Best Gas Credit Card

[threeful]

I am looking for a credit card that will give me a good rebate on gas purchases.  With gas/diesel approaching $3/gal a 5% rebate would look nice. I've look on the internet but still not sure what is the best deal in the long run.  There seems to be some intro offers but I am looking past 6 mos. 

Any suggestions??

Thanks

Bill T

 

[ArdraF]

Bill,

It's not a credit card, but most RVers have the Flying J courtesy card which gives us a discount on fuel.  When you've got a 100 gallon tank, every little bit helps! 

ArdraF

 

[Ned]

We get 5% cash back on fuel from our Citi Mastcard up to $300/year.  Our Discover also gives us 1% cash back on all purchases.  I believe Discover also has a special fuel card with 5% cash back.

 

[irvsiegel]

  Citi offers a card with 2% back on gasoline purchases.  Limit of $300 rebate in one year.  That's $15,000 in gas.  Get fuelin'!

  My wife and I each have a card, so between the two of us we can get $600 back.  That's $30,000 in gas.  At $3.50/ gallon, that's 8571.43 gallons.  At eight miles to the gallon, that would be 68571 .43 miles of driving.  Happily, that 2% rebate is also for grocery stores, pharmacies, and utility bills.  1% back on other purchases.

                                                                               

 

[hleap]

American Express Small Business Cash Bonus Card.... 5% on gas purchases, Office Supplies and Cell Phone Service, 1% on everything else.

 

[Jerrygroah]

On the 5% and 2% refunds, has anyone been able to get the credit card companies to give you the exact criteria for the refund?  I have tried until I am blue in the face. For instance, if you purchase your fuel at a convience store you do not get the gas credit. I have yet been able to come up with the refund numbers given by the card companies vs the actual refund in my statements.

The closest I have come was that the credit card company assigns a gas merchant a number and if that number is on their list then you get the refund other wise no. You only get 1%.

Oh ! well!, it beats getting nothing back.

Jerry

 

[Ned]

Irv, we get 5% cash back on fuel (gas and diesel), groceries, and restaurants, 1% on all other items, up to $300/year, on our Citi Mastercard.  After we hit the $300, we switch to our Discover card and get 1% cash back on everything.  We could get Lorna a Citi Mastercard, but we already have more credit cards than we need.

There are a lot of different credit card programs out there, Discover has a gas card with a higher (3 or 5%) cash back on gas, but either an annual limit or nothing on other purchases.  I was going to switch to it but it was actually less useful than the 1% card that we have.

Jerry, the credit is dependent on how the credit card company has coded the merchant, as you suspect.  If it's not coded as a fuel station, you don't get the fuel rate.

 

[Jeff]

Irv, we get 5% cash back on fuel (gas and diesel), groceries, and restaurants, 1% on all other items, up to $300/year, on our Citi Mastercard.  After we hit the $300, we switch to our Discover card and get 1% cash back on everything.  We could get Lorna a Citi Mastercard, but we already have more credit cards than we need.

There are a lot of different credit card programs out there, Discover has a gas card with a higher (3 or 5%) cash back on gas, but either an annual limit or nothing on other purchases.  I was going to switch to it but it was actually less useful than the 1% card that we have.

Jerry, the credit is dependent on how the credit card company has coded the merchant, as you suspect.  If it's not coded as a fuel station, you don't get the fuel rate.

Ned:

I just received notice from Citi that the dividend was going to drop to 2% and they would add more types of purchases to the group. Called them and invoked the right to maintain the 5% until the cards expire next year and then will have to replace them. ??? ???

 

[Ned]

Thanks for that info.  We're almost at the $300 max, so it shouldn't affect us this year.  Maybe they'll remove the $300 max?

 

[Jeff]

Thanks for that info.  We're almost at the $300 max, so it shouldn't affect us this year.  Maybe they'll remove the $300 max?

Don't you carry two, one for the second half of the year?

 

[Ned]

No, we have too many credit cards as it is.

 

[scottydl]

No, we have too many credit cards as it is.

A problem many folks have.    I experienced this phenomenon with a 5% cash-back American Express that I still carry but hardly use anymore.  Used to use it for EVERYTHING, groceries, gifts, online stuff, gas, you name it, just so I could get more of that 5% back.  Paid it off in full every month, so interest rate was never an issue.  But sometimes I'd look at the bill and think "MAN, how did I spend THAT much in 30 days?"  Then I read about a statistic that says you actually end up spending 15-20% more than normal by using credit cards (since you never really see the amount you're spending until the end of the month) than using actual money.  So even at 5% back you're still 10-15% down.  I found this overspending phenomenon to be true, and now use my Visa checkcard for everything.  I have to subtract every transaction from my checkbook and watch the money disappear... really keeps me in check as far as nickel & dime spending.  And now my bank added a points program, so there's still a reward for using it and no threat of interest or miscellaneous charges that credit cards carry. 

Moral of the story... if there's a discount card you can use for gas (but must pay by other means) then go for it.  I believe the Flying J card is this way... but that doesn't mean the Flying J always has the cheapest gas, so your discount savings might be negated that way.  Gotta take all factors into account!