Gasoline price hikes seem to have become part of our weekly routine; in some other parts of the world, it has even become a daily fodder in their breakfast newspaper. Although there have been positive feedback that the price of oil will go down, nobody can say for sure when and by how much. With these in mind, you are probably thinking whether the gas credit card offers in the mail or in gas stations themselves deserve a second look.
It is not uncommon to have gas purchase rebates on other credit cards’ rewards package. But most of us do not know it is there, or we have actually forgotten that it was discussed by the credit card issuer when we signed up. No too many people really peruse the brochure that comes with their credit cards when they get it. Usually, we get the card and then throw the rest in the trash bin or inside one of our drawers.
Check with your credit card issuer on this, and if they confirm that your credit card does carry rewards for fuel and gas station purposes then be sure to take advantage of it. However, typically, the rewards that you get for fuel purchases are not as high as if you have a specialized gas credit card.
Gasoline rewards card may offer better opportunities to earn discounts, rebates, cash backs, or freebies to the cardholder. The savings for the gas cardholder may ring up to 5 % discount on gas buys.
One disadvantage of carrying a gas credit card is that you bring around multiple cards in your wallet, which also means multiple interest rates to pay. Whereas, if you use one general credit card then you will be ringing up all expenditures against one account and you would not have to worry about different schedules of payments and varied interest rates and fees.
The top benefit of having specialized gasoline rewards card is that you have a steady savings figure. Everyone has a vehicle in this nation, even the 16 year olds who have just gotten hold of their licenses.
The situation though, that would really provide a vehicle owner with lots of opportunities to earn points for reward, is to own an independent gas credit card. Other non specialized credit cards with gas points in can modify changes in savings, and will have a ceiling on how much you can save. Particularly if you use your car a lot, for travels related to work or because your kids go to different schools with different class schedules, the gas credit card could be really beneficial.
If you use your gas credit cards a lot, the discounts or rebates that you get is put back into your available credit. This means that you can use the discount amount in the next purchases. You do not have to “redeem” these points to get the benefit.
However, always remember that the reason gas credit cards can offer bigger amounts of rewards to gas consumers, but are not very helpful for your other buys, usually only amounting to 1 percent.
See: Gas credit cards