“How do I find the best gas credit card for me?”

Students who commute to college, road warriors, RVers and the family chauffeur with kids in every sport imaginable all have one thing in common. They fill up their tanks a lot.

Gas credit cards can be a great option for people who spend a lot of time driving or who are planning any major cross-country road trip. 

With gas prices taking a roller coaster ride these days, gas credit cards have became very popular among consumers. Cardholders can earn rewards on a percentage they spend on gasoline and at gas stations each month.  These rewards may be earned each month in the form of cash back, points, or credits.

Which gas credit card is the best for you?

There are two types of credit cards that offer gas rewards: gas station-affiliated credit cards and credit cards issued by a credit card company that offers rewards on gas purchases. The best gas credit card for you depends on both your geographic location and spending habits.

• Station-affiliated gas credit cards offer competitive rewards, but you can only save on gas that you purchase at affiliated stations.  This type of gas credit card is a good fit if you only buy gas from a particular gas station or if you could easily start going to one particular station without significantly changing your gas consumption habits.

• A gas credit card from a credit card company offers rewards on gas purchases at any station, not just certain ones. This can be more convenient for you, and also allow you to find the best deal, no matter what pump you’re at.

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Things to consider when choosing a gas rewards card:

• What are the rewards levels? Are there introductory rewards levels that taper off—for instance, do you get 10¢ back per gallon for the first 90 days and 3¢ back after that. (If so, consider getting your card right before a major road trip to get the most rewards during the time you’ll be traveling the most.)

• Can you also earn rewards on purchases at stores, restaurants, grocery stores, pharmacies, etc?

• Is there an annual fee?

• What are the spending levels and caps (read the terms and conditions or call customer service if you need help understanding the details)

• Is there a low or 0% introductory APR on purchases and balance transfers—and a low interest rate after the intro APR period expires?

Look for pumped-up benefits

When picking a gas credit card, check for any bonuses and extra benefits so that you can take full advantage of additional savings.  

For example: One great benefit offered by some gas rewards cards is secondary rental car collision coverage. With this coverage, when you use your gas credit card to rent a car and decline the Loss/Damage Waiver offered by the vehicle rental agency, you are protected by this policy in case you get into an accident.

A gas rewards card should suit your lifestyle and needs. If you only fill up at the same gas station, you might prefer a branded gas card that gives you rewards at that gas station chain. If you want rewards at all types of gas stations and on other purchases, you might consider a gas rewards card that rewards you in several different ways. No matter what card you choose—be sure to read all the card terms and conditions.

Discover card believes that consumers should be armed with the information they need to help them make informed credit decisions.

Legal Disclaimer: The articles and information provided herein are for informational purposes only and are not intended as a substitute for professional advice.

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