Fuel expenses can quickly add up, making it crucial to find ways to save money at the pump. A fuel credit card is a great way to offset these costs by earning rewards, cash back, or discounts on gas purchases. Choosing the right card depends on your spending habits, preferred rewards program, and credit score. This article will guide you through the best fuel credit cards available in 2024, helping you maximize your savings and find the perfect fit for your needs.
Top Fuel Credit Cards: A Comparison
| Credit Card | Key Benefits | Additional Perks |
|---|---|---|
| Chase Freedom Unlimited® | - 5% cash back on travel purchased through Chase Ultimate Rewards®; 3% on dining and drugstores; 1.5% on all other purchases. | - Intro APR: 0% for 15 months on purchases and balance transfers; $200 bonus after spending $500 on purchases in the first 3 months from account opening; Purchase protection; Trip cancellation/interruption insurance; Auto rental collision damage waiver; Extended warranty protection. |
| Blue Cash Preferred® Card from American Express | - 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%); 6% cash back on select U.S. streaming subscriptions; 3% cash back at U.S. gas stations and transit; 1% cash back on other purchases. | - Intro APR: 0% for 12 months on purchases and balance transfers; $250 statement credit after spending $3,000 on purchases within the first 6 months; Purchase protection; Return protection; Extended warranty; Amex Offers. |
| Citi Custom Cash® Card | - 5% cash back on your top eligible spending category each billing cycle (up to $500 spent, then 1%). Gas stations are a common top spending category for many. | - Intro APR: 0% for 15 months on purchases and balance transfers; No annual fee; Citi Entertainment access; Citi Easy Deals. |
| Discover it® Chrome Gas & Restaurant Card | - 2% cash back at gas stations and restaurants (on up to $1,000 in combined purchases each quarter, then 1%). | - Cashback Match: Discover automatically matches all the cash back you've earned at the end of your first year; Intro APR: 0% for 6 months on purchases and 14 months on balance transfers; No annual fee; Freeze it® (ability to freeze your card); Discover Deals. |
| Shell Fuel Rewards® Credit Card | - Save 30¢/gallon (up to 35 gallons) on your first 5 fill-ups; Save 10¢/gallon every month you spend $500 or more on qualifying purchases; Save 5¢/gallon every month you spend less than $500. | - Fuel Rewards® Gold Status; No annual fee; Accepted at Shell stations nationwide. |
| Costco Anywhere Visa® Card by Citi | - 4% cash back on eligible gas worldwide (on the first $7,000 per year, then 1%); 1% on gas at Costco. | - 1% cash back on all other purchases; 2% cash back at Costco and Costco.com; 3% cash back on restaurants and eligible travel; Requires Costco membership; No annual fee (with paid Costco membership); Worldwide acceptance; Citi Entertainment access. |
| PenFed Platinum Rewards Visa Signature® Card | - 5x points on fuel purchases at gas stations; 3x points on groceries; 1x points on everything else. | - Introductory APR offer, no annual fee, no foreign transaction fees, travel and purchase protections. Requires PenFed membership. |
Detailed Explanations of Credit Card Features
Chase Freedom Unlimited®: The Chase Freedom Unlimited offers a straightforward rewards structure with a strong emphasis on travel through the Chase Ultimate Rewards portal. It provides 5% cash back on travel purchased through Chase Ultimate Rewards, 3% on dining and drugstores, and a solid 1.5% on all other purchases. This makes it a versatile option for everyday spending, not just fuel. The intro APR and sign-up bonus add extra value during the first year.
Blue Cash Preferred® Card from American Express: This card is a powerhouse for families who spend a lot on groceries and fuel. The 6% cash back at U.S. supermarkets (on up to $6,000 per year) and select U.S. streaming subscriptions is impressive, and the 3% cash back at U.S. gas stations and transit makes it a great fuel card. The intro APR and welcome bonus further enhance its appeal. It's important to note the annual fee, which is offset by the generous rewards for those who spend enough.
Citi Custom Cash® Card: The Citi Custom Cash Card offers a unique approach to rewards. It automatically adjusts to give you 5% cash back on your top spending category each billing cycle (up to $500 spent). If your highest spending is at gas stations, you'll earn 5% back on fuel purchases. This flexibility makes it a valuable card, especially for those with fluctuating spending habits. The intro APR and no annual fee make it an attractive option.
Discover it® Chrome Gas & Restaurant Card: This card provides a straightforward 2% cash back at gas stations and restaurants (on up to $1,000 in combined purchases each quarter). While the rewards rate isn't as high as some other cards, the Cashback Match feature, where Discover matches all the cash back you've earned at the end of your first year, significantly boosts your rewards. The intro APR and no annual fee make it a low-risk option.
Shell Fuel Rewards® Credit Card: This card is specifically designed for Shell customers. The rewards structure is based on saving per gallon rather than earning cash back or points. You can save 30¢/gallon on your first 5 fill-ups, and then earn ongoing savings based on your monthly spending. The Fuel Rewards® Gold Status provides additional benefits. If you frequently fuel up at Shell stations, this card can offer significant savings.
Costco Anywhere Visa® Card by Citi: This card is exclusively for Costco members. It offers 4% cash back on eligible gas worldwide (on the first $7,000 per year), making it a compelling option for frequent travelers and Costco shoppers. The 1% on gas at Costco is a bit lower, but the other rewards, such as 3% on restaurants and travel, and 2% at Costco, make it a well-rounded card. Keep in mind that you need a Costco membership to be eligible for this card.
PenFed Platinum Rewards Visa Signature® Card: The PenFed Platinum Rewards Visa Signature® Card stands out with its high rewards rate on fuel. Earning 5x points on fuel purchases at gas stations translates to significant savings for drivers. Additionally, the card offers 3x points on groceries, making it a versatile option for everyday spending. The absence of an annual fee and foreign transaction fees makes it even more appealing, especially for travelers. However, it's important to note that PenFed membership is required to apply for this card.
Understanding Key Features
Cash Back: Cash back is a direct reward where you receive a percentage of your spending back as money. This can be a statement credit, a direct deposit, or a check.
Points: Points are a type of reward that can be redeemed for various options, such as travel, merchandise, or gift cards. The value of a point can vary depending on the redemption option.
Miles: Miles are typically associated with travel rewards programs. They can be redeemed for flights, hotels, and other travel-related expenses.
APR (Annual Percentage Rate): APR is the annual interest rate you'll be charged on your balance if you don't pay it off in full each month. A lower APR is always preferable.
Intro APR: An introductory APR is a temporary interest rate offered for a limited time, often 0%, on purchases or balance transfers.
Annual Fee: An annual fee is a yearly charge for having the credit card. Some cards with high rewards may have an annual fee, but the rewards can often offset the cost if you spend enough.
Sign-up Bonus: A sign-up bonus is a one-time reward you receive after meeting certain spending requirements within a specified timeframe after opening the account.
Credit Score: Your credit score is a numerical representation of your creditworthiness. A good to excellent credit score is typically required to qualify for the best rewards credit cards.
Maximizing Your Fuel Rewards
- Choose the Right Card: Select a card that aligns with your spending habits. If you spend a lot on gas, a card with a high rewards rate on fuel is ideal.
- Pay Your Balance in Full: Always pay your balance in full each month to avoid interest charges, which can negate the value of your rewards.
- Take Advantage of Bonus Categories: Maximize your rewards by using your card for purchases in bonus categories, such as gas, groceries, or dining.
- Redeem Rewards Strategically: Redeem your rewards in the way that provides the most value. For example, travel rewards may offer a higher redemption value than cash back.
- Monitor Your Spending: Keep track of your spending to ensure you're not overspending just to earn rewards.
Frequently Asked Questions
Which credit card is best for gas savings?
The best card depends on your spending habits. The Blue Cash Preferred® Card from American Express and Costco Anywhere Visa® Card by Citi are excellent options for high gas spending, while the Citi Custom Cash® Card offers flexibility.
Do gas rewards credit cards have annual fees?
Some gas rewards credit cards have annual fees, while others don't. Cards with higher rewards rates often have annual fees, but the rewards can offset the cost if you spend enough.
Can I use a fuel credit card for other purchases?
Yes, you can use a fuel credit card for other purchases, but you may not earn the same rewards rate as you do on gas purchases.
How do I redeem rewards from a fuel credit card?
Rewards redemption options vary depending on the card. Common options include statement credits, direct deposits, travel rewards, and merchandise.
What credit score do I need for a fuel credit card?
A good to excellent credit score is typically required to qualify for the best fuel rewards credit cards. This generally means a score of 670 or higher.
Are gas station credit cards worth it?
Yes, gas station credit cards can be worth it if you spend a significant amount on fuel and choose a card that aligns with your spending habits. The rewards can help offset the cost of gas and other purchases.
Conclusion
Choosing the best credit card for fuel requires careful consideration of your spending habits, preferred rewards program, and credit score. The Chase Freedom Unlimited, Blue Cash Preferred® Card from American Express, Citi Custom Cash® Card, Discover it® Chrome Gas & Restaurant Card, Shell Fuel Rewards® Credit Card, Costco Anywhere Visa® Card by Citi, and PenFed Platinum Rewards Visa Signature® Card all offer valuable rewards and benefits. By selecting the right card and using it strategically, you can save money on fuel and maximize your overall rewards.