The content is accurate at the time of publication and is subject to change.
Gas prices are increasing daily. Your monthly income sadly is not witnessing the same highs. Dump your old gas station card that gives no reward points or cash back on purchase. Stop paying high annual fees and high rate of interest for such credit cards. With various oil and gas companies giving discounts on gas and other purchases, you need a credit card that matches your needs. You no longer need to drive miles down to the only gas station to gain rebates. With companies offering reward points on gas purchase at any station and other discounts, go ahead and sign up for a credit card that gives value for your money.
Here are some tips to help to help you sign up for the best gas station rewards credit card.
Read the fine print of the gas station rewards policy to identify conditions for earning gasoline rewards. Avoid signing up for credit cards that charge a high rate of interest and make obsolete all gasoline purchases except those made select gas stations.
Reward credit cards charge higher fees than credit cards without rewards. A rewards credit with annual fees of $50 will require you to spend $5000 to reap any awards. It is worthwhile to have such a credit card, only when your reward points double on every purchase of gas and other merchandise. Also remember that you will earn no reward points, if you fail to pay off your monthly balances and keep carrying it forward to the next month. Having a low credit score will allow you to fill up your tank without shelling out a single penny but burn a hole in your pocket with high annual fees. So, regular payment of the entire outstanding balance is necessary to earn reward points. It will also save you from paying a lot more money in the form of higher interest for late payments and a late fee charge.
Do not forget to track and redeem your reward points, as reward points expire, if not used within a certain time limit. At the end of the month, you can glance over your gas expenses by looking at the credit card bill and decide to keep it or go for another.
If you prefer to carry just one credit card in your wallet for all your purchases, then choose a credit card that gives reward points on purchase of gasoline as well as other merchandise.
If you are planning to get rid of your old, fuel guzzling SUV, for a more fuel efficient automobile, that is equipped with the latest safety devices, you may want to go for a credit card that provides reward programs for car lease and purchase as well as gas.
Final tip: Follow vehicle maintenance to ensure your car is running on maximum fuel efficiency. You will benefit by making fewer trips to the gas station and paying less money at the end of the month.