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Breaking Down The Best Gas Credit Cards For 2015

By On July 5, 2015 Under Uncategorized

Searching for the best gas and auto rewards credit cards in 2015? We reached out to David Gleason with the consumer finance portal at 2015 best credit cards to get some tips on finding the right cards in 2015 for maximizing auto and gas rewards points. With gas as expensive as it is today due to global supply and demand many credit card users are turning to gas rewards credit cards. These credit cards give you cash back when you purchase gas on your credit card, which helps to reduce the pain at the pump. These cards come either co-branded from a particular gas station or through a bank.

When selecting the right gas rewards card, you should focus on applying for the card that offers you the maximum value back. You want to aim for the maximum possible savings, remember every penny you get back reduces the cost of gas at the pump. Think of it as a rebate since you will get the cash back one billing cycle later. some gas stations offer these cards, but often times it is banks that offer the best returns as far as rewards go, also you often get additional perks with a bank backed gas rewards card. My best advice here when it comes to comparing gas rewards cards is to try and calculate the rewards based on how much you drive per year against what the credit card offers reward wise. If you do opt for a retailer backed gas rewards card, make sure that gas station has the best possible prices in the area. You should also take into account if the card comes with an annual fee or not, any annual fee will reduce the cards value to you.

Gas reward credit cards can offer you some tremendous savings annually on gasoline, yer there are a few things you need to take into account when selecting the right gas rewards card for you. If you opt for a retailer backed gas rewards card, that retailer might not offer the best prices in town. Gas rewards cards that are retailer based only work at that particular gas station chain. Generic bank backed gas rewards cards often give you the most freedom, the most perks and the highest value. Paying a higher price to earn rewards is rather pointless. You also need to pay attention to the fine print, for instance some cards only offer rewards for a limited amount of gallons per fill up, while other cards may have minimum purchase amounts per month before any rewards kick in.

Since these cards offer very little in the way of sign up bonuses you should probably only apply for and use one gas rewards credit card. Since you can simply pick out a favorite gas station there is no real need for multiple gas rewards cards, unlike airline or hotel reward cards where you might use multiple hotel chains or airlines. For these reasons you should stick to just one gas rewards credit card.

Here are some gas rewards cards that are bank issued:

U.S. Bank FlexPerks® Travel Rewards American Express® Card

This card offers 2x the rewards for not only gas but also airlines and grocery, so this card offers maximum value to you. it also offers double rewards on restaurants and cell phone expenses. it does have a $49 dollar annual fee after the first year. This card is running a nice sign up bonus of 20,000 points, provided that you spend $3,500 in Net Purchases within four months of opening the account.

Credit One Bank® Credit Card with Gas Rewards
This is the gas rewards card aimed at people with poor to bad credit. While it has an annual fee between $35 and $99 it is a credit card offered to people who many times could not obtain a credit card, and it does offer rewards when used at the pump. The interest rate varies between 17.9% – 23.90%. There is one card they offer with no annual fee provided that your credit rating is fair or higher.

Discover it® Chrome
This card requires excellent credit, and offers 2% cash back at gas stations & restaurants, and 1% everywhere else. Your interest rate will range between 10.99% to 22.99% depending on your credit score. Unlike many cards you can redeem your cash back at any time you want, with no restrictions on the amount. Also a big bonus with this card is that they will double your cash back at the end of the your first year which can really help you to maximize the value on this credit card.

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