Online Financial Tips

Archive for the ‘Gas Rewards Cards’ Category

If you’re in the hunt for a gas credit card, you may find that the rewards out there vary from getting cash back to a point based system. Depending on how you want your rewards, there are a few ways you can get them and today, I’ll explain the top ways credit card companies distribute your rewards. Hopefully by the time you browse over them, you’ll know exactly how you will want your card to work.

Cash back rewards system

A cash back reward system is exactly how it sounds. For every dollar you spend or with a gas card, it’ll be for every gallon you fill up with, you’ll get cash back. Let’s make an example really quick. Let’s say that you apply for a card that gives you five percent back per gallon. If the cost of gas is three dollars, you’re going to only pay two eighty five per gallon. When you receive your credit card statement, they will knock the prices off that way. You usually won’t see the savings instantly.

The points system

Some people like the point system and some don’t but it all depends on your needs. A point based system is very similar to the cash back system but you’re going to get points back instead. Most cards generally work that when you spend a dollar, you’ll get a point. Sometimes you may find that they have deal days where you can get double or triple points on particular purchases.

Every time you spend your money, your points will go into your account. You can either check your points online in your profile or you can simply glance at your statement. Your statement will usually say how many points you have. From there, you’ll be able to log into the online store and see what they have to offer. Most people think that point based stores will have nothing but garbage but this couldn’t be further from the truth. You can usually get anything from gift cards to just about any popular retailer to electronics, plane tickets, and so much! Sometimes people find that the point based system gives them more back than a cash back system.

The miles per dollar

The miles per dollar are rare and you mostly see this with airline cards but sometimes you’ll see them with gas rebates as well. Every time you spend a dollar, you’ll get a mile and like the point based system, the more miles you rack up, the more you earn. So for example, if you spend $2,500, you can get 2500 miles and that in turn can turn into a $25 gift card.

These rewards are the top three on the market and these are what most credit card companies’ use. It’s up to you to do your research on not only the rewards but the cards themselves. A credit card can really save you a lot of money if you use them properly. Spend wisely and the rewards shall come.

Many credit card companies offer their customers a reward for using their credit card. The reward can come in the form of points that you may use to select products from a catalog. The rewards can be used as frequent flyer miles, or free travel on airlines. Rewards are often given as gasoline points letting you get free gas after you have spent so much money on buying gas from service stations using the card. You should make sure that you get a card that offers this feature that is good at any service station not one that is only good at your neighborhood service station.

The reason being when you go out of your neighborhood the credit card is not useable and if you are depending on the gasoline rewards to make a trip then you will be sadly disappointed. The overall gasoline credit card should be issued from one of the major oil companies that provide gasoline all over the country.

The most popular prepaid card with rewards is the one that offers cash back when you make purchases. Remember if the credit card is prepaid you have already made a deposit in a savings account to secure your credit card. It is very important when you use the card to make your payments on time and if possible pay each purchase made each month. You should make sure that you are not being charged high interest rates or a large yearly membership fee. All these things take away from the rewards that are being offered making your card with rewards a poor deal.

There are a variety of credit card companies that are trying to help you save money on gasoline. As gas prices are either holding steady at their already-too-high rate or increasing all the time; any option for saving money on gas is helpful!

Gas cards may offer cash back when you make a gas purchase (and sometimes other purchases as well). This means you get a rebate every time you fill up your car- which can help offset the pain you feel when you pay for your gas! If the card offers a 10% gas rebate, it’s the same as getting a 10% discount when you fill up your car.

If you use a gas rebate credit card, you pay for your gas purchases using the card, and then you’ll receive your rebate from the credit card company. Depending on the terms of the card, you might receive the rebates in the form of a credit back on your credit card, a certificate, or check in the mail.

To maximize the benefits of a gas rebate credit card, be sure to pay off your entire balance each month before the due date listed on your statement. If you carry a balance from month to month, you are paying interest on your gas purchases- which will basically eliminate the rewards you are earning. For cardholders with a 0% interest rate introductory offer, you may choose to let your gas purchases accumulate over the entire period of the introductory offer- and make a single payment at the end of the free interest period. This will allow you to maximize your rebate benefits. Just be sure to send in the payment before the introductory offer ends to avoid paying a monthly interest fee.

Spend some time looking at the various gas rebate credit cards. Some cards allow you to purchase gas from any station that accepts credit cards for your rewards; while others require that you purchase gas from specific gas station brands. If you plan to use the credit card for more than just gas purchases, you’ll want to find one that gives you cash back on purchases other than gas as well, to help maximize what you earn in rewards.

You can further save money on gas with the following vehicle maintenance tips:

Keep tires inflated to the proper pressure as indicated on your owner’s manual. Tires that are inflated correctly can save up to 7 cents per gallon in gas costs. Fuel economy decreases when your vehicle is traveling at speeds over 60 miles per hour. Extra weight in your car will decrease the fuel economy. An idling engine wastes gas. Most vehicles only need to “warm up” for two or three minutes before driving, even when it’s cold. Combine errands and plan your trips. Why take three trips in one day to various places when you could do all three in one round trip and save on gas and miles?

This is the beauty of Discover card CashBack Bonus program. You get cash rewards with every purchase! Through your Discover Business card you receive a Bonus of 5% on office supplies, 2% on gas and 1% on other purchases. You earn 1% on other purchases when your total annual purchases exceed $5000. This includes $2000 purchase each on office supplies and gas. On other purchases less than $5000 you earn 0.25%.

There are many gas cash back rewards programs available.

The best gas reward credit cards are almost always tied in to one type of gasoline and gas merchant. Let’s look at one of the best gas reward credit cards.

This is a Visa credit card offering gas rewards for Hess, Hess Express and Wilco Hess. You must have very good credit to quality for this gas reward card.

Through the card’s rebate program you earn a rebate of one percent on all purchases but a five percent rebate on purchases – gas and others – made at the Hess stations. In the first 90 days of this best gas reward credit card offer
you will earn not five, but ten percent rebate on the Hess purchases. Best of all, there is no annual limit to the gas reward you can earn on these credit cards. The rebate total is directly applied to the credit card account of the cardholder, too – another plus.

This gas reward credit card has both the best annual fee and the best introductory interest rate anywhere – zero. The introductory period is six months long. The rate of interest on the balance after the introductory period
is 13.74 percent – not the best, but still a reasonable rate. The rate for cash advances, however, is quite high (though this is commonly the case). That rate is 23.74 percent, although it varies.

Another perk that makes this one of the best gas reward credit cards is its excellent reporting system for stolen or lost cards, its insurance offer for auto rentals, its travel accident insurance with a hefty ceiling of $500,000 and
the fact that the card holders is not held liable for unauthorized transactions.

The one disadvantage of this card, which, depending on your spending and payment habits may or may not matter to you, is that its finance charge method is called
a two-cycle average daily balance method. This is more costly than that used by most issuers of credit cards – the method of determining finance charges by the average daily balance.

The various fees which you should always study and compare in detail include a fee for late payment that can be as high as $39 depending on the balance you are
carrying; a $35 fee for charging over your limit; and a balance transfer fee of three percent, although this has a minimum charge of $5 and a maximum of $75.

The best use of this gas reward credit card, therefore, is to pay your balance in full each month after the expiration of the introductory rate, and to make frequent purchases at Hess, Hess Express and Wilco Hess.