Everybody needs to purchase gasoline. It is possible
to get a percentage of that amount back each month with a gas rebate
The way it works...
The main idea behind gas rebate cards is that card holders receive
a percentage of the amount they spend on gas each month back in the
form of a credit applied to their credit card bill. It works similarly
to a cash back credit card with one exception: the gas rebate is applied
each month, whereas most cashback cards send out rebate checks once
a year. This makes the savings easier to see for consumers.
The rebate percentage a card member earns varies from 1 – 6
%, the average is 3 %. Many gas credit cards offer a higher introductory
rate (such as 6 %) which reduces over time to a lower amount. The
best ones also offer features such as online account access and rebates
for the purchase of other goods.
gas rebate card
Most major gas companies offer brand-specific gas
rebate cards, which may only be used at their locations. This
is fine for customers who go to the same gas station all the time,
but can be inconvenient for those who shop around for the best petrol
prices, and can be downright difficult for someone looking for the
right gas station on an empty tank. Recently, however, many credit
cards began offering gas rebate rewards that can be accumulated with
any gas purchase, from any company. Almost all of these cards offer
a gas rebate percentage, as well as a lower rebate percentage for
general purchases. For example, some gas reward cards offer a 3% rebate
on any gas purchases, and 1-2% back on any other purchases made with
the card. These types of credit cards are often more attractive to
the consumer trying to cut down on the number of card accounts.
The rebates are issued at the end of each billing cycle in the form
of a credit to the card owner’s account. Sometimes, the rebate
is delivered as a type of gift card for a specific vendor, gasoline
or otherwise. The person should research the type of rebate given
before applying, to make sure the rebate is appropriate to their needs.
Other things to think about...
Some gas rebate cards have other limits as well. For instance, a
few programs allow a rebate to be earned only through pay-at-the-pump
transactions, and not those at the inside counter. Others limit the
total annual rebate amount ($300 is a normal limit).
Luckily, most gas reward credit cards do not have annual fees. The
consumer should be aware, however, that the interest rates on gas
rebate cards are often higher than a typical credit card. Consumers
who carry a balance from month to month, rather than paying off the
account completely each month, might be interested in other types
of credit cards. Still, especially when prices at the pump are high,
a gas rebate card is an attractive option for many consumers.
Before making any decision that could impact your credit, consult
with your accountant. However, a gas
rebate credit card may be one way to help you maintain a good
credit history and provide you with the buying power that you need.