Best Gas Reward Credit Card

The use of credit cards is now as common as the use of money. For some, it is another form of currency, as they utilize it for almost every purchase. Credit card companies, on the other hand, are continuously competing against each other to attract clients and entice the buying public to use their cards. Nowadays, we see various rewards being offered for cardholders.

Credit card companies have taken advantage of the high fuel prices and the fact that gas, like groceries, is one of the items that consumers buy most. They are aware that consumers would welcome being rewarded for a commodity they use frequently; hence, the inception of gas rewards cards.

There are several types of gas rewards cards available in the market today, presenting the potential client an assortment of bonuses and perks. As the name suggests, all of them offer rebates for gas purchases, ranging from 3-5% of the purchase amount, in addition to discounts on restaurants and groceries and travel-related costs, to name a few. Earned refunds can be redeemed when they reach a certain amount and cardholders can opt to be paid by check, gift vouchers or have the amounts credited back to their accounts for future purchases.

In choosing a gas reward card, it is useful to consider a few things. One should take a look at the rewards offered and assess if they are really beneficial. For instance, rewards for gas stations, shops and restaurants which a client doesn’t patronize will be of little worth. This is the reason why rebates and cashbacks are more attractive to customers because cash is something everybody can make use of.

Another aspect to think about is the annual fees, interest rates and other charges associated with owning the card. If these cost more than the rewards, the cardholder will be in a losing position in the long run. Moreover, if rewards are limited to a maximum amount spent, the benefits to be gained are likewise limited. For instance, if rewards are given for up to a $50 gas purchase only and the cardholder buys fuel worth $80, there is no reward for the extra $30. A good reward card should not stop rewarding if a user continues to spend. Conversely, the minimum spending limit should be evaluated as well. There are cards that do not start accumulating rewards until purchases reach a certain amount. This lessens the reward that the customer can avail of and encourages him to spend more in order to be eligible for benefits.

Additionally, one should also pay attention to the expiration date. If the period of reward availability is too short, chances of using the card and earning from it are lessened. The duration does not have to be unending but the cardholder needs to be given time to capitalize on what is offered.

Lastly, the options for redemption have to be regarded as well. Some rewards require redemptions to be on certain dates only. These restrictions keep the user from enjoying the benefits of the card fully.

Using a gas credit card is an effective means to save on fuel expenses, as long as it is utilized wisely.

Filed Under: General


RSSComments (0)

Trackback URL

Leave a Reply

You must be logged in to post a comment.