5 Tips for Finding the Best Gas Reward Cards

Gas reward cards are a terrific tool for beginning to develop a credit history. Unfortunately, many people stop using them once they’ve established that history and received offers for more traditional credit cards. One of the most common reasons for switching from gas cards to credit cards is that the credit cards offer better terms and benefits than are available with the gas cards. However, there are gas reward cards available to savvy consumers who know how to find them.

Here are five things to keep in mind when trying to find the best gas reward cards:

1. Credit card companies make gas rewards cards. Better terms and benefits are available through companies such as Visa, Discover or CitiBank than through gas stations such as Chevron or Texaco. Plus you can use them at all gas stations, not one.

2. The interest rate matters. Many people assume that the interest rate on all gas rewards cards is high. This isn’t true. The smart consumer is going to seek out the gas rewards card that has the highest interest rate. There’s no point in getting cash back if it all goes towards the interest on your credit card bill anyway!

3. An annual fee is not a requirement. Cards should be compared until one is found that isn’t going to charge an annual fee for its use.

4. Gas rewards should be compared. Some people want cash back to put towards their gas card bill. Others want gift cards to their favorite gas stations. Different cards serve the needs of different spenders.

5.  Gas rewards cards can give other rewards as well. There are some gas rewards cards which only give you points or cash back for buying gas. Then there are the ones that also give you benefits for spending done at grocery stores and restaurants. These cards are especially good for people who want to carry around only one card at a time. Note that the rate of “cash back” will be higher on gas purchases than on other purchases which is why it’s called a gas rewards card.

Anyone who has a car knows that gas is getting more and more expensive. Although some people are making the switch towards public transportation or walking to work, most people choose to continue driving. The smart ones are using gas rewards cards to get something back for the money that they put in to their cars.