Applying for a Gas Card

Gas rebate cardsIf you’re in the market to apply for a gas card to save money, you may be wondering where all those reward cards are.  Are there any out there when the economy isn’t doing so hot?  Yes, actually there are, and they have been doing great since day one.  If you’re considering one for your wallet, here are some tips that I use when looking for the best card.

Is it for one gas station only?

Some gas cards out there are designed for one gas station only.  For example, the BP visa card is designed for the BP gas station, where as a card like Discover’s Open Road is designed for all gas stations.  Do you want a card that’s for one station only, or do you want one where you can use it anywhere?  Yes, they both have their upsides, and downsides, but I’ll let you be the judge.

Watch for the intro rates

Some intro rates look really appealing, but when you peel back the terms and conditions, and read what you’re really getting, you’ll be in for a shock.  For example, you may find one card may give you 10% back, but you find out that it’s only for the first 60 days.  After the 60 days, you’ll find that you get only 2% back.  You want to look at what you get in the future for good, instead of the introductory rate.

Watch out for the fees

In my opinoin, a great gas card is going to have no fees at all.  This means no monthly fees, or an annual fee.  You’re not going to use your card that often, but when you do, you don’t want to see a pesky little fee on your statement.  There are a lot of great cards out there with no annual fees.  Consider getting one of these so that you can make the most of out your spending.

Get more than gas rewards

You’ll find that some cards will give you more than just gas rewards.  This is why I recommend that you get a Visa or MasterCard branded card.   If you use it on other purchases, you can get points as well.  As you should know, these points will turn into bonuses like cash back, or gift cards.

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