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Gas Rewards Credit Cards
These days it's tough to really know what you're going to pay for gas. The volatility of gas prices with overnight swings of thirty cents or more can really have a major impact on your budget. As the old adage states "it's the small things that kill you." To help combat this several consumers are turning to gas rewards credit cards which function similarly to cash rebate cards. The underlying difference is that with a gas card, unlike general cash back deals, you earn the highest percentage of rebates at fuel and service stations. If you drive frequently for a commute or have an SUV it makes sense to use one when you fill your tank. Compare the gas rewards credit cards below and apply online safely and securely.
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- 0% intro APR on purchases and balance transfers for 15 months, then the variable standard purchase APR of 10.99% - 19.99%*
- 2% automatically at gas stations and restaurants all year long*
- Plus, up to 20% Cashback Bonus at popular online retailers when you shop through Discover.com
- Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
- 24/7 access to a U.S.-based Account Manager within 60 seconds
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- *Click apply to view rates, fees, rewards, limitations and other important information
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Intro APR
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Intro APR Period
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APR
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Annual Fee
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Balance Transfer
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Minimum Credit Required
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0%*
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15 months on purchases & balance transfers*
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10.99% - 19.99% (Variable)*
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$0*
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Yes*
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Excellent
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| Citi® Dividend Platinum Select® Visa® Card |
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- $100 cash back after $500 in purchases within the first 3 months of account opening
- 0% Intro APR on Balance Transfers and Purchases for 12 months. After that, the APR will be 12.99%-22.99% variable based on your creditworthiness*
- Earn 5% cash back at The Home Depot and on Home Furnishing and Home & Garden purchases from 4/1/12 to 6/30/12 when you enroll.
- Each quarter, you can enroll to earn additional cash back in popular categories.
- Full 1% cash back on all other purchases and eligible cash advances.
- No annual fee*
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Intro APR
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Intro APR Period
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APR
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Annual Fee
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Balance Transfer
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Minimum Credit Required
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0.00%*
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12 months on purchases*
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12.99-22.99% (Variable)*
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$0.00*
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Yes*
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Excellent
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- 0% intro APR on purchases and balance transfers for 15 months, then the variable standard purchase APR of 10.99% - 20.99%*
- 5% Cashback Bonus® in categories that change like gas, restaurants, department stores and more. Limitations apply*
- Up to 20% Cashback Bonus at popular retailers when you shop online through Discover.com
- Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
- 24/7 access to a U.S.-based Account Manager within 60 seconds
- $0 Fraud Liability plus mobile and email fraud alert options
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- *Click apply to view rates, fees, rewards, limitations and other important information
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Intro APR
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Intro APR Period
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APR
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Annual Fee
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Balance Transfer
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Minimum Credit Required
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0%*
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15 months on purchases & balance transfers*
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10.99% - 20.99% (Variable)*
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None*
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Yes*
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Excellent
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General Gas Rewards vs. Cash Back vs. Station Specific Offers
There are essentially three different types of credit card types available that may be used for earning gas rebates. They are general gas rewards cards which are essentially cash back cards that allow a higher rebate percentage on fuel purchases, cards that are labeled as cash back offers that allow you to earn a percentage on purchases back anywhere including at gas stations, and gas stations specific cards which act as credit cards that can be used for particular brands like Sunoco or Exxon. Below we will outline the major differences between the three and provide some insight as to which variety is the best deal.
Gas Rewards Credit Cards
With this type of rebate offer you will earn a particular percentage of money on purchases at gas stations. They differ from regular cash back deals as the rebate percentage is typically higher at service stations as that's the focal point of the rewards program. Because they are in essence cash back cards, there typically is some earning potential for purchases made elsewhere, but usually lower, typically in the 1% range. This type of offer is an excellent deal for two types of consumers.
The first is the individual who has multiple types of rewards cards and use each one at the locations where they may earn the most. They will use a gas card which offers say 3-5% cash back just when they pay at the pump. They will use their general cash back card when making purchases at grocery stores or drugstores if they can earn 3-5% back there with that card. This type of strategy, though the best way to maximize earning potential, requires serious discipline and isn't employed by most. If you don't use this type of system over time you will probably earn more with a general cash back as the rebate potential is usually higher at places where you spend more like grocery stores.
The other type of consumer who may really benefit from this type of deal is a person who fills their tank up several times a week. This would either be a commuter or someone else who frankly spends more time in their card than anywhere else while they are awake. This is an extreme case as the largest expense for most individuals on a monthly basis are purchases made at grocery stores. If you're one of those rare cases where your largest monthly expense it at service stations and are looking for just one rewards card, a gas rebate card may be your best option.
Cash Back Cards Used for Gas Rewards
A cash back card can be used in place of a gas rewards offer and in most cases its use will result in greater savings; in the event that this is the only type of credit card you carry. As stated above, the best way to earn the most money with credit cards is to use different types of offers at places where the attributes of that card's rewards program will yield the greatest savings or rewards accrual. But, most people do this and are enticed by gas rebate deals as the cost of fuel has skyrocketed in recent years. The thing is that a gas rewards card is really the exact same thing as a credit card with a fixed cash back structure where the highest earning potential is at gas stations. However, if you look at regular cash back credit cards, you'll notice that most, if not all of them provide competitive earning potential on fuel purchases. It may not be 3-5%, but the rebates are still there. Plus there are usually tiered structures where more can be earned at other types of locations where you probably spend more money. It makes more sense to obtain an offer that gives 3% at grocery stores and 1% on gas than an offer that gives 3% on gas and 1% at supermarkets because chances are that you spend more money at the grocery store -- hence you will earn more.
Station Specific Cards
Stay away from these offers. Gas station issued credit cards and even co-branded offers provided through affinity agreements between major lenders and gas companies are almost always bad deals. The gas station cards, meaning the ones that don't carry a major network logo (Visa, MasterCard, American Express, Discover) will typically have aggressively high interest rates, to the point where they resemble rates offered by predatory lenders. The co-branded cards, though a little bit more reasonable from an interest side of things, still aren't really a good deal. Some have annual fees, and the interest rates, though lower than station issued offers, still aren't competitive with regular gas rebate, cash back cards, or even points cards which can also be used for earning rewards at gas stations. Even if you buy all of your fuel at one particular station it is not a good idea to go with one of these offers, unless you pay your balance off in full every month. If you don't any you carry a balance, you will pay the price -- literally.
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