Gas credit cards may seem appealing, but general cash-back rewards cards often provide better value. Here’s a breakdown of your options and how to maximize savings.

General Rewards Credit Cards

Advantages

Higher Cash Back: Many rewards cards offer 5% back on gas purchases compared to the typical 5-10 cents per gallon from gas cards. - Example: For a $60 fill-up, 5% cash back equals $3 savings, which is often double what gas cards provide.

Broader Usage: Cash-back cards reward spending across various categories, not just gas.

No Brand Limitations: Rewards apply at any gas station.

Top Picks

• Citi Custom Cash Card: 5% cash back on your top spending category (up to $500/month), including gas.
• Sam’s Club Mastercard: 5% back on gas purchases (up to $6,000 annually).
• Costco Anywhere Visa: 4% back on gas purchases (up to $7,000 annually).
• PenFed Platinum Rewards Visa: 5x points on gas and EV charging stations, no mileage cap (requires PenFed Credit Union membership).

Gas-Branded Credit Cards

Advantages

Easier Qualification: Gas cards often accept those with fair credit scores.

Exclusive Discounts: Some cards offer benefits beyond gas, like discounts on in-store purchases.

Limitations

Lower Rewards: Savings often cap at 5-10 cents per gallon, which equates to about 1-1.5% back.

Brand Restrictions: Discounts apply only at specific gas stations.

High Interest Rates: Gas cards typically carry higher APRs than general rewards cards (e.g., Shell’s 29.49% APR).

Notable Gas Cards

• BP Credit Card:
• 5 cents off per gallon at BP/Amoco stations.
• 1% cash back on nonfuel purchases.
• BP Visa Credit Card:
• 10 cents off per gallon.
• 3% back on groceries and 1% on other spending.

Maximizing Savings

Combine Rewards:
- Use a gas brand app (e.g., Phillips 66) for per-gallon discounts while paying with a cash-back card for additional rewards.
- Example: Pair Sam’s Club Mastercard (5% back) with a 10-cent discount via an app.

Pick the Right Card for You:
- Drive Often? Opt for cards with high caps (e.g., Costco Visa).
- Fair Credit? A gas-branded card may be easier to qualify for.

Avoid Carrying Balances: High APRs on gas cards can negate rewards if you don’t pay off your balance monthly.

Verdict

While gas-branded credit cards can help if you have fair credit, general rewards cards typically offer better savings and flexibility. Combining discounts from apps with rewards cards can further stretch your dollars at the pump.

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