Save on Gas with a Credit Card

gas prices

All over the country, drivers are feeling the pains of high gas prices this summer. With a nationwide price averaging around $3.50, consumers are looking for ways to save while still remaining mobile for the summer months. One way to curb the financial impact of these high prices is to apply for a gasoline credit card. The cash back rewards on these specialized cards can be very helpful, under the right circumstances. Here are a few things to look for when considering a gasoline credit card.

First, a gasoline credit card is only a viable option if you have the money to pay it off every month. These cards, particularly those issued by the gas stations themselves, often come with a very high interest rate. If you have to carry a balance, the interest fees will quickly outweigh the cash rewards.

It is also very important to look into the long term benefits of your credit card offer. While many offer great cash incentives to buy gas on credit, some cards only give the rewards for the first few months, then switch to a much smaller rewards plan. Other important points to consider are whether the credits are given in cash back or gasoline credit, and whether you can redeem your rewards monthly or only annually.

Finally, gasoline credit cards can be obtained either through a gas company or through a more conventional credit card company. Be sure to evaluate alternatives from both avenues before deciding which card is right for you.

Below are links to some of the credit cards offering incentives for gasoline purchases. These and other options can help reduce the effect of high gas prices on your life this summer.

Chase Freedom Visa Card

Citi Thank You Preferred

Chase Freedom Visa Card

The BP Visa Rewards Card

The Shell Platinum MasterCard

The Chevron/Texaco Visa

The Exxon/Mobil Smartcard

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