Paying for petrol is a pain for everyone. With these credit cards, you may get a little something extra for your money. How quickly gas costs pile up depends on whether you have a long commute or often travel by car. When petrol prices were at $2.50 a gallon in 2017, the average American spent roughly $2,000 a year on gas.
This is a lot of money to spend without getting anything in return, in our opinion. As a result, we’ve put up a list of the best credit cards for road trippers and commuting warriors to help you plan your next trip. These gas reward cards (which include both travel and cash back credit cards) may be perfect for you and how you may earn the most points or cash out of your regular fill-up.
How to choose a gas rewards card
In reality, the true worth of credit card points is anything but clear, especially since each card calculates them somewhat differently and often has extra conditions that limit when and how you may earn them. Before you sign up for a credit card, you’ll want to be sure you understand exactly how the points on your card will be used. Streaming subscriptions, online shopping, and other routine expenses that you might be making, such as coffee, can all be used to boost your earnings on petrol.
When redeeming for vacation or retail, many credit cards treat each point as one cent. Your new card’s redemption procedure, as well as other factors like welcome incentives, yearly fees, membership requirements, and whether you must join a credit union to obtain it, should all be taken into account along with the worth of the points and the method by which you’ll earn them.
Another thing to keep in mind is that some cards have a cap on the number of points you may earn or a welcome bonus that only lasts for a short period of time before returning to a more typical rate of rewards. You should think about all of these aspects and how they relate to your objectives and spending patterns before signing up for any credit card.
But first, let’s look at what you came here for the top petrol rewards credit cards.
Cards with rotating gas categories
Many more credit cards provide rotating cash back categories, including petrol rewards, in addition to the ones listed above. The Chase Freedom Flex and the Visa Platinum Card from Fort Knox Federal Credit Union are two such cards.
As a member of the Chase Freedom Flex card, you’ll earn 5 percent on rotating quarterly categories (up to $1,500 spent) and travel bought through the Chase Ultimate Rewards site; 3 percent in restaurants (including takeout and delivery), as well as drugstores; and 1 percent on other transactions. In 2020, one-quarter of the award categories included “gas stations.”
There is now a gas-friendly category on the Fort Knox Federal Credit Union Visa Platinum Card, which gives limitless 5% cashback on all petrol transactions with no annual fee. If you’re not willing to spend $5 to join the American Consumer Council / Kentucky, don’t be fooled by the name on the application.
If you’re willing to keep track of when to utilize them, rotating bonus category cards may be a terrific asset. Spending money on petrol is a great way to rack up rewards points, so think about using two different reward cards: one of these rotating category cards that let you rack up seasonal rewards, and another that lets you rack up year-round rewards.
Best business cards for companies buying gas
A small company owner may make a major difference in their bottom line by collecting reward dollars from their credit card transactions over a short period of time. Ink Business Cash Credit Card, which offers 5 percent cash back at office supply stores and internet, cable, or phone services (up to $25,000 combined annually), 2 percent cash back at gas stations and restaurants (up to $25,000 annually), and 1 percent cash back on everything else, and the CitiBusiness / AAdvantage Platinum Select Mastercard, which offers unlimited cash back at gas stations and restaurants.
What is the best gas credit card?
Even within a specialized category like gas credit cards, there is no credit card that is the ideal match for everyone. To make things even better, each of our top-tier credit cards may also provide additional bonuses to make your everyday use even more lucrative.
That said, the PenFed Platinum Rewards Visa Signature Card offers the greatest petrol rewards rate. Consider the American Express Blue Cash Preferred Card if you’re looking for great rewards on both groceries and petrol. Consider the pros and disadvantages of each choice before making a final decision.
Are gas station credit cards worth it?
For example, Shell and ExxonMobil both provide credit cards that can only be used at their own chain of petrol stations, just like a retail credit card would. Many of these cards will provide you savings when you fill up, rather than cashback. However, the predetermined discount (say, 10 cents per gallon) implies that your cashback rate as a percentage will change with gas costs and decrease as fuel prices rise. If you want to save the most money, you need to perform the arithmetic and compare these cards to other credit cards.
What is the best credit card for groceries and gas?
Once again, it’s crucial to look at a variety of cards before making a final decision. But the Blue Cash Preferred Card from American Express, the Blue Cash Everyday® Card from American Express, and the Citi Double Cash Card are some of the finest credit cards for both groceries and gas.
Personal financial objectives may be achieved by using the correct credit card to meet your needs. While you’re looking for the finest rewards credit cards, bear in mind that not all points and miles are equal. By using their unique travel portal (like the Citi Premier Card) or by pooling points, Chase Ultimate Rewards users may get more value out of their rewards than other cardholders.
However, if you buy petrol on a regular basis, you may be earning more points than you are today on those transactions. You can choose a new card that keeps it simple or squeeze every last bit of value out of a card that allows you to maximize on quarterly categories. Remember that you’ll likely get the biggest gas rewards if you use numerous cards rather than just one.