Is a Gas Credit Card Worth It?
by: Tom Tessin

Today’s gas prices are pretty high and they continue to rise what seems like every week.  In order to save on gas, people try to find many alternate ways to save on gas.  In order to save on gas, people will start a car pool to signing up for a gas credit card.  When it’s time to research gas credit cards, people start to become a little confused with the terms and conditions leading them to the question, “Is a Gas Credit Card really worth it?”

The intro period

Just about every credit card offers an introductory period.  Whether it’s a gas credit card or a regular credit card, you’ll find that a lot of the credit cards’ offer pretty good introductory rates.  For example, if you take the BP gas station credit card, it offers a 10% rebate on gas for the first 60 days.  After the 60 days, they offer 5% which is still a great deal.  The point of this is to make sure that the introductory rate isn’t some rate that is out of this world.

If you do come to find out that the intro rate is out of this world, it would probably be best to apply for a cash back credit card that not only offers you rebates on gasoline but rebates on drug store, grocery store, and auto maintenance purchases.

Read the terms

Before you apply for a gas credit card, it’s important that you read the terms and condition on the application.  Sometimes you may find out that you need to spend X amount to save a certain percentage.  Let’s take the American Express card for example; you may need to spend about $6,000 just to save 1%.  In order to save the 5% cash back bonus, you will need to spend a lot more than the $6,000.

Depending on the credit card company, you’re going to have to look closely on how you get your rebates.  A lot of the times you will realize that the credit card companies don’t instantly put the rebates back into your account.  Instead, you’re going to have to request these rebates.  After you request the rebates, you will either get it in check form or that amount will be discounted from the total bill.

Gas station location

If you’re applying for a gas credit card that is focuses solely on one credit card like the BP visa credit card, make sure that these types of gas stations are near your home.  If you apply and come to find out that these gas stations aren’t near your home, you pretty much applied for a credit card that you can’t use.  A simple way to see if that particular gas station is near your home is simply go to Google maps and type in your address and locate a gas station near your address.

In the long run, you’re definitely going to save more money on gas with gas station credit cards.  These are just a few tips that you should follow before you do apply for a credit card.  If you research your card and make sure that there are gas stations of the particular card near you, you shouldn’t have a problem saving money on gas.