Just when it looked like we might be getting a break on gas prices, they start creeping up again. Here’s the latest on credit cards that will help you save money at the gas pump. And remember, no carrying a balance on these cards. If you do, say goodbye to the rewards.
Not only do you get 3 percent cash back on gas—you get 6 percent at supermarkets, 3 percent at department stores, and 1 percent on all other purchases. Spend $500 in the first 90 days and get a $100 Welcome Bonus, which more than pays for the $75 annual fee for the first year. Even in subsequent years, the unlimited cash back rewards more than pay for the annual fee.
Gas rebate: 3 percent
Annual fee: $75
Variable APR: Zero percent intro rate for 12 months; after that, 17.24, 20.24 or 22.24 percent
If you shop a lot at Costco, this card offers good savings. You get 3 percent cash back on gas at Costco and domestic standalone gas stations. There are some exclusions, including other warehouse clubs, supermarkets and convenience stores. You also get 2 percent on restaurants, 2 percent on travel and 1 percent on everything else. At the end of the year, you get a cash reward coupon that you can redeem at Costco for merchandise or cash.
Gas rebate: 3 percent on the first $3,000; after that, 1 percent
Annual fee: None with a Costco membership
Variable APR: Zero percent intro rate for six months; after that, 15.24 percent
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In any discussion about credit cards and gas rebates, this credit card simply has to be included. You get 5 percent cash back on gas purchases paid at the pump. There is a $50,000 limit, but that ought to last you a while, right? You also get 1 percent cash back on all other purchases.
Gas rebate: 5 percent
Annual fee: None
Variable APR: 13.99 percent
These economic times have been rocky at best for small businesses. Here’s a card that can help you out with some of your business expenses. If your business involves being a road warrior, this card offers you 3 percent cash back on gas purchases. You also get 5 percent cash back on up to $12,000 in wireless services and office supplies, then you get 1 percent cash back.
Note: Business credit cards are not covered by the Credit CARD Act of 2009. So it’s very important you don’t carry a balance and that you read every piece of mail that comes from American Express.
Gas rebate: 3 percent up to $12,000 per year; after that, 1 percent cash back
Annual fee: None
Variable APR: Zero percent intro rate for six, nine or 12 months, depending on your creditworthiness; after that, 13.24 percent, 16.24 percent or 19.24 percent.
At publishing time, the True Earnings Card from Costco and American Express and SimplyCash Business Card from American Express cards are offered on Credit.com product pages and Credit.com may be compensated if our users apply for and ultimately sign up for these cards. However, this relationship does not result in any preferential editorial treatment.
Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
For more of Beverly’s in-depth, expert credit card tips, reviews and roundups, check out:
- Credit Cards for College Travel Expenses
- Credit Cards that Help You Save on Back-to-School Expenses
- Credit Cards That Want to Show You a Good Time
- The Best Credit Cards in America: Student and Secured Cards
- Credit Cards that Help You Build a Nest Egg
This article was updated Sept. 8, 2011 to correct the annual fee on the Blue Cash Preferred Card from American Express. Originally, the review listed it as having no annual fee.
Featured Image: Marcin Wichary, via Flickr.com