What Are the Best Credit Cards for Gas?
Best Credit Cards for Gas: A Comprehensive Guide
Gas prices have been on the rise in recent years, making it harder for drivers to afford their daily commute. Fortunately, there are credit cards that offer rewards and benefits specifically tailored to help you save money on gas. In this article, we'll discuss the bestcredit cards for gasand what you need to know before applying for one.
1. Discover it® Cash Back Card
The Discover it® Cash Back Card is a great option for those who frequently purchase gas. This card offers 5% cash back on rotating categories, which includes gas stations for one quarter of the year. Additionally, the card offers 1% cash back on all other purchases. There is no annual fee and the card offers a 0% intro APR on purchases and balance transfers for the first 14 months.
2. Chase Freedom Flex℠
The Chase Freedom Flex℠ is another cash back credit card that offers rewards on gas purchases. Cardholders can earn 5% cash back on up to $1,500 in combined purchases in quarterly rotating categories, including gas stations. The card also offers 1% cash back on all other purchases. There is no annual fee and the card offers a 0% intro APR on purchases and balance transfers for the first 15 months.
3. Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card from American Express is a great option for those who frequently purchase gas and groceries. The card offers 6% cash back on up to $6,000 in purchases at U.S. supermarkets per year and 3% cash back on purchases at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). The card also offers 1% cash back on all other purchases. There is a $95 annual fee, but the rewards can easily offset this cost.
4. Bank of America® Cash Rewards Credit Card
The Bank of America® Cash Rewards Credit Card offers 3% cash back on gas purchases, as well as 2% cash back at grocery stores and wholesale clubs. Cardholders also earn 1% cash back on all other purchases. There is no annual fee and the card offers a $200 cash rewards bonus after spending $1,000 in the first 90 days of account opening.
Tips for Applying for a Gas Credit Card
Before applying for a gas credit card, there are a few things you should consider. First, make sure you have good credit. Most gas credit cards require acredit scoreof at least 670. Additionally, be sure to read the fine print and understand the rewards structure,annual fees, andinterest rates. Finally, don't apply for multiple credit cards at once, as this can negatively impact your credit score.
Credit Card Savings Strategies
In addition to using a gas credit card, there are other strategies you can use to save money on gas. One option is to use a gas price comparison app to find the cheapest gas in your area. Additionally, consider carpooling or using public transportation to reduce your gas consumption. Finally, be sure to keep your car well-maintained, as a poorly maintained car can lead to decreased fuel efficiency.
Annual Fees and Risk Avoidance
While most gas credit cards offer rewards and benefits, they also often come with annual fees. Be sure to weigh the cost of the annual fee against the potential rewards before applying for a card. Additionally, be sure to make your payments on time and in full each month to avoid interest charges and late fees.
Credit Card Company Recommendations
When it comes to credit card companies, there are many options to choose from. Some of the top companies include American Express, Chase, and Discover. Be sure to research the different companies and their offerings before choosing a credit card.
In conclusion, a gas credit card can be a great way to save money on gas purchases. However, it's important to understand the rewards structure, annual fees, and interest rates before applying for a card. Additionally, be sure to implement other money-saving strategies, such as using gas price comparison apps and maintaining your car. By taking these steps, you can save money and make the most of your gas credit card.