Gas credit cards offer rewards and discounts on gas spending. With these reward cards, people will earn points when people spend at the gas station. What are its benefits?
In the previous post, Info Credit Free introduces people to some of the necessary information that is useful for getting zero interest credit cards in the US, to get more information people can read the article Ten best zero interest credit cards for you choose in the US. Now, let find knowledge about the gas credit cards in the post today.
GAS CREDIT CARDS
Just like a lot of article posts such as interest-free credit card, unsecured credit cards for bad credit, credit cards with no annual fee, online credit card payment…, this post about gas credit cards also includes some main parts. They are:
1. What are the gas credit cards?
Gas credit cards offer rewards and discounts on gas spending. With gas reward card, you will earn points when you spend at the gas station. These points can be exchanged for cash or other rewards, such as travel or merchandise.
Gas station discount cards earn refund based on the amount of gasoline you buy from a particular brand. Gas reward cards are more popular and often more profitable than gas station discount cards. They earn rewards from more gas stations than from a specific brand and provide higher income and overall value.
Cardholders of both reward stations and discount cards need to pay their balance each month to receive any value from them.
2. Some benefits and drawback of the gas credit cards
2.1. The benefits of the gas credit cards
Discounts: One of the biggest benefits of using a gas credit card is the discount. Many of these programs give you a certain percentage when buying gasoline. For example, you can get 5% cash back for all gas purchases at a specific retailer.
Gas is something that almost everyone has to buy. When you can get 5% of what others are paying, this can be a great advantage in your monthly budget.
Rewards: In addition to providing cash back, many gas credit cards also offer rewards programs. For every dollar you spend with a card, you’ll get a certain number of points that you can use to buy items.
These bonus points can be used for travel, goods or leisure items. It usually takes time to accumulate these points, but when you have enough rewards, it will be a great reward.
Convenience: Convenient: When you have a credit card, it is extremely convenient. You just need to pull up your favorite gas station, pay at the pump and go on. Then, at the end of the month, you get a gas bill and you send them a payment. Basically, you are making a monthly transaction for gas instead of a few smaller transactions.
Gas is something that nearly everyone has to buy anyway. When you can get 5% off of what everyone else is paying, this can be a major advantage in your monthly budget.
2.2. The drawback of the gas credit cards
Interest charges: One of the biggest drawbacks when using a gas credit card is the interest charged on the card if you do not pay your balance. When you accumulate the balance on the card and decide not to pay the entire bill each month, you will be charged interest on the balance.
The interest rate they charge is very high and will result in you returning the savings you have accumulated using the card in the first place.
Budgeting problems: Another problem with using a credit card is that it can make it difficult to set up your monthly budget. When you buy gasoline without a credit card, you will know exactly how much you spent when it came out of your account right away. When you use a debit card, it’s easy to track expenses with your online bank account.
When you use a gas credit card to buy gas, it is easy to lose track of the money you have spent. It will ask you to log in to your credit card account regularly to see how much you spent. After that, you must save that money to pay the bill at the end of the month. This has caused many people to overspend and not recognize it until it is too.
3. The best gas credit cards in the US
- Bank of America® Cash Rewards credit card is the best for cash back on gas or another qualifying category.
- Discover it® chrome is the best for 2 percent cash back at U.S. gas stations.
- Ink Business Cash℠ Credit Card is the best for business gas rewards with 2 percent back at gas stations.
- Citi Rewards+℠ Card is the best for two points per dollar spent at gas stations.
- Citi Premier℠ Card is the best for three points per dollar on travel, including gas stations.
- Blue Cash Everyday® Card from American Express is the best for 2 percent cash back at U.S. gas stations.
- U.S. Bank Business Cash Rewards World Elite™ MasterCard® is the best for 3 percent cash back at gas stations.
- Bank of America® Business Advantage Cash Rewards Mastercard® credit card is the best for business gas rewards with 3 percent back at gas stations.
- Wells Fargo Rewards Card is the best for five points per dollar spent on gas for the first six months.
- Amex EveryDay® Preferred Credit Card is the best for two points per dollar at U.S. gas stations.
This post is about gas credit cards. We provide this information to offer you some of the necessary information that is useful for getting the gas credit cards. Also if you are looking for information about the online credit card payment fee, please refer to Some tips for lowering the online credit card payment fee link we just provided in the previous article.
Hillary (Team Content) – Info Credit Free