[DISCLOSURE: Cards from our partners are mentioned below.]
These days, many adults with reliable cars and clean driving records are signing up to drive with ride-hailing services like Uber, Lyft, and Sidecar. These companies help passengers find rides using GPS and smartphone technology, allowing drivers to earn money with their own vehicles.
But fuel costs can quickly stack up. And while some ride-hailing services offer limited fuel rewards programs, those programs don’t help with everyday spending. With the right credit card, however, drivers can earn rewards or savings as they shop for gas, making their driving gig just a little more lucrative.
Here are four credit cards for ride-hailing drivers.
Rewards: 4% cash back on up to $7,000 in eligible gas purchases per year, 3% cash back on restaurant and eligible travel purchases, 2% cash back on Costco and Costco.com purchases, and 1% cash back on everything else.
Sign-Up Bonus: None
Annual Fee: $0 (you must have a paid Costco membership)
Annual Percentage Rate (APR): 16.74%* (Variable)
Why We Picked It: Costco members can earn great cash-back rates on gas.
For Your Fares: With 4% cash back on eligible gas purchases (including at Costco), drivers with Costco memberships will earn a fantastic cash-back rate at the pump. Plus, cardholders earn 2% cash back on other Costco purchases, including a variety of auto goods and services to keep your ride running smoothly.
Drawbacks: You’ll have to be a Costco member to access this card.
Rewards: 6% cash back on up to $6,000 in annual US supermarket purchases, 3% cash back at US gas stations and select US department stores, and 1% cash back on other purchases.
Welcome Offer: $200 bonus cash back when you spend $1,000 in the first three months.
Annual Fee: $95
APR: 0% for 12 months on purchases, then 14.49%-25.49% Variable APR.
Why We Picked It: You’ll earn solid cash-back rates at the pump and beyond.
For Your Fares: You’ll get 3% cash back on gas purchases at all gas stations in the US (not including supermarkets, warehouse clubs, and other merchants that don’t primarily sell gas). There’s a nice little $150 sign-up bonus too, as well as a helpful Roadside Assistance Hotline.
Drawbacks: The card does charge a $95 annual fee.
Rewards: 2% cash back at restaurants and on gas for up to $1,000 in quarterly combined purchases, 1% cash back on everything else.
Sign-Up Bonus: Matching on all the cash back you earn in the first year.
Annual Fee: $0
APR: 0% for 14 months for purchases (and balance transfers, with some limits), then 13.49% - 24.49% Variable on purchases & balance transfers APR.
Why We Picked It: With 2% cash back at gas stations and restaurants and a huge sign-up bonus, this card’s initial value is strong.
For Your Fares: You’ll get easy cash back on gas and restaurant purchases, which will help you fill up your tank and grab a meal between fares. Discover will match all cash back you earn in your first year, which supercharges the early value of the card.
Drawbacks: Other cards offer higher cash-back rates on gas.
4. PenFed Platinum Rewards Visa Signature Card
Rewards: 5 points per dollar spent on gas at the pump, 3 points per dollar spent on groceries, and 1 point per dollar spent on other purchases.
Sign-Up Bonus: $100 bonus statement credit for spending $1,500 within the first 3 months.
Annual Fee: $0
APR: Variable 9.74% to 17.99% APR on purchases; 0% for 12 months on balance transfers now through September 30th, 2017.
Why We Picked It: Gas purchases earn lots of points toward travel and other rewards.
For Your Fares: Gas purchases earn five points on the dollar, which can help you rack up points fast. Points can be redeemed for travel, gift cards, merchandise, and more.
Drawbacks: You must be a PenFed member to get this card.
How to Choose a Credit Card for Fueling Your Rides
If you’re looking for a card to help you afford your ride-hailing gig, you’re likely focused on gas expenses, so choose a card that offers strong rewards rates on gas purchases. If you’re loyal to one gas station brand, find out if that brand offers a credit card. However, you’ll want a card that isn’t tied to one company if you tend to fill up wherever’s convenient.
Don’t forget to consider the wear and tear on your vehicle, too. Choosing a card with emergency roadside assistance will help ensure you have access to support in case of a breakdown.
If you also plan to use your card for everyday purchases, pick one that rewards your other spending habits as well. Examine the rewards programs and purchase categories for each card you’re considering to choose the one that best fits your overall lifestyle.
What Credit Is Required for a Ride-Hailing Credit Card?
Cards that provide strong gas rewards often require good to excellent credit. Be confident in your chances of your approval before you apply, as a hard inquiry into your credit could lower your credit score a few points. If you aren’t sure where you stand, you can check your credit score for free at Credit.com.
At publishing time, the Costco Anywhere Visa Card by Citi, Blue Cash Preferred Card by American Express, Discover it Chrome, and PenFed Platinum Rewards Visa Signature Card cards are offered through Credit.com product pages, and Credit.com is compensated if our users apply for and ultimately sign up for any of these cards. However, this relationship does not result in any preferential editorial treatment.
Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.