Top Credit Cards for Saving on Gas

credit cards save gasAs gas prices continue to rise, consumers continue to look for ways to save at the pump. While many credit card offers boast of offering credit cards for saving on gas purchases, not all credit cards are created equal concerning rewards for filling your tank. Here are the top six cards for earning rewards for topping your tank. Nothing is more rewarding than being knowledgeable about choosing the right credit card for your credit needs without getting many cards you do not need or paying fees you do not have to. So check out these six.

Blue Cash from American Express

American Express offers two Blue Cash options; the Preferred and Everyday. The rewards are similar, but the Preferred card has more perks and an annual fee. Both cards require an “Excellent” credit rating.

Blue Cash Preferred

The Blue Cash Preferred Card offers 3% cash back on any gas purchase with no station or brand restrictions. The card also offers 3% cash back on all department store purchases without limits. Groceries earn 6% cash back, but those rewards are capped at $6,000 per year. Gas and department store rewards are not subject to an annual limit. Rewards are redeemed as a statement credit.

The Blue Cash Preferred card does have a $75 annual fee but offers a “Get $100 Reward” statement credit with $1,000 in purchases during the first three months, which pays the annual fee. All cardholders receive a one-year membership in Amazon Prime, a $95 value, for free. The rewards are the same throughout the year.

The card offers 0% APR for the first 15 months on purchases and balance transfers. There is a 3% balance transfer fee. The APR increases to 12.99% to 21.99% (variable) after 15 months.

Blue Cash Everyday

The Everyday card works the same way as the Preferred, with lower reward levels. There is no annual fee for the Everyday card. Customers earn 4% cash back on all gas and department store purchases with no restrictions. Grocery purchases earn 3% cash back on purchases up to $6,000 per year.

The card offers a “Get 50 Reward Dollars” with $1,000 in purchases within the first three months, plus one-year membership in Amazon Prime. It also provides a 0% APR on balance transfers and purchases for the first 15 months; then the APR adjusts to 12.99% to 21.99% per year. There is a 3% fee on all balance transfers.

Chase Freedom

Chase wants to be the card in your wallet. Chase cards are great credit cards for saving on gas because unlike the American Express Blue Cash, the rewards change quarterly on this card. The first and third quarters of the year offer 5% cash back (January through March and July through September), with 1% cash back the rest of the year. There is a cap of $1,500 cash back per quarter. There is no annual fee.

Chase offers a $100 cash back bonus for customers spending $500 during their first three months of card ownership. An additional cash back bonus of $25 can be earned by adding an authorized user during the same three month period if $500 is spent.

For the first 15 months, Chase offers 0% APR on purchases and balance transfers. The APR increases to a variable rate of 13.99% to 22.99% after the promotional period expires. There is a 3% fee on all balance transfers. A bad credit rating will not let you qualify for the lower APR after the expiration of the promotional rate. Your credit must be rated Excellent.

Pentagon Federal Credit Union (PenFed) Platinum Rewards Visa Signature Card

You do not need to be a federal employee to enjoy the perks of this Visa. Anyone can open an account with a nominal deposit of at least $15 to be eligible to apply, and the card has no annual fee. The cash back percentage is converted to points on this card which can be redeemed for travel, merchandise, gift cards and prepaid Visa cards. Cardholders also receive exclusive discounts on travel, sporting events and concerts.

Points on gasoline are equivalent to 5% cash back at any branded station if the purchase is made at the pump. Groceries earn a points equivalent to 3% cash back while all other purchases earn points equal to 1% cash back. There is no limit on the number of points you can earn.

Purchases and balance transfers are subject to 4.99% APR for the first 48 months. While this rate is a bit higher, the promotional period is longer. After 48 months, the APR rises to 9.99% which is significantly lower than other cards. Unlike many other credit cards, PenFed’s Visa does not have a foreign transaction fee. Applicants must have an Excellent credit rating be approved.

TrueEarnings Card from Costco and American Express

If you shop at Costco, this card gives you a two for one punch. Not only does it provide the benefits of American Express, but it also gives cardholders free membership to Costco. Cardholders earn 3% cash back on all gasoline purchases up to $4,000 annually. After the $4,000 is met, the cash back reduces to 1%. There is 2% cash back at restaurants and 1% cash back on all other purchases with no limits. All cash back comes in the form of a reward coupon to be used at Costco.

The card offers 0% APR for the first six months on all purchases and balance transfers with the rate adjusting to 15.24% APR after that. Unlike other cards, this one does not permit balance transfers. Cash advances are subject to 25.24% APR. Applicants must have an Excellent or Very Good credit rating for approval.

Marathon Credit Card

This is a very good choice for those who are brand loyal. Cardholders receive a $0.25 rebate for every gallon when there is a minimum of $1,000 per month is charged on the card. A rebate of $0.15 for every gallon is earned for monthly purchases of $500 to $999. Monthly purchases of less than $500 receive a $0.05 rebate. Cardholders receive double rewards for the first 90 days. Every $25 in rebates earns a $25 Marathon Cash Card to use on any Marathon purchase.

The card has no annual fee. Balances are subject to 25.99% APR. Applicants must have an Excellent or Very Good credit rating.

Chevron and Texaco Credit Card

This branded card does not offer cash back. Instead, it offers automatic discounts at the pump. Card holders get $0.30 discount for the first 60 days. Qualifying purchases of $1,000 or more are eligible for $0.20 discounts while purchases of $300 to $999 earn a $0.10 discount. There is a maximum of $300 in pump credits annually. There is no annual fee.

All purchases made on the card count toward rewards, except charges made at Chevron and Texaco branded stores and competing chains. The card does not offer balance transfers. The APR is 26.99%. Applicants must have an Excellent or Very Good credit rating.

While there are more options available, these cards offer the best rewards. Be sure to do your research before applying to be sure the card meets your needs. You will have noticed that all these cards require a good credit rating to qualify. If you are struggling to improve your credit score or have a history of bad credit, there is hope. Credit Help Cards can help you find the perfect card offer for you regardless of your credit. So if you are looking for credit cards for saving on gas or a card to make necessary purchases a little easier, we can help.