Gas credit cards are some of the best reward credit cards available to consumers. Issued by gas stations, gas credit cards are usually branded with the name of the gas station for use at the gas station and for other necessary products and services.
Recently, the tide has shifted with gas credit cards. Previously, gas credit cards were only issued by gas stations, but today you can find them without a gas station branding. While the market closes in, the opportunities to get more rewards for your gas dollars continues to grow. Most people will find that there are three to four gas credit cards for their specific needs.
Looking for Gas Credit Cards
In general, the best rewards for gas purchases are found on cards with specialty offers. The Chase Freedom card, for example, is not necessarily a gas credit card, however those who sign up for it receive 5% cash back on all their gas station purchases for the life of the account. Penfed is another company with a gas credit card; its rewards cash visa credit card has offers for up to 5% cash back. Both cards also offer rebates for dollars spent on other items and at other stores of up to 2% on groceries and 1% on all other purchases.
Gas Station Branded Cards
Besides the two leaders in the non-gas credit card space, here are a few offers from some of the largest networks of gas stations.
BP Visa – The BP Visa entitles you to a 5% rebate on all gasoline purchased at both BP and Amoco gas stations, 2% back on travel and dining, and 1% for purchases that do not fall into the two special categories. The online redemption center allows you to exchange your accumulated earnings for cash in the form of a statement credit, or a BP gift card.
Casey’s MasterCard – The Casey’s branded card offers 3% back for all purchases made at Casey’s gas stations and convenience stores, as well as 1% elsewhere. With one of the lowest rates of all the gas cards at just over 11% annually, this makes for a great card for those who do intend to carry a balance.
Chevron Visa – The Chevron Visa provides for a 10-cent per gallon rebate on gas purchases at Chevron and Texaco gas stations. Also, those who use the card can opt for 3% credits for times when the 3% is greater than the 10-cent discount (gas prices have to be higher than $3.33 for this option to make sense.) All other purchases allow for a 1% rebate, which can be spent on fuel at any Chevron gas station.
Citgo MasterCard – Citgo offers a 4% cash back deal on all purchases at Citgo stations, and 1% on all other purchases. This is one of the best gasoline cards on the market from an individual gas station.
ExxonMobil MasterCard – The ExxonMobil gas credit card gives customers a credit of 15 cents for each gallon of gas purchased at an Exxon station. Additionally, the card provides for rebates of up to 2% on all other purchases, however, categories do change over time. Rewards are never less than 1% of the transaction amount.
Marathon MasterCard – Marathon, which is one of the least expensive stations listed in this lineup, offers a 3% cashback deal for all purchases made at Marathon gas stations. Know that this 3% discount may go further than larger discounts at other stations because Marathon is known for less expensive gasoline compared to BP, Shell, Exxon, and other larger stations.
Shell MasterCard – Shell offers 5% cash back on its Shell gas credit card. This station has the most popular gasoline credit card in the country, and is most likely to issue corporate cards for fleets or for employee use.
Sunoco MasterCard – Perhaps the least generous of any credit card, the Sunoco MasterCard gives its users a 10 point credit through Citi’s ThankYou service per gallon of gasoline, and 1 point for all other purchases. Unfortunately, the ThankYou service from Citi does not allow for cash redemption, and charges shipping and handling for rewards to customer accounts.
What to Expect in Gas Credit Cards
There are a few commonalities among gas credit cards:
Low credit lines – Cards issued by gas stations are more likely to have a lower than average credit line, as the gas station would prefer you use the card mostly for their gasoline. In general, expect lines ranging from $500 to $1000, whereas other card issues will give lines of up to $10,000 for general purpose rewards cards.
No annual fees – Gasoline credit cards are great in that they rarely have annual fees. Gas credit card users tend to be better than average at spotting a winning rewards card, and are more likely to shop around for the best rewards. Credit card companies have a hard time justifying an annual fee to this crew.
Mastercard and Visa – Primarily, gas credit cards are Visa and MasterCard branded. Only a handful of Discover and American Express gas credit cards exist. In general, Visa and MasterCard are accepted in more places than Discover and American Express.