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Credit Card Applications » News » Promotions » Phillips 66 Credit Card to be Issued by GE Capital Retail Bank

Phillips 66 Credit Card to be Issued by GE Capital Retail Bank

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GE Capital Retail Bank will be the exclusive issuer of Phillips 66 credit cards, according to a recent agreement between the two companies.

The cards will be launched on August 1 and will include a private label consumer credit card portfolio and a branded business charge card targeted at commercial customers. GE Capital Retail Finance will manage and service all accounts.

The cards will provide promotions and incentives for people pumping gas at Phillips 66, Conoco or 76 stations nationwide. There are about 8,000 independently owned retail locations for the three brands.

There are three consumer cards available under the agreement including one for each brand. Consumers can earn rewards for qualifying gas purchases using the card at their preferred fueling station.

Commercial cardholders will have access to account management tools like expense tracking, auto repair, vehicle washing, and purchases at convenience stores attached to stations.

Taking over from Citibank

GE Capital Retail is taking over the Phillips 66 private label card business from Citibank, the former issuer of the cards. They will acquire the existing card program assets as part of the pact. Terms were not disclosed.

Customers are currently unable to apply for new Phillips 66 cards, as the business is being transferred from Citibank to GE Capital Retail.

Average gas card savings

The cash back reward for Phillips 66 cards is five cents off per gallon when drivers buy at least 45 gallons of fuel each month. Most gas credit cards give a cents-off discount for volume purchases, and gas rewards credit cards offer the greatest value to drivers who prefer to exclusively fuel up at one particular brand of gas station.

Otherwise, people are better off using a cash back or other type of rewards credit card that offers savings or rewards on all purchases, including fill-ups on any brand of gas.

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