If you’re looking for the best gas credit card, you’ve come to the right place. In this blog post, we will discuss some of the best options available for consumers today.
We’ll also talk about how to save money on fuel, no matter which credit card you choose. So whether you’re looking for a new gas credit card or just want to learn more about how to save money on gas, read on!
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Table of Contents
How to Save Money on Gas Prices
The price of oil is rising. It can feel daunting to know that your daily commute will cost more money. The expense of paying for gas is often necessary for modern life. However, you do not need to go another day at the pump without knowing this money-saving information. Here are some tips to help you save money on gas:
- Use a gas credit card: This is an obvious one, but using a gas credit card can help you save money on gas. Gas cards typically offer rewards or cashback on gas purchases, which can add up over time.
- Shop around for gas prices: Another way to save money on gas is to shop around for the best prices. This can be done online or in person.
- Use discounts and coupons: Many gas stations offer discounts and coupons, so be sure to take advantage of them!
- Join a loyalty program: Some gas stations have loyalty programs that allow you to earn points or discounts on fuel purchases. If you frequently visit the same gas station, it may be worth signing up for their loyalty program.
- Drive less: This one is easier said than done, but driving less can help you save money on gas. If you can carpool, take public transportation, or walk/bike when possible, you’ll save money in the long run.
- Plan your commute: If you have the option, try to plan your commute so that you’re driving during off-peak hours. This will help you save money on gas and avoid traffic. Starting and stopping or idling will burn gas quicker.
Best Type of Credit Card for Gas
The most commonly ignored advice when it comes to saving money on gas is to use a credit card that offers the highest cashback on this purchase.
Tiered Credit Cards: A tiered credit card, also known as a bonus reward or category card can offer higher cashback than a flat-rate credit card. For example, a flat-rate credit card might offer a 2% cashback on every purchase while a specific tiered or bonus credit card can offer 5% cashback on gas but only 1% cash back on other purchases.
As prices rise, it’s important to utilize a credit card that is optimized for this type of purchase. This is because gas prices are often one of the first places where we see inflation. Other economic factors also cause gas prices to rise. Having the right credit card for you is essential as a driver.
Best Credit Cards for Gas
Now that you know the best type of credit card to use for gas, it’s time to select your provider and specific card. When choosing the best credit card for gas, it’s also important to take into account any fees and other features that the card offers. For example, some gas cards come with an annual fee, while others do not.
No matter which gas credit card you choose, remember to always pay your balance in full and on time to avoid interest charges. And be sure to take advantage of any rewards or cashback offers that can help you save money on fuel costs. With a little planning and effort, you can easily save money on gas – no matter which credit card you use.
Chase Freedom Unlimited Card
One of the best gas credit cards on the market today is the Chase Freedom Unlimited card. This card offers a generous rewards program, including unlimited rewards on gas purchases. Plus, you can earn points for other types of spending as well, making it a great all-around choice.
Currently, they have a promotion for a $200 bonus plus 5% gas station cashback. Credit card companies will often have offers like this but it can be helpful to take advantage of them in times of rising oil prices. Just be mindful of their fees for later on when the promotion is over.
Blue Cash (American Express)
If you’re looking for a gas credit card with no annual fee for the first year. The Blue Cash Preferred from American Express is a good option when oil prices are rising.
This card offers 3% cashback on gas purchases, as well as 6% cashback for supermarket purchases as a bonus. It’s important to note that there will be an annual $95 fee after the first year.
The Blue Cash credit card is only available for American residents. So if you live outside of the United States, this card is not an option for you. However, we do have a Canadian credit card further down the list. Make sure to keep reading.
Citi Double Cash Card
Another great option for gas credit cards is the Citi Double Cash Card. With this card, you’ll get double cashback on every purchase – including gas purchases. That means you’ll earn two percent cash back on every gas purchase, making it a great choice for frequent fill-ups.
The Citi Double Cash Card offers a simple rewards system. 2% cashback on all purchases. You will receive 1% cashback when purchases are made and another 1% when the card is paid off totaling 2%. But you have to make sure you pay off the balance in time.
This doesn’t give you a specific bonus for gas, but it’s still a good 2% and there is no annual fee which can be a better option if you do not drive much.
Dividend Visa Infinite
If you’re searching for a credit card that offers 4% cashback on your gasoline purchases, this is the one to choose. This credit card requires a personal income of $60,000 and has an annual charge of $99.
How Much Would You Save Per Year With a Cash Back Gas Credit Card?
The average gas expense in the United States is $75 per month. Of course, this depends on how much you drive, the type of vehicle you own, etc. You may have already noticed that your gas bill is well above that number. It’s also safe to assume that there is no clear indication that the prices won’t continue to soar.
Assuming a $100 average (due to the potential of higher monthly costs), that’s $1200 a year. With a Chase Unlimited Freedom Card at 5% cashback, you can expect to receive $60 back per year.
In this scenario, with a $95 fee after the first year, you can see that this option would cost you more than just paying the extra $60. To avoid this, it may be better to pick a credit card that doesn’t have an annual fee, even if it offers lower percent cash back.
However, if you are the grocery buyer in your household, the cashback bonus might make credit cards like this worth it. If your monthly gas spending is higher than $100, it might be worth it as well. It really just depends on your personal situation.
This is just an example of the type of math you can do to help you determine which credit card is best for you..
Credit Card Best Practices for Gas
When you’re using a gas credit card, it’s important to remember a few best practices. Although these credit cards are for gas specifically, the same personal financial disciplines apply. Here is a brief overview of what to keep in mind when using your gas credit card.
Avoid Interest Charges
Always pay your bill on time and in full to avoid interest charges. Forgetting to do so can offset the benefits of your gas credit card. This is a common mistake that many people make, so be sure to stay on top of your payments!
Do Not Overspend
Second, be sure to keep track of your gas spending so that you don’t overspend. Overspending will negate the cashback or rewards that you’re earning. This poor financial habit will also harm your credit score which will lead to more financial difficulties down the road. This is especially true if you need to get a loan, whether it be a personal one or for a mortgage.
Credit Utilization
Third, aim to keep your credit utilization low. You should not use more than 30% of your available credit at any time. This will maintain a healthy credit score and gas card companies like to see this when considering an applicant for one of their cards.
Enjoy the Rewards
Lastly, remember to use a gas credit card that offers rewards or cashback so that you can save money in the long run. This is a great way to save money on gas, particularly when prices are rising.
Gas credit cards can be a great way to save money – particularly if you take advantage of promotions and gas discounts. Just remember to keep track of your spending, avoid interest charges, and don’t overspend. With these guidelines in mind, you’re sure to save money with your gas credit card!
How to Save Money on Fuel (Bonus Tips)
Only using cashback credit cards for gas purchases will help your finances in these times of rising oil costs. However, by pairing up the credit card with the other strategies in this list, you are sure to make the most out of these high prices. Here are a few other impactful and practical tips for saving money on gas:
- Plan Ahead: By planning your weekly refill schedule, you can beat the rising prices at the pump. If you know that gas prices are going to rise, try to fill up your car before the prices go up. This way, you’ll save money in the long run.
- Maintain your vehicle: loose gas caps can cause evaporation, making you lose gas and money. Make sure your car is properly maintained so that you’re not losing any gas due to technical problems.
- Remove weight: Every 100 pounds you remove from your vehicle lowers the amount of gasoline your vehicle uses by three to four percent. Objects can add up in weight, it might be a good idea to clean out the vehicle and only travel with essential items.
- Slow and steady: For every five miles per hour you reduce your speed, you may improve your fuel efficiency by as much as 80%. You may save up to 30 cents per gallon if you just ease off the gas.
- Buy in bulk: For example, Kroger and H-E-B supermarkets sell gasoline at a discount, as do wholesale club stores like Costco and Sam’s Club. They do however require you to have a yearly membership. If you are already shopping there for your groceries, it can be helpful to fill up gas there as well.
Another way to save money with this method is to only have one membership per household and refill all the vehicles using that one membership card. You can also use a gas cashback credit card for additional savings.
Take Advantage of Money-Saving Apps
A great strategy would be to use a mobile application to track down the most cost-effective gasoline stations in your area. You can do this with apps such as GasBuddy, Gas Guru, or AAA Mobile.
Buying the cheapest gas in town may save drivers up to 25 cents a gallon, according to GasBuddy. The apps are available for Android and iOS devices.
The Best Credit Cards for Gas: How to Save Money on Fuel (conclusion)
By following these tips, you can be sure that you’re getting the most out of your gas credit card – and saving money in the process! Gas credit cards are a great way to save money, but only if you use them wisely.
Rising oil and gas prices are no fun for the average commuter, but that does not mean you have to suffer at the pump. There are things you can do to ease the pain, like using a gas credit card and following these gas-saving tips.
AWe hope that this article has helped you understand the best gas credit cards and how to use them wisely. Be sure to follow the tips above so that you can enjoy the savings without harming your financial health. Thanks for reading!
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