Gas rebate cards

Gas Rebate Credit Cards Information


"Gas rebate credit cards can save you money"

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Gas Rebate Cards Information

Everybody needs to purchase gasoline. It is possible to get a percentage of that amount back each month with a gas rebate credit card.

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.

shell gas rebate card

The Shell 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.




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