights and accommodations on your next adventure.