In general, rewards credit cards offer points or cash-back on spending categories like grocery, pharmacy, entertainment, etc.) However, a gas rewards credit card earns points on every day purchases while maximizing specifically on fuel purchases as well. In general, gas credit cards can be used at almost any retailer where the credit card is accepted.
So if you’re a frequent driver or you take a lot of road trips with the family, it’s a good way to capitalize on those trips to the pump.
Usually gas reward cards offer a higher rate of rewards for gas purchasers. If you’re a frequent driver that tends to spend quite a bit of money on gas every month, a gas rewards card could help you earn cash back. Whenever you fill up your car at a gas retailer, you can collect points (usually a few points per dollar spent) to use towards rewards or get cash back (typically 1-4%) on the total litres purchased. Some of the best gas reward cards even give you points or cash back on purchases of other monthly essentials, such as for groceries, dining out, and drug store purchases.
Probably, as long as you’re earning enough rewards to offset the fee. The fee is put in place every year so you can remain a cardholder while still enjoying the perks of the card. Most credit card annual fees range from $99.00 up to $139.00 or more. But some cards have no annual fee. Always do your research to find which card is best for you.
Yes! In fact, a gas credit card is just another way of earning rewards on a credit card and most people will use their card for more than just buying gas.
But since a lot of people purchase gas on a regular basis, it can be used to build healthy credit, so long as you can keep up with monthly payments. But if you fall behind on payments, only pay the minimum month-to-month, or go over your credit limit, your credit score will take a hit.
The best way to build a credit score is to use your credit card responsibly by using and paying off your credit card every month.
The percent back on gas purchases vary with each card, ranging from 1% up to 4%.
There are plenty of credit cards that offer a variety of rewards. We suggest using the credit card guide to help find your best options.
We’ll compare your spending across gas and other essential categories, such as groceries and bills, to show you card that will give you the most rewards.