Rewards, rewards, rewards.
Why rely on debit cards when credit cards can rake in some fabulous rewards? From cash back to free hotel nights to airline miles to gas and grocery discounts, you can make money by spending money, as long as you’re careful about staying out of credit card debt and avoiding credit card fees.
Of all the rewards you can earn on credit card purchases, gas discounts aren’t always the best deal. However, if you do a lot of driving, especially in a car that’s not fuel-efficient, focusing on gas-related rewards might make sense.
There are two types of rewards credit cards when it comes to saving on gas: gas station branded credit cards, and cash back credit cards that offer extra cash back on gas purchases.
The latter, cash back credit cards, almost always offer a better deal. Gas station branded credit cards have unimpressive rewards, and they’ve only gotten worse over the years. Plus, they’re only good for discounts at one gas station chain.
However, there are still a few that are worth looking into if you’re loyal to one specific station. Here are several of the best gas station branded credit cards, followed by cash back credit cards that offer some serious rewards on gas purchases.
Best Gas Station Credit Cards
Rebate offer: 15 cents per gallon rebates for every $100 spent at BP stations, 5 cents per gallon rebates on purchases elsewhere, excluding non-BP gas stations
Sign-on bonus: 25 cents per gallon rebates for every $100 spent at BP stations for the first 60 days
Conditions: You can cash in your rebates at any time, but your price per gallon can never drop below 10.9 cents, and you can’t use rebates to fill up more than 20 gallons at a time. You must use rebates within 12 months of earning them.
This card is a decent deal if you can make at least $1,000 in purchases every month and a good deal if you can spend over $2,500/month on the card.
Rebate offer: 10 to 20 cents per gallon in rebates for use at Shell stations, conditions apply
Conditions: You must make at least $500/month in purchases to get a 10 cent/gallon rebate on Shell gas. If you spend more than $1,000/month, you get a 15 cent/gallon rebate, and if you spend $2,500/month or more using your Shell Mastercard, you get a 20 cent/gallon rebate. Rebates are capped at 100 gallons per month.
Chevron and Texaco Technron Advantage Visa
Rebate offer: Unlimited 3 cents off per gallon, plus up to 10-20 cents per gallon in rebates for use at Chevron and Texaco stations, conditions apply
Conditions: You must make at least $1,000/month in purchases in order to qualify for the 20 cents/gallon rebate. If you make at least $300/month in purchases but less than $1,000/month, you qualify for a 10 cents/gallon rebate. There are no caps on rebates.